Home › Forums › Other › For most of you, you’re safe (Tax on Rich) › livinincali wrote: Ok, let’s
[quote=livinincali] Ok, let’s see.
Revenue 2.435 trillion.
Expire tax cuts let’s be generous and add $200 billion. Revenue = 2.635 trillion.
Expire payroll tax for another $120 billion or so. Revenue = 2.755 trillion.
Now for spending $3.563 trillion.
Reduce military by 40% so 676*.4 = $270 billion so spending is now $3.293.
Reduce discretionary by 20% so 1.289*.2 = 257.8 billion so spending is now 3.035.
So we got closer but we need another 3.035-2.755 = $280 billion in cuts or revenue.
It gets pretty hard when you don’t touch entitlements, doesn’t it.[/quote]
Projected revenues for the current fiscal year are over $2.9 trillion. With those cuts, we’ll have a surplus. No entitlement cuts required.
