Federal Taxes, growth rate. This is how much our federal taxes grow each year, typically 5-10%. Notice that growth in taxes due has been quite erratic under the Obama regime, and under the lil Bush regime. In fact, the only time it has been stable was the Bill Clinton regime.
But, anyway, its not sustainable because at 5% tax growth with a 2.2% real GDP we should be seeing a surplus soon. Where is it? Also, half of this is middle class taxes, the Obamacare taxes. Note that the DC caused recessions since 1990 have taken an increasingly large hit on taxes, the government could very well shut down at the next recession, planned for 2016 Q1, according to the Kanosians.
Taxes will be a Republican issue, once again this year. Obamacare has won three elections for the Republicans, and with DC facing this humongous California Obamacare bill, the Republicans have a real issue. California has the stupidest legislature in the nation, I think. Once the recession hits, taxes are gone, the public sector gets laid off. Texas is not going to bail out California.
PS Do not believe the Obamacare numbers coming from Sacramento, those are pure fiction.
No comments:
Post a Comment