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

[Fort Fun Indiana]

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

Well, I knew you would convulse, per your programming.

But the facts show what they show.

 

[Fort Fun Indiana]

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's the first step. Can't grow the deficits and pay the debt. Unless you know of some special math that I don't.

 

[Meister]

Well, I knew you would convulse, per your programming.

But the facts show what they show.

When it comes to spending the taxpayers money, you seem to think that there
are distinctions between the two parties. I laugh at that, yes.

 

[Fort Fun Indiana]

When it comes to spending the taxpayers money, you seem to think that there
are distinctions between the two parties. I laugh at that, yes.

It doesn't matter what I think, the facts show what they show.

But I think your compulsion to say "screw the facts, I will go with my feelings" sums you up very well.

 

[kyzr]

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

We can't keep borrowing and adding to the $39T Debt either.
Here is a short version of the 2025 budget.
The only items that look "cut-able" are Medicaid and Welfare. (Welfare used to have a 2-yr lifetime limit)

2025 Federal Budget ($6.88T, 2025 deficit approx $1.88T)

Mandatory Spending ($5.10T)
Social Security $1.50T
Medicare $1.10T
Interest on Debt $0.95T
Medicaid & Welfare $1.55T

Discretionary Spending ($1.78T)
Defense $0.90T
Non-Defense $0.74T. (health, education, housing, infrastructure)
Emergency & Disaster Relief $0.14T

SS & Medicare need to be "fixed" to prevent insolvency
Trump wants to add $500b to Defense for 2027

The "Day of Reckoning" is approaching faster than you think...

 

[Meister]

It doesn't matter what I think, the facts show what they show.

But I think your compulsion to say "screw the facts, I will go with my feelings" sums you up very well.

Screw the facts? Who said that other than you???
You seem to think that democrats are better with the purse strings.
That's bullshit, and an outright lie. You just keep ignoring the corruption
going on with our government, Reality and you have never crossed paths.

 

[blackhawk]

No because we would be depending on the people who created that debt to use that money to actually pay it down. It is extremely difficult to have any faith in the people who created this to be fiscally responsible enough to fix it.

 

[Fort Fun Indiana]

You seem to think that democrats are better with the purse strings.

Doesn't matter what I think.

The numbers show what they show, in re: democrat vs republican presidents.

 

[Meister]

Doesn't matter what I think.

The numbers show what they show, in re: democrat vs republican presidents.

Riiiight, you go with that, tiger.
Just need to go back to the Biden spending policies to prove your point, huh?

 

[Fort Fun Indiana]

Riiiight, you go with that, tiger.

I will go with the facts. And you go with your fee fees. Per your programming.

 

[Nostra]

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.
  
  
  
  View attachment 1229639
  
  
  
  
  
  
  
  

So?

 

[Nostra]

ZERO. Here's AI's mansplain...
View attachment 1229652

So there was no surplus.

Got it.

 

[kyzr]

So?

So we need a lot more revenue.

 

[kyzr]

So there was no surplus. Got it.

Read again.
There was a surplus, but the pols couldn't resist cutting taxes, wars, recessions, and borrowing more.

 

[skews13]

So show us how we pay it down without new taxes, considering that "discretionary spending" isn't discretionary.

If you cut all spending. All of it. It's not enough to pay down the debt. There was no debt before the first round of massive tax cuts for the rich in 1983, coupled with increased military spending.

100% of that $39 trillion is because of 40 years of massive tax cuts for the rich, and increased military spending.

Every. Last. Dime. Of. It.

 

[Nostra]

So we need a lot more revenue.

Why?

 

[Nostra]

Read again.
There was a surplus, but the pols couldn't resist cutting taxes, wars, recessions, and borrowing more.
View attachment 1229806

Nope. If the debt never went down there was no surplus. Saying the surplus was spent is stupid, and proves there was no actual surplus.

 

[kyzr]

Why?

So we don't need to borrow and add to the $39T debt.

 

[Nostra]

So we don't need to borrow and add to the $39T debt.

You don’t have to do that today.

 

[kyzr]

Nope. If the debt never went down there was no surplus. Saying the surplus was spent is stupid, and proves there was no actual surplus.

Actually the Debt went down $453b:

Economic policy of the Clinton administration - Wikipedia

en.wikipedia.org

"These factors helped bring the United States federal budget into surplus from fiscal years 1998 to 2001, the only surplus years since 1969. Debt held by the public, a primary measure of the national debt, fell relative to GDP throughout his two terms, from 47.8% in 1993 to 31.4% in 2001."

Debt held by the public was actually paid down by $453 billion over the 1998-2001 periods, the only time this happened between 1970 and 2018.