Hakeer wrote:That would be OK with me so long as there is earmarks in the budget to protect Social security, Medicare, etc. to keep them in the mandatory rather than discretionary spending category. Old people and sick people need to know that money will be there, regardless which party controls Congress.
It would be nice if we could get several, or many, others to begin a discussion working out the details finding and using real government provided figures.
Social Security and Medicare would become made a mandatory budget spending item as I've suggested previously.
From what data I've been able to gather, the tax code algorithm I'm using appears capable of providing adequate revenue to fully fund budgets currently being produced, and being an algorithm would adjust tax tables without human intervention going forward each year.
IMO, we would benefit greatly were we to put our collective time spent looking to resolve some issues instead of incessantly complaining about them.
What I presented previously, if you noticed, would reduce the taxes of about 70% of taxpayers who have income of less than the GNI per person each year, and raise the taxes progressively applied to income each of the following 4 multiples of GNI per person.
In addition to what I showed earlier, would be a surtax which if the CBO projected insufficient revenue to fund the budget would be applied across the board, meaning that ALL taxpayers would bear the cost of increased spending. Most years, from what I've gathered would result in a balanced budget, no deficits, and no increased debt, perhaps even some debt reduction if a surplus resulted. In a time of great catastrophe which would require an unreasonable surtax, a deficit might then result with a debt increase. Perhaps a maximum surtax beyond which debt would be allowed should be decided as well.
As I said everything needs to be discussed, if we are to fix anything.