Topic: Trump proposes massive one-time tax on the rich to pay off national debt (Read 967 times)

I don´t know; if I was worth 5 billion dollars I doubt that I´d go into crisis mode if it dropped to 4.3 billion. It would still be enough for me and my extended family for centuries I guess.

Well, unlike you I don´t assume that they make it all back in the next days after they pay the tax. It´s more about years actually.

Which means that your assertion that this tax was "good" is without merit. 

The actual problem is not the backlog of debt, but the country's spending in excess of income year after year.  Attacking one without the other is laughably ridiculous.

Yeah, they´d soon figure out how to make up for this small setback. They are after all filthy rich which means that they´re good at making money. And they have plenty of people working on it anyway.

Rich people get their money selling products and services to the poor people. If they are taxed, they simply add the tax to the price of the products and services they sell to the poor. Thus, the poor pay the taxes that were placed on the rich.

There would be some of that but most would comply. I guess some of the richest guys would be paraded on TV and their patriotism hyped.

This is a great idea. However, I don't think that it can be put in to practice. For example, take the case of Sheldon Adelson. He is worth some $30 billion right now. If he is asked to churn out $4.5 billion as a one time wealth tax payment, then he will just renounce his American citizenship, and will buy a passport from Malta or Cyprus (that is, if he is not already having double citizenship).

Trump is right. Rich ppl should pull their weight and help to solve debt problem but i dont think that will happen anytime soon. Whole debt backed economy is moderated to rich ppl become richer and poor to stay down in the mud.

They need to recall soldiers sitting in countless bases around the world and put them to work repairing the infrastructure, roads, bridges, dams, etc etc. And put others to work with them. And transfer 250 billion from the military spending to those projects. It would be a good start.

This was written in 1999 but it does make me smile a bit because he can go back to it and be like Look at the Corporate tax rate then and look at it now Is America really doing great when we lost all these jobs and go on a tangent.
(Then at the end but it's people like me who make these jobs so vote Donald J Trump for president)

November 9, 1999
Web posted at: 6:24 p.m. EST (2324 GMT)

This whole idea is a Trump farce, designed to see how far you can pull the wool over the eyes of Americans.

This proposal is simply a shift in money. It takes money from people who have worked hard, and spreads it out to where? All over?

If the Federal Reserve Banking System is allowed to remain, the same thing will happen all over again.

Who makes the rich people rich. Invariably it is the poor people who buy their products and services. What will happen if the rich lose money to taxes? They will do the thing that they have been doing forever... pass their losses on to the poor in the form of price increases. This is not a tax on rich people. It is a hidden tax on poor people.

The only way to make money work for America is:
1. Shut down the Federal Reserve Bank.
2. Cancel all bank debt by law, because it is all fake debt anyway.
3. Get rid of the whole idea of a debt-money system, and place the nation on value money system.
4. Get rid of income taxes for the people, and let Fed Gov live off pure excise taxes on Federal Corporations, and the States... and,
5. Make the nation strong by letting Gov tax imports and exports. Since Gov would be getting only a fraction of its former money without the debt-money system, and without income taxes, its adjustment of import/export taxes, would return jobs to the States, and yet allow all kinds of foreign products in. America would become an export nation that would rule the world.

If Trump ever tried to shut down the FED, he would be assassinated.

This whole thing is a show to see how ignorant Americans are.

Face it; they´re too addicted to military spending and wars (to get rid of the product to be able to produce more) to cut that down meaningfully. Too big interests, armaments manufactures, employment, the Pentagon etc. It´s huge. So, they´ll have to tax the rich eventually. Many of them have become filthy rich through endless war scams anyway.

If it´s about keeping the country afloat well that´s even more reason to tax the rich. Someone worth $100 million isn´t exactly going destitute if it drops by a few million dollars.

anyone that would suffer from a US economic collapse, im not going to name what countries because i dont have to knowledge to claim which ones likely would, and i never said anything about them bailing out the country out of debt entirely, but i did say they would try and keep the country afloat, just enough to avoid a crisis.

You have full right to talk about it to your best ability. If they really tax the rich for trillions, then maybe consider your donation, not before.

Us, citizens, have no right to be talking about 5 Trillion. I can't comment. If donating $10K to the government will make America Great Again, I'll do it.

Which world powers would that be? We´re talking Gigantic amounts here. Frankly, I think you´d need to call E.T. to bail out Uncle Sam. 

maybe, but maybe not. the US's consumerism culture plays a pretty large role in the world's economy, and if theres any real threat to that economy completely collapsing, the world powers will (reluctantly) scramble to keep it afloat. eventually though, with the country constantly weakening as it is, that probably wont be the hypothetical case anymore, and there might be a repeat of greece. hopefully the debt problem gets fixed before then.

I think it´s inevitable sooner or later. Interest rates will only stay low for so long. If nothing is done they´ll eat up most of the federal receipts eventually. It´s nice if you can just add your interest expenses to the existing debt but it isn´t a perpetual machine.