On the recordJuly 25, 2024
For those trying to take down my words, I am sorry for talking so fast. Tax revenues are projected to be billions of dollars. Once again, I want to make the point that individual income taxes are projected to be up dramatically. Payroll taxes are up fairly substantially. Corporate income taxes are fairly healthy. Other types of receipts are also up. Where I really want to get back to is trying to make this point, and then we are going to do some actual tax history. This is from the CBO, Congressional Budget Office. This is not Republican or Democratic. It is math. One hundred percent of the next 30 years of debt is healthcare and interest, and then, in 10 years, if we backfill Social Security. The rest of the budget is calculated to have an almost $9 trillion positive balance. When was the last time this place actually was willing to have one of the most difficult discussions? About a month, month and a half ago, the Joint Economic economists on the Republican side took the leap and told the truth. We wrote a detailed report about demographics, tax policy, maximizing economic growth. Then we talked about health. This is where I get the crap kicked out of me for telling the truth. Obesity in the detailed line item--and we spent months and months working on these numbers and vetting them--could be as high as $9.1 trillion of additional healthcare costs over the 10 years.…
