The Federal government must set a percent of GDP which will be the maximum that can be spent outside of wartime or recession. Tax rates should be set to collect one percent more than the spending ceiling, with progressive rates starting at zero for people below the poverty line to whatever is necessary to cover the planned spending. The extra percent covers a rainy day fund for recessional or is used to speed up debt reduction. Congress can spend less at anytime but not more without adjusting tax rates as well.
Why is this important?
Set a percent of GDP as the maximum the government can spend outside of wartime or using recession, set tax rates to ollectbone percent morethannthe spend rate.
