Tag: government spending

US Deficits

The meme passing ’round is that the US deficit is going to be cut by 50% in the next four years. Many are throwing the bullshit flag over revenue projections (i.e. incoming tax payments), saying it just can’t be done. I’m here to say it’s all good…

US Deficit Projection

It’s easy to cut the gap in half over four years when you quadruple it in the first.

I guess deficits really don’t matter after all.

Get ready for a shakedown

Forbes’s Janet Novack says “Forget the promises. The government will grab lots more of your money.

One of the suggested solutions…a value-added tax. Hard to say whether or not a VAT would cripple an economy driven primarily by consumer spending, but that is certainly what folks start screaming whenever a VAT is mentioned. And, you don’t see significant personal savings in countries that employ VATs (or at least I don’t, so please enlighten me on success stories if there are any).

On a related note, Jerry Bowyer asks “What if Steve Forbes Had Won the Election?” (h/t Glenn Reynolds). Not sure I agree with Mr. Bowyer’s steadfast conclusions, but it would be interesting to see some well thought out pro-formas, looking back, under a flat tax.