If we tax at 100 percent, we still must cut spending
Experts, teacher groups and politicians tell us that we can ease the state shortfall many ways, including allowing casinos in Texas, closing those always-present loopholes for business, tax all Internet sales, begin collecting sales taxes from professionals such as consultants, lawyers, engineers and architects — they forgot doctors, dentists and clergy. Then there’s always the option of adding a state income tax.
So then, we can simply solve the problem by increasing existing taxes and creating new ones. Did you know that if every American was taxed 100 percent of everything he earned, we would still fall way short of the money needed to fund our basic city, state and federal governments?
Do you still think we have an income problem? Or do you think we might just have a spending problem?