INSTANTLY fix the US: How Obama/Romney could win instantly; Fix US debt overnight

[bucs90]

Some simple math on how the richest 5% of Americans.....could instantly fix our national debt. And how Romney or Obama could capitalize on this fact.

The US set a record last year for total number of millionaires (U.S. Has Record Number of Millionaires - The Wealth Report - WSJ) at 3,100,000 (about 1% of the population). They had a combined wealth of about $11,000,000,000 (trillion).

US national debt is about 16 trillion. (U.S. National Debt Clock : Real Time).

Now, if the top 1% of Americans, all millionaires with 11 trillion in total wealth, EACH dedicated 1,000,000 in ONE single contribution to the country.......in one year, overnight with one collective act, the top one percent of earners in this nation would cut the national debt by 20% instantly.

And what if we asked the top 5% to do the same, but a bit less for each step? Say the top 2-5% each contribute 500,000, or 250,000??? Thats about 15,000,000 people. If each of those top 5% gave 500,000.......thats another 7.5 trillion dollars.

Combined...thats over half the national debt GONE, instantly.

It would be voluntary. A massive collective effort. An epic act equal to World War 2. Literally SAVES our nation. Romney or Obama could call for this epic, unselfish act. Pass a bill that says once these brave, heroic private citizens reach that total voluntarily, the federal govt automatically kicks in spending cuts of equal proportion until this damn thing is balanced and the debt gone.

Some would be angered by this very notion.

- "It aint fair"
- "It aint my job to pay the debt"
- "Why me, why dont the bottom half pay??"

Well, like I said, this would be an effort economically that would equal the WW2 generations effort to save this country. Would we be up to it? What if after we asked the top 5%, we then asked the top 10% to pitch in another contribution? The top 6%-10%, abuot another 15 million people, could kick in 100K each. Thats another 1.5 trillion GONE from the debt!!!!

And what if...God help us.....we asked the top 10% to do this 2 years in a row. We looked to them as the true saviors of our nation, and they equalled the effort we put out in WW2 to save this nation. They could erase the debt in 2 years. Gone. Add in the Fed's agreed-upon cuts in spending.....and wow, what a potential miracle.

Any chance the top 1%, then top 5%, then top 10% of wealth earners in this nation would make the personal sacrifice to save this nation? Our military has been doing it for centuries. Our teachers, cops, firemen have been doing it to save our communties for centuries.

Now is the time that the financial and economic kings of our land COULD step up, and put forth this herculean effort to save this country.

Damn, you are even dumber than I thought.

Just because someone has a million dollars on paper does not mean they have liquid. Most of those millionaires would have to sell their homes to be able to pay your "voluntary donation." That would cause a massive downward impetus in the price of housing when the supply suddenly massively exceeds the demand. The negative impact this would have on the economy would echo throughout the world, decrease overall government revenue, lead idiots like you to demand more government spending, and, ultimately, result in an increase in the deficit.

Oh. So when rich folks have to take their money out of the market and downsize, it crumbles the world. So what happens when governments stop hiring and spending? Thats still money thats no longer in the market, but instead in some rich dude's portfolio.

I knew this was a dumb fucking idea. That was my point, to show how stupid the idea of slashing govt with a butcher knife is. Real people with real paychecks...that are no longer there because we "cut tha gubamint!!".

 

[auditor0007]

Fine, cut the defense budget by 50%.

I have little problem with that.

Why? Its tough on everyone out there. EVERYONE in the private and public sectors are hurting. IT's just reality.

- We pay for OFF BASE apartments. Why? The rest of us dont get that.
- We pay for IN COUNTRY haircuts, and food, and clothing. Why? We dont get that??
- We pay for lifetime healthcare and a 20 year retirement with pension. THats a sweetheart deal at the expense of the taxpayers.

There is so much waste in the military and DoD. Cut it....like the rest of us have to do.

Bucs, you are all over the place here. I said I have little problem with cutting military spending in half.

 

[Quantum Windbag]

Some simple math on how the richest 5% of Americans.....could instantly fix our national debt. And how Romney or Obama could capitalize on this fact.

The US set a record last year for total number of millionaires (U.S. Has Record Number of Millionaires - The Wealth Report - WSJ) at 3,100,000 (about 1% of the population). They had a combined wealth of about $11,000,000,000 (trillion).

US national debt is about 16 trillion. (U.S. National Debt Clock : Real Time).

Now, if the top 1% of Americans, all millionaires with 11 trillion in total wealth, EACH dedicated 1,000,000 in ONE single contribution to the country.......in one year, overnight with one collective act, the top one percent of earners in this nation would cut the national debt by 20% instantly.

And what if we asked the top 5% to do the same, but a bit less for each step? Say the top 2-5% each contribute 500,000, or 250,000??? Thats about 15,000,000 people. If each of those top 5% gave 500,000.......thats another 7.5 trillion dollars.

Combined...thats over half the national debt GONE, instantly.

It would be voluntary. A massive collective effort. An epic act equal to World War 2. Literally SAVES our nation. Romney or Obama could call for this epic, unselfish act. Pass a bill that says once these brave, heroic private citizens reach that total voluntarily, the federal govt automatically kicks in spending cuts of equal proportion until this damn thing is balanced and the debt gone.

Some would be angered by this very notion.

- "It aint fair"
- "It aint my job to pay the debt"
- "Why me, why dont the bottom half pay??"

Well, like I said, this would be an effort economically that would equal the WW2 generations effort to save this country. Would we be up to it? What if after we asked the top 5%, we then asked the top 10% to pitch in another contribution? The top 6%-10%, abuot another 15 million people, could kick in 100K each. Thats another 1.5 trillion GONE from the debt!!!!

And what if...God help us.....we asked the top 10% to do this 2 years in a row. We looked to them as the true saviors of our nation, and they equalled the effort we put out in WW2 to save this nation. They could erase the debt in 2 years. Gone. Add in the Fed's agreed-upon cuts in spending.....and wow, what a potential miracle.

Any chance the top 1%, then top 5%, then top 10% of wealth earners in this nation would make the personal sacrifice to save this nation? Our military has been doing it for centuries. Our teachers, cops, firemen have been doing it to save our communties for centuries.

Now is the time that the financial and economic kings of our land COULD step up, and put forth this herculean effort to save this country.

Damn, you are even dumber than I thought.

Just because someone has a million dollars on paper does not mean they have liquid. Most of those millionaires would have to sell their homes to be able to pay your "voluntary donation." That would cause a massive downward impetus in the price of housing when the supply suddenly massively exceeds the demand. The negative impact this would have on the economy would echo throughout the world, decrease overall government revenue, lead idiots like you to demand more government spending, and, ultimately, result in an increase in the deficit.

Oh. So when rich folks have to take their money out of the market and downsize, it crumbles the world. So what happens when governments stop hiring and spending? Thats still money thats no longer in the market, but instead in some rich dude's portfolio.

I knew this was a dumb fucking idea. That was my point, to show how stupid the idea of slashing govt with a butcher knife is. Real people with real paychecks...that are no longer there because we "cut tha gubamint!!".

You did not even read my post, did you? How is selling their houses anywhere close to taking their money out of the market?

 

[bucs90]

Damn, you are even dumber than I thought.

Just because someone has a million dollars on paper does not mean they have liquid. Most of those millionaires would have to sell their homes to be able to pay your "voluntary donation." That would cause a massive downward impetus in the price of housing when the supply suddenly massively exceeds the demand. The negative impact this would have on the economy would echo throughout the world, decrease overall government revenue, lead idiots like you to demand more government spending, and, ultimately, result in an increase in the deficit.

Oh. So when rich folks have to take their money out of the market and downsize, it crumbles the world. So what happens when governments stop hiring and spending? Thats still money thats no longer in the market, but instead in some rich dude's portfolio.

I knew this was a dumb fucking idea. That was my point, to show how stupid the idea of slashing govt with a butcher knife is. Real people with real paychecks...that are no longer there because we "cut tha gubamint!!".

You did not even read my post, did you? How is selling their houses anywhere close to taking their money out of the market?

As in how it relates to slashing govt employees, who then cant buy homes themselves. Thus....also contributing to keeping the housing problem going.

That was my point. Slashing govt waste is ok, but slashing govt jobs and pay hurts the economy...just as much as "asking" the top 10% to suddenly throw 50% of their assets away would be stupid. That was the whole point.

 

[bucs90]

I have little problem with that.

Why? Its tough on everyone out there. EVERYONE in the private and public sectors are hurting. IT's just reality.

- We pay for OFF BASE apartments. Why? The rest of us dont get that.
- We pay for IN COUNTRY haircuts, and food, and clothing. Why? We dont get that??
- We pay for lifetime healthcare and a 20 year retirement with pension. THats a sweetheart deal at the expense of the taxpayers.

There is so much waste in the military and DoD. Cut it....like the rest of us have to do.

Bucs, you are all over the place here. I said I have little problem with cutting military spending in half.

I bet we could easily cut the military budget by 40% and still maintain a war ready force. May have to leave German, and Japan, and South Korea, and a few dozen other countries we fought decades ago. May have to slash a lot of non-essential jobs, like dentists, gym attendants, etc, that the private sector could do. May have to slash benefits and raise retirement age.....to about what "the rest of us" have.

I dont think China is gonna invade us. Neither is Russia. But we could keep enough of a force to defend ourselves. The rest? The world isn't the same as it was 50 years ago. It's more of a security/law enforcement world now, I dont think we'll ever see the days of having rows of tanks squaring off and naval fleets gunning it out on the open sea with each other. Time to cut that shit.

 

[Avatar4321]

When you cut taxes and cut spending, you encourage private market growth. The Harding/Coolidge administrations did that and they had unprecedented growth. The only time we have recorded close to 2% unemployment. When government isnt choosing winners and losers, the market has can run more efficiently encouraging business growth and expansion. Those people who are no longer working in the government end up instead doing work in the private sector that creates value for society instead of taking a pay check for doing something that produces no value.

 

[bucs90]

When you cut taxes and cut spending, you encourage private market growth. The Harding/Coolidge administrations did that and they had unprecedented growth. The only time we have recorded close to 2% unemployment. When government isnt choosing winners and losers, the market has can run more efficiently encouraging business growth and expansion. Those people who are no longer working in the government end up instead doing work in the private sector that creates value for society instead of taking a pay check for doing something that produces no value.

So you're saying a US Marine or Navy SEAL is of "no value" to society?

Please say you're not gonna take that stand.

I spent 8 years serving the people of Atlanta in a damn patrol car hoping I'd go home safe at the end of shift, doing some of the shittiest work and seeing the darkest side of humanity within our borders anyone would ever wanna see. I was injured in the job, and had a friend die on the job.

Dont tell me that society has "no value" for people who wear a gun and risk their lives for fat asses, dumbasses, douche bags and all the other people living in la-la land working regular jobs.

 

[auditor0007]

Why? Its tough on everyone out there. EVERYONE in the private and public sectors are hurting. IT's just reality.

- We pay for OFF BASE apartments. Why? The rest of us dont get that.
- We pay for IN COUNTRY haircuts, and food, and clothing. Why? We dont get that??
- We pay for lifetime healthcare and a 20 year retirement with pension. THats a sweetheart deal at the expense of the taxpayers.

There is so much waste in the military and DoD. Cut it....like the rest of us have to do.

Bucs, you are all over the place here. I said I have little problem with cutting military spending in half.

I bet we could easily cut the military budget by 40% and still maintain a war ready force. May have to leave German, and Japan, and South Korea, and a few dozen other countries we fought decades ago. May have to slash a lot of non-essential jobs, like dentists, gym attendants, etc, that the private sector could do. May have to slash benefits and raise retirement age.....to about what "the rest of us" have.

I dont think China is gonna invade us. Neither is Russia. But we could keep enough of a force to defend ourselves. The rest? The world isn't the same as it was 50 years ago. It's more of a security/law enforcement world now, I dont think we'll ever see the days of having rows of tanks squaring off and naval fleets gunning it out on the open sea with each other. Time to cut that shit.

We spend more on military spending than the next 14 highest countries combined, basically every major power in the world combined. Enough said.

 

[bripat9643]

Now, if the top 1% of Americans, all millionaires with 11 trillion in total wealth, EACH dedicated 1,000,000 in ONE single contribution to the country.......in one year, overnight with one collective act, the top one percent of earners in this nation would cut the national debt by 20% instantly.

Obama will add twice that amount to the debt in the next 4 years if he's reelected. It appears the prerequisite for your plan to work is to get him out of office.

 

[OODA_Loop]

Conservatives who bitch about the deficit as their #1 political issue would sooner douse their genitals in gasoline and set them on fire than pay an extra nickel to do a damned thing about it.

How many extra nickels did you pay in 2011 ?

 

[SniperFire]

LOL

Get a job, freeloaders.

 

[Quantum Windbag]

Oh. So when rich folks have to take their money out of the market and downsize, it crumbles the world. So what happens when governments stop hiring and spending? Thats still money thats no longer in the market, but instead in some rich dude's portfolio.

I knew this was a dumb fucking idea. That was my point, to show how stupid the idea of slashing govt with a butcher knife is. Real people with real paychecks...that are no longer there because we "cut tha gubamint!!".

You did not even read my post, did you? How is selling their houses anywhere close to taking their money out of the market?

As in how it relates to slashing govt employees, who then cant buy homes themselves. Thus....also contributing to keeping the housing problem going.

That was my point. Slashing govt waste is ok, but slashing govt jobs and pay hurts the economy...just as much as "asking" the top 10% to suddenly throw 50% of their assets away would be stupid. That was the whole point.

Not slashing government hurts the economy more.

 

[daveman]

Conservatives who bitch about the deficit as their #1 political issue would sooner douse their genitals in gasoline and set them on fire than pay an extra nickel to do a damned thing about it.

OWS park-shitters who bitch about rich people are ENTITLED to what other people earned.