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re: US government is running out of money faster than expected, Mnuchin warns
Posted on 7/12/19 at 2:40 pm to Mickey Goldmill
Posted on 7/12/19 at 2:40 pm to Mickey Goldmill
quote:
I pay plentyyyy in income taxes already
What should be cut from the budget? What’s your ideal solution?
Posted on 7/13/19 at 1:07 pm to Magician2
quote:
What should be cut from the budget? What’s your ideal solution?
Here's the thing. The vast majority of tax receipts (~90%) are eaten up by SS, medicare/medicaid, defense, and interest on debt. As the boomers age, it will easily eat up all tax receipts at current tax levels.
Think about that. You could eliminate every other government program and we still can't balance the budget if you don't touch those things. No SNAP, no HUD, no education spending, etc.
We cannot fix things without changing SS, medicare/aid, and defense. It is mathematically impossible.
This post was edited on 7/13/19 at 1:10 pm
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