Episode 951: Targeting a $2.8 Trillion “Nonprofit” Tax Shelter

Newt talks with Scott Hodge, a tax and fiscal policy fellow at Arnold Ventures. They discuss the U.S. federal deficit and potential revenue sources. Hodge highlights the alarming trajectory of U.S. government spending, which exceeds tax revenues, leading to increasing debt and interest payments that could soon surpass combined defense and domestic program budgets. He proposes expanding the corporate tax base to include large nonprofit organizations that generate significant untaxed income, such as hospitals, credit unions, and universities, which collectively earn $2.8 trillion. This measure could generate approximately $51 billion annually without harming the economy.See omnystudio.com/listener for privacy information.