If you took the value (not just available money but full worth) of all billionaires (if they sold everything they had) it wouldn’t come close to paying off the debt. It would also significantly affect things way more than taxing the “poor”. Tariffs might be able to do it.
Funny you think that taxing the rich is not going help pay off all the debt (no one says that alone will fix the debt problem), but advocating for tariffs is basically taxing everyone across the board. And who is actually going to be hurt by this? The ordinary folks. The rich don’t care about paying more for groceries and goods because they can afford to pay more for the extra costs imposed by tariffs.
And since you mentioned about the Great Depression in your other reply, guess which is a contributing factor to the Great Depression? That’s right, tariffs. It was imposed over one hundred years ago by none other than the Republican party. Ted Cruz himself said to stop imposing tariffs and shaking up the stock market, or they will lose both the house and senate again for another 60 years like the last time!
Tariffs can generate revenue, but it is a short term solution that will create a long term problem.
Yep. Came to say, taxing the snot out of the rich isn’t a whole solution. Seems some people can’t work a calculator, let alone figure broader economic impacts. But talk to conservatives IRL, anything less than a 100% fix is a fail.
Few years back they bagged on solar. “Can’t possibly meet ALL our energy needs!” No, it can’t, not the goal. When Germany got to something like 23% solar, Fox News was like, “Yeah, but they have more sunshine. Can’t work here.” Really, they said that.
How would tariffs work in the shirt, mid, long term? Short-term seems like a disaster.
Yeah, but you can’t splat the money out like paste.
Buddy of mine in the 90s was enraged when he found out we shredded worm bills. “They could give that to people like us!”
“Well, yeah. The government could also give us a million bucks each, today. Agreed?”
“Fuck yeah!”
“So, you know I mow lawns for a living, $20 a pop for most places? If I had a million bucks, why would I work for $20?! I’d hit ya for $20,000, at least!”
“Yeah, but I got $20,000! No problem!”
“How much you think a burger would cost?”
“McDonald’s got a sweet deal for $5! We could eat like kings!”
While I’m all about taxing the snot out of the rich… jesus, the simple mindedness of some folks. (Not baggin’ on you OP!)
And so much of that money isn’t real money. If we hit Musk with $300B in taxes, could he pay it? He cashes in stock, stock crashes, he’s got less, rinse and repeat. Not defending the parasite, just saying, much of these billionaires money is imaginary, would disappear faster than we could snatch it.
FFS, now I understand the Great Depression more and more. Guess we should have taxed them before they had economy crashing wealth. Live and learn!
If you took the value (not just available money but full worth) of all billionaires (if they sold everything they had) it wouldn’t come close to paying off the debt. It would also significantly affect things way more than taxing the “poor”. Tariffs might be able to do it.
Funny you think that taxing the rich is not going help pay off all the debt (no one says that alone will fix the debt problem), but advocating for tariffs is basically taxing everyone across the board. And who is actually going to be hurt by this? The ordinary folks. The rich don’t care about paying more for groceries and goods because they can afford to pay more for the extra costs imposed by tariffs.
And since you mentioned about the Great Depression in your other reply, guess which is a contributing factor to the Great Depression? That’s right, tariffs. It was imposed over one hundred years ago by none other than the Republican party. Ted Cruz himself said to stop imposing tariffs and shaking up the stock market, or they will lose both the house and senate again for another 60 years like the last time!
Tariffs can generate revenue, but it is a short term solution that will create a long term problem.
Yep. Came to say, taxing the snot out of the rich isn’t a whole solution. Seems some people can’t work a calculator, let alone figure broader economic impacts. But talk to conservatives IRL, anything less than a 100% fix is a fail.
Few years back they bagged on solar. “Can’t possibly meet ALL our energy needs!” No, it can’t, not the goal. When Germany got to something like 23% solar, Fox News was like, “Yeah, but they have more sunshine. Can’t work here.” Really, they said that.
How would tariffs work in the shirt, mid, long term? Short-term seems like a disaster.
You really need to get your fact together again.
Globally:
https://www.oxfam.org/en/press-releases/richest-1-bag-nearly-twice-much-wealth-rest-world-put-together-over-past-two-years
Focused on the US:
https://www.snopes.com/news/2023/04/13/728-billionaires-hold-more-wealth/
Yeah, but you can’t splat the money out like paste.
Buddy of mine in the 90s was enraged when he found out we shredded worm bills. “They could give that to people like us!”
“Well, yeah. The government could also give us a million bucks each, today. Agreed?”
“Fuck yeah!”
“So, you know I mow lawns for a living, $20 a pop for most places? If I had a million bucks, why would I work for $20?! I’d hit ya for $20,000, at least!”
“Yeah, but I got $20,000! No problem!”
“How much you think a burger would cost?”
“McDonald’s got a sweet deal for $5! We could eat like kings!”
While I’m all about taxing the snot out of the rich… jesus, the simple mindedness of some folks. (Not baggin’ on you OP!)
And so much of that money isn’t real money. If we hit Musk with $300B in taxes, could he pay it? He cashes in stock, stock crashes, he’s got less, rinse and repeat. Not defending the parasite, just saying, much of these billionaires money is imaginary, would disappear faster than we could snatch it.
FFS, now I understand the Great Depression more and more. Guess we should have taxed them before they had economy crashing wealth. Live and learn!
Guess what, a large part is government debit.
And also, WTF, nobody said anything about splatting the money. What are you talking abut?