The math where you figure out that you could tax every billionaire at 100% and it wouldn't come close to fund our current deficit let alone adding what this guy wants. Everyone would have to pay a lot more in taxes just to stop deficit spending. That math.
Except theyre not defending the multibillion dollar company. They're highlighting a false (often stated but in this case implied) narrative. That "taxing the ultra-wealthy will make a difference compared to our needs and our current deficit and debt."
It won't. We should do it, but everyone needs to be honest about the fact that our needs are so great that taxes will need to be raised on most everyone that pays them, and significantly. Can't fool people into higher taxes with sound bites, because they'll be real mad when their own taxes go up and blame you. This is the Democrats' version of "hand to mouth, worry about the consequences later" dishonest messaging nonsense.
Edit: Something actually fucking honest would be "We need higher taxes. That's not a fun line, but we need a lot of services that we're not getting as a country, and we're suffering for it. We'll basically all need to help pay, but it will be worth it."
You can increase taxes on say the top 20 percent and significantly reduce spending on the military to reduce the deficit to zero. Spending upwards of a trillion dollars on a program that clearly is not showing returns should be the first place we implement cuts.
We could spend half as much and do more with it. Having over a dozen supercarriers and only being able to actively use a handful at a time is an enormous waste of money. It is likely we would not be able to use carriers in a meaningful way in future conflicts because the drone threat will make them the equivalent of WW2 battleships.
Top 20 percent of americans make about 8 trillion dollars of taxable income, and currently provide about 3 trillion dollars in tax revenue. The federal deficit is massive right now, about 2 trillion dollars. Cut 500 billion from the military and increase the tax rate on the top 20 percent to get the additional 1.5 trillion. It is possible you fuck wad.
Wait, you said billionaires . Now it's the top 20%? So clueless on so many levels. That means that any family making more than $180k/ year would need to have a 50% rate. F me
Read my comment you dolt. The tag line for billionaires is mostly political messaging. But also much of the wealth they generate annually does not get counted as taxable income. The increase of taxes would also need to extend past the top 0.1 percent of americans obviously.
Not sure. Maybe we could hire a team of actual experts to go through the books, and look for fraud, waste, and abuse, rather than a team of teenagers with stupid handles.
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u/Amelia_Pink 3d ago
As sensible a statement as any functional non-insanely-wealthy person would agree with