Simpson:"Tax increases are necessary" (user search)
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  Simpson:"Tax increases are necessary" (search mode)
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Author Topic: Simpson:"Tax increases are necessary"  (Read 1744 times)
krazen1211
Junior Chimp
*****
Posts: 7,372


« on: April 18, 2011, 09:26:57 AM »

I never had any problem with getting rid of the Bush tax cuts.  But keep in mind that the US has never, during its history, collected more than 20% of GDP in revenue.

Moreover, in order to avert fiscal catastrophe in the next couple of years (3-5 max), you're going to have to cut at least 1/3rd of the present-day budget (ignoring the usual yearly increases), probably closer to 1/2 and this is basically going to require dismantling Medicare and Medicaid in present form, and remaking Social Security, not to mention getting rid of this silly new health care law for something that actually makes fiscal sense.

No, and this doesn't mean the Ryan nonsense, which simply tries to transfer Medicaid costs onto the states, much like Obamacare does also.


States have already been doing that. State revenues have skyrocketed from 8.72% of GDP in 1990 to 11.15% of GDP in 2007.
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krazen1211
Junior Chimp
*****
Posts: 7,372


« Reply #1 on: April 18, 2011, 10:05:13 AM »

Seems to go up about 1% per decade.


http://www.usgovernmentrevenue.com/downchart_gr.php?year=1980_2016&view=1&expand=&units=p&fy=fy12&chart=F0-state&bar=1&stack=1&size=m&title=&state=US&color=c&local=s

Fiscal Years 1980 to 2016         
Total Direct Revenue      Total Direct Revenue -state   
      pct GDP   
1980      7.63   
1981      7.68   
1982      8.05   
1983      8.06   
1984      8.03   
1985      8.28   
1986      8.58   
1987      8.75   
1988      8.52   
1989      8.58   
1990      8.72   
1991      8.62   
1992      9.07   
1993      9.25   
1994      8.99   
1995      9.32   
1996      9.51   
1997      9.71   
1998      9.81   
1999      9.61   
2000      9.91   
2001      8.5   
2002      7.16   
2003      8.38   
2004      10.05   
2005      9.77   
2006      10.11   
2007      11.15   
2008      8.16   
2009      4.41   
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krazen1211
Junior Chimp
*****
Posts: 7,372


« Reply #2 on: April 18, 2011, 10:07:47 AM »

what was the %GDP of federal income tax in jan 1981 compared to jan 1989?

Fiscal Years 1980 to 2016         
Total Direct Revenue      Total Direct Revenue -fed   
      pct GDP   
1980      18.55   
1981      19.17   
1982      18.99   
1983      16.99   
1984      16.95   
1985      17.4   
1986      17.25   
1987      18.04   
1988      17.83   
1989      18.08   
1990      17.79   
1991      17.61   
1992      17.21   
1993      17.31   
1994      17.76   
1995      18.23   
1996      18.54   
1997      18.95   
1998      19.58   
1999      19.54   
2000      20.35   
2001      19.36   
2002      17.41   
2003      16   
2004      15.84   
2005      17.04   
2006      17.96   
2007      18.24   
2008      17.57   
2009      14.91   
2010      14.75   
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