A challenge for the "Tax the rich more" crowd.

[Jarlaxle]

Easy to say, tough to do. So where do you want to cut?

Everything. Fire up the chainsaws and start slashing.

 

[task0778]

You know what happens when you raise taxes? Congress spends it, no matter who controls Congress or who is in the WH. It's crazy, nobody cares about a yearly deficit that approaches $2 trill. I hafta laugh, they reduce the deficit from $2 trill down to $1.9 trill and then tell us they cut spending and reduced the debt.

Raising taxes and revenue will solve absolutely nothing until spending is brought under control, meaning at least not more than revenue. And there ain't many people in either party that will do that, they'll talk the talk but won't do it. Personally, I think there's an economic shitstorm coming. Don't know when but it's gonna be bad.

 

[Nostra]

You know what happens when you raise taxes? Congress spends it, no matter who controls Congress or who is in the WH. It's crazy, nobody cares about a yearly deficit that approaches $2 trill. I hafta laugh, they reduce the deficit from $2 trill down to $1.9 trill and then tell us they cut spending and reduced the debt.

Raising taxes and revenue will solve absolutely nothing until spending is brought under control, meaning at least not more than revenue. And there ain't many people in either party that will do that, they'll talk the talk but won't do it. Personally, I think there's an economic shitstorm coming. Don't know when but it's gonna be bad.

Controlling spending will never happen without a balanced budget amendment……..which will never happen.

 

[task0778]

Controlling spending will never happen without a balanced budget amendment……..which will never happen.

Sad but true.

 

[ThisIsMe]

OK. There are other ways to fix it,
1. Bring back the "Death Tax", excluding family farms and small businesses
2. Add a new 2% transaction tax on all financial transactions. (Kills the computer trade scams, buys/sells in fractions of seconds)
3. Implement the DOGE recommendations, saves $213b
4. Eliminate all tax deductions
5. End cash subsidies, (corporate welfare), buy stock and keep in Sovereign Fund to benefit taxpayers
6. Remove the capital gains tax break for stock sales
7. The "break glass" option is to put on a 3% Federal Sales Tax.

So no "wealth tax", but there are alternative options to balance the budget and start paying down the debt.

Again, spending cuts are the ONLY way to do it. What happens when government sees a new pool of money? They become like a kid in a toy store….they see all sorts of things they can spend that new money on.

If you confiscated 100% of all the wealth in America from the top 10%, it wouldn’t change a thing. Government would simply spend it on new projects.

The debt will never be paid down.

 

[Nostra]

Everything. Fire up the chainsaws and start slashing.

Balancing the budget with just spending cuts would be easy.


But it will never happen.

Only a complete idiot would say we need to keep sending them more and more.