What percentage of all income tax collection should the top 1 percent pay? Top 10 percent?
Tax revenues currently run about 16 percent of GDP from the Feds.
Currently projected to go to 20 percent of GDP in the near future.
What your saying is 20 percent is not enough for the feds.
This does not include State and local taxes that take another big chunk.
Do you really belive if the taxes being recieve went up that the feds would responsibly apply it to the deficit ? They would spend it and borrow even more on anything that they could conjur up, it would not go to shoring up stuff like SS or Medicare or making payments on reducing the debt.
Going up on corporate and bussiness taxes would only increase the burden on the individual consumer who would have to pay for that increase in products and services to cover the increase costs that the companies would charge them.
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