There will be times when the country has to run a deficit eg Covid was a prime example. What we have right now is the wealth and owner class have been getting tax cuts since Reagan that have exploded the deficit and screwed wage earners. Wanna fix the deficit? Return to pre Reagan marginal tax rates, lift the cap on social security and Medicare taxes, bar most if all tax breaks, and institute a wealth tax of 5% on all fungible assets held worth over $50 million with exit taxes on all wealth.
7+ trillion spent in fy 2026,
5 trillion collected in 2025. 1 and some change trillion yearly deficit.
What do we do when we find ourselves in a hole? Stop digging.
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u/pewpewtopeepee 1d ago
There will be times when the country has to run a deficit eg Covid was a prime example. What we have right now is the wealth and owner class have been getting tax cuts since Reagan that have exploded the deficit and screwed wage earners. Wanna fix the deficit? Return to pre Reagan marginal tax rates, lift the cap on social security and Medicare taxes, bar most if all tax breaks, and institute a wealth tax of 5% on all fungible assets held worth over $50 million with exit taxes on all wealth.