Anonymous wrote:If you are a boomer hoarding assets, you need to act fast and transfer as much as you can to your kids NOW. If you keep being greedy and having orgasms over the size of your assets, your kids are going to pay huge taxes on their assets that you plan to give them a few hours before you are dead.

My parents are poor and I am supporting them in retirement, so it's not like I am one those kids waiting.

All I am saying is you will do them a favour because the level of debt this country is accumulating is scary.

Anonymous wrote:Too bad every single person on this forum will do everything in their power to avoid paying taxes, but simultaneously complain that the ultra wealthy dont pay enough.

This is massively evident by the extreme TDS mixed with posts on tax planning strategies. The hypocrisy is unreal.

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Anonymous wrote:The number of people on this forum who think they can predict the future is just staggering. Dunning-Kruger effect is just off the charts.

For a good laugh, take a look at predictions by famous economists and investors worth billions of dollars.

No one know the exact future but we can all tell the weather when storm clouds are coming

Have seen many dire predictions on DCUM. Have watched dollar rise and fall and rise and fall. Know that EU countries have moribund economies and plenty of their own political problems. Know China is a ruthless mercantilist dictatorship. Don't play these hysterical fear games on here just because you don't like the current WH incumbent.

The difference is that they actually are competent compared to the current WH resident and his lackeys who are intent on lining their pockets alone.

When even I start trusting what China says over what comes out of this White House (because MAGA will tell the most blatant lies which are easily searchable), you've got a problem

And the rest of the world actually get news reported to them. Not the slop you consume. They can SEE the U.S. has no clothes.

Anonymous wrote:If you are a boomer hoarding assets, you need to act fast and transfer as much as you can to your kids NOW. If you keep being greedy and having orgasms over the size of your assets, your kids are going to pay huge taxes on their assets that you plan to give them a few hours before you are dead.

My parents are poor and I am supporting them in retirement, so it's not like I am one those kids waiting.

All I am saying is you will do them a favour because the level of debt this country is accumulating is scary.

Anonymous wrote:Federal Debt to Hit Record Levels, Budget Office Warns

https://www.nytimes.com/2026/02/11/business/federal-debt-record-levels-budget-office.html
The country is still on track to borrow what economists consider an alarming amount of money in the coming years. But the situation, on paper at least, has gotten only somewhat worse, but not significantly, under Mr. Trump’s unorthodox policy mix.

Those were the findings of the Congressional Budget Office, the nonpartisan scorekeeper, in its annual benchmark forecast for the federal budget released on Wednesday. Compared with its projections from January 2025, before Mr. Trump took office, the federal government is now expected to run a $23.1 trillion shortfall over the next nine years, rather than a $21.8 trillion one, a $1.4 trillion wider gap.

The C.B.O. said that the amount of debt held by the public is expected to become much larger than the annual output of the economy, reaching 120 percent of gross domestic product in 2036. That would surpass levels reached in the aftermath of World War II and put the world’s most important economy at risk of a destabilizing debt crisis.

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Anonymous wrote:At a minimum we should stop cutting taxes for billionaires.

I am in favor of abolishing loopholes. However, that alone is insufficient.

More people need to pay more tax. The progressive nature of our tax system means most of the population is subsidized by a tiny fraction of more productive and more successful taxpayers.

The average income tax rate in 2022 was 14.5 percent. The top 1 percent of taxpayers paid a 23.1 percent average rate, six times higher than the 3.7 percent average rate paid by the bottom half of taxpayers.

The top 50 percent of all taxpayers paid 97 percent of all federal individual income taxes, while the bottom 50 percent paid the remaining 3 percent.

How is punishing success even remotely "fair"? A flat tax is fair. No deductions, no credits, no use of the tax code to reward or discourage specific taxpayers behaviors, just a mechanism to collect enough money to pay for essential government services, with no ulterior social or political purposes.

It’s really not “fair.” 5% of 50000 would be felt vastly more than 20% of 500000

No, the absolute #s are different but proportional, the relative extent of the sacrifice to the Treasury is identical.

Progressive taxation is punitive. It disincentivizes financial success and rewards a lack of it.

https://www.heritage.org/taxes/commentary/flat-tax-the-way-the-future

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Anonymous wrote:At a minimum we should stop cutting taxes for billionaires.

I am in favor of abolishing loopholes. However, that alone is insufficient.

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Anonymous wrote:At a minimum we should stop cutting taxes for billionaires.

I am in favor of abolishing loopholes. However, that alone is insufficient.

More people need to pay more tax. The progressive nature of our tax system means most of the population is subsidized by a tiny fraction of more productive and more successful taxpayers.

The average income tax rate in 2022 was 14.5 percent. The top 1 percent of taxpayers paid a 23.1 percent average rate, six times higher than the 3.7 percent average rate paid by the bottom half of taxpayers.

The top 50 percent of all taxpayers paid 97 percent of all federal individual income taxes, while the bottom 50 percent paid the remaining 3 percent.

How is punishing success even remotely "fair"? A flat tax is fair. No deductions, no credits, no use of the tax code to reward or discourage specific taxpayers behaviors, just a mechanism to collect enough money to pay for essential government services, with no ulterior social or political purposes.

It’s really not “fair.” 5% of 50000 would be felt vastly more than 20% of 500000

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Anonymous wrote:

Anonymous wrote:At a minimum we should stop cutting taxes for billionaires.

I am in favor of abolishing loopholes. However, that alone is insufficient.

More people need to pay more tax. The progressive nature of our tax system means most of the population is subsidized by a tiny fraction of more productive and more successful taxpayers.

The average income tax rate in 2022 was 14.5 percent. The top 1 percent of taxpayers paid a 23.1 percent average rate, six times higher than the 3.7 percent average rate paid by the bottom half of taxpayers.

The top 50 percent of all taxpayers paid 97 percent of all federal individual income taxes, while the bottom 50 percent paid the remaining 3 percent.

How is punishing success even remotely "fair"? A flat tax is fair. No deductions, no credits, no use of the tax code to reward or discourage specific taxpayers behaviors, just a mechanism to collect enough money to pay for essential government services, with no ulterior social or political purposes.

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Anonymous wrote:At a minimum we should stop cutting taxes for billionaires.

I am in favor of abolishing loopholes. However, that alone is insufficient.

Anonymous wrote:At a minimum we should stop cutting taxes for billionaires.

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Anonymous wrote:100000% yes.

It will be subject to intense political debt, but we have no choice.

And I say this as a conservative. I honestly don't think the average American understand how much debt we have and that at some point it will have to be repaid.

It's going to be ugly because we are aging as a population and soon births will likely come to a halt.

Cutting promised entitlement such as social security and Medicare have proven to be impossible.

Why would that be the solution when billionaires can be taxed and wouldn't even notice it?

You can tax all the billionaires 100% and it still would not fully cover the debt.

that is just not true- Elon musk will earn a trillion $s as his own personal income for one (!) 1 calendar year. if we stop instigating stupid foreign wars, stop foreign aid and tax the .01% we can get rid of it. but we wont so I'm trying my best to provide alternative citizenships for my kids so they actually get something for the taxes they pay-- we pay 40% in tax and have the exact same lifestyle as our siblings in the EU (we pay through the nose for our kids schools, they get the same for free, same with healthcare but they are EU not Britain, UK family all do stints of tax free living in UAE to attain same level of nice SF house, good school and luxury car/vacation, good health insurance as us)