How long before the U.S. is bankrupt?
The interest alone is costing us close to 1 Trillion dollars.
I'm starting to believe it is all a house of cards.
I'm starting to believe it is all a house of cards.
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The super wealthy and corporations should be required to do their patriotic duty and pay their fair of taxes. Here are some good ideas for increasing federal revenue:
1. Congress should outlaw off-shore tax havens. Corporations and wealthy individuals stash their money in these tax havens, out of the U.S. economy.
2. The philanthropy laws need to be completely re-written; they are just a huge tax dodge for the wealthy.
3. Many corporations pay a much lower percent of income taxes than the average person. They have rigged the tax laws in their favor, so a great deal of their income is declared non-taxable. Let's end that.
4. Congress should pass a small tax on transactions in securities and derivatives. Say 1/4 of 1%. That would bring in a huge amount of revenue.
5. Cut defense spending. Defense spending should be limited to 1.5% of GDP unless Congress passes a declaration of war. Also, we need a annual audit of pentagon spending, with serious penalties for defense contractors who over-charge the tax-payers.
6. Outlaw stock buy-backs.
1. Congress should outlaw off-shore tax havens. Corporations and wealthy individuals stash their money in these tax havens, out of the U.S. economy.
2. The philanthropy laws need to be completely re-written; they are just a huge tax dodge for the wealthy.
3. Many corporations pay a much lower percent of income taxes than the average person. They have rigged the tax laws in their favor, so a great deal of their income is declared non-taxable. Let's end that.
4. Congress should pass a small tax on transactions in securities and derivatives. Say 1/4 of 1%. That would bring in a huge amount of revenue.
5. Cut defense spending. Defense spending should be limited to 1.5% of GDP unless Congress passes a declaration of war. Also, we need a annual audit of pentagon spending, with serious penalties for defense contractors who over-charge the tax-payers.
6. Outlaw stock buy-backs.