alt Hacker NewsI know there is a crowd that talks about debt alot and these are all legitimate concerns
However they could also raise taxes on capital gains and top end income brackets - which are at ludicrously low levels for folks of significant wealth - which would go a very long way here. Some estimates suggest it could put the US back in a surplus quite quickly
edit: I'm saying there is an argument for raising taxes. I don't think its off the table like some people suggest. I know it may not be popular with some but we could discuss the merits.
Cutting fundamental government services feels wrong too
Replies
It's been argued a lot that such a move would cause a good portion of American billionaires to just pack up and move to another country. Rich people are mobile in a way that poor people are not.
The problem is that raising top end rates don't go far enough. It's a start, but we also need to raise the lower rates to solve the problem. That, or dramatically cut benefits.