[MontaniSemperLiberi]

No, we are not at point B.

We are at Point A.

Revenues this year are expected to be about 15% of GDP. Typically it sits at 18.5% of GDP. The best way to eliminate the deficit is by cutting spending. Yet there is room to increase taxes. By increasing taxes to 18.5% of GDP , it would bring in about $490billion, going 1/3 of the way to eliminating the deficit. The other 2/3rds is going to have to come from cuts.

[Pollster1]

Revenues this year are expected to be about 15% of GDP. Typically it sits at 18.5% of GDP. The best way to eliminate the deficit is by cutting spending. Yet there is room to increase taxes. By increasing taxes to 18.5% of GDP , it would bring in about $490billion, going 1/3 of the way to eliminating the deficit. The other 2/3rds is going to have to come from cuts.

I disagree. The tax rates (combined with fear of tax increases and lawless government seizures) are high enough that they are cutting into revenue. We can cut rates to establish trust and increase the incentive to innovate, and that will boost revenue.