Anonymous wrote:

Anonymous wrote:I have been hearing about a debt crisis since I was 18 years old. I am not 46. Where is the crisis?

The crisis is the increasing tax burden on our populace as interest on this debt grows. The purpose of this debt "seems to be" to not stop existing by getting paid off, but to keep increasing to multiply the interest which consumes a lot of not most of our income taxes we pay.

PP here. Thanks for elaborating.

Those advocating for a tax increase are welcome to start early and write an extra check to the US Treasury.

Anonymous wrote:If you try to tax the truly wealthy, they will just leave. It’s better that they stay and hire staff and buy goods here.

Econ 101. And, basic human psychology. Nobody sticks around long when they have more attractive options elsewhere. Look at the exodus from California, New Zealand, etc. to environments with lower taxes and more opportunities for people with ambition, as opposed to appeal to those who prefer to be dependent on government largesse instead of their own productivity.

Anonymous wrote:If you try to tax the truly wealthy, they will just leave. It’s better that they stay and hire staff and buy goods here.

I think a lot of local economies and products/services are supported by middle classes with upper middle spending and borrowing. "truly wealth", I am guessing is what we call mega wealth (ultra high networth individuals) do spend, but they spend differently. It would be interesting to see how much they truly contribute to local economies, local businesses, retail, dining, etc. IDK if anyone had done such analysis but it's way overdue to break down how ultra wealthy spend and where it usually goes and who benefits from their spending. Also comparing their investment in creation of businesses that employ people on middle/upper middle class pay with how much tax breaks they get by not living off W2 or other forms of highly taxable incomes. I am guessing a lot of "we need ultra wealthy to prop our economy" is bunk. But IDK really.

Anonymous wrote:I have been hearing about a debt crisis since I was 18 years old. I am not 46. Where is the crisis?

The crisis is the increasing tax burden on our populace as interest on this debt grows. The purpose of this debt "seems to be" to not stop existing by getting paid off, but to keep increasing to multiply the interest which consumes a lot of not most of our income taxes we pay.

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.

3million is your cut off for unnecessary wealth? That's insane!

If you try to tax the truly wealthy, they will just leave. It’s better that they stay and hire staff and buy goods here.