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We're spending a trillion a year to service debt. The equivalent of ~45% of all income tax revenues. Utter insanity.
by marcusverus 2y ago
We're spending a trillion a year to service debt. The equivalent of ~45% of all income tax revenues.
Utter insanity.
- ttyprintk 2y agoA lot of Trump supporters would identify the super-rich as the right demographic to pay that.
- marcusverus 1y agoIf you took everyone with >100M in net worth, put them up against the wall, and seized every dime they own, you'd get ~30T (in a best-case scenario). Even if you used it to pay off the debt, we'd still be running trillion-dollar deficits every year. If our debt and deficits are a revenue problem, they are objectively insoluble.
- Spooky23 2y agoNo. The world needs our cash to transact by the truckload. We effectively tax the world by printing more.
- marcusverus 1y agoThis in no way contradicts the fact that we're spending one trillion dollars per year to service the debt.