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

[Mac-7]

Like I said above. We have to do both. We have one of the largest child poverty rates of first world nations. Noses arent being wiped.

I have seen lib demands to raise taxes

Tell us about the spending cuts

 

[Couchpotato]

82 year olds are too old to work. Besides physical and mental issues its simply cruel.
SS is over 90-years old, it's no Ponzi scheme, it outlived Ponzi. SS simply needs to be fixed.

View attachment 1229316...82 year old man
View attachment 1229317...82 year old man
View attachment 1229318...82 year old woman

How can you kiss the point this badly?

 

[citygator]

I have seen lib demands to raise taxes

Tell us about the spending cuts

I'd star slashing SS and Medicare for boomers with wealth. They didnt pay enough to cover the expenses their representatives ran up debt that is killing us. I'd cut defense. Go from there.

 

[Mac-7]

I'd star slashing SS and Medicare for boomers with wealth. They didnt pay enough to cover the expenses their representatives ran up debt that is killing us. I'd cut defense. Go from there.

You have same problem many libs have

You want to ride on the backs of others who you are jealous of because they have more money than you

I say tax everyone and every dollar of income with no exemptions

That would put most tax consultants out of business along with most IRS agrnts

The percentage of taxation would be very low, single digits for sure

But you could not put the bite on your betters without hurting yourself also

Then reduce spending to equal income

 

[Robert W]

W


But we are not suppose to tax everyone equally, and never have as a nation!

You can't get blood out of a turnip.

We have a truly wrong and flawed system of taxes.
States vary on how much to charge and from whom. Some states charge income taxes with others refusing to tax incomes. The feds excuse 40 percent of citizens yet steeply charge a minority of citizens. It is wrong.

 

[theHawk]

I'd send Welfare back to the states, let them put the lazy folks to work.

No, we’ve seen how much the state governments are corrupt.

 

[leftwinger]

Lots of talk about tweaking SS or increasing taxes.

No discussion on a halt in payments out. With a re-qualification of all. Sure its a lot of work. Start somewhere? Start today? Start with MINN & CA. Develop a system. These Congress are showered with unimaginable wealth cradle to grave. Do the job!!

Force large interest rates cuts.

Two items could save $0.5T. We don't need more taxes. Fix the crap. GAO itself estimated 7% fraud, or incompetence in 2022. Think its better now? Ha ha.

BoardStain loons holler "raise taxes" the sick twisted fruitcakes.

 

[kyzr]

No, we’ve seen how much the state governments are corrupt.

If there is NO FEDERAL MONEY involved its off the Federal Budget.

Lets cut $1-TRILLION off the Federal Budget and send Welfare back to the states to fund.

We can't micromanage every state expenditure.

 

[sartre play]

Seems most just want taxes to improve their personal wealth factor.
No one is looking to balance anything, So we fight each other, instead of solving our problems

 

[leftwinger]

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

Easy answer. Cut expenses you dumb OX.

 

[theHawk]

If there is NO FEDERAL MONEY involved its off the Federal Budget.

Lets cut $1-TRILLION off the Federal Budget and send Welfare back to the states to fund.

We can't micromanage every state expenditure.

Dude, the federal government gives states about $1 trillion every year. On average state budgets are 30% from the Feds.

 

[Fort Fun Indiana]

Absolutely. Much more than 1% of that wealth came from the deficit spending that helps prop up our economy and from pathetically low tax rates that also gree the deficits.

 

[kyzr]

Dude, the federal government gives states about $1 trillion every year. On average state budgets are 30% from the Feds.

True. Why is that?
The Feds pay for Welfare, Medicaid, SNAP, and probably all kinds of educational expenses, "special ed", etc.
Plus student loans.

1. Colleges should put up half the student loan so they have skin in the game instead of just $billion endowments.

2. Welfare should be transitioned back to the states. States need to put people to work. Welfare was a 2-year lifetime limit, put that back on. The way it is now states are happy to scam the Federal government.

3. Medicaid and health insurance are probably okay at the Federal level.

4. SNAP and school lunches should NOT be a Federal responsibility.

5. If states need to raise taxes, fine.
The Federal government MUST balance the budget and pay that $39T debt down

 

[Admiral Rockwell Tory]

You morons can't seem to grasp the point. Do you think that when FDR got SS passed the US government was unaware of the life expectancy of the population? Do you think they picked 65 randomly? There were enough people who lived to or just past 65 so that people could see themselves getting there and getting some benefit from SS, but the politicians knew that most wouldn't and that the ones that did get to 65 wouldn't collect long enough to make a difference. That wasn't a bug, it was a feature. If we want SS to work as designed the retirement age should follow the life expectancy. 82 was a bit hyperbolic but I did that to again illustrate a greater point. (You seem to really have a problem following along with things like that.) That point being that SS has always been and was designed to be just another tax.

Because it's example used to illustrate the point that SS isn't saving your money. It's irrelevant to the point whether I used 1$ or 1000000000$. If you cant grasp it putting a bunch of zero's into the equation wont make it any easier for you.

My father was a teenager when SS came into being. My mother was a child and never contributed to SS as she was a stay-at-home mother. He drew SS for 10 years until he died. My mother drew off his SS for another 20 years as a survivor because she never qualified for SS. It served their generation well.

Past history from the 1930s does not illustrate what SS became. People now live longer and have other means for living during retirement. That is the difference, in that SS evolved over time. I have no problem with discussing alternatives, but I don't like people like you using propaganda, hyperbole and outright bullshit to try to make your point. To do that, you must be a closet liberal. Use facts, not hyperbole.

 

[Admiral Rockwell Tory]

Why not just require every dollar spent by the government to reference the specific clause in the Constitution that authorizes the Fed to spend it. And you can’t use the crutch “general welfare”.


Our budget would be less than half of what it is.

Problem solved.

Go ahead and run on that!

 

[Admiral Rockwell Tory]

How can you kiss the point this badly?

 

[Edgetho]

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.

 

[Nostra]

Ok, go for it. I want to see the commercials of you promoting that moronic idea. Work until you're 82 or no SS.

Then I'd laugh my ass off when the next election happens.

Get more support than your lunatic, unconstitutional wealth tax.

 

[Nostra]

"The average life expectancy for males in the United States is approximately 75.8 years as of 2023. "

I guess we could all just die at our desks.

Have corporate morgues, to make sure we keep the place all clean.

Retirement age was about 2 years above life expectancy when the Ponzi scheme was enacted, Short Bus.

 

[Nostra]

I'd star slashing SS and Medicare for boomers with wealth. They didnt pay enough to cover the expenses their representatives ran up debt that is killing us. I'd cut defense. Go from there.

You didn’t pay enough either. No SS for you.