Mohammed’s Proposed Federal Budget: A counterproposal to the GOP budget.
Current budget is projected to be 7 Trillion from OCtober 1, 2024 to September 30, 2025
Profits from Americans and others
5.16 Trillion approx.
Broken Down
2.6 Trillion total a income tax rate of 37 per cent equals.
1.75 Trillion is payroll taxes.
524 Billion is Corporate tax rate at 7 percent.
179 Billion is Other tax rate equaling about 3 per cent of income.
80 Billion from Tariffs about 1 percent of taxable income.
7 Trillion – 5.16 Trillion = (1.8 Trillion) Owed by America.
1.865 Trillion or 27 of the remainder tax burden is uncollateralized debt placed on US the American people.
That math makes no sense.
My solution is simple.6
50/30/20 Budget.
50 cents of every dollar for housing, bills and living expenses.
30 cents of every dollar earned for savings and universal investments.
20 cents on every dollar taxed across the board.
from that 20 percent taxed.
A renegotiation with our creditors to pay no more than 20 per cent of our income as we collect to pay of the deficit.
In 10 years a majority of the deficit may be eliminated.
And we can discuss revving up our economic engines.
I do not need 1000 pages to tell you that.
Sincerely,
Mohammed Lodhi Hussain
Editor.