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Politics : View from the Center and Left

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To: Bridge Player who wrote (130274)	2/5/2010 10:04:55 PM
From: Katelew	Read Replies (1) of 543106

All the flat tax proposals I've looked at never seem capable of raising enough tax revenue to support government as we know it. It always appears that something would still have to give. Either the final tax rate would be higher than 20%...closer to 22%. Or big reductions in spending would need to occur or some combination of the two. The Bush tax cuts resulted in nearly half the country now paying NO federal income taxes. And under Bush, total tax revenues dropped to 18% of national income from a historic level of right under 20%. As a result, the annual deficits piled up and total debt doubled under Bush. So at the very least, a flat tax scheme would have to bring in at least 18% of total national income to just stay with the current levels of deficit spending. Knowing that both Reagan's and Bush's tax schemes did not lead to balanced budgets and we now have mountainous debt built up and before the boomers even start to retire and drain Medicare, why do you maintain faith in another Conservative tax proposal? What transpired to command such loyalty from you?

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