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.

 

[Dragonlady]

All we hear from Democrats regarding the debt is TAX THE EVIL RICH MORE.

They never say what is "rich", and how much of the total tax bill the evil "rich" need to pay for their utopia.

Here is your chance to provide some specifics.


How much? Give is some numbers:

The top 1% should pay _____% of the total income taxes.

The top 10% should pay _____% of the total income taxes.

The top 50 should pay _____% of the total income taxes.

https://www.usdebtclock.org/

Just reverse the Trump, Bush and Reagan tax cuts. Problem solved.

 

[IM2]

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.

BS.

 

[IM2]

TOP EECTING PEOPLE WHO PEN

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.

Cut military spending. Cut out corporate subsidies.

 

[Dragonlady]

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.

This is wrong in spades. You need to reverse the Republican tax cuts for the wealthy, starting with the Reagan tax cuts which destabilized the markets leading to the 1987 stock market crash.

Then the Bush 43 tax cuts which helped destabilize the markets leading to the 2008 economic crash.

Last but not least, reverse both of the Trump tax cuts which are doubling your deficit.

Add up all of the tax cuts passed by Republican Presidents, and their effect on the deficit and your national debt will be non-existent.

Problem solved, without cutting a dime in spending.

 

[struth]

Just reverse the Trump, Bush and Reagan tax cuts. Problem solved.

And cut revenue? How’s that gonna cut the debt?

 

[Dorian Mode]

We don't have to raise taxes, we have to eliminate all the massive dumocrap fraud schemes and scams. Then we can lower taxes, even abolish the federal tax.

 

[Nostra]

Just reverse the Trump, Bush and Reagan tax cuts. Problem solved.

So you want the rich to pay less of the total income tax burden.

Ok.

 

[Nostra]

This is wrong in spades. You need to reverse the Republican tax cuts for the wealthy, starting with the Reagan tax cuts which destabilized the markets leading to the 1987 stock market crash.

Then the Bush 43 tax cuts which helped destabilize the markets leading to the 2008 economic crash.

Last but not least, reverse both of the Trump tax cuts which are doubling your deficit.

Add up all of the tax cuts passed by Republican Presidents, and their effect on the deficit and your national debt will be non-existent.

Problem solved, without cutting a dime in spending.

The rich pay a higher % of the total tax bill AFTER those cuts, stupid.

You want the rich to pay less.

 

[Dragonlady]

And cut revenue? How’s that gonna cut the debt?

When you reverse tax cuts they INCREASE the revenue, moron.

 

[struth]

When you reverse tax cuts they INCREASE the revenue, moron.

Hahaha no you don’t. Every time tax cuts have happened revenue

Why? Because you increase the tax base

You free up more money to be spent, spent on hiring people, who contribute taxes as well

The power to tax is the power to destroy, raising taxes on income, destroys productive, which kills r revenue

 

[Robert W]

Just reverse the Trump, Bush and Reagan tax cuts. Problem solved.

You think you will get an advantage. So just screw the rich.

 

[Nostra]

Hahaha no you don’t. Every time tax cuts have happened revenue

Why? Because you increase the tax base

You free up more money to be spent, spent on hiring people, who contribute taxes as well

The power to tax is the power to destroy, raising taxes on income, destroys productive, which kills r revenue

The facts show revenue goes up after every major income tax cut, and morons like Dragonlady can't figure out how deficits keep going up.

 

[LoveKimWexler]

All we hear from Democrats regarding the debt is TAX THE EVIL RICH MORE.

They never say what is "rich", and how much of the total tax bill the evil "rich" need to pay for their utopia.

Here is your chance to provide some specifics.


How much? Give is some numbers:

The top 1% should pay _____% of the total income taxes.

The top 10% should pay _____% of the total income taxes.

The top 50 should pay _____% of the total income taxes.

https://www.usdebtclock.org/

I will answer your questions exactly. You probably won't like my answers, but don't say I did not answer.


How much? Give is some numbers:

The top 1% should pay a larger % than they do now of the total income taxes.

The top 10% should pay _a larger % than they pay now of the total income taxes.

The top 50 should pay a larger__% than they pay now of the total income taxes.

There is no political will to cut spending, so the alternative is to raise taxes. The wealthy will be harmed less by raising their taxes than the working class and middle class. They have certainly benefited from the artificial prosperity that deficit spending brings much more so than the people already struggling to pay their middle-class taxes.

As far as exact percentages, I am not an economist who can state a specific percent and then explain why it should not be one percent more or one percent less.

Raise them a little, based on recommendations from people who are economists, and then adjust as needed. Economics are about tradeoffs, both literally and figuratively.

Since I have thoroughly answered your question, please answer mine: If not tax increases, what is your solution to our crushing federal debt.

 

[Nostra]

I will answer your questions exactly. You probably won't like my answers, but don't say I did not answer.


How much? Give is some numbers:

The top 1% should pay a larger % than they do now of the total income taxes.

The top 10% should pay _a larger % than they pay now of the total income taxes.

The top 50 should pay a larger__% than they pay now of the total income taxes.

There is no political will to cut spending, so the alternative is to raise taxes. The wealthy will be harmed less by raising their taxes than the working class and middle class. They have certainly benefited from the artificial prosperity that deficit spending brings much more so than the people already struggling to pay their middle-class taxes.

As far as exact percentages, I am not an economist who can state a specific percent and then explain why it should not be one percent more or one percent less.

Raise them a little, based on recommendations from people who are economists, and then adjust as needed. Economics are about tradeoffs, both literally and figuratively.

Since I have thoroughly answered your question, please answer mine: If not tax increases, what is your solution to our crushing federal debt.

Long winded non-answer.