PoBoy
Lv 7
PoBoy asked in Politics & GovernmentPolitics · 8 months ago

Another month, billions more added to the debt. How will we pay it back?

12 Answers

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  • david
    Lv 7
    8 months ago
    Favorite Answer

    The last billion was added the next year after Trump gave the rich a billion-dollar tax cut.  The debt increases when the rich get tax breaks.  Buffett says his tax rate is less than his housekeeper's.  Why would he lie about it?  ===  The only way to lower the debt is to tax the rich at the same rate or higher than everyone else.  ===  During and after WW2 (until about 1960) the richest people paid a 94% tax rate and the economy boomed.  Lowering the taxes on the rich does NOT boost the economy.  The economy is boosted by consumers.  How many homes do the 1% own?  look at a little math == 1% of 350 million is 3.5 million.  leaving 346.5 million in the 99%.  So they buy 5 houses each .. That is only 17.5 million houses. ---  Still 346.5 million people can buy more houses and stimulate the economy much more.

  • 8 months ago

    One word................taxes.

  • 8 months ago

    Borrow it from ourselves make more cash.

  • 8 months ago

    Who are you going to pay it back to?

    Who was this wondrous entity that had a box full of $trillions that you were borrowing from?

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  • 8 months ago

    The deficit only matters when the Democrats are in the White House.

  • 8 months ago

    If it weren't for the $20 Trillion inherited from 0bama , the current 2.2 would be a 'cake walk' . 

  • 8 months ago

    We'll borrow money to pay back the money we borrowed.  

  • Anonymous
    8 months ago

    We won't. 

    Do you think that having zero national debt is a good thing?

  • Anonymous
    8 months ago

    The national debt and reckless spending is only a problem when the Democrats are in power.  When Republicans are in power we're not supposed to think about it.

  • Dze
    Lv 7
    8 months ago

    you cant without drying up the money supply .. the banks will own everything in the end ... thats the scam ...

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