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

[kyzr]

A better idea..,don’t spend 1 billion dollars a day on a war that was not needed.

That $billion a day is to stop the "Head of the Terrorist Snake" from building nukes and ICBMs.

I like the world with a "de-fanged" Iran. If we need to "mow the grass" again in the future....meh.

 

[Meister]

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.

As if the revenue from a wealth tax would ever see a dollar of
it bringing down the debt. It would just go to more spending.

Let's face reality, folks, we're screwed.

 

[Fort Fun Indiana]

That $billion a day is to stop the "Head of the Terrorist Snake" from building nukes and ICBMs.

Which they weren't doing.

So yeah, it's not for that, and you have been fooled again by the dumbest people on the planet.

 

[Fort Fun Indiana]

As if the revenue from a wealth tax would ever see a dollar of
it bringing down the debt.

Even if it narrows the deficit, same thing.

 

[Meister]

Even if it narrows the deficit, same thing.

It won't narrow it.....sadly.

 

[Nostra]

Except we are not collecting enough taxes overall. I demonstrated that. When we were balanced we collected 20% of GDP in tax revenue. We are down to 16%. No way we will see a balanced budget. Need 20% revenue and 20% expenses. We are at 16% revenue and 23% expenses.

Both need adjusting with the biggest piece carved out of the boomers bleeding us dry.

$5 trillion is more than enough, Dumbass.

 

[kyzr]

As if the revenue from a wealth tax would ever see a dollar of
it bringing down the debt. It would just go to more spending.
Let's face reality, folks, we're screwed.

That's what happens when there are no adults in the room.

I remember when Newt and Bubba balanced the Budget. The very next budget they said "we need to return the taxpayer's money" instead of paying down the debt when it was still manageable.
SS is insolvent
Medicare is insolvent
Trump wants a $500b add to defense?????? WTF???

 

[Nostra]

It won't narrow it.....sadly.

Whenpoliticians see cash, even if they have to borrow it, they have the restraint of Crackhead Biden carrying a suitcase full of cash and staring at a pile of crack and a 9 year old Asian sex slaves.

The money will be gone in seconds.

 

[Nostra]

That's what happens when there are no adults in the room.

I remember when Newt and Bubba balanced the Budget. The very next budget they said "we need to return the taxpayer's money" instead of paying down the debt when it was still manageable.
SS is insolvent
Medicare is insolvent
Trump wants a $500b add to defense?????? WTF???

How much did our debt go down with those “surplusses”?

 

[Mikeoxenormous]

A better idea..,don’t spend 1 billion dollars a day on a war that was not needed.

Better idea, stop paying welfare to people who just sit on their asses all day. When they start working for a paycheck, then funds for Social Security will happen.

43 million people were reported to be on welfare.

 

[Mikeoxenormous]

"Saw how well that went in the other 49 states for 60 years."

STFU you stupid twit. Most Red states are doing well, except in the democrat run cities of those states. Always democrats who run their cities and states into the ******* ground.

 

[kyzr]

$5 trillion is more than enough, Dumbass.

Discretionary spending was $1.8T for 2025. Mandatory spending was $5.1T. So that left a $1.9T deficit to start.
SS is going insolvent
Medicare is going insolvent
Trump wants a $500b add to defense
Obamacare is a mess
Interest on the debt grows as the debt grows
Medicaid and Welfare are rife with fraud
No way $5T can work.

• Defense Spending: Primarily funds the Department of Defense, military operations, and related security programs. The FRA allows for a maximum of $895.2 billion, with emergency adjustments included for unforeseen events.
  https://www.bing.com/ck/a?!&&p=0fcc...DI1LUFwcHJvcHJpYXRpb25zLVBvc3QtQ1IucGRm&ntb=1
• Non-Defense Spending: Covers all other federal programs, including health, education, housing, and infrastructure. The cap is set at $736.4 billion, with certain programs exempt from the cap or adjusted through legislative mechanisms.
  https://www.bing.com/ck/a?!&&p=0fcc...DI1LUFwcHJvcHJpYXRpb25zLVBvc3QtQ1IucGRm&ntb=1
• Emergency and Disaster Funding: Approximately $140.1 billion is designated for emergency or disaster relief, including $110 billion approved in response to Hurricane Milton.
  
  
  
  
  
  
  
  
  
  
  
  

 

[kyzr]

How much did our debt go down with those “surpluses”?

ZERO. Here's AI's mansplain...

 

[Fort Fun Indiana]

It won't narrow it.....sadly.

And I say it will.

Of course it will have to be a democrat president.

 

[Meister]

And I say it will.

Of course it will have to be a democrat president.

Of course.
I didn't know you had a sense of humor.

 

[task0778]

Even if it narrows the deficit, same thing.

I would submit that narrowing the deficit is better than enlarging it, but then all you're doing is delaying the inevitable financial catastrophe. That is not the same as reducing the debt from X to X-Y.

 

[BlindBoo]

I would submit that narrowing the deficit is better than enlarging it, but then all you're doing is delaying the inevitable financial catastrophe. That is not the same as reducing the debt from X to X-Y.

It would have to be a sustained commitment spanning multiple administrations so the gains under one administration is not squandered by the next. Like what happened in 2001.

Impossible without an Amendment forcing the Government hand.

 

[Couchpotato]

Saw how well that went in Minnesota and the Somalis.....

What is the point of this post exactly?

 

[EdwinAMartin]

End SS and it will be back in a month, soon as the local police pick up old Aunt Martha at the curb of the rest home that just evicted her and drops her off on the porch of her nearest relatives with a box of diapers, they will be screaming to bring it back.

 

[BluesLegend]

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

We can't tax OR wealth confiscate our way out of the national debt problem while the spend-o-holics politicians are still borrowing and spending like maniacs.

Second, the damage to the economy by confiscating people's wealth would be catastrophic. Only a politician idiot would think that after you can't tax the people any higher, you pivot to just confiscating their wealth. WTF