Originally posted by USArmyParatrooper
We've covered this. Even for someone as wealthy as Buffett, one single person's taxes is a drop in the bucket relative to total tax revenues and the national debt.
I also confronted you with Republicans who are in the bottom 50% who say we should "expand the tax base" but don't volunteer to contribute. You say they're not being hypocrites. I ag ...[text shortened]... tax code is changed so that ALL top earners such as himself and Romney contribute more.
"He knows the ONLY thing that will generate a (meaningful) amount of revenue is if the tax code is changed so that ALL top earners such as himself and Romney contribute more."
He also knows that more revenue is not a solution to a system that is addicted to overspending. Recognizing his mortality, he sees that his heirs will squander his lifetime earnings, as will the government, and so does what he can to distribute it before his death. Gates is doing the same thing.
If someone where wealthy enough to pay off the national debt, and government raised taxes on the wealthy to eliminate the current deficit, it would not take long for politicians to create a new deficit, and then accumulate a debt equal to or worse than the current one.
It is time to recognize that regardless of the party of the President, for a long time our nation, both in government, and in our personal lives has been addicted to spending more than we produce. Reversing that course is the only path to survival.