Republican presidential candidate brought withering criticism onto himself this week with his remarks that surfaced from a private fund-raiser (see first picture). During the same speech he also said (I’m paraphrasing) ‘if I get elected as president the economy will do better even if I do nothing’. Really? The United States is spending $1.3 trillion every year that it does not have, adding to the $16 trillion national debt.
The ‘Briefing’ page from TIME magazine’s latest edition.And here is a diagram published by TIME magazine’s Sept 17, 2012 edition. Looks to me as if the Corporate Income taxes ‘coin’ could be bigger, as does the Income Taxes one (just because there are no other big Receipts), and then on the Payments side, Defense could be smaller. There is an on-going and bitter political debate about Income Security, Medicare and ‘Other’ payments.
