You want to know how to save various sources of federal funding…this will be tougher than you know. You will only get the static analysis not the dynamic analysis…first the state…Ohio could have fired every state employee and not have the books balance in 2011.
You want to know how to save various sources of federal funding…this will be tougher than you know
You will only get the static analysis not the dynamic analysis…first the state…Ohio could have fired every state employee and not have the books balance in 2011
That is just the General Revenue Fund; Transportation is even more doomed…
The youth drive > 7.7%
Core inflator is 5%: Decline in gas usage is 2%
Net loss of 2 pennies of tax
Cash for Clunkers
Fed have propped up Highway trust with $30 B
The tax system is hot
Top 1% has risen to 41.8% in 2008 from 17.4% in 1980
2/3rds income from the top 1% comes from nonwage income, including capital gains, dividends and proprietor's profits. (Docs sub chapter S)
From 1960 to 2000, payroll taxes were never lower than in the previous year, individual income taxes dipped only twice, and corporate taxes dropped 11 times.
Since 2000, individual income and corporate tax revenues dropped five times, while payroll taxes fell twice. Not only do revenues from individual tax returns drop more often now. They fall more severely, with recent collapses of 14%-20% versus the 3%-5% range before 2000.
Just one more thin wafer…
So…taxing the 1% more gives us more volatility
The top 1% hold so much more wealth than traditionally
Currently 90% of income tax comes from the top 10%
90% of wealth dissipated by third generation
The Biology of Humans says tax the 1%…why?
BRS; we have five core values
Fairness will be the battle of this age; more on that in the book section
“It ought to be remembered that there is nothing more difficult to take in hand, more perilous to conduct, or more uncertain in its success, than to take the lead in introducing a new order of things, because the innovator has for enemies all those who have done well under the old conditions, and lukewarm defenders in those who may do well under the new. This coolness arises partly from fear of the opponents - who have the laws on their side - and partly from the incredulity of men, who do not readily believe in new things until they have had a long experience of them.” Nicollo Machiavelli, The Prince