Highest % Tax Revenue Compared To GDP Will Not Cover Current Spending

[pghquest]

Originally Posted by EinsteinsGhost

I can tell.

Repeat after me: Spending Cuts AND Tax Revenue increase are the only formula towards balancing the budget.

Tax revenue increases dont necessarily mean tax increases.. Ooh wait, your a lefty, thats all you comprehend..

[EinsteinsGhost]

Originally Posted by pghquest

Tax revenue increases dont necessarily mean tax increases.. Ooh wait, your a lefty, thats all you comprehend..

You're a genius! Having said that, stop assuming and with your childish bickering about leftists, liberals and progressives. Unless that you must rely on to get your point across.

Having said that, tax revenue is expected to increase and it mostly has throughout history. It doesn't take more than a few functioning brain cells to recognize that. Heck, we just collected fewer tax dollars last year than we did in 2000, with far fewer tax payers and a smaller economy. So, it is logical to expect an increase in tax revenue at some point if not now? But that isn't what the need to "Cut Spending AND Increase Tax Revenue" spells. I shouldn't have to spell it out for you.

[BigJon3475]

If they leave the tax rate at current levels and decrease the GDP we can pay a larger share of the GDP in taxes.

That's what's going to happen if we start cutting spending by trillions...