National Fundraiser to Pay Down US Debt

[Anonymous]

Anonymous wrote:Rs know a default is the only way to force cuts to social security and Medicare.

Trump doesn’t understand it but he’s not in charge.

You mean, ROB social security and medicare. Those programs are paid for and are largely self-sustaining. Their insolvency is grossly exaggerated and they could be fully solvent if the contribution caps had kept pace.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Rs know a default is the only way to force cuts to social security and Medicare.

Trump doesn’t understand it but he’s not in charge.

You mean, ROB social security and medicare. Those programs are paid for and are largely self-sustaining. Their insolvency is grossly exaggerated and they could be fully solvent if the contribution caps had kept pace.

Rs don’t care. They just want to cut them. They have for years. Now is their chance.

[Anonymous]

Anonymous wrote: The US Debt is 36 trillion and if you divide that by the number of people in the US (340M), that’s just $105 per person. Of course that includes kids and the poor, but I’d be happy to give a one time contribution of $420 dollars to pay down the debt. And I’d be willing to double or triple that to cover other families.

Why can’t we have a massive national fundraiser to deal with the debt problem and start with a clean slate budget-wise? Also, politicians could donate any campaign surpluses to pay off debt. The mega rich could donate large sums as well.

There should be a mechanism to ensure any donated dollars would go directly to paying off the national debt.

Isn’t this doable?

Uh…Can we start with the grifters in the White House who don’t have their name on a single hospital, or library, or school, or arts center, despite being some of the wealthiest people in the US. There’s something like 11 billionaires in the cabinet. When they shell out, I might consider it. Right now I just want to pay zero taxes, since I don’t get anything for it now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You could get all the billionaires in the US to split the debt.

Where are they going to get the money from?

You think they just have $100 bills stacked up in vaults? LOL. No.

They're billionaires, which means their money is in the economy circulating through companies and organizations funding....wait for it...jobs.

Are you gonna dissolve the companies and lay everyone off to pay taxes? Good luck with that plan.



Jeezus, the understanding of macro economics on this site is atrocious.

But, I know. Everyone on DCUM is six feet tall and a multi-millionaire.

True, they all live in squalor because their $$$$$ is tied up in the economy. Hopefully rents are coming down soon, so the selfless billionaires can find a place without broken windows and a better commute.

[Anonymous]

Anonymous wrote:I welcome the top 0.1% to contribute $100,000 each. $1,000,000 for each billionaire.

Some of us have been saying "tax the rich" for decades now...

[Anonymous]

Anonymous wrote:You could get all the billionaires in the US to split the debt.

Honey, I really want to tell you to sit down and color, but that's not nice. Let me be nice and explain.

The national debt today is 37 trillion. That means we would have to come up with 37 trillion TODAY to pay it off.

It costs 18 billion PER DAY to run the federal government. About half of that (9 billion) we borrow thru treasury bill auctions or create out of thin air to sustain the mirage. The other 9 billion comes from taxes.

Where the hell do you think we're going to get 9 billion every damn day? That's a million dollars 9,000 times. EVERY DAY.

Am I making sense now?

The net worth of Amazon is 2 Trillion. That means you could dissolve it, layoff everyone that works there, maybe get a trillion in a firesale and run the government for 60 days with that money. Then what?

[Anonymous]

Anonymous wrote:

Anonymous wrote: The US Debt is 36 trillion and if you divide that by the number of people in the US (340M), that’s just $105 per person. Of course that includes kids and the poor, but I’d be happy to give a one time contribution of $420 dollars to pay down the debt. And I’d be willing to double or triple that to cover other families.

Why can’t we have a massive national fundraiser to deal with the debt problem and start with a clean slate budget-wise? Also, politicians could donate any campaign surpluses to pay off debt. The mega rich could donate large sums as well.

There should be a mechanism to ensure any donated dollars would go directly to paying off the national debt.

Isn’t this doable?

Child, Trump would take your money and funnel it into one of his bitcoin scams.

Most def

[Anonymous]

Anonymous wrote:

Anonymous wrote:You could get all the billionaires in the US to split the debt.

Honey, I really want to tell you to sit down and color, but that's not nice. Let me be nice and explain.

The national debt today is 37 trillion. That means we would have to come up with 37 trillion TODAY to pay it off.

It costs 18 billion PER DAY to run the federal government. About half of that (9 billion) we borrow thru treasury bill auctions or create out of thin air to sustain the mirage. The other 9 billion comes from taxes.

Where the hell do you think we're going to get 9 billion every damn day? That's a million dollars 9,000 times. EVERY DAY.

Am I making sense now?

The net worth of Amazon is 2 Trillion. That means you could dissolve it, layoff everyone that works there, maybe get a trillion in a firesale and run the government for 60 days with that money. Then what?

Don't be disingenuous. We didn't rack up trillions in debt in a single year. This has been several decades in the making. Nobody is talking about taxing individuals and corporations enough to wipe out the entire debt in a single year.

That said, in the last year alone, the 10 richest people in America became $300 billion dollars richer - that's a third of a trillion dollars richer. We can DEFINITELY tax them more and it will DEFINITELY make an impact.

And, compared to years ago, the tax share paid by corporations as compared to individuals is VASTLY lower now than it was during America's economic heyday. Corporations can and should pay more.

[Anonymous]

Corporations can and should pay more.

If we raise the corporate tax rate much higher than it is now, they will just relocate to other nations with lower tax rates. The US needs to remain competitive in tax rates for that reason.

[Anonymous]

Math is all wrong and we could start by cutting waste like holding a stupid military parade and flying the pres to and from his golf games (not sure why that’s on americas tab when it’s clearly personal travel) and seizing assets paid as bribes…I could go on but what’s the point. This administration is founded on carrying debt there is absolutely no intent on bringing it down in any meaningful way in fact they actually want to grow it.

[Anonymous]

Why not put a blanket tax on privately held funds in excess of $150million at 50%. That would make a huge impact.

[Anonymous]

Anonymous wrote:

Corporations can and should pay more.

If we raise the corporate tax rate much higher than it is now, they will just relocate to other nations with lower tax rates. The US needs to remain competitive in tax rates for that reason.

Yes. And the Biden administration used diplomacy to negotiate a global tax deal to address this problem. The GOP didn’t like it though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: The US Debt is 36 trillion and if you divide that by the number of people in the US (340M), that’s just $105 per person. Of course that includes kids and the poor, but I’d be happy to give a one time contribution of $420 dollars to pay down the debt. And I’d be willing to double or triple that to cover other families.

Why can’t we have a massive national fundraiser to deal with the debt problem and start with a clean slate budget-wise? Also, politicians could donate any campaign surpluses to pay off debt. The mega rich could donate large sums as well.

There should be a mechanism to ensure any donated dollars would go directly to paying off the national debt.

Isn’t this doable?

It is called Tax Day, April 15. And the billionaires who benefited from the infrastructure and research that created the conditions for them to become billionaires, should all pay their fair share.

Actually, half the country that pays no income taxes should start paying their fair share, and not skating over others all the time.

Talk to republicans about that. They just passed a bill with even more dumb ideas and gimmicks.

You’re a senior? You get $4k more
You’re a waiter? You don’t pay tax on tips!
You rely heavily on overtime? You don’t pay tax on overtime!
You had a baby? Here’s a $1000 Trump account.

Mainly this Will mean the wealthy will figure out how to reclassify their income as tips or overtime but it will also mean that some protected groups of low income people will pay even in less in taxes than other low income people.

I'm sorry, but the top 50 percent of tax payers pay 97% of the total tax burden, today.

The bottom 50 percent pay the remaining 3%. That's just a fact.

And that's bad because why?

Because that 50% votes. But they know they don't have to pay the fare, and their heads are in the clouds (or somewhere else).

They certainly aren't grounded in reality.

They don’t pay much or anything in taxes because they don’t make much money. Many of them are POOR. If someone is barely scraping by to exist, in what world does it make sense to take more from them? They pay taxes on everything they ARE able to buy- in many states, that means even their food and clothing.

It makes MUCH more sense to tax people who can afford 5 homes more than to tax someone who can’t afford even one.

You’ve never been broke and it shows. Read some books and get out a bit. Being poor is hard.

[Anonymous]

Each Billionaire should pay 25% of their wealth
.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You could get all the billionaires in the US to split the debt.

Honey, I really want to tell you to sit down and color, but that's not nice. Let me be nice and explain.

The national debt today is 37 trillion. That means we would have to come up with 37 trillion TODAY to pay it off.

It costs 18 billion PER DAY to run the federal government. About half of that (9 billion) we borrow thru treasury bill auctions or create out of thin air to sustain the mirage. The other 9 billion comes from taxes.

Where the hell do you think we're going to get 9 billion every damn day? That's a million dollars 9,000 times. EVERY DAY.

Am I making sense now?

The net worth of Amazon is 2 Trillion. That means you could dissolve it, layoff everyone that works there, maybe get a trillion in a firesale and run the government for 60 days with that money. Then what?

Don't be disingenuous. We didn't rack up trillions in debt in a single year. This has been several decades in the making. Nobody is talking about taxing individuals and corporations enough to wipe out the entire debt in a single year.

That said, in the last year alone, the 10 richest people in America became $300 billion dollars richer - that's a third of a trillion dollars richer. We can DEFINITELY tax them more and it will DEFINITELY make an impact.

And, compared to years ago, the tax share paid by corporations as compared to individuals is VASTLY lower now than it was during America's economic heyday. Corporations can and should pay more.

This. PP was trying to mansplain nonsense.