Our Real Crisis is the Debt Crisis

While we have been distracted by surface phenomena and international trivia, a profound crisis has been building. Administrations of both parties have helped create it; no administration of either party seems likely to address it. The outlook is ominous.

Our Greatest National Crisis? Denying the Great Debt Crisis

Myra Adams, RCP

". . . Our nation can’t continue down this path forever because, at some point, there will be forced entitlement cuts and, worse, national instability.

National needs outpacing revenue also dramatically applies to infrastructure. President Biden proposed a $2 trillion infrastructure bill with much fanfare, widening the term’s traditional definition. And if the bill manages to pass, it will substantially increase the national debt. The need is there, but the funds are not. Everyone sees crumbling roads, bridges, and now the daunting task of fortifying cyber systems that operate critical infrastructure. The Colonial Pipeline hack showcased our national vulnerabilities -- to the delight of our enemies.

Moreover, Biden’s new $6 trillion budget proposal looks like the Debt Clock’s projection of a $50 trillion national debt by 2025 could be on track.

But the most severe crisis facing our nation is denying the debt crisis. Instead, our weak-kneed leaders are afraid to level with the American people about the implications of rising debt while the government spends at rates that far exceed tax revenue and GDP. When was the last time you heard the president or leaders of either party speak out about this painful issue? Yet, any solution starts with recognizing the problem. . . ."

 

As long as Americans fight among each other, politicians can continue to spend like thieves with stolen credit cards. A tipping point will eventually be reached.

 

Perhaps we can find a way for the government to raise more money?

 

All the government has to do to raise more money is to tweak the tax code a little. He who controls the money supply controls everything.

 

As long s we allow the very wealthiest among us to pay federal tax at rates of 1 and 2% and less we can only expect the debt to keep growing for ever. Our multi billionaires are paying federal taxes at lower rates than McDonalds workers.

 

Yeah, because giving the drug addicts more drugs is a great solution.

 

Make our wealthiest citizens pay a reasonable FEDERAL INCOME TAX RATE, LIKE WORKING AMERICANS HAVE TO PAY!!!!!

 

Our wealthiest citizens already pay most of the taxes. Poor people pay next to none, as a percent.

 

They DO NOT PAY THEIR FAIR SHARE OF FEDERAL TAXES or anything remotely close to it !!!!

 

If the wealthiest amongst us paid the lowest FEDERAL INCOME TAX RATE OF 10 Percent they could pay off our national debt in several years.

 

Based on what? They pay MOST of the federal taxes.

 

And they are paying at rates of 2% and less, often ZERO rate.

 

Taxing the wealthy doesn’t do anything but screw the poor and middle class.

 

We do not have a revenue problem, we have a spending problem

 

Which is why they have us fighting each other.

 

Just eliminate the 98 billion dollar a year tax deductions and flat tax everyone..

 

You have virtually zero clue what you are talking about, but here you are.








You're welcome.

 

Do you read the CURRENT NEWS??? Our 25 wealthiest Americans despite making BILLIONS in a year frequently pay ZERO FEDERAL TAXES!!! Please let that sink in, or they pay next to nothing less than 25 of their annual earnings, while the very lowest rate available to Americas Hourly wage paycheck workers is 10 percent Federal tax rate.

 

Without the details, that statement is meaningless.

 

The dump of the tax records of the 25 wealthiest has been given to Pro Publica and has been inthe daily news for the past 3 days I suggest you avail yourself of it. They and their ilk and the politicians they pay to elect and pass a tax code that gives them a free pass are why we have a 28 trillion national debt.

 

Have you gone through the thousands of pages for each return? Because if you haven't, you are making meaningless statements.

 

That is false.

 

A drop in the ocean.

 

We all should be paying higher federal income taxes.

 

The concept is for government to spend less. If you give it more money, it will spend it and be back the next day for more.