Wait a minute I didn't know we have a
Federal Comptroller General"The picture I will lay out for you today is not a pretty one and it’s getting worse with the passage of time," said David M. Walker, Comptroller General of the United States, in a Thursday morning hearing of the Senate's Budget Committee. "Continuing on our current fiscal path would gradually erode, if not suddenly damage, our economy, our standard of living, and ultimately even our domestic tranquility and our national security," he warned.
His advice?
The head of the GAO also warned that if no action is taken now to control government spending, severe tax hikes could be necessary. He stated that, "balancing the budget in 2040 could require actions as large as cutting total federal spending by 60 percent or raising federal taxes to 2 times today’s level."
I prefer jacking taxes, federal income taxes to the super-rich and the corporations while giving the real hard workers, the working poor and the average american a huge tax break. Congress should take no chances and just follow his advice. And while you at it, scrap the 1986 Internal Revenue Code and make a new simplier code.
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