brainmcfarlane Wrote:
Jan 08, 2013 12:27 PM
We have NEVER collected more than 21.3% of our GDP and that was during WW2 ... when we had a high tax rate of 92-93%. We did collect 20.9% of GDP in 2000 when we had a thriving economy. No matter what the tax rate is we cannot collect 23-24% of GDP which is what we are currently spending. The only realistic way we can even come close to balancing the budget is to cut spending and somehow ignite the economy. But this POTUS has no clue on how to "ignite" and economy or he doesn't want to.