As documented by this Heartland Institute report, the Congressional Budget Office in DC recently prepared yet another report documenting how the left’s beloved entitlement programs are simply unsustainable.
"Under current law, rising costs for health care and the aging of the population will cause federal spending on Medicare, Medicaid, and Social Security to rise substantially as a share of the economy. If tax revenues as a share of gross domestic product (GDP) remain at current levels, that additional spending will eventually cause future budget deficits to become unsustainable.
Just how high will taxes have to go to continue these entitlement programs at promised levels?
"The tax rate for the lowest tax bracket would have to be increased from 10 percent to 25 percent; the tax rate on incomes in the current 25 percent bracket would have to be increased to 63 percent; and the tax rate of the highest bracket would have to be raised from 35 percent to 88 percent. The top corporate income tax rate would also increase from 35 percent to 88 percent."
Just imagine what will happen if the liberals manage to turn the entire health care sytem over to the government.