How can we reduce the national debt by $1 trillion?

[Anonymous]

Let's start with the identified $800 billion in fraud alone last year. Another $200 billion will easily happen once deportations ease the pressure on public goods and services. Another $200 billion will easily come from the freezing, retirement and elimination of welfare government jobs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Change the tax laws for nonprofits. Make most of them taxable.

Tax the wealthy and corporations first, and then start looking at nonprofits.

Tax churches and religious organizations that get involved in political campaigning, many of them have been severely pushing the limits of 503(c) given some of them engage in overt activities like robocalls, attack ads and political advertising, and so on. And I still am pretty damn annoyed over the crap from a few years ago where IRS got lambasted for "going after" conservative groups applying for 501(c) status. IRS horribly mishandled the whole situation but the issue is that those orgs should have been flat out denied in the first place. If the name of your group is something like "Tea Party Patriots" I have absolutely NO idea how you could ever claim you're "non political" for 501(c) status.

Fine by me. Corporations pay way too little, so don’t disagree with hitting them and the billionaires first. When the Trump economy fails to deliver for the working class, maybe there will finally be a turnabout in US tax policy.

[obturningrussian]

Anonymous wrote:

obturningrussian wrote:

Anonymous wrote:Let alone $36 trillion? Any ideas?

#ThingsILoseSleepOver

im not and never will be good at economics, but im going to say maybe "taxing the rich" or something, which will never happen under this administration

I'm guessing you've never run the math on that idea.

correct

[Anonymous]

Anonymous wrote:Change the tax laws for nonprofits. Make most of them taxable.

This plus places of religion like churches.

[Anonymous]

It’s not going to be one thing. One is to lift the annual cap on social security taxes on wages. That would affect me, but I already don’t miss the money from the paycheck, so that will put more money to pay for that huge expenditure. The next thing is to figure out how to get more revenue from passive income, or from people who do not live off of salaries and wages. Yet another thing is to change the code of tax benefits to corporations to tie them to things in the public good, not shareholder profits. So you get a tax break for opening a plant inside the US that creates jobs. As a US taxpayer I don’t care if a company’s shareholders make a profit. I wish them well, but you shouldn’t be using my dollars or taxing me more to get there. Trickledown economics is a bankrupt ideology that no one serious believes in. There can be a slight effect if the trickle down is directed into very specific things. It is in my interest and in the interest of national security to have good paying jobs for the population. Underemployed populations create security issues.

[Anonymous]

Anonymous wrote:Let's start with the identified $800 billion in fraud alone last year. Another $200 billion will easily happen once deportations ease the pressure on public goods and services. Another $200 billion will easily come from the freezing, retirement and elimination of welfare government jobs.

How are you going to eliminate fraud if you get rid of those in charging of finding the fraud?

[Anonymous]

We could also start taxing churches unless they can prove that most of their money goes to charity and CODB.

[Anonymous]

Anonymous wrote:Let's start with the identified $800 billion in fraud alone last year. Another $200 billion will easily happen once deportations ease the pressure on public goods and services. Another $200 billion will easily come from the freezing, retirement and elimination of welfare government jobs.

What flavor kool-aid is that?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Let's start with the identified $800 billion in fraud alone last year. Another $200 billion will easily happen once deportations ease the pressure on public goods and services. Another $200 billion will easily come from the freezing, retirement and elimination of welfare government jobs.

How are you going to eliminate fraud if you get rid of those in charging of finding the fraud?

And what about Trump's own fraud, like overcharging the Secret Service for millions when they went to Bedford of Mar-A-Lago et cetera...

[Anonymous]

Anonymous wrote:

Anonymous wrote:Tax the super rich. No one should have enough money to buy a president anyway. Solves two problems.

Cato, 2023 ran the math.

If Congress confiscated every dollar earned by individuals and businesses past their first $500,000, it would still be about $200 billion short of covering the cost of next year’s projected $1.7 trillion deficit—unrealistically assuming no behavioral or other economic effects from taxing 100 percent of earnings.

So just keep allowing the felon to not pay zero taxes while serving taxpayers?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Change the tax laws for nonprofits. Make most of them taxable.

This plus places of religion like churches.

Can’t. Separation of church and state, don’t you know.

[Anonymous]

Anonymous wrote:There aren't enough rich people.

Look at where the federal dollars actually go. We need to do something about reducing spending on Social Security, Medicare, and the military. We also need to increase tax revenue (through increases and improved enforcement of existing laws).

None of this is hard, but no one wants to even talk about any of these. Cutting spending on government programs isn't necessarily a bad thing, but it is the spending equivalent of arranging the deck chairs on the Titanic. We need to go after our biggest expenses. It will be painful to do this, but less painful than if we ignore the problem until everything implodes.

Yes there are. If we closed the loopholes for Musk, Zuckerberg and Bezos alone have a combined net worth of $910.1 billion. Billionaires should be taxed at 60%. Tax the other 798 billionaires in the US and you’ll take a huge chunk out before you even get to the corporations. But when you buckle and dime anyone bringing in under $1million you’ll never get there. Trump pays no taxes, none. Don’t you see anything wrong with that?

[Anonymous]

Very high inflation with zero interest rates for a very long time. That will multiply IRS tax revenues while minimizing interest expenses incurred by Fed. That will make $1 trillion a pocket change.

[Anonymous]

Send all illegals home. It will expensive but keeping them here is even more expensive.

[Anonymous]

Cutting Medicaid, healthcare and various social services will kill off a lot of old and unhealthy people and save a lot of money. That should help.