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Old 10-15-2007, 06:45 PM
bobman0330 bobman0330 is offline
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Default Re: Ron Paul on taxation?

[ QUOTE ]
Only 41% of the Federal Budget comes from the Income Tax. If we cut spending back to year 2000 levels then we could go without an Income Tax. The plan is to get rid of the Income Tax and replace it with nothing.

[/ QUOTE ]

source

In 2006,

Individual IT brought in $1,044 B.
Corporate IT brought in $354 B.
Retirement program receipts were $838 B.
All other revenue was $172 B.

Total = $2407 B.

So individual IT brought in 43% of total revenues. But repealing the 16th Amendment and disbanding the IRS will require getting rid of the corporate IT too, which brings us to 58% of total revenue.

Now, what about retirement income? Unless the plan is to replace the IT with a stealth highly regressive payroll tax, SS stuff needs to be counted separately. So IT really accounts for 89% of non-SS receipts.

Even if we generously assume that SS and all payroll-tax-funded programs are canceled or balance out, how could we conceivably run even a limited government on $172 billion, which is about 18% of current DISCRETIONARY funding (excluding SS, Medicare, etc.)?
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