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

[Anonymous]

Anonymous wrote:

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?

What’s confusing you? The math does not add up to fix the deficit by taking the rich even if you take it all.

[Anonymous]

Anonymous wrote:

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...

There you go. Now you're talking. Plenty of waste to cut. $1 trill is no problem.

[Anonymous]

Tax the billionaires.

[Anonymous]

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

#ThingsILoseSleepOver

Get rid of Congress.

[Anonymous]

Anonymous wrote:

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

#ThingsILoseSleepOver

Get rid of Congress.

And the executive branch? Air Force One must cost a fortune to run.

[Anonymous]

Some combination of increasing taxes and reducing spending, obviously. Problem is one party continues to cut taxes and both parties continue to increase spending.

[Anonymous]

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

#ThingsILoseSleepOver

Reduce the Pentagon budget by 5% a year until they can pass an audit.

[Anonymous]

Limit the amount of money politicians can spend on campaigning, reverse Citizens United, hold congress people to the same ethical and financial standard as a member of the military and watch how much less they’ll spend on pork. Kick them out of office for committing crimes.

Then increase taxes on every dollar someone makes over $2 million a year, and increase it substantially on every dollar they make over $10 million a year. Back to 80% - no one should be able to buy an election.

Tax corporations a minimum of 15%

Be more careful about which wars you want to fight. (Note, of everyone who fought a particular country became a fallen empire, don’t do that one)

Don’t privatize anything. It’s just a zip line for government money to go into the hands of a few and costs more, provides less.

[Anonymous]

Anonymous wrote:

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?

So what will happen to all their employees? I can ASSURE you they don't squirrel away billions in vaults as cash. The billions are in their companies and the stock market creating jobs and employing people.

So if you want to confiscate from them, they're closing their businesses and laying off their employees.


Meanwhile, close to half the country pays no income taxes whatsoever. They just skate. See the IRS tax tables.

https://usafacts.org/articles/who-pays-the-most-income-tax/

https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/

https://www.cbsnews.com/news/tax-irs-income-taxes-who-pays-the-most-and-least/

https://www.thebalancemoney.com/breakdown-of-who-pays-most-taxes-4178924

[Anonymous]

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

#ThingsILoseSleepOver

Tax the richest 100 Americans properly.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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?

So what will happen to all their employees? I can ASSURE you they don't squirrel away billions in vaults as cash. The billions are in their companies and the stock market creating jobs and employing people.

So if you want to confiscate from them, they're closing their businesses and laying off their employees.


Meanwhile, close to half the country pays no income taxes whatsoever. They just skate. See the IRS tax tables.

https://usafacts.org/articles/who-pays-the-most-income-tax/

https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/

https://www.cbsnews.com/news/tax-irs-income-taxes-who-pays-the-most-and-least/

https://www.thebalancemoney.com/breakdown-of-who-pays-most-taxes-4178924

Because they don’t make enough to be taxed! They’re SO broke, it’s wrong to take money from them. Pay them better then you can tax them.

[Anonymous]

Anonymous wrote:Limit the amount of money politicians can spend on campaigning, reverse Citizens United, hold congress people to the same ethical and financial standard as a member of the military and watch how much less they’ll spend on pork. Kick them out of office for committing crimes.

Then increase taxes on every dollar someone makes over $2 million a year, and increase it substantially on every dollar they make over $10 million a year. Back to 80% - no one should be able to buy an election.

Tax corporations a minimum of 15%

Be more careful about which wars you want to fight. (Note, of everyone who fought a particular country became a fallen empire, don’t do that one)

Don’t privatize anything. It’s just a zip line for government money to go into the hands of a few and costs more, provides less.

https://www.usdebtclock.org/

[Anonymous]

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

Start by taking 99.999% of Elon Musk's, Mark Zuckerberg's and Jeff Bezos's income every year for the rest of their lives. And seize 99.9% of their assets and property, liquidate it, and pay off as much of the debt as possible.

Even after paying all those taxes, they will still be the three richest men in the US.

And the US debt will barely be touched.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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?

So what will happen to all their employees? I can ASSURE you they don't squirrel away billions in vaults as cash. The billions are in their companies and the stock market creating jobs and employing people.

So if you want to confiscate from them, they're closing their businesses and laying off their employees.


Meanwhile, close to half the country pays no income taxes whatsoever. They just skate. See the IRS tax tables.

https://usafacts.org/articles/who-pays-the-most-income-tax/

https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/

https://www.cbsnews.com/news/tax-irs-income-taxes-who-pays-the-most-and-least/

https://www.thebalancemoney.com/breakdown-of-who-pays-most-taxes-4178924

Because they don’t make enough to be taxed! They’re SO broke, it’s wrong to take money from them. Pay them better then you can tax them.

Yes they do. You have half the country skating on the bill, but constantly voting for more spending and goodies. It's total BS.

[Anonymous]

Yes, get rid of Citizens United and pass a constitutional amendment requiring public funding of all elections and forbidding any private funding of any kind.