CBO Plays "Let's Pretend" on Kerry–Lieberman Scoring | The Heritage Foundation
Hkerryere’s a principles-of-economics question: Suppose the U.S. gross domestic product (national income) is currently $14 trillion. Then suppose the U.S. raised all tariff, income tax, and sales tax rates to 100 percent. How much money would the government collect? If you realized that nobody would generate taxable income under such a regime and answered “zero,” congratulations.