DEBT? What debt? How can the US ever theoretically have a debt problem?

[dumb_mother]

Quote from Jym:

Top Marginal Tax rate


70% to 90% taxes for the top tax bracket is what we saw the last time we let our debt to gdp ratio get around 100%

(hmm chart wouldnt post)

http://www.usgovernmentspending.com/federal_debt_chart.html

back then the top tax bracket was also 1 million+, which inflation adjusted is a shit-ton more than 200k. if we raise the top bracket to 10 mil then there wouldn't be as much complaining about it being raised i guarantee.

 

[zdreg]

Quote from dumb_mother:

back then the top tax bracket was also 1 million+, which inflation adjusted is a shit-ton more than 200k. if we raise the top bracket to 10 mil then there wouldn't be as much complaining about it being raised i guarantee.

raising it to 90% raises less money and makes an economy less efficient.

 

[dumb_mother]

Quote from zdreg:

raising it to 90% raises less money and makes an economy less efficient.

oh i agree don't mistake me for being pro-high taxes. i'm just pointing out the difference between a 90% tax rate 50 years ago when the top bracket was 1mil+ to current top tax bracket of 200k. people compare the % tax on the top bracket, but not where that line in the sand is, and in this example, 1 mil 50 years ago is so many multiples of 200k today that it is irresponsible for people to use them in a graph like that.

 

[MohdSalleh]

obviously these people are saving money to give money to the govt next year

 

[zdreg]

Quote from MathAndLogic:

First, there is an idea call trust, i.e., credit.

what happens when the trust disappears/dissipates ?