With Elon’s plan to attempt to eliminate up to 80% of federal agencies and regulations, this will eventually free up a significant portion of tax dollars that were formerly being used to fund these wasteful agencies. I would recommend using these tax dollars in the following order:
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first, eliminate our staggering federal budget deficit of nearly $2T.
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second, shore up Medicare and Social Security for all future generations AFTER structurally reforming them to be available only to people in this country legally and who pay taxes that help to fund these programs.
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third, eliminate federal taxes on social security for retirees and eliminate federal taxes on tips and overtime.
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fourth, pay down the national debt until the debt is less than 50% of GDP.
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fifth, enact broad based income tax cuts, with particular emphasis on the middle class earners, but the tax cuts should apply to ALL income brackets.
Finally, as these reforms take hold and people see what happens when you unlock the American economy from stifling regulation and bureaucracy, push for a Constitutional balanced budget amendment so that future feckless politicians and their lobbyists cannot undo the hard work that has been done.