You need something to compare to instead of just complaining taxes are high for the rich already. Historically taxes were higher in the usa for the wealthy. If it was good enough to get our country to where we are its good enough now right? Your generation raised taxes on the middle class while lowering them for the upper class. How is that fair? If you want a mega military and mega healthcare instead of national health care that costs half as much like the rest of the world you have to fund it. Our welfare spending is well below the rest of the developed world while we have similar tax and expense situation so you cant really blame welfare. Completely immoral and idiotic to borrow money from future generations and run up debt to give mega tax cuts to the rich. If it wasnt for reagan bush and trumps tax cuts our debt would be half of what it is and manageable. Completely immoral to say, I got mine, while borrowing to fund your lifestyle while fucking up the budget then making future generations deal with it.
USA currently has one of, if not the most progressive tax scale in the civilized world.
Let's see what AI thinks:
Yep. Let's fully grant his fantasy and put it next to the actual debt numbers.
In 2023, the top 1% reported about $3.135 trillion of AGI and already paid about $823 billion in federal individual income taxes.
So imagine:
The government does something vastly more extreme than “tax the rich more”:
It takes 100% of every dollar of the top 1%'s income after their existing federal income tax.
That gives approximately:
$ 3.135 T- $ 0.823 T = $ 2.31 trillion.
Now compare that with today's fiscal situation:
DollarsFantasy confiscation from top 1%
$2.31T
2026 annual federal deficit
$1.9T
Debt held by public
~$32T
Current gross national debt
~$40T
CBO puts the 2026 deficit at $1.9 trillion and debt held by the public at about $32.1 trillion. Gross national debt just crossed $40 trillion this month.
So under the completely impossible fantasy:
Confiscating essentially the entire annual income of the richest 1% would raise about $2.3 trillion.
That would cover roughly one year's current deficit plus ~$400 billion.
If instead you devoted every penny to the existing $40 trillion gross debt, you'd eliminate only about:
402.31≈5.8%You'd still owe roughly:
$37.7 trillion. And then comes the killer: you can't do it again next year, because nobody is going to earn millions of dollars of taxable income when the government takes 100% of it. 😂
So even after granting the most ridiculous possible version of “tax the rich”, we've demonstrated something useful: there's enough money there to make a major dent in a SINGLE annual deficit, but nowhere remotely close to enough to pay off the accumulated national debt. And the structural deficit still has to be solved year after year.