BIG YES BOMB!!!!!

FootLongz · 2025-04-21T21:45:07+00:00

Simple, throw the existing tax codes away and Levy a universal tax code for everyone individuals companies and corporations. Then remove the cap on Social Security the more you make the more you pay plain and simple.

2025-04-21T22:08:24+00:00

The miracle would be people waking up tomorrow morning, looking into the nearest mirror at their fat, satiated, bored, hedonic life, buckling over, and vomiting out all their stupidity. Then they stumble onto their feet and into the bathroom, wash their face, brush their teeth, and look that asshole in the mirror right in the eyes and say "today is the day I stop tugging on the coat tails of the politicians, begging them to punish sinners and reward saints, begging them to take from one man and give to another, and begging them to save the world in my stead because I'm too stupid and lazy to do it. Today, I go out and do good works myself, pay it forward, suffer now for a future I know I may never see, but that the grandchildren of this generation will enjoy. I will work with my fellow man instead of against him, because when we work with love and not force, we can work together for those goals we must surely have in common."

Yep. That'd be a miracle.

Plane_Pop7983 · 2025-04-21T21:24:26+00:00

Eliminate income and property tax, then implement a national sales tax. Therefore everyone on from hookers to drug dealers to the kid buying gum will all contribute to the system.

HRDBMW · 2025-04-21T21:36:20+00:00

An amendment saying no one in congress can get reelected or paid unless the budget is balanced. Also, the amendment would require budget cuts to bring down spending to responsible levels. We pass a budget that is 15% over? Then ALL programs get cut 15%...

I would also change income tax laws to say that there is one exemption, possibly on the 1st $250K earned, and a flat rate above that. If you want to lower taxes, the exemption can be raised. This flat rate would apply to everyone and every corporation.

Jumpy-Program9957 · 2025-04-21T21:22:54+00:00

If you could wave a wand, And get all this negative poison out of people.

And have them start asking how they can make the world a better place instead of just typing the hate on here. I think that would be a great start

s4burf · 2025-04-21T21:34:35+00:00

El grande coronary

Kei_the_gamer · 2025-04-21T21:42:06+00:00

Someone in government having paid attention in economics and government?
Would be a hell of a start. Because right now, it feels like they either skipped those classes or just memorized buzzwords to pass the test. We’ve got politicians who treat the federal budget like a household checkbook when it suits them, and like Monopoly money when it doesn’t. They chant “cut spending” but won’t touch bloated defense contracts or corporate subsidies. They panic over deficits only when it’s tied to feeding people, educating kids, or fixing roads.

What we actually need is a government that understands how investment works. That you can spend strategically to grow the economy, raise revenue, and stabilize debt over time. That long-term planning beats short-term theatrics. That GDP matters more than headlines. You know, basic principles of governance and economics.

Instead, we get culture war soundbites and trillion-dollar tantrums. So yeah, a miracle. Or at least someone cracking open a textbook before they vote on another trillion-dollar package.

Uhhh_what555476384 · 2025-04-21T21:46:06+00:00

The US doesn't need a miracle, the US just needs to get back to planning out economic policy over 30-40-50 year time frames.

The problem is that when both parties became politically competitive in the 1990s each party abandoned fiscal responsibility.

tdcjunkmail · 2025-04-21T21:46:52+00:00

An amazing technology that greatly increases worker productivity, like AI or nearly free energy.

They can only tax, without destroying the tax base, what comes out of people’s productivity and trade. So a dramatic increase in productivity. One dwarfing the internal combustion engine or internet.

But that’s only if the political will is there to reverse the current deficit spending.

schnozzberryflop · 2025-04-21T21:50:13+00:00

The oligarchs could actually contribute for a change. Tax the ultra-rich and fix the deficit.

NoStandard7259 · 2025-04-21T21:58:02+00:00

Properly tax higher earners and businesses. Invest in the IRS and make the tax code easier to understand and close loopholes. Also do your best to project a strong economy stable economy so that we can get our treasury bill rates lower. Cut spending where it’s obviously being misused like in defense spending and investigate insurances overcharging medicare and Medicaid for prescriptions.

Laves_ · 2025-04-21T22:01:41+00:00

Clearing this whole administration, a special election and a clean slate. Nothing short of this.

BullPropaganda · 2025-04-21T22:11:53+00:00

Cut military spending by half. Tax the rich. Keep everything else

2025-04-21T22:13:58+00:00

Taxing the rich.

Good_Influence5198 · 2025-04-21T22:14:00+00:00

The only way the deficit can be addressed is by some combination of increasing revenue and cutting spending. The problem we face as a country is that those who control our spending don't care about increasing the deficit. They spend without regards for balancing the budget. If the country was a household, we would be bouncing checks left and right.

Nickel5 · 2025-04-21T22:25:57+00:00

The premise of this question has a baked-in assumption, and that's that a national deficit is bad. A national deficit can be good. The common analogy is people getting a mortgage or getting student loans, yes that's debt, but the benefits outweigh the liabilities. If you scale things up, large companies operate the same way, they will take on loans and be in debt, but it's worth it because they can grow faster than the interest payments.

For countries, having your national debt be less than your GDP is a level historically considered fine. This is based on countries being at or below this level being stable. Currently, the US is at 124%, so, to get back to a point where the debt is for sure stable the US doesn't need to come up with $36T, it needs to come up with $9T, a lot to be sure, but much less. The debt to GDP ratio reached its peak in 2021 with a value of 130.4%, so there has already been progress.

A national deficit is fine for the same reason a company perpetually being in debt is fine, that money can be used to invest in the nation. For example, the government spending on the interstate system has been over $600B in current USD since inception, but, it allows for the transportation of goods and people that results in more than $700B every single year.

As far as practical ways to come up with $9T, you have revenue generation and expenses. Revenue generation should be progressive, meaning higher net worth individuals pay a higher percentage of their overall worth in taxes. The reason for this isn't to dunk on the rich, it's because people in poverty don't contribute to the economy as much, so the less in taxes poor people pay the better it is for an economy. Forms of revenue generation such as a sales tax or tariffs are regressive, so these should be minimized. Corporate gains taxes are also good, not mainly for revenue generation, but because they convince companies to re-invest their gains so they can avoid losing the money to taxes.

Cutting expenses is much harder to do well, and there is not a one size fits all answer. If your main concern is economics, then the expenses should be looked at for how they benefit GDP versus what they cost. For instance, Medicaid keeps people alive who are sick but, if they get better can contribute to an economy, so even though Medicare costs a lot, it is economically beneficial. With education, it's a similar story, it is an investment to cause people to output higher economically down the line. Military spending can result in increased world stability which is incredibly economically advantageous. My point isn't that nothing can be cut, my point is that cutting programs has a lot of hidden costs that require thorough examination before the cut is made.

The point overall isn't to try to pull the US out of a deficit, it's to make sure that money spent will generate enough economic activity for the deficit to be worthwhile.

crazycatlady331 · 2025-04-22T01:09:49+00:00

This would not do it completely but could make a dent.

1) Excise tax on items that only the super wealthy buy. I'm talking yachts, private jets, etc. If you can afford a yacht, you can afford higher taxes.

2) Progressive excise tax on owners of multiple residential properties (this could help with the housing crisis too).

Big_Salt371 · 2025-04-22T02:02:36+00:00

Who says we need to pull out of it? Debt isn't automatically bad. We don't need to get out of debt. What we absolutely should be looking to do it reduce the deficit or eliminate it entirely.

However, even at the current rate of the deficit, there are good arguments to he made that it isn't a problem at all. Debt is only one side of the equation. What you get for that debt is the other. Don't believe the hype. Up to this point, America has done a pretty good job of managing its debt.

External_Produce7781 · 2025-04-22T18:13:12+00:00

Nothing. Thats not how any of htis works.

Best we can do is slowly but surely chip away at it and raise revenues.

No_Roof_1910 · 2025-04-25T01:13:17+00:00

What financial miracle would pull the US out of its national deficit,

Not sure.

I mean, even if we balanced the budget this year, next year, our national debt would still go up.

right now we pay $800 BILLION in just interest on our national debt each year.

So, balancing the budget isn't enough. Right now we'd have to be $800 billion under budget so we could take that $800 billion and simply pay the interest on the national debt and we still wouldn't be paying the debt itself down.

We need huge budget surpluses just to pay the interest on the national debt. Our budget surpluses need to be really huge to then pay more than just the interest so we could actually pay down our national debt.

And with it being trillions and trillions and trillions of dollars we are taking about doing this year after year after year for decades after decades after decades.

Both parties, for decades and decades and then many more decades would have to work together to ensure this happens.

Hell will freeze over before we pay our national debt off.

People talk about having a balanced budget.

That will not do shit to pay down our debt. If every budget was balanced now going forward, our debt would still increase each year due to the interest alone, which is $800 billion a year at this point and it won't be long until just the interest alone is $1 trillion a year and right now our budget is is $6.8 trillion.

How long until just the interest on our debt exceeds our annual budget?

BIG YES BOMB!!!!!

Monday, April 21, 2025

What financial miracle would pull the US out of its national deficit, like how the 1950 Cinderella movie pulled Disney out of massive debt?

What financial miracle would pull the US out of its national deficit, like how the 1950 Cinderella movie pulled Disney out of massive debt?

What financial miracle would pull the US out of its national deficit,

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