Quote:
Originally Posted by biker1
Nonsense. The debt is $36T and the annual deficit is $2T. You can’t extract that much money from the higher tax brackets, which already pay the majority of taxes (which are about $5T per year). You have no concept of the numbers involved. BTW, we aren’t a democracy.
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You can make a tax system do ANYTHING that you want or choose. You could make the top tax bracket pay 80% of their income (with no deductibles) if a country wanted to. Then the debt would be paid down quickly. In the 50s the upper tax bracket was around 80%. Then it steadily decreased due to pressure on elected Federal officials. Today the tax system helps the top 10 and 1 %. It hurts the middle and lower classes. But, I guess that is a super SECRET that they don't teach in high schools anymore ( maybe purposefully to keep them ignorant.)