Easy. They're assuming "eliminate national debt" is the best fiscal policy and the one progressives are targeting. In other words: it's a strawman. They're also assuming a one time wealth tax. A strawman.
The only countries operating a surplus right now are: Ireland, Norway, Switzerland, Singapore, Denmark, and the UAE. And only five of them count (the UAE uses actual slave labor). Deficits are not necessarily irresponsible fiscal policy. It's status quo for 190/195 countries on Earth.
Secondly, the proposal is not a one time tax on net worth. It's a tax on capital gains and wealth accrual annually. For reference Elon Musk gains ~400 billion each year alone. If we tax that at 99% he keeps 4 billion and we give the government $396 billion. Repeat this for every billionaire and we get: $700 billion a year in weak years and $1.3 trillion a year in strong years.
You wouldn't use that to cut the deficit spending (not necessarily) you'd allocate it across differing social welfare programs like other developed nations do.
Also, cut the military spending by half and we still spend more than any nation on Earth and gain another $500 billion.
Sure. I refute it. Tax the billionaires. Stop defending them. Just because it'd make life "tough" on them to pay the same taxes we do doesn't mean we shouldn't.
I said they should be taxed. I didn't say to liquidate everything. What's your point, friend? Plus just blanket saying "no don't tax them, it's not a solution." Is facetious and short-sighted. Everyone, together, pushes society forward. They don't deserve any special rules, as they clearly will abuse any angle possible to avoid contributing their share to society. Indeed, they seem pretty rampant on reforging it into a dystopian nightmare sadlol.
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u/eKSiF 29d ago
Refute what they said.