A possible solution to the US debt crisis

Rep. Tom Reed (R-N.Y.) discusses his solution to the debt crisis and why Washington needs to improve individual tax cuts.

[zuggetharderbb]

Here's an idea stop giving 7 year tax breaks to all legal immigrants as illegall don't pay property or income tax

[EvilLordBane]

This Rep talks a good game, but with wasteful spending like in the Omnibus Spending Bill that just passed, it looks like congress is up to it's old, finically irresponsible ways.

[Nothing-is-real-jm]

Get us off the Fiat dollar and get us back on the gold standard would be nice.

[pedrozaragoza]

Mr. Trump is now responsible for record deficits. Remember when republicans used to be about reducing the size of government? I wish we would go back to values, balanced budgets and a small government.

[ollykcsisko]

DEBIT: SELL DEMOCRATS. Hope we get more than One Penny.

[TheDaexiled]

Solution, raise taxes on the upper class and business on up (Those making $200k+ a year) allowing for more revenue, close the loopholes the top 5% that use them, hence sending their finances overseas, bring back the financial programs for the middle class on down to help them with outrageous rates, and finally INCREASE THE MINIMUM WAGE TO $16 HR.
Edit: STOP SPENDING 500+ BILLION A YEAR ON DEFENSE, ITS OUTRAGEOUS!

[KurtGodel]

How about taxing our corporate overlords a bit more?

[fooksengloke]

US’s debt problem is a self inflicted problem. There is only one solution: cut down on defense spending.

[lylecosmopolite]

All sorts of solutions are "possible". The only solution I see as realistic is raising taxes. The USA is tied with Ireland for the lowest value of Taxes/GDP in the first world. The tax data used to compute this ratio includes all state & local taxes.
Given how well the US economy is doing at present, the Federal budget should be balanced.
I propose to do this via a 33.33% flat tax on all income, combined with a payment of $525/month to every legal resident of the USA. Payroll taxes would be credited in full against flat tax liabilities.
Social Security is marching to insolvency, so that more payroll taxes should be collected:
* raise the ceiling on annual wages subject to FICA from 130K to 200K;
* raise the Medicare tax rate from 2.9% to 4%;
* have the investment income of those who are 65+ pay the Medicare tax;
* make SS benefits fully taxable.

[Baka_Oppai]

Cut taxes for the wealthiest people then complain you have no money for the debt. Republican logic.

[winnie]

Grow Hemp,   we'd be out of debt in months. Then you can also pay back Social Security all that was borrowed from it taxes.

[jram]

The federal reserve owners need to govto jail and they need to stop the illegal income tax is unconstitutional

[paulstuartwilson]

1) Line Item Veto for POTUS 2)Term Limits for ALL Congressmen/Senators
3) Balanced Budget Amendment
Solution found, now get to fucking work!!!!

[joshuamitchell]

If Congress would cut the crap spending that would help--SEE THE SENATOR FROM OKLAHOMA WHO PRODUCES A LIST OF WASTE SPENDING EVERY
Stop letting the other nations from raping us

[realamerican]

With all that deficit, and the Chinese got to learn our technology and thrive...there should be a some discount.

[chrisolive]

Increase taxes on foreign companies by 75%, American companies taxes are lowered by 40% having them pay only 5% of taxes. Devalue our currency below China's, sell at the most cheapest price till all other competitors are wiped out of China, create a monopoly and charge a higher price to match the debt. Make sure the Monopoly is a major asset to Economy, government and public policy of such targeted nation, crush all threats, if you want to simply get rid of the debt.

[muimasmacho]

Job creation is the best bet for our nation at this point.
Everyone says lower taxes, cut spending, etc...
But jobs convert non-taxpayers into taxpayers. Instead of collecting benefits, they end up contributing to it. Pay it forward. I don't understand why these lawmakers are keeping this a secret. It should be shouted from the rooftops!!!
As for cutting spending, it's alot easier to earn your way up the ladder than it is to $ave your way up it with money you don't make.
Cutting taxes works very well towards building those jobs, all across the spectrum. People with more money in their pockets buy pizza, and movie tickets, and bowling balls. A.k.a. Trickle down economy.
Put all this together and you can't lose.
Once we're on our feet, then we slash the hell out of omnibus. Until then, we need the omnibus cash to to tide us over and stimulate the growth. It's a temporary necessity.
Also... it's not so much if you spend it locally. Like NASA, not one dime was spent on the moon. It was all spent right here in Murica!
OOOORAH.
#MAGA

[henryl]

Don’t be mean. Why blames China? Chinese are capable of developing its science and technology.

[jimmykey]

Thes will decrease our national debt.more money for Americans.

[huntervolcan]

It is mathematically impossible to pay off the debt. There is debt owed on every dollar in existence. All we can do is take out more loans to pay off the debt, which will drive us into more debt. It's sad that our leaders think they can pay it off.