General Discussion
In reply to the discussion: Stephen King: Tax Me, for F@%&’s Sake! [View all]exboyfil
(18,371 posts)the classroom to become a multi-millionaire author? He could be saying this in High School English classes (just joking about staying in the classroom).
I wonder if he could not put his considerable literary talents to crafting a realistic dystopia novel about what the world would be like if the Tea Party ruled the roost (I know it has been done in other books like The Handmade's Tale, but it could start by going forward from the next election).
The number I come back to is that if you divide the Defense (and related Defense expenses in other departments) budget up on an adult per capita basis, it comes to $3,800/person. My wife and I paid slightly more in federal taxes than our prorated share ($8K) last year, and we are in the top 20% of family income. The total budget sans Social Security is about $1,485T and about half of that amount is Defense related.
Any way you cut it we are not paying enough in federal taxes. I am not sure you are going to get enough by just taxing millionaires though. I would prefer not to pay more in taxes, and the money would come what we are saving for the kids for college. I want us to spend less particularly in defense. Given how much money is already spent on the federal level, I think carefully crafted single payer could also get us significant savings (assuming a revenue stream from additional payroll taxes).