Tuesday, August 30, 2016

Deficit 37.8% of individual income tax

The budget for 2016 calls for $1,627,837,000 of personal income tax.  If you don’t want to raise payroll taxes (you might think it might hurt employment) then the $615,805,000 deficit is 37.8% of individual income tax.

And that increase is on half the population.  So does that make the economic impact like 75.6%.  I know, that isn’t logical.

I know, let’s soak the rich.

I am so cheery.

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