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

[LAUGHatLEFTISTS]

Just reality and common sense.
A 100 Billionaire can certainly afford to be with ONLY 10 Billion Less.

Who can spend that much money?
Buffett is correct.

Yes! We need to give politicians more money. I’m sure they’ll do the right thing with it.

 

[j-mac]

Currently? In the pocketbook.

Only you’re to blame for your own inability to manage your own money…

 

[SaxonJackson]

Only you’re to blame for your own inability to manage your own money…

So if someone steals my money at gunpoint it's my fault? Is that Neocon logic?

 

[j-mac]

So if someone steals my money at gunpoint it's my fault? Is that Neocon logic?

lol, bullshit…you’re just looking for a scapegoat

 

[Hafar1014]

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.

A wealth tax will destroy the stock market and have no effect on the national debt. Only spending cuts can reduce the debt

 

[Hafar1014]

Logic tells you it isn't necessary .
Trump promised to eliminate the national debt without this 1% thing in his agenda. Therefore the tax you mention won't be necessary.
View attachment 1228772

Its stoll rising because Bidens policies havent been completely erased. The annual deficit is down and that must be zero before the national debt can be cut. Democrats fight cuts every step of the way

 

[iamwhatiseem]

A "wealth tax" as suggested would be a disaster, as it would force selling of assets which would assure that the assets would tumble in price.

But but but.... tax the rich!! White supremacy!! Trruuuuuummmp!!! AAAuuuugh!!!!

 

[j-mac]

But but but.... tax the rich!! White supremacy!! Trruuuuuummmp!!! AAAuuuugh!!!!

You mean my bus ride to the free grocery store won’t be free?

 

[iamwhatiseem]

You mean my bus ride to the free grocery store won’t be free?

And free daycare, subsidized rent and subsidized grocery stores too!!
The dream is gone. TRRRUUUUUUMMMPPP!!!!!!!!!!

 

[Conservative from Georgia]

Its stoll rising because Bidens policies havent been completely erased. The annual deficit is down and that must be zero before the national debt can be cut. Democrats fight cuts every step of the way

Did you not see the word “eliminate”? Or you’re just playing dumb about it?

 

[Couchpotato]

We do have a revenue problem. A national living wage would create additional revenue from people who were unable to pay taxes and reduce the need for government assistance.

That’s not a tax revenue issue.

We were not running in the black before COVID, and every time a Democrat fixes the mess a Republican made, people vote in a Republican majority and administration that messes things up again.

Retard. The revenue now is different than the revenue in 2018. 4.1 budget in 2018. 4.9 revenue in 2024. The point being we increased spending by 50% because of COVID but news flash COVID ended 4 years ago? If we needed the 2 extra trillion a year to deal with COVID, where’s it going now? I know math isn’t your strong suit but I think even you can do that math.

 

[Couchpotato]

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".

That would have next to zero affect on the budget. Until we are willing to take on entitlement (60% of the budget) and military spending (15% of the budget) you’re trying to put out a forest fire by pissing on it.

 

[Care4all]

What about a 3% tax on every adult over 18? Half of Americans pay no federal income tax at all.

Do you really want to eliminate the Standard Deduction, so you can tax the poorest, which would raise your taxes too?

 

[EdwinAMartin]

Henry George had a viable idea. A constitutional amendment to allow the Federal govt. to levy a real estate tax on all private land, but limiting the revenue raised to military spending, would take Defense budgets out of the general fund and budget process, and limited to military spending would be a fair deal, since their primary function lies in protecting American soil, regardless of states. Not as radical as his main idea, but might work on a small limited scale.

 

[Lisa558]

Do you really want to eliminate the Standard Deduction, so you can tax the poorest, which would raise your taxes too?

The poorest? HALF of Americans pay nothing.

 

[Couchpotato]

Do you really want to eliminate the Standard Deduction, so you can tax the poorest, which would raise your taxes too?

The bottom 50% of wage earners essentially pay no taxes. You’re saying 50% of the US population is so poor they don’t have a fair share to pay?

 

[Hafar1014]

That would have next to zero affect on the budget. Until we are willing to take on entitlement (60% of the budget) and military spending (15% of the budget) you’re trying to put out a forest fire by pissing on it.

Useless welfare pro0grams are far more then the defense budget

 

[EdwinAMartin]

A wealth tax will destroy the stock market and have no effect on the national debt. Only spending cuts can reduce the debt

lol the stock market destroys itself about every 7-10 years and has to be bailed out by, ... drum roll please ..., the Federal govt.

 

[EdwinAMartin]

The bottom 50% of wage earners essentially pay no taxes. You’re saying 50% of the US population is so poor they don’t have a fair share to pay?

lol

 

[Mashmont]

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.

Asinine. A great way to drive successful people to other countries. Has never worked when tried in other countries. Confiscation has no history of good results.