Anthony Scaramucci Proposes Fiscal Plan to Address U.S. National Debt
Anthony Scaramucci has outlined a fiscal plan aimed at addressing the growing U.S. national debt, which is projected to reach $56 trillion by 2036, or 120% of GDP. His proposal, detailed in his new book, draws parallels to the 1993 fiscal policies under President Bill Clinton, which led to economic expansion and a budget surplus. Scaramucci's plan includes restoring the 39.6% top income tax rate for earnings above approximately $450,000, taxing capital gains at death, and closing the carried interest loophole. He also suggests raising the corporate tax rate from 21% to 25% and applying payroll tax to wages exceeding $250,000. Additional measures include a 5% value-added tax with a rebate for working families, ending Medicare Advantage overpayments, continuing to negotiate drug prices, and gradually increasing the retirement age for younger workers. The plan also advocates for pay-as-you-go rules and spending caps to ensure fiscal discipline. Scaramucci estimates these measures could save about $6.7 trillio...
