At the rate he is spending money, in 3-4 years we will be at $20 trillion debt. At $20 trillion, the income from taxes will only pay the interest on the debt, nothing on the principle. Even if you tax EVERY dollar income from EVERY billionare and millionare, it will only cut the deficit by 10%. Taking EVERYTHING from them will not help. Once they don't have any money, the deficit will STILL be there. Some tax increases MIGHT be necessary for high income earners, HOWEVER MORE CUTS than taxes have to be made.
How do you do this?
1) Growing the PRIVATE economy to produce jobs so more can pay taxes.
2) Eliminate excessive government restraints on business, like the energy business to help create good paying jobs.
3) Lower taxes on manufacturing corporations, like give them a corporate tax break for every new person they hire. This might be lower tax revenues from manufacturers, but individuals would pay taxes. If it is not a trade off, then just the getting people off unemployment, off welfare, off food stamps, would save money so the government can cut back on services.
The government employment can't increase, because it is a parasite on the PRIVATE economy. If everyone worked for the government, who would pay the taxes to pay them? Their taxes would have to be 50% just to pay each other. Kind of stupid.
