True, this also show how much is being hoarded. 36 Trillion. The US only made in print $22 trillion in printed bills $14.5 billion in coins a -$179 Million lose just to make them 36T - ([22T+14.5B] - 179M) 79% is in US so $7T is active of the $22T. 21% is the government faults. $15T not moving. Why?
No, it's not about who is paying a fair share of taxes. National debt is a system invented to keep countries in check regardless of who is in office. There isn't a possibility of operating without this debt unless that system is rejected entirely.
Poorly educated Americans have been psychologically manipulated for years to believe bullshit.
America has so much debt because the rich & big business don’t pay their fair share taxes.
Do “We The People” need to mobilize and march in the DownTown Centre of each big city of a municipality, a State and in Wash DC with clear ads claiming the people power to make billionaires et millionaires pay their fair share of what they own the municipality, the state and the federal government?
It always seems so simple to me that deficit is spending vs revenue, and you can’t just blame one part of the equation (spending) while also having crippled the other part (tax revenue) back in 2017, and then want to cut it back even further.
And don’t forget corporate welfare which happens when corporations don’t pay their workers a living wage and then they need to go on public assistance. That’s a double whammy
They are calling Social Security "Entitlements" to make it sound like a handout. It is pension insurance. We paid for it. They are trying to turn the younger generations against the retirement age so they can eliminate Social Security with no sympathy. Vote them the hell out.
Wrong. SS is not an 'entitlement'. It is an earned retirement income. You work for a long time; you pay into it. It's yours! Pensions are different, but kinda the same. You get one from being a teacher or a State or Federal worker or Union. Mix and match.
Nope. It has to take an act of Congress to kill SS, Medicare programs or reduce the benefits. Not by a stroke of an EO. Yes, we need to live well informed.
Entitlement refers to the right or claim that someone has to receive something, often based on laws or agreements. It can include benefits from government programs such as Social Security and Medicare2.
A great distinction and one that we need to drive home. Though officially SSA says this "The Social Security benefit programs are “entitlement” programs.
This means that workers, employers and the self-employed pay for the benefits with their Social
Security taxes. " https://www.ssa.gov/sf/FactSheets/aianssavsssifinalrev.pdf
actually it’s because the federal government loves to give their buddies Lockheed Boeing and Raytheon trillions of dollars so they can go bomb the shit out of the Middle East!!
hope this helps 😊
False. One thing is the bonds have been paying interest and that interest has been used to pay benefits. The last few years the trust fund has been, as planned, cash flow negative. Bonds are being presented and redeemed and paid. Congress has no role in this it's the job of the treasury.
No our social security is in a category of it's own. They ASSUME THAT THEY CAN TOUCH IT BECAUSE THEY "BORROWED" FROM IT AND NEVER PAID IT BACK.Being the entitled thieves they are THIS IS WHY they want to get rid of it.
This was always the plan. “Borrow” and wait a few yrs til everyone forgets. Then pretend it’s not a self paying feature that can’t actually run dry bc you only get out what you put in and everyone puts in more than they get back, since most ppl die within 10yrs of retirement and many die before
I think they have been "borrowing" since Reagan allowed it that first time. It's outright THEFT and they WERE hoping that we would forget about it. It needs put out there exactly HOW MUCH THEY TOOK.
Trickle down economics. At its finest. Cut taxes for the rich, steal from the poorest, then yrs later say welp we don’t have anymore I guess you poor folks will just need to have less
Oh and let’s just change the retirement age bc ppl live longer, so why should they not work til they drop
these were not issues in the 1950's or the 1960's . . . even after WW2 because there might have been one maybe two billionaires but wages were good people had work and everyone paid their taxes 👍🏻👍🏻
This is an excellent argument to pick with MAGA and old school Republicans (if there are any left).
Ask, “who, exactly, should pay that debt?”
If the answer is anyone but the wealthy it’s attack mode.
Here's another secret. Not only can the US never default unless it chooses to because the debt is payable in US dollars which the US controls, but MMT says debt to invest in your economic future isn't a bad thing.
Debt because oligarchs are too greedy to pay their fair share? Very bad!
they want to take away social security to make those who rely on it poor, maybe even homeless. they want to take away medicare to make healthcare unavailable because it's harder to fight when you're sick. it's all part of the plan to destroy america.
And it's always a good day to note that social security has never contributed to the debt or deficit. It can never spend more money than it has or takes in.
The only President in recent times to put us in the position of being able to pay down our debt was the Democrat, Bill Clinton. He eliminated our deficit and gave us a surplus. The Republican, George W. Bush put us right back into deficit spending and he did so before 9-11.
And also because we believe our military needs $3 trillion EVERY YEAR. it also doesn’t help that the pentagon has failed an audit 7 years in a row. so no one even knows exactly how much they get or where that money goes to!!!!!!
Can’t agree more!
So sick and tired of those idiots using that against us.
There are ways to screw them quick, but you gotta
screw yourself. Take off work and shut it down. 43% of whites not blacks collect government asst.(maga too)
FAFO THW stock market⬇️
Wealthy😢🤯
It also has to do with stealing the actuarial surplus of the Social Security Trust Fund every year. Here’s the entry on the General Fund, credit reduce the deficit and create a non-negotiable debt that we’ll never repay.
Trust fund bonds are being presented to the treasury right now and being paid. There's nothing wrong with those bonds and they'll be redeemed, unless Congress Republicans are able to cut benefits. That's what they want
I hate the phrase "fair share" when it comes to millionaires and billionaires. Fuck fair share. Tax them progressively; higher and higher tax percentage brackets for earnings over 1 million, 500 million, 1 billion, etc. We need to return to the marginal tax rates from 1980 and back.
It is fundamentally unfair to tax someone who makes minimum wage the same rate as someone who has enough money to buy multiple mega yachts. The fair share being a flat rate is just propaganda from the rich.
And haven't paid their fair share since Raygun first slashed their taxes claiming the cuts would pay for themselves by increasing revenue. The old trickle down economics canard.
Yup. It's the reason for the wealth gap. Those cuts were enacted to push back against social programs for "welfare queens", code for POC. That's why no matter the issue, tax cuts are always Rs go to. We're trillions of dollars in debt. What problem are tax cuts solving? They add to the debt
I would also say, and also because MAGA lawmakers, use their staff to control the Internet all day long instead of spell, checking their posters and doing research on issues. Do not forget their staffs are 100% funded by the taxpayer their offices. Everything we pay for it all.
Beware! The cruel and corrupt Republicans in Congress are attempting to decimate and destroy Medicaid, the ACA, social programs and the economic safety net in order to give massive tax cuts to the selfish wealthy and greedy corporations. Shameful and vile!
They are only going after the poor first: Medicaid, SNAP and other social support programs. The ACA, SS, and Medicare are a 'third rail'. But I would not be surprised if the R Congress tries to cut or ending those programs - good luck with that!
I mean you're also wrong. It's because the US doesn't own it's own currency system. Our money is all printed and controlled by the Federal Reserve. The US government has to take financial loans from the federal reserve. We're owned by a bank.
The Trust fund has valid US Treasury bonds. They are safe as any other treasury owned by the public. And they're paying interest, and they're being redeemed to pay benefits.
And yes Republicans hate that and want to cut benefits so that the money never gets paid back. Not going to happen.
The biggest cause of it all was Reagan’s reduction in the top tax rate. From 58% to 33% we didn’t have a deficit before Reagan. Then everything just flew out of control.
Increase? I didn’t see any shopping carts before Reagan. And all of them. I mean all of them, wereVietnam veterans. He emptied out the mental facilities. And these guys talk about veterans all this fucking time.
He was also the one that smashed the trade unions. Though granted, a lot of them were held by the mafia. But his objective was always to destroy protections for little people. Always take a while. Guess if Republicans were the ones that created Medicaid. Or Social Security or Medicare
I hope in April when the mere mortals of America are expected to pay taxes,the people rise up and refuse. We all must be united in this movement. We don’t want to give our money to trump and his billionaires! FUCK THAT! Don’t pay any more taxes! Let the rich pay
The funds are not stolen. They are invested in the safest place around, US Treasury bonds. Paying market interest and being redeemed now to cover payments.
The scam is to cut benefits so that they never have to be redeemed leaving room for tax cuts for the rich.
China is bailing out the American debtor Budget. All that money for the stupid Pentagon is going to bankrupt us. China owns us. Watch 'Economic update' on Youtube with Dr. Richard Wolff.
Let me remind everyone: Social Security is NOT part of the national debt OR part of the national budget; it is a SEPARATE Fund paid into by your FICA contributions.
Comments
Weird.
America has so much debt because the rich & big business don’t pay their fair share taxes.
Not because of entitlements
Workers pay into those programs with every paycheck.
Couching those programs in propagandist and prejudicial words like "entitlements" is misleading at best and inflammatory at worst.
Knock it off.
8.2 trillion of that national debt is the orange dipshits..first raping of America.
Karma, I guess?
Plus that money being printed is monopoly money, fake money.
Every year 2 trillion is added and nothing out back.
But if you tweak your argument to value added per cost you still come out with the same point.
Is almost all just made up. Notice the debts never an issue when they want to do their stuff.
“We don’t fight fascists because we win; we fight fascists because they’re fascists.”
https://www.forbes.com/sites/ebauer/2018/11/05/yes-social-security-is-an-entitlement/
This means that workers, employers and the self-employed pay for the benefits with their Social
Security taxes. "
https://www.ssa.gov/sf/FactSheets/aianssavsssifinalrev.pdf
hope this helps 😊
Oh and let’s just change the retirement age bc ppl live longer, so why should they not work til they drop
Ask, “who, exactly, should pay that debt?”
If the answer is anyone but the wealthy it’s attack mode.
When they put it in our faces… believe it
Debt because oligarchs are too greedy to pay their fair share? Very bad!
get a free ride
THINK ABOUT IT
Why do you think they want to shit-can it? 🤔
So sick and tired of those idiots using that against us.
There are ways to screw them quick, but you gotta
screw yourself. Take off work and shut it down. 43% of whites not blacks collect government asst.(maga too)
FAFO THW stock market⬇️
Wealthy😢🤯
It's because of the size and scope of the federal government.
They have their fingers in every pie and it wasn't supposed to be this way.
The largest air force in the world is the USAF.
The 2nd largest is the US Navy.
It's ridiculous what we spend on our 'defense.'
Bingo
Bingo
And yes Republicans hate that and want to cut benefits so that the money never gets paid back. Not going to happen.
Please read this and the other links in the comments of stuff I have written.
We can fix this together if we really understand how.
https://bsky.app/profile/bumblingbard42.bsky.social/post/3lgno2qypbc24
It is correct to encourage them to pay more not demonize them.
(Look at the tax revenues, % of income earned and percent of taxes paid for each bracket, especially the upper 1%)
The scam is to cut benefits so that they never have to be redeemed leaving room for tax cuts for the rich.
Start saying: BRIBERY
There IS a reason BRIBERY is Constitutional grounds for impeachment.
documentary on the Panama papers and how tax law in the US promotes oligarchy and destroys democracy.
Meryl Streep, Gary Oldman, Antonio Banderas
Someone needs to figure out what our debt would be at this time without those tax cuts.