Do you think taxes will increase to pay for the nation's debt?

[Anonymous]

Anonymous wrote:I think anyone with a net worth of more than $3 million should be paying higher taxes and/or an annual wealth tax. Why, because nobody NEEDS that much money to live, even in retirement. There are not enough billionaires, but plenty of upper middle class out there.

Have you spent time on this forum? People are so obsessed with inheritance. It's like they only work to hand everything to their kids. I'll be curious to see if the kids who inherit money from these people here are able to pass down that money to their kids.

[Anonymous]

OMG the fear mongering from you people. Yes we have debt, but it's not that big of a deal. We have and will continue to have the best economy. The dollar is the reserve currency. The IMF without the US will simply collapse. We are the most innovative country. We are the most lucrative market. We have a very high purchasing power.

No OP taxes will not need to rise because there is not going to be a debt crisis.

[Anonymous]

Anonymous wrote:OMG the fear mongering from you people. Yes we have debt, but it's not that big of a deal. We have and will continue to have the best economy. The dollar is the reserve currency. The IMF without the US will simply collapse. We are the most innovative country. We are the most lucrative market. We have a very high purchasing power.

No OP taxes will not need to rise because there is not going to be a debt crisis.

^^^^
MAGA living under rock

But then again, they think Trump is the best President ever so you know... take what they say with a large grain of salt

[Anonymous]

Anonymous wrote:

Anonymous wrote:OMG the fear mongering from you people. Yes we have debt, but it's not that big of a deal. We have and will continue to have the best economy. The dollar is the reserve currency. The IMF without the US will simply collapse. We are the most innovative country. We are the most lucrative market. We have a very high purchasing power.

No OP taxes will not need to rise because there is not going to be a debt crisis.

^^^^
MAGA living under rock

But then again, they think Trump is the best President ever so you know... take what they say with a large grain of salt

PP here. I am not MAGA. I genuinely dont think we have a debt crisis.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think anyone with a net worth of more than $3 million should be paying higher taxes and/or an annual wealth tax. Why, because nobody NEEDS that much money to live, even in retirement. There are not enough billionaires, but plenty of upper middle class out there.

Have you spent time on this forum? People are so obsessed with inheritance. It's like they only work to hand everything to their kids. I'll be curious to see if the kids who inherit money from these people here are able to pass down that money to their kids.

Thats THE problem. Greed amongst the upper middle class at a large scale. People are crying over 900 paper billionaires while there are tens of millions of multi millionaires hoarding wealth so their kids dont have to work.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OMG the fear mongering from you people. Yes we have debt, but it's not that big of a deal. We have and will continue to have the best economy. The dollar is the reserve currency. The IMF without the US will simply collapse. We are the most innovative country. We are the most lucrative market. We have a very high purchasing power.

No OP taxes will not need to rise because there is not going to be a debt crisis.

^^^^
MAGA living under rock

But then again, they think Trump is the best President ever so you know... take what they say with a large grain of salt

PP here. I am not MAGA. I genuinely dont think we have a debt crisis.

Because of MAGA we do. It's not given, we will be reserve currency in the future. That will blow your mind.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think anyone with a net worth of more than $3 million should be paying higher taxes and/or an annual wealth tax. Why, because nobody NEEDS that much money to live, even in retirement. There are not enough billionaires, but plenty of upper middle class out there.

Have you spent time on this forum? People are so obsessed with inheritance. It's like they only work to hand everything to their kids. I'll be curious to see if the kids who inherit money from these people here are able to pass down that money to their kids.

Thats THE problem. Greed amongst the upper middle class at a large scale. People are crying over 900 paper billionaires while there are tens of millions of multi millionaires hoarding wealth so their kids dont have to work.

This. Ill admit I am privileged. My parents told me if I don't work a single day in my life I'll inherit enough to just stay home.

Thankfully I was motivated enough to craft my own path.

[Anonymous]

Anonymous wrote:Do you think taxes will increase to pay for the nation's debt when I am about to retire in 2045?

I will turn 60 in 2045 lol

It seems to me that we keep kicking the can down the road.

And now population growth is slowing and age dependency ratio increasing.

Don't you think at some point we will be forced to increase capital gain tax because that's where a lot of money can be raised?

Or is national debt just an abstract concept that does not matter?

Didn’t Trump say tariffs would take care of this?

[Anonymous]

Anonymous wrote:OMG the fear mongering from you people. Yes we have debt, but it's not that big of a deal. We have and will continue to have the best economy. The dollar is the reserve currency. The IMF without the US will simply collapse. We are the most innovative country. We are the most lucrative market. We have a very high purchasing power.

No OP taxes will not need to rise because there is not going to be a debt crisis.

LOL. This is exactly why other countries are pushing for currencies other than the dollar to be the reserve. It will happen sooner than you think.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:yes, they will be increased and safety net programs such as SS, medicaid will be cut. It is true that there is a lot of fraud in these programs and they need to be checked.

Fraud needs to be eliminated but the programs don't.

Eliminating the staff that was investigating fraud and firing IRS agents, by the way, has increased the inefficiency and fraud, not decreased it.

+1 I'm not sure why Republicans think it's a responsible move to attack the IRS, encourage its most experience staff to quit and cut taxes for billionaires. Revenue down, yet spending remains (for Republican priorities).

Japan, China, Canada and the EU hold a lot of America's national debt. And at the rate Trump is fracturing those alliances, they could easily dump that debt and we can watch rates soar in this country, at the same time we have bad inflation.

Then our goose will truly be cooked.

Because most truly rich don’t pay personal taxes, so they don’t care about them. What they want is their businesses not to pay taxes either, and getting rid of IRS staff and regulations is an easy way to do that.

[Anonymous]

Anonymous wrote:The national debt is around $38 trillion and increasing at a rate faster than GDP growth. Servicing the interest on the debt is already the single biggest item in the federal budget. Obviously, none of this is sustainable. And there will likely be a major financial crisis as Trump isolates the US and the rest of the world drops the US dollar as a reserve currency.

The American political system is obviously very broken. Both parties have been captured by the billionaire class. Inflation will be the primary means used to deal with the debt. This means very high interest rates in the years ahead. Taxes will be raised, but mostly on what remains of the MC and UMC. Fees for everything are also going to skyrocket.

The super-wealthy - the 0.001 percent - won't be touched until there is a proper revolution. In the meantime, they will float like vultures over the American economy and pick up assets for pennies on the dollar. The model is Russia in the 90s - an oligarchy that rules and feasts while the rest of the country collapses and sees living standards plummet.

+1. Finally someone sees it. Unfortunately it’s too late as the oligarchy already took over.

[Anonymous]

Everyone's taxes would have to go up substantially. Not just the "rich" and you're kidding yourself if you think otherwise.

[Anonymous]

Anonymous wrote:Everyone's taxes would have to go up substantially. Not just the "rich" and you're kidding yourself if you think otherwise.

No. Just the ultra rich would need to be taxed

Trump paid $750 in taxes in 2015 and 2016

How about we start there?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Everyone's taxes would have to go up substantially. Not just the "rich" and you're kidding yourself if you think otherwise.

No. Just the ultra rich would need to be taxed

Trump paid $750 in taxes in 2015 and 2016

How about we start there?

Oops, let me correct that

$750 in 2016 only

Wouldn't want to say he isn't paying

[Anonymous]

Anonymous wrote:

Anonymous wrote:OMG the fear mongering from you people. Yes we have debt, but it's not that big of a deal. We have and will continue to have the best economy. The dollar is the reserve currency. The IMF without the US will simply collapse. We are the most innovative country. We are the most lucrative market. We have a very high purchasing power.

No OP taxes will not need to rise because there is not going to be a debt crisis.

LOL. This is exactly why other countries are pushing for currencies other than the dollar to be the reserve. It will happen sooner than you think.

Their own citizens don't trust their own currency. Good luck with that. People always want dollar.