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Jacson6

(2,014 posts)

91. Congress can just pass a constitutional amendment to allow bankruptcy for the Federal Gov't

Reply to True Dough (Original post)

Sat Aug 19, 2023, 11:10 PM

Aug 2023

Then we could settle the national debt for 10 to 20 percent of it's value. IMHO.

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What would you suggest be done about growing government debt? [View all] True Dough Aug 2023 OP

Raise taxes snowybirdie Aug 2023 #1

Has anyone ever done the math? Takket Aug 2023 #4

This was a Limbaugh talking point, newdayneeded Aug 2023 #42

The GWB cuts + the Trump cuts Dave says Aug 2023 #71

well i took a stab at it myself....... Takket Aug 2023 #75

They DO NOT pay 37%, newdayneeded Aug 2023 #88

To be more specific Wonder Why Aug 2023 #35

Excellent ideas! True Dough Aug 2023 #79

There's a common refrain on some discussion forums... True Dough Aug 2023 #80

Tax the rich, for starters EYESORE 9001 Aug 2023 #2

Tax the rich, gab13by13 Aug 2023 #3

Tax the rich, cut military spending. Autumn Aug 2023 #5

Tax every dollar of a person who has over 10 million. jimfields33 Aug 2023 #8

The military always gets more than they ask for. Fuck em. Cut it to the bone. Autumn Aug 2023 #11

They normally get more than 2 percent. I'm trying to be realistic. jimfields33 Aug 2023 #14

Neither will realistic ideas. The military gets what they want the, wealthy will never be taxed. Autumn Aug 2023 #37

+1 n/t area51 Aug 2023 #90

Start taxing churches and their property? pwb Aug 2023 #6

And every non profit too. Nobody should be able to not pay taxes. jimfields33 Aug 2023 #12

NGOs were created to avoid taxes - nothing more. walkingman Aug 2023 #26

No thanks. edisdead Aug 2023 #40

A flat taxer? dpibel Aug 2023 #55

I dimly recall hearing Dave says Aug 2023 #72

You'll never guess which churches will close there doors if this happens. jimfields33 Aug 2023 #27

agreed BlueWaveNeverEnd Aug 2023 #78

First off, deep dive inquiries into perceived RIP-OFFS on govt. contracts? Brainfodder Aug 2023 #7

What percent of GDP? Hermit-The-Prog Aug 2023 #9

Much of that debt is owed to the Federal Reserve System and SS Trust Fund Kaleva Aug 2023 #10

We should at least try to pay off our foreign debt. jimfields33 Aug 2023 #16

We could forgive the domestic debt, like what was done with student loans Kaleva Aug 2023 #20

Basically it's just money taken from social security jimfields33 Aug 2023 #22

Removing the cap might make up for the loss Kaleva Aug 2023 #53

A significant amount of the domestic debt is owed to people that bought treasury bills MichMan Aug 2023 #24

About 1% is in savings bonds Kaleva Aug 2023 #51

Not savings bonds, treasury bills MichMan Aug 2023 #56

Donald recommended defaulting on the national debt. keithbvadu2 Aug 2023 #47

Call it "debt forgiveness" like it was with student loans. Kaleva Aug 2023 #52

There is no such thing as "foreign debt" A HERETIC I AM Aug 2023 #69

Quit electing republicans. Emile Aug 2023 #13

Best answer yet - revenue lost from tax cuts and debt during GOP administrations. walkingman Aug 2023 #28

That, more than anything, is key Dave says Aug 2023 #74

Eliminate trump tax cuts...start there JT45242 Aug 2023 #15

Your wish is happening in 2026, trump taxes expire. jimfields33 Aug 2023 #18

A lot of people that dont itemize are going to be sorry when the standard deduction gets slashed. MichMan Aug 2023 #25

100 percent true. jimfields33 Aug 2023 #41

Same SickOfTheOnePct Aug 2023 #77

Got news for you... only the cuts affecting you and me expire zonemaster Aug 2023 #34

Doesn't matter. You'll still hear yelling and screaming from people. jimfields33 Aug 2023 #43

Clarification....the trump tax cuts for the Uber rich JT45242 Aug 2023 #38

Cut military spending by 5% and raise taxes on the uber wealthy and corporations. honest.abe Aug 2023 #17

5 ?!?!?! Only five percent? A HERETIC I AM Aug 2023 #73

Tax the rich. usonian Aug 2023 #19

Drown the Republican Party in a bathtub and raise taxes on the top 1%...nt Wounded Bear Aug 2023 #21

Debt denominated in USD is not an operational problem HariSeldon Aug 2023 #23

I have been hearing dire warnings about the national debt all of my 74 years of life Walleye Aug 2023 #29

Not true. former9thward Aug 2023 #67

That's what happens in Trickle Down Economics. Kid Berwyn Aug 2023 #30

Dick Cheney said deficits don't matter, that is when Republicans are in doc03 Aug 2023 #31

Tax the rich, end fossil fuel subsidies, carbon tax nuxvomica Aug 2023 #32

Elect Democratic Presidents. 617Blue Aug 2023 #33

Elect inthewind21 Aug 2023 #60

Nor is the president solely responsible for deficits MichMan Aug 2023 #66

Good luck with that since half of the country are not Democrats. Autumn Aug 2023 #76

Elect Democrats, period. DemocraticPatriot Aug 2023 #83

Billionairs should not exist. It's obscene, It's a fuck you to everyone who is not. Prairie_Seagull Aug 2023 #36

Stop giving uber rich tax breaks? edisdead Aug 2023 #39

Not mentioned here yet. newdayneeded Aug 2023 #44

"But they'll flee the country" True Dough Aug 2023 #82

Tax the rich Fiendish Thingy Aug 2023 #45

This! newdayneeded Aug 2023 #46

Cut the DoD budget by 1/3. maxsolomon Aug 2023 #48

Put this in perspective. We have a 20-25 trillion dollar economy. Owing one year or even two years c-rational Aug 2023 #49

Repel all the tax cuts to the 1% all they way back to Regun to start with. nt Hotler Aug 2023 #50

Those Reagan tax cuts were passed by a Democratic House MichMan Aug 2023 #57

Elect Democrats, whose policies bring it down even while Hortensis Aug 2023 #54

Ask Bill Clinton. moondust Aug 2023 #58

nothing, don't fret about it. The debt "scare" is what the GOP uses to not fund government Hamlette Aug 2023 #59

Tax billionaires more and slash the military budget. Sky Jewels Aug 2023 #61

a tax on all foreigners living abroad prodigitalson Aug 2023 #62

Have Treasury print a $3.27 trillion dollar bill and call it a day. Xavier Breath Aug 2023 #63

send a bill to the GW Bush crime cabal for their illegal and immoral Iraq war nt msongs Aug 2023 #64

No one has ever paid anything on the debt. quaker bill Aug 2023 #65

National debt isn't anything like household debt. hunter Aug 2023 #68

Raise taxes, especially on the rich. raccoon Aug 2023 #70

Tax the rich. And, print money to take care of what's needful. Elect Democrats. Do NOT let GOP... Hekate Aug 2023 #81

Fire all republican congress members. They hate government and they want to cut spending ecstatic Aug 2023 #84

Return to the tax rates of 1982, adjusted for inflation. roamer65 Aug 2023 #85

Go hard with "trickle up" economic policies and raise tax brackets. GoodRaisin Aug 2023 #86

Phased sunset of Trump and Bush taxcuts JCMach1 Aug 2023 #87

DJT dunking booth, .50 a throw, open 24/7/365 no breaks, should have debt down by 9/1/23, tyvm! Brainfodder Aug 2023 #89

Congress can just pass a constitutional amendment to allow bankruptcy for the Federal Gov't Jacson6 Aug 2023 #91