Anonymous
Anonymous asked in Politics & GovernmentElections · 1 decade ago

If the rich paid their taxes and returned stolen money, how long would it take to repay the US national debt?

The clincher is that the $100 billion your rich class heroes are stealing each year is in fact the actual money which is borrowed against "your" national debt. That is:

1. Your government borrows it.

2. The borrowed money is passed to the rich.

3. The rich move the money to overseas havens.

4. YOU pay the money back to the lenders over decades of blood and sweat labor.

Seems to me you have two choices: either (1) to have a nice career, or (2) to take your money back from the rich class thieves.

Where are all those super-tough hero conservative gunners when they are ACTUALLY needed? Seems I only encounter them threatening innocents like me within this forum.

Update 2:

Toddy, I am employed by a cooperative overseas. I don't work for your rich class thieves.

How's that plan?

Your world is so disappointingly simple.

Update 3:

Conclusion 1: Obvious evidence of the most massive thievery in history, and you still support them.

Conclusion 2: Have a nice career.

Update 4:

crunch: for all your calculations, facts are that if currently annual payments toward debt are $400 billion, then this added $100 billion represents a minimum 25% increased annual payment (add interest).

13 Answers

Relevance
  • Anonymous
    1 decade ago
    Best Answer

    I'd say one or two administrations. Don't expect it in this lifetime without a major war though.

  • 4 years ago

    Olson is a TV Evangelist the highest paid preacher in the history of the world. He is on Forbes list of richest men in America and is just below the Wal Mart Fortune and Bill Gates. He has fleets of jets and fleets of cars and he writes books and pays no taxes. Has huge mansions kings never had, I think to date 4. Summer houses, winter houses. Most TV Evangelists would not even get out of bed for less than a million for one sunday sermon. they do not donate to anyone or anything. They just say send me money and God will make you rich. If your gay, old or what ever God loves you. Now send money. Olson in an article has 4 people employed full time just to open mail and remove checks and stamp them and cash. He and others collect the money in wheel barrows at some big gatherings. Someone already figured that out and said if I can remember it correctly. We have enough of the public money to pay off the national debt, shore up medicare and social security and feed the poor in 3rd world countries. It is all donated money to help the poor which never gets there and that is in religion. The Catholic Church alone would put the countries where it is back on its feet financially. Then the money donated for mosques, temples and other religious buildings charities like feed the children and others who never feed the children. What actually hinders their ability to feed the children? Organized religion! When there are no more starving children to advertise they do not get funds. Which they only send maybe a dime out of a hundred. TV evangelists says we build hospitals and colleges but they are not free, you pay more to go there then government sponsored colleges. Why? So your children can hear a prayer before school. they are the most corrupt organizations on the planet, if organized crime did half as much deception they would be gunned down in the streets. That was the main idea of the article.

  • crunch
    Lv 6
    1 decade ago

    Sorry, but if the debt remained the same and was interest free, it would take about 130 years to pay it off using the 100 Billion the IRS claims it can't recover.

    Considering things aren't likely to remain the same, collecting the "missing" 100 billion a year won't even cover the annual interest on the debt.

    In Fiscal Year 2008, the U. S. Government spent $412 Billion on interest payments* to the holders of the National Debt, and that essentially went to cover the interest on the non-intragovernmental debt, or about half of the total debt. The rest the government owes to itself in one way or another and on a portion of that it pays interest to itself.

    The remainder of the intragovernmental debt is looted money, stolen that is to say, and being "off the books" earns no interest.

    Edit: The 400 billion paid in 2008 did not go toward paying the debt, merely the interest on the debt. Sort of like paying the minimum payment on a credit card, the debt is not reduced.

    The biggest problem with the debt currently is not what is owed to "investors" in government bonds, it is with Social Security overpayments to the government that result in "surpluses" with those surpluses being parked in government bonds, which immediately turns those surpluses into deficits in the "lock box", which through the years has added to the overall national debt.

    In other words, about half the national debt is money looted from the tax payers by the government and it amounts to trillions of dollars. You are complaining about a measley 100 billion when the government is operating the biggest Ponzi in the history of the world.

    What ever the rich did to earn their money as long as it was consistant with natural law, that money is not stolen.

    However, I'm all for holding all government class thieves accountable who operate through unnatural law which is based on "lawful plunder".

  • Anonymous
    1 decade ago

    Wow.. just wow. If the rich paid their taxes? The top 5% of this nation pay "70%" of the budget for the government while the other 95% pays only 30% and you are asking the rich class why they are trying to take some back? But really I think you are right, maybe that five percent should just pay ALL of the government budget and let the rest of the population get a free ride. That's normally how it goes. Tax those small business owners and people who supply the US with the greatest amount of jobs so much that they don't see the benefits of hiring anyone anymore. Take all the risk with no rewards. Yeah that's a good plan. Damn rich people giving you a job so you can provide for your family.

  • How do you think about the answers? You can sign in to vote the answer.
  • Anonymous
    1 decade ago

    What a loaded question.

    1. The rich do pay their taxes, however the overseas business tax rate, considering the use of subsidiaries, is close to 0%.

    2. Paying the national debt off isn't the solution to our economic crisis, however keeping it at a reasonable level would help.

    3. No change in tax law is going to keep the rich from being rich. It takes the government several months to change the law, it takes a corporation several days to change their policy.

    4. Quit pointing fingers and look for a realistic solution.

  • TAT
    Lv 7
    1 decade ago

    The lower forty percent of wage earners don't pay taxes. The top one percent of wage earners pay forty percent of taxes. Only Obama's cabinet is not expected to pay taxes. The govt is not funding the rich. That is just plain foolish. The social programs are given to the poor and the lazy. They are not given to the rich. The govt is the thief. The rich are the ones that invest in the country. They are the ones that create jobs, invest in the market, spend money that keeps people employed. The welfare mom is not helping the economy.

  • 1 decade ago

    Pluto, greed isn't a virtue, and it's universal. For the sake of avoiding taxes, hiding money is simply dishonest, at least to those who pay up. It will be interesting to see how many Japanese are on the list of off-shore accounts, along with the Americans, Canadians, Mexicans, Europeans and high roller investors in the Maddof scam.

  • Anonymous
    1 decade ago

    When you and the rest of the hoi-polloi finally do slaughter all the golden egg laying geese, you aren't going to have any gold.

    You think wealthy people are fleecing you? That they don't pay taxes or contribute to society? You figure out how to accomplish more than this guy and then you can talk.

    http://en.wikipedia.org/wiki/Henry_Rowan

  • Anonymous
    1 decade ago

    the "rich" do pay their taxes and there isn't any "stolen money."

    IF the upper income people paid every cent they earned, and didn't keep any of it, it would be decades before the sh*t spending was paid off.

    Source(s): Barry is DANGEROUS!
  • Anonymous
    1 decade ago

    You mean like the Kerrys, Kennedys and Pelosis?

Still have questions? Get your answers by asking now.