Comment Re:Just balance the budget. (Score 1) 121
Pretty sure that all taxes are paid by humans in one form or another, I don't think robots are paying taxes yet. Sure you can tax a corporation, but you are just indirectly taxing the shareholders, and they are people too.
You vastly overestimate the taxation capacity of the economy. Go read the fed's papers on optimal taxation and you will see that the US is close to the optimal rate right now. The theory of optimal taxation is to maximize tax collections over time. Sure you can raise taxes a lot right now, but if you do that people stop investing and you lose future taxes. Optimal taxation theory shows how to maximize the combination of current and future taxes.
Since we are sitting pretty close to the optimal number currently, we need to reprioritize spending, not just spend more. Spending more simply increases the debt. Increasing the debt increases interest expense. And the more the government spends on interest, the less it can spend on other priorities.