Do you support a 1% Federal Wealth Tax to pay down the $39T National Debt? (Poll)

[Couchpotato]

Do you understand how the percent to GDP metric works? Expenses have gone up from 21.0% to 23.4% Here is what has happened since 2020 in expenses:

Its half interest expense increases and half Boomer retirement and medical.

The spending on running the government didn't go up until the BBB takes hold next year. Trump is spending more on defense and homeland. For now. Its been going down.

View attachment 1229088

Have the costs to run the Government doubled since 2020. It's a simple question.

 

[Couchpotato]

Welfare programs (e.g., TANF, SNAP) are means-tested, temporary assistance for low-income individuals, whereas entitlement programs (e.g., Social Security, Medicare) guarantee benefits based on age or contributions. While entitlement programs are legally required, many welfare programs are discretionary, restricted by funding, or have time limits.

{Damn you can get so-called AI to give any answer you want. Hahahaha....]

Like I said you can call it whatever you want, but it functions the same. The only difference is the eligibility requirements. If I pay in 10000 dollars to SS, and die at 62 how much of that do my kids get? If I pay in the same 10000 and live to be 150 does the Government pay out more, less or the same amount as I put in?


Sorry. It's welfare.

 

[kyzr]

They will receive benefits paid for by someone else. That's welfare.

That's how taxes work. Don't cry.

Why do you believe the people who earn above the cap are responsible for making SS 'whole'?

That's how taxes work. Don't cry.

You want people to receive benefits paid for by someone else.
You want welfare.

That's how taxes work. Don't cry.

 

[kyzr]

Why? Its completely irrelevant to what I said.
Your "promised" SS benefit is what the government says it is.

True. But if one party cuts SS benefits the other party will restore them after the next election.

 

[M14 Shooter]

That's how taxes work.

You want other people to pay for your welfare.
Don't cry.

 

[DonGlock26]

A Federal Wealth Tax on financial assets might be one way to pay down the $39T National Debt.
Another would be to eliminate all "tax deductions".
A "sweetener" could be to couple the increase in "wealth" taxes with a "Balanced Budget" Law to forbid future Federal borrowing.

Wealth Tax 2025 Debate: U.S. Legal and Constitutional Challenges

Wealth Tax 2025 debate in the U.S. explores constitutional limits, federal authority, and potential court challenges.

lawdropusa.com

Q: What is a wealth tax?
A: A levy on net assets such as stocks, and cash holdings, rather than annual income.

Q: Is a wealth tax constitutional?
A: Opponents argue it violates apportionment rules; supporters claim the Sixteenth Amendment provides sufficient authority.

Q: Has the U.S. ever had a wealth tax?
A: No comprehensive federal wealth tax has been enacted, though estate and property taxes function similarly in scope.

Q: Why is the wealth tax 2025 debate significant?
A: It tests the balance between government taxing power and constitutional limits, with potential Supreme Court involvement.

Just doing some simple math.
If there is approximately $269T of "financial" wealth in the US, and the current Debt is $40T, and we want to pay that debt off in 8-years, that means a $5T tax or a ~2% wealth tax on all financial assets, but only for 8-years.
(it could be 1% over 16-years, if that is easier to sell)

View attachment 1228771

Problem solved. No debt, and no more borrowing.

I support a 50% reduction in the size of the Federal Gov't, not counting the Dept of War and ICE, to pay off the debt.

 

[citygator]

Have the costs to run the Government doubled since 2020. It's a simple question.

No where near it. How can you not follow math?

 

[Couchpotato]

That's how taxes work. Don't cry.

No one is disputing that. It's also how welfare works.....

That's how taxes work. Don't cry.

If your contention is that SS is not welfare then people should not be on the hook to pay in more for the same or less benefit.

That's how taxes work. Don't cry.

That's how welfare works.

 

[Couchpotato]

No where near it. How can you not follow math?

Thank you for making my point.

 

[Nostra]

A Federal Wealth Tax on financial assets might be one way to pay down the $39T National Debt.
Another would be to eliminate all "tax deductions".
A "sweetener" could be to couple the increase in "wealth" taxes with a "Balanced Budget" Law to forbid future Federal borrowing.

Wealth Tax 2025 Debate: U.S. Legal and Constitutional Challenges

Wealth Tax 2025 debate in the U.S. explores constitutional limits, federal authority, and potential court challenges.

lawdropusa.com

Q: What is a wealth tax?
A: A levy on net assets such as stocks, and cash holdings, rather than annual income.

Q: Is a wealth tax constitutional?
A: Opponents argue it violates apportionment rules; supporters claim the Sixteenth Amendment provides sufficient authority.

Q: Has the U.S. ever had a wealth tax?
A: No comprehensive federal wealth tax has been enacted, though estate and property taxes function similarly in scope.

Q: Why is the wealth tax 2025 debate significant?
A: It tests the balance between government taxing power and constitutional limits, with potential Supreme Court involvement.

Just doing some simple math.
If there is approximately $269T of "financial" wealth in the US, and the current Debt is $40T, and we want to pay that debt off in 8-years, that means a $5T tax or a ~2% wealth tax on all financial assets, but only for 8-years.
(it could be 1% over 16-years, if that is easier to sell)

View attachment 1228771

Problem solved. No debt, and no more borrowing.

OP's poll has him at a 6%er.

That's even worse than the usual position of the Dimwinger party, who is always on the opposite side of America by a large margin.

 

[kyzr]

You want other people to pay for your welfare.
Don't cry.

If that makes you feel better fine, as long as our SS checks are what we earned, and were promised.

 

[kyzr]

I support a 50% reduction in the size of the Federal Gov't, not counting the Dept of War and ICE, to pay off the debt.

That won't make a dent in the debt. Interest on the $39T debt is $1.2T. We'd need to pay down $1T or $2T a year.
Here are the 2026 budget numbers

 

[M14 Shooter]

If that makes you feel better fine, as long as our SS checks are what we earned, and were promised.

If you get your way, they will be what other people earned, and were forced to pay to you.
Oh, and you weren't promised anything.

 

[kyzr]

No one is disputing that. It's also how welfare works.....

People do not pay into and earn welfare benefits like we do for SS. Welfare is charity. Money for nothing.

If your contention is that SS is not welfare then people should not be on the hook to pay in more for the same or less benefit.
That's how welfare works.

Progressive income tax rates mean the high earners pay a bit more in taxes.
Removing the SS cap could be a similar rationale'.
If not, figure out how to fix SS so we all get the promised and earned benefits.

 

[LordBrownTrout]

Antisemite ^^^ ignores that America gives money to dozens of countries, including Muslim countries, and focuses on Da Joos.

Color me shocked.

Right. Corn pop gave Ukraine hundreds of billion over two years but it always about those jooos who get maybe 1.5 billion in foreign aid. Da joooooos!!!!!!

 

[M14 Shooter]

Removing the SS cap could be a similar rationale'.

"I WANT WELFARE!! I WANT WELFARE!!!!"\
- kyzr

 

[DonGlock26]

That won't make a dent in the debt. Interest on the $39T debt is $1.2T. We'd need to pay down $1T or $2T a year.
Here are the 2026 budget numbers

View attachment 1229135

We'll have to sell some Western land then.

 

[kyzr]

If you get your way, they will be what other people earned, and were forced to pay to you.
Oh, and you weren't promised anything.

Our entire working lives we got annual reports from SS saying what we paid in and what our promised benefits would be when we retire. Now we expect the government to pay up.
You can fix SS any way you want, as long as we get our promised benefits.

 

[kyzr]

"I WANT WELFARE!! I WANT WELFARE!!!!"\
- kyzr

Feel better? As long as we get our promised benefits, yell whatever you want.

 

[Lisa558]

Right. Corn pop gave Ukraine hundreds of billion over two years but it always about those jooos who get maybe 1.5 billion in foreign aid. Da joooooos!!!!!!

Exactly. $200 billion to Ukraine, and these antisemites ***** about $1.5 billion to the Jews.

Hell, it costs us $160 billion a year on the illegals!