Tax Reform, Subsidies, Expiration of Tax Cuts?

schweikert.house.gov

Daily Projected Revenue Increase if Tax Cuts Are

Repealed

Daily Projected US Deficit for FY2011

0

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

$92 Million/Day

$4.7 Billion/Day

Daily Revenue Increase v. Daily Deficit

(In Millions)

Source: Congressional Research Service

The tax cuts for all Americans account for about 28 minutes of the $4.7 billion in new daily debt accrued by the United States each day.

schweikert.house.gov

Fossil Fuel Subsidies FY2011 Green Fuel Subsidies FY20110

1

2

3

4

5

6

7

8

9

$2.44 Billion

$8.72 Billion

FY2011 Energy Subsidies in the US

(In Bil-lions)

Source: Congressional Research Service

Raise taxes on the wealthy?

Source: David Ranson, head of research at H.C. Wainwright & Co. Economics Inc.

By 2031 – all revenue will go to Entitlement Spending

By 2055 – all revenue will go to interest on the debt alone

WITHIN OUR LIFETIME…OR THAT OF OUR CHILDREN

Debt limit has been raised more than 70 times since the “limit” was put in place.

How do we insure that 14 trillion dollars of debt is enough?

DEBT LIMIT

Incentivizing BusinessWhen businesses and entrepreneurs can invest,

unemployment goes down:

Source: Congressional Budget Office, Dr. Taylor (Stanford), Dep. of Commerce, Dep. of Labor

To Preserve the American Legacy