If we finally do get the rich to pay their fair share, we will have less revenue to the government than ever. Because we'd have to lower their taxes by at least 50% for them to be paying their "fair share".
No, we wouldn't. Hey, let's put "paying their fair share" to a vote. You'd probably lose that one.
Trump didn't run on "tax cuts for the rich". He ran against the rich, which is why they supported Hillary.
By the way....if we confiscated every single dollar in the entire U.S. economy (including the middle class and the poor), it wouldn't even come close to paying off the national debt. Not even half of it.
Guy, that isn't true.
We have a national debt of 20 Trillion. We have a GDP of 20 trillion and total assets of 269 Trillion.
As far as debt, we as a country have 145.8 Trillion in debt, if you count everything from mortgages, business loans, credit cards, etc. Federal Government Debt is only a fraction of that.
The thing was, the debt WAS going down under Bill Clinton. Had we kept with his sensible policies, we'd probably have had it paid down by now.