In reply to Alex Sokolow’s letter to editor (March 7) regarding solving the federal deficit, I wonder how much research Mr. Sokolow did in coming up with these numbers.
I am not a math major, but in looking at the numbers presented, I would challenge his conclusion.
The 2019 federal deficit is about $1 trillion Mr. Sokolow claims that doubling the tax on the top 20% of taxpayers will raise $1.5 trillion per year while paying off the total deficit in five years.
Annually $1 trillion would go to taking care of current-year debt, leaving a half-trillion to reduce total debt.
Current national debt is about $23 trillion. Divide that by a half-trillion annually to reduce debt comes out to approximately 46 years.
Mr. Sokolow, please tell me what I’m missing in your/my math.