taxpayer's gross income for such taxable year with respect to such security ("Net Interest Expense"). In any taxable year in which the taxpayer has Net Interest Expense with respect to a particular security, such Net Interest Expense is not deductible except to the extent that it exceeds the amount of market discou

with 31% in 1980 and 20% in 1970. ¢ Using current projections, 100% of America’s revenue in 2025 will go to Social Security, Medicare, Medicaid and Net Interest Expense. ¢ This raises the question, ‘How will America pay for the likes of education, national defense, homeland security, infrastructure improvement, R&D,