With apologies to John Prine, a wonderful songwriter, this lyric precisely explains the current debt addiction of the US, and like Sam Stone, this addiction will end with an overdose. Here is a great graph of from whence money flows into the US Government and where it goes. Currently the out is running about $2 trillion a year more than the in, which requires no explication in regard to unsustainability. A huge amount of the spending, that part under “health”, is actually Medicaid, and much of the rest is basically welfare payments, most going to people who have no intention of ever attempting to work. We will have to come to grips with this reality. Free health care, free housing, free food, free phones and on and on is not sustainable and feeds on itself by disincenting work.
Rich people really do dodge taxes in a huge amount, primarily through “private” foundations, which they use to spread their favorite ideological poison while avoiding tax. Private foundation deductions need to be eliminated as a big head start on deficit reduction and the current assets need to be whacked with a one-time 50% tax, and a 10% annual one, until the assets are all gone. People don’t understand that the real value of a flat tax, not in rate, but in income taxed, is to ensure that the wealthy pay taxes in the same manner as everyone else. So we can have progressive rate structure, like 5%, 10%, top rate of 15% on all income of any form, with no deductions or exemptions other than for child dependents, and raise more revenue than we currently do while removing the bizarre set of economic incentives the current tax code creates.