(10-02-2023 11:46 PM)Eagleyed Wrote: I'm perfectly fine with a let's shut down the government until we figure out a budget.
But republicans don't seem to have any interest in figuring out a budget. Probably because all they really seem to want to do is cut taxes, and when you are staring a multi-trillion dollar deficit in the face, cutting taxes is not a viable solution.
You can cut tax RATES by broadening the tax BASE. 40% of a trillion dollars is $400B, 30% of $1.5 trillion is $450B. Eliminate a bunch of exclusions and deductions, and the tax base grows substantially. That's the kind of math that both Bowles-Simpson and Domenici-Rivlin used, and that works. That's also the kind of math that Dick Gephardt and Bill Bradley and Ronald Reagan used in 1986. Europe figured that out in the 1990s and that, along with consumption taxes, is how they generate larger tax revenues as a percent of GDP than we do, without resorting to confiscatory tax rates.
If we adopted a similar approach, we could probably balance our budget with a flat tax rate between 15% and 20%. If we paired that with Bismarck universal private health care/insurance and some kind of universal basic income (UBI) like Milton Friedman's negative income tax (NIT) or the Boortz-Linder prebate/prefund, we could reduce spending at the same time and pay off the debt. How do those things work? Let's say that current health and welfare spending tends toward 75% admin/overhead and 25% benefits. How do you think that the top three counties in the USA for household income, and 7 of the top 12, are in the DC metro area? Let's say that Bismarck and the NIT/prefund/prebate approach could be run for 15% admin/overhead (the standard for private charities). So do the math, for the same money you could provide roughly 3.5 times the benefits.
I would be very happy if the republicans came up with a budget that reduced the deficit and debt while avoiding confiscatory tax rates. But they either don't know how to do that, or are not interested in doing it. Stupid party versus evil party.