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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][b]There aren't enough rich people.[/b]

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.[/quote]

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?[/quote]

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.

[b]Meanwhile, close to half the country pays no income taxes whatsoever.  They just skate. [/b]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
[/quote]

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. [/quote]

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