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

[Votto]

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.

Let me think about this no!!!!!!!!!!!!!!

They bring in $39 trillion in new taxes and then spend another $50 trillion

Been there done that.

Next

 

[Couchpotato]

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.

So you want to tax money that’s already been taxed and or unrealized assets? We don’t have a revenue problem. We raise more in taxes than any other country on the planet by a wide margin. Incase you missed it we aren’t remotely close to the largest population in the world. If we reduced spending to pre COVID levels our budget would not only be balanced we would be running in the black.

 

[BackAgain]

Why a wealth tax? How about a "Everyone has to pay tax .. even the ~50% that pay no income taxes?"

Actual fairness? Perish the thought.

 

[Admiral Rockwell Tory]

Why a wealth tax? How about a "Everyone has to pay tax .. even the ~50% that pay no income taxes?"

Where are the poor going to get these extra funds to pay taxes they don't currently pay? Are they going to lower their standard of living even further? I don't mean to sound like a bleeding-heart liberal, because I am definitely not, but something has got to give. Why punish the poor?

 

[Nostra]

A wealth tax is unconstitutional.

For good reason.

 

[TroglocratsRdumb]

If we could stop the fraud we could lower our debt

 

[CrusaderFrank]

Not sure where you got the $25 T from, but you’re OK with another Holocaust wiping out 7 million Jews? Because that’s what the Islamic sub-humans would do if they got nukes.

They still have the enriched uranium, right?

 

[CrusaderFrank]

1. I'm with you on downsizing the military. Say $800b, period.
2. Send Medicaid to the states, along with Welfare, SNAP, etc.
3. CRs beat shutdowns. Most times.
4. Congress' pay is not an issue, subsidies and corporate welfare are.
5. States can't do the job of the Federal government

My point is if States had to funds the Federal government there would be pressure from the States to control spending

All this feels rudimentary, I think we’re out of time

 

[Dogmaphobe]

I would rather see the implementation of various luxury taxes, myself.

 

[IM2]

^Half of adult Americans pay no federal income tax at all * Because they have no earned income * which means they are either living off savings or living off the state & federal government

What it actually means is they don't make enough to pay taxes, which means a national living wage would be a better answer.

 

[AntonToo]

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)

Lets go with the "easier to sell" - taking out 2.5T annualy out of 30T economy means 8% GDP contraction.

We are talking about Great Recession stuff here

...but wait there is more! 2.5T is only 0.6T larger than 2026 projected deficit, so it would take not 8 years, but more like 30 years.

 

[Admiral Rockwell Tory]

I would rather see the implementation of various luxury taxes, myself.

Luxury taxes kill entire industries. Many years ago, I lived in Rhode Island. Congress passed a luxury tax at one time on the yachts bought by the rich and famous. The tax was high, so they rich simply stop buying boats in the US. They went without or bought them overseas. Rhode Island's yacht manufacturers were basically put out of business by the new tax. The workers all left the industry and worked elsewhere if they could. The entire economy in the local area just about dried up and blew away.

 

[Dogmaphobe]

Luxury taxes kill entire industries. Many years ago, I lived in Rhode Island. Congress passed a luxury tax at one time on the yachts bought by the rich and famous. The tax was high, so they rich simply stop buying boats in the US. They went without or bought them overseas. Rhode Island's yacht manufacturers were basically put out of business by the new tax. The workers all left the industry and worked elsewhere if they could. The entire economy in the local area just about dried up and blew away.

They don't need to be that usurious.

 

[Admiral Rockwell Tory]

They don't need to be that usurious.

Oh, well! We are talking Democrats here

 

[Dogmaphobe]

Oh, well! We are talking Democrats here

Tax Birkenstocks and patchouli oil!

 

[BrokeLoser]

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.

Do you support a 2% Federal wealth Tax on all financila assets to pay the $39T Debt down in 8-years?​

PHUCK NO!!
Get all the illegal cockroaches and their anchor babies on stolen citizenships out, stop incentivizing Humberto, Guadalupe, ShaQuita and DaShawn to run their baby factories, stop ALL the retarded spending and then ask about how you could phuck America’s best citizens over more. Until then, let this phucker burn to the ground.

 

[MarathonMike]

Stop the government fraud, stop giving foreign aid to countries that hate us, get the dead people off of Social Security, Cut the Federal Payroll across every dept by 5 percent, stop all the Green Energy subsidies before even THINKING of a "wealth tax".

 

[LeftofLeft]

A wealth tax or any new tax will encourage more spending.

 

[my2¢]

I don't trust anybody in Washington, DC. That includes the mistrust of their handling of any such wealth tax intended for use in paying down the debt.

 

[SaxonJackson]

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

Color me shocked.

Learn to spell. It's "The Jews."