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

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

The rich will flee, like in Europe and states like NY and CA. Only viable option is to cut spending and waste. We also need to look at alternative revenue sources...like tariffs. And no I'm not a Maga. Just worried about debt.

Americans are taxed on worldwide income. You can renounce citizenship but then the exit tax can be pretty painful.

Actually there is a proposal in the budget that eliminates tax on foreign income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

The rich will flee, like in Europe and states like NY and CA. Only viable option is to cut spending and waste. We also need to look at alternative revenue sources...like tariffs. And no I'm not a Maga. Just worried about debt.

Americans are taxed on worldwide income. You can renounce citizenship but then the exit tax can be pretty painful.

Actually there is a proposal in the budget that eliminates tax on foreign income.

Meant to say for citizens living outside of us

[Anonymous]

Anonymous wrote:

Anonymous wrote:DoD baby. Stop spending $70,000 on a $1 piece of plastic.

This. Most spending is DOD spending.

Most "discretionary spending" is DOD spending. Nondiscretionary spending is double that.

[Anonymous]

Don’t continue the tax cut expiring this year. Make the felon pay taxes. Make billionaires pay more percentage wise. Charge Walmart for every employee on public assistance.

[Anonymous]

GOP proposes a 4 Trillion dollar debt limit increase.

"fiscal conservatives" right

[Anonymous]

Anonymous wrote:GOP proposes a 4 Trillion dollar debt limit increase.

"fiscal conservatives" right

But...but...I thought DOGE was working to eliminate this waste.

[Anonymous]

They're not going to have to monetize it eventually. The Fed owns 5 trillion dollars in debt. They could cancel that immediately with no affect anywhere because it's already been printed and is in circulation.

[Anonymous]

Anonymous wrote:Don’t continue the tax cut expiring this year. Make the felon pay taxes. Make billionaires pay more percentage wise. Charge Walmart for every employee on public assistance.

The GOP controls the government and supports none of what you have posted.

[Anonymous]

Apparently the answer is to have Elon Musk audit the government's spending.

[Anonymous]

Anonymous wrote:Apparently the answer is to have Elon Musk audit the government's spending.

And increase it apparently.

[Anonymous]

Like anyone who has been loving beyond their means, we have two methods we can use to dig our way out of this hole: earn more and spend less.

We need to raise taxes on everyone, especially - but not limited to the rich.

We also need to make painful spending cuts in all areas - defense, entitlements, etc.

We should have done this decades ago, even if it was painful. We have to do it now, even though it will require sacrifice and suffering. If we don’t make the hard choices now and try to pass the problem along to deal with in the future, we are fast approaching the point where that will be mathematically impossible. Just as interest compounds on your investments, interest compounds on our national debt and having our credit rating downgraded certainly isn’t helping.

[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.

SSI is self-funded. It can only payout what it brings in SSI taxes and interest/principle from the SSI trust fund, which holds Treasury bonds. When the trust fund runs out, it will have to self-cut, unless Congress increases SSI taxes somehow. The easiest being to raise the cap on taxed wages.

[Anonymous]

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

#ThingsILoseSleepOver

The latest employment statistics show that immigration policy is not managed for the benefit of the average American.

Between January 2020 and January 2025, 88 percent (4.7 million) of the total increase in employment went to immigrants.
The share of working-age (16 to 64) U.S.-born men not in the labor force — neither working nor looking for work — remains near a historic high for an economic expansion.

[Anonymous]

Anonymous wrote:GOP proposes a 4 Trillion dollar debt limit increase.

"fiscal conservatives" right

Sigh. Plus tax cuts for billionaires. We can't continue this way for much longer. The world is realizing this country is no longer trustworthy as a political or economic partner.