Talk of The Villages Florida - View Single Post - Taxes are going to have to go up
Thread: Taxes are going to have to go up
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Old 07-18-2012, 10:22 PM
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Originally Posted by Villages Kahuna View Post
The Congressional Budget Office published a report last year saying that, at current tax rates our economy would have to grow at the rate of 10% per year for fifty straight years to generate enough tax revenue to balance the budget.

Our current rate of economic growth (GDP growth) is around 2% and the country has never in history had a full year of 10% growth in GDP.

Does that help answer your question?
well, it makes me think that's why the president doesn't do much to support growth in the private sector since your numbers seem to indicate there doesn't seem to be much of a point in doing so!