How to End the Deficit & the Public Debt

Hello people. Think the $18 trillion National Debt is impossible to pay off? Think again. I figured out some strategy of solving this problem in 4 or 5 years, and all out of Gradualism:

  1. Currently, we have $3 trillion of tax revenue
  2. We also have $3.5 trillion of government spending
  3. We therefore have a $500 billion deficit
  4. We also have the $18 trillion debt mentioned above.
  5. First I say we replace out entire Federal Tax code with the FairTax legislation, which replaces all income tax with a 23% national sales tax included in sale prices. Small businesses in America [8,000,000] make about $3,500,000 per year of revenue. That makes $28 trillion of taxable revenue, therefore the government would have roughly $6.5 trillion of revenue
  6. Then we cut government spending by 75%, and have the other 25% be entirely for Defense spending, and we privatize all other departments [turn them over to We The People], while removing all the 99% or more of current economy controls & social controls that have nothing to do with stopping violent crime
  7. This will give us a $5,625,000,000,000 annual… SURPLUS! No more deficit. And the removal of controls will motivate people to start working to earn the financial and non-financial keys to the exact lifestyles they desire!
  8. Take that huge number in the 7th step, multiply it by 4 years and you get $22.5 trillion, which we will use, you guessed it, $18 trillion of to pay off the public debt. That way the year 2020 AD sees us having $4.5 trillion of No More debt!

See, lads! Gradualism always triumphs! This solution will work, all we need to do is back off on all rhetoric and all overt passion and focus on gradualism and reformism instead. Thank you all,

~TLD

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