3 ms·
> Why the middle class, which has mostly been taxed into not existing? With middle class I mean the population at large. > How about the upper class? Again,
by panick21_ 3y ago
> Why the middle class, which has mostly been taxed into not existing?
With middle class I mean the population at large.
> How about the upper class?
Again, because it simply doesn't work. Its a leftist fantasy to 'tax the billionaires' or 'tax the top 1%'.
Yes of course you can make the tax progressive and collect more from those groups. But that simply want get it done.
This is my point. Everybody has their pet peeve, their pet group or whatever. But that's simply not realistic.
The only thing that can balance the budget are either broad taxes on most of the population, or massive cuts in social spending. Yes, you might not like it, but its true anyway.
> As Warren Buffett says
Buffett can say whatever he likes, it doesn't change the numbers.
Go on the most extreme socialist tax the rich spree, eliminate billionaires take all their wealth. Have fun. Then add lots of new taxes for the Top 10%, have fun.
All of that helps, but doesn't change the fundamentals.
You simply can't have large European welfare state and not have much of the population to pay for it. And the US has such a large welfare state in terms of what they pay, even if not in the outcome.
- PaulDavisThe1st 3y agoMost of this I do not disagree with this, but the fact that you do not even mention cuts in defense spending stands out to me. It may be "unrealistic", but then so are cuts to social security, medicare and medicaid. Defense spending is not just a "pet peeve". We spend more on national defense than China, Russia, India, Saudi Arabia, United Kingdom, Germany, France, South Korea, Japan, and Ukraine — combined. There is ample scope to reduce our defense spending by massive amounts without threatening our national security.