Originally Posted by Rainger99 (Post 2346777)

Interesting article on global debt.

The world is sitting on a $91 trillion problem. ‘Hard choices’ are coming | CNN Business

The most disturbing language is that “Tackling America’s debt problem will require either tax hikes or cuts to benefits, such as social security and health insurance programs.”

The good news is that we may have another 25-30 years before the world economy collapses.

I am glad that I am not graduating high school this year.

Any comments or suggestions from any economists or financial experts? Is it as dire as predicted? Or does it exaggerate the problem?What are the solutions?

Originally Posted by Wondering (Post 2347283)

Easy solution - tax the billionaires and large corporations, like Amazon, who don't pay any taxes or at least not their fair share. Again, an easy solution!

Originally Posted by Wondering (Post 2347283)

Easy solution - tax the billionaires and large corporations, like Amazon, who don't pay any taxes or at least not their fair share. Again, an easy solution!

Originally Posted by dewilson58 (Post 2346848)

No need to pay it back.

30% of US debt is held overseas............if it's not paid back......the countries will survive. They are holding the debt..........it's really not "in the system".

Another ~30% is held by "US government". SSA, Federal Reserve, Retirement Agencies. Just "print money" when & if the funds are needed if the agency can not redefine.

The last ~40% is held by US individuals and institutions. As individuals die, right off the debt.....no passing to next generation. For institutions, write off 10% per year.

Flush the toilet.

:popcorn::popcorn::popcorn:

Originally Posted by Stu from NYC (Post 2347298)

Ever take a class in Economics? Typically corporations pass on taxes to their customers in the form of higher taxes.

BTW what is a fair share? 40%, 50%? Corporations and small businesses are the ones who provide jobs to grow the economy. They spend much more efficiently than the govt.

Originally Posted by Mazjaz (Post 2347271)

Sure can do but nobody will buy any new debt ever and our credit rating will be in the toilet and interest rates will climb higher for is being a deadbeat borrower.

Originally Posted by golfing eagles (Post 2347000)

I don't know where people get that idea from. We don't just print up extra money---we BORROW it---mostly from ourselves, some from other countries. Last I heard it was 15% international ownership---someone above posted 30%---it may have reached that by now. But the concept that someone in the Bureau of Printing and Engraving is working the presses overtime is nonsense

Originally Posted by Wondering (Post 2347283)

Easy solution - tax the billionaires and large corporations, like Amazon, who don't pay any taxes or at least not their fair share. Again, an easy solution!

Originally Posted by DPWM21 (Post 2347318)

Fairly tax *ultra* rich? Have I been misled that top 1% or so of business and individuals get deep exemptions? I looked at tax tables from 1900 forward and it appears that this group has steady decline in taxes paid? Idk?

Originally Posted by retiredguy123 (Post 2347325)

Raising taxes on the rich will not solve the problem. But, increasing the number of people who pay taxes could solve the problem. A tax system where half of the people pay no income tax is absurd. Everyone should have skin in the game.

Originally Posted by Cliff Fr (Post 2347344)

I was reading recently that tge Chinese government owes us quite a bit of money from the pre communist era that is still due

Originally Posted by OhioBuckeye (Post 2347303)

I hear you, so there’s nothing we can do about it. So in the last 3 1/2 yrs. who do you think is the blame for most of it?