Originally posted by @mghrn55 And when the rich are gone ?
Then what ??
Gone where?
If there were no more rich people the price of housing would go down. Housing is expensive because the wealthy are buying up all the housing so they can rent it for profit. Then they do everything they can to evict the poor so they can charge more rent.
Originally posted by @great-king-rat I believe the subject was the US debt, which was already mightily high during the Obama years. Not "taxes on rich people".
Taxes on rich people provide revenue which can be used to pay down the debt.
Originally posted by @tom-wolsey Great idea. Too bad the government has shown zero intention of ever paying down the debt. So then where does the money go.
Economist Mike Kimel has noted that the former Democratic Presidents (Bill Clinton, Jimmy Carter, Lyndon B. Johnson, John F. Kennedy, and Harry S. Truman) all reduced public debt as a share of GDP, while the last four Republican Presidents (George W. Bush, George H. W. Bush, Ronald Reagan and Gerald Ford) all oversaw an increase in the country's indebtedness.
Economist Mike Kimel has noted that the former Democratic Presidents (Bill Clinton, Jimmy Carter, Lyndon B. Johnson, John F. Kennedy, and Harry S. Truman) all reduced public debt as a share of GDP, while the last four Republican P ...[text shortened]... h, Ronald Reagan and Gerald Ford) all oversaw an increase in the country's indebtedness.
Wow, what a shocker. Anything to make less government, which I call abrogation of responsibility so companies, having bought US government, can go back to dumping toxins into local creeks, cut pay to 4 bucks an hour, increase working hours, give no medical benefits and so forth.
27 Jun '18 18:142 edits
Coming US financial crisis:
YouTube : Trump and Debt
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