If we taxed Exxon and the top one or two percent of the wealthy at normal rates for a developed nation, our deficit would disappear. We don't need to cut anything. We are still a phenomenally wealthy nation. Our gdp is one fourth of the entire wealth generated on the planet. We have the money. We don't have the will to demand that the richest pay their share.
A flat tax is regressive, so i have never supported it. But damn, now it would be a good thing. It would solve this problem in about a second.
This is not a REAL problem. We are not out of money. We are not poor. The question is how badly are we going to damage our country and the global economy before we face the inevitable.
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