Starbucks Think-tank

I happened to go into Starbucks the other day and noticed a group of college kids sitting around in the middle of the day which is normal because they’re studying of course.
They were talking about the budget deficit the United States operates with.
Some sources put it at 4.9T while others say it’s over 7T
CNN says it was $250T with Trump, but it’s balanced now, with Biden.
FOX says it’s $250T now, but was balanced with Trump.
I’m skeptical. But if we put it at 4.9 trillion, which is probably conservative, and with 88 million adult working tax payers between the age of 20 and 59, each person would have to pay in $60,000 to balance it.
If the top 10% of American earners pay 90% of the ticket, each and every individual would have to pay in $515M.
If the rest of the US kicked in on the remaining $490B, each working, American would end up paying $5500. Each.
If literally everyone paid taxes on their purchases (Flat tax, Fair Tax) it would be easier to balance the budget. Tuna or bread would also rise to $7-8 apiece. But buying a yacht versus bread would see rich people paying some tax.
But, if America’s biggest corporations even PAID any taxes, (many don’t) it would NOT materially help!
“At least 55 of the largest corporations in America paid no federal corporate income taxes in their most recent fiscal year despite enjoying substantial pretax profits in the United States.”
“The 55 corporations would have paid a collective total of $8.5 billion for the year had they paid that rate on their 2020 income. Instead, they received $3.5 billion in tax rebates.”
itep.org/55-profitable-corporations-zero-corporate-tax/
It would have covered 0.2% of the budget.
All the above is why “Who’s the President” has little to do with America’s financial woes: The system is broken on so many levels. It literally cannot intake more than it spends.
Americans just don’t have it.
If America entered the market with a Non-for-profit Health Insurance Company (Not a subsidized program buying health insurance from the private-sector) we’d do better for Americans and put a ‘gotta compete’ muzzle on private sector health insurers.
If America entered the market with a Non-for-profit Pharmaceutical Manufacturing Company (Not a program that only recognizes Brand drugs from certain entities in the private-sector) we’d do better for Americans and put a ‘gotta compete’ muzzle on private sector pharmaceutical companies.

Posted

in

by

Tags:

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *