• How to pay down the US national debt with a simple Flat tax

    From John Dillinger@21:1/5 to All on Fri Nov 17 14:35:17 2023
    XPost: or.politics, ca.politics, alt.fan.rush-limbaugh
    XPost: talk.politics.guns

    1. Congress will have to reduce the interest rate by law to 1% on bonds
    and forbid any further borrowing..
    2. Everyone with income will pay a flat tax of 5% of ALL their annual
    income, even Social Security recipients and illegal aliens.
    3. Approximately 200 Million people in the US will pay the flat tax.
    4. 200,000,000 people X 5% of the average income of $55,400 annually which
    will equal $2,770 annually.
    5. The tax payments will last for 50 years. (50 X (200,000,000 X $2,770) =
    $27T
    6. A lot of the debt is internal government debts and they will be written
    off.
    7. People on Medicare will have to accept steep cuts in covered medical procedures. The US shouldn't spend 100's of billions of dollars on people
    that are close to death.

    Now I will solve the crisis in the Middle East...

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