Should this information upset you? If so, what would be the wisest way to redistribute wealth, pay off the National Debt without one complaint from anyone when they redistribute their wealth?
I read a post titled, The richest 10% of households now represent 70% of all U.S. wealth
This is probably the 100th time I read this same information over the past five years blogging.
I also read and listen to the newscast every day about politicians complaining and now proposing Socialism, more benefit programs, and income tax proposals to tax income of the 10 percenters up to 90 percent’s.
We also know from history what happens when wealthy people are taxed. They either figure out ways to avoid paying the taxes, or leave the country.
And even if they pay 90 percent taxes, it will never be sufficient to pay down the National Debt or persuade Politicians to approve increasing the National Debt because politicians know the consequences of not paying the interest on the debt, or ending Social Security, Medicare, Medicate, Food Stamps, Rent Subsidies, etc. etc. It would be disastrous to their political careers, the economy, and the welfare of a lot of people not only in the USA, but the World.
So, what to do?
In a previous post, I explained why an ancient wisdom proverb of King Solomon would be the wisest solution. Another blogger explained how my suggestion could work to resolve the National Debt and along with his suggestions.
The suggestion might also create the biggest boost in the USA economy for a long time period than any previous economic period recorded in history.
Obviously, politicians are not interested for some reason.
Read the Source Links below
How many more times will we read the same, ho hum, or, heading?
Will Americans embrace Socialism, and if so, should they consider, if it did not work before, why will it work now?
Regards and good will blogging.
National Debt Ticking Time Bomb
AOC Tax Idea or Mine?