Utopia Talk / Politics / US national debt hits $39 trillion

Rugian rank	Tue May 26 13:26:17 I'm so glad that Republicans decided to give tax breaks to boomer retirees and are now considering Trump's proposed 44% increase to military spending. We're so fucked as a country.
Average Ameriacn rank	Tue May 26 15:32:05 The tariffs will solve all our financial problems. No more debt and no more taxes. Truts our President!
jergul rank	Tue May 26 18:31:18 I do not doubt, but that is either old news or preemptive news. The release dates are march and june for that kind of data.
Rugian rank	Tue May 26 22:01:00 Jergul You realize the debt balance is updated daily, right? It actually briefly hit $39 trillion right before Tax Day, at which point it dropped back below that number. It returned to $39 on May 18.
jergul rank	Wed May 27 12:17:14 My bad. I read national debt to mean public debt (excluding intragovernmental stuff of course). The fed publishes those figures quarterly. It includes local and state debt to give a number compatible with how public debt is calculated internationally.
murder rank	Wed May 27 15:30:51 Someone keeps a real time running estimate. https://www.usdebtclock.org/
Hrothgar rank	Thu May 28 05:31:47 A return to the tax rates of 2000 would do wonders, if only our leaders were in any way competent.
jergul rank	Thu May 28 09:36:47 At this point probably 1950s for wonders, but valid point.
murder rank	Thu May 28 21:19:09 We don't need to raise the tax rates. We need to eliminate deductions and loopholes. We could actually lower the rates and raise revenue if we quit letting people dodge paying taxes. -
Paramount rank	Thu May 28 22:00:56 You don’t to eliminate deductions and loopholes. Your country needs a hard reset.
jergul rank	Fri May 29 08:14:49 Murder Getting into complicated tax reform is running the errand of lobbyists. The only people that will make money off it. Besides, Hrothgar and I are just speaking in principle. Raise tax revenue to 2000 levels or 1950 levels, depending on who you were listening to.
murder rank	Fri May 29 15:01:58 Complicated? I want to simplify it. 25% flat rate for everyone. Only deductions allowed are the poverty rate for a household of your size and state and local taxes up to 20% of your tax after deducting the poverty rate. It doesn't get much simpler than that. -
Habebe rank	Fri May 29 19:50:58 You could probably find a way to tax cash loans against assets as well. Remove the SS tax cap.
jergul rank	Fri May 29 20:22:52 Just tax unrealized capital gains as income. Problem solved.
murder rank	Fri May 29 21:36:17 "You could probably find a way to tax cash loans against assets as well." Yes, loans secured with unrealized gains get taxed as income. -
Habebe rank	Sat May 30 19:59:47 Easier done for publicly traded stuff, harder for assets that would need appraisals, which plenty of ppl would shift to avoid taxes. The point at which you use an asset as collateral for a loan, your effectively realizing the gain. That does leave a huge amount of created wealth hoarded and untaxed though.
jergul rank	Sat May 30 21:01:36 So "just tax unrealized capital gains as [the] income" it is. Paper profits are real profits that can be realized at any time.
jergul rank	Sat May 30 21:03:39 Its like saying your direct deposit paychecks should not be taxed until you withdraw it.
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