[Cowboy Bob]

Why hike the income tax on those who already pay? Just make the 50% who DNO'T pay income tax to chip in.

[marktwain]

The money that will actually pay for Social Security and Medicare down the road is going to have to come out of future taxes, just as for any other debt of the US.

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Not at all clear that the above statement is true.

The U.S. government can simply create the money out of a thin electron soup. It is what it has been doing for the last 8 years.

Theory says we should be in inflation, big time. But we are not, at least to an appreciable degree, which is where it counts.

[ClearCase_guy]

Normal rules say: hike taxes on the people already paying taxes, and that way we can pay for stuff.

But this clearly will not work.

Okay then: Normal rules do not apply.

So watch Trump solve the problem differently.

[gunsequalfreedom]

It Would Take A 50% Hike in Income Tax to Fund Our Current Deficit.

And how much to retire the debt?

[CodeToad]

That kind of tax hike would kill the economy so even more would be taxed. Fact is, we cannot possibly pay down the deficit with our current spending level.

We can only pay it off by cutting spending. NOTHING in the constitution calls for welfare. Those are Taxation Without Representation.

[ckilmer]

Repubican tax planning is to grow the economy at 3-5% annually. That kind of economy—especially above 4% will throw off the taxes needed to pay down the deficit.

[Attention Surplus Disorder]

John Mauldin ....irrelevant since 2003.

[SaxxonWoods]

Raising taxes by any extreme amount would not accomplish anything but a dead economy and higher debt.

It’s a silly concept to even talk about.

We have a spending problem, not a taxing problem.

[arthurus]

A 50 per cent hike may possibly reduce the deficit. As soon as it is announced it will cause a large rearrangement of income and in the second year a large reduction of revenues to the Federal Government as will as an economic subsidence that will produce a further reduction in revenues.

Proposing a tax hike that would supposedly fund the deficit is no better than proposing printing enough money to fund the deficit, which is what happens anyway.

[taxcontrol]

I have been told but have not done the math, that if the Alternative Minimum tax were rewritten as “everyone pays at least 5%”, we would be be within a fraction of a percent for a balanced budget.

[RetiredTexasVet]

How about lifting the cap on SS wages .... Jimmie Dimon, Buffett, Clintons, Bezos, Cook, Soros, etc. whining about not paying enough taxes ... wait for the screeching!!!!