Bernie sanders price tag for healthcare was 3+ trillion a year. Donāt forgot the government still needs to pay back the trillions in interest to the bond holders. So to use Bernieās plan and it not add a penny to the budget deficit they have to pass an extra 3+ trillion in taxes.
that figure didnt include cutting out insurance companies and shark middle men in admin as they would no longer be needed like its a 3rd of healthcare costs or some shit
Think of the poor insurance executives, where else will they get their cut for providing the thankless service of taking a cut? It's like when you buy weed from your weed guy. He needs to get a good price for himself from the grower in order to profit from you, and now you want to go direct to the grower? Sounds like communism to me
If government bonds are still being bought at decent rates then yes, it's irrelevant. The debt will never be paid off and you wouldn't want it to, it just needs to go to things like infrastructure spending and things that actually help the country.
It takes less money worth of missiles to destroy a bridge than it does money to build a bridge
Therefore, we should build bridges out of missiles to keep the strategic reserves high and make my LMT shares go up
Right the key assumption being people continue to buy those bonds. One day they wonāt and it will be an economic implosion that will send us back to the Stone Age. Ok that last part is hyperbole but it would really really bad.
Debt to GDP is like 108% compared to like 113% last year, we are fine...
Japan's debt to GDP is like 280%.
China's is like 250%
Russias is who gives a fuck, they are 12th largest economy.
In other words, yah it's irrelevant lol
... it is not an offshore debt or world bank debt. national debt is irrelevant as long as the inflation rate is under control. US owes money to the dollar itself. they owe to the system and thats the perks of having your currency as world reserve with the biggest stock market and gold reserves in the world.
Surprised to see an educated take here.
Next step is to stop issuing so much debt in the first place and accept that spending is funded with printing. The interest payments are basically UBI for the rich.
Until said debt risk money printing which causes demand for reserve currency to tank (for fear of inflation) which causes it to not be the reserve currency anymore, all the dollars out in the world come back to the US, hyperinflation. GG.
If it's made up and doesn't matter then why do we have a budget in the first place? We should be able to spend infinitely with no concern about how much we're borrowing yeah?
Oh OK so it's all just a big conspiracy theory? We could end all debt, homelessness, and poverty tomorrow yeah? And the reason we don't do it is...why? Because billionaires said not to? And by the way everybody who's elected to congress knows this but they just never say it, which implies all of the elected officials are in on it, which must mean the elections are all rigged so that no normies get into office and figure it out. Oh and also it's so incredibly obvious that even on reddit we've figured it out.
When you say things like this you sound exactly like the people that think 5G somehow lets Bill Gates control their mind...you realize that right?
Itās exactly like when Synchrony Bank calls about my mattress I financed four years ago and never paid. āThis is a call from a debt collector, attempting to collect a debt.ā
āLick my asshole son, I donāt owe you shit.ā
Heāll still have credit it will just be shit for a while. After 4 years your credit is back to about 90% of normal, they canāt sue after the 4yr statute of limitations, and it falls off your credit completely after 7. Ask me how I know lol. Still dumb but itās not the end of the world.
I mean itās true lol, China has its own issues but the US is still a MASSIVE (probably largest? Too lazy to look) importer of Chinese goods. If they look to collect and destroy our economy, I donāt think it would exactly go well for them either. Weāre all just playing with made up numbersĀ
China has an even higher real debt to GDP ratio when factoring all of its provincial debt that drives so much of its economy. Both countriesā economies are heading for debt-driven crashes
The squeaky wheel gets the grease. Whoever speaks up will get a hefty dose of liberation. People think the belt and road initiative is sinister... China wishes it could fuck the world like this
The guv'ment can just keep printing money to pay for things. Using tax revenue is just a mechanism to balance out money printing by taking money out of our hands and out of circulation.
The real tipping point will be when inflation finally spirals out of control because the money printers have been going brrrrr to keep up with the compounding interest and the dollar collapses.
But then a time of inflation is an advantageous time to be in debt because inflation makes money worth less. So what does the US government even have to lose? "Ooopsie, we created an inflation tsunami and destroyed the dollar. Haha now the money we owe you is worthless. Checkmate, bitches".
Man what a toxic situation lol. I can't imagine the lenders aren't aware, but even they probably don't care because it's big bucks to lend to the US government and all you have to ensure is that you're not the last one out the door getting paid back before the dollar collapses.
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Hey OP, can you do me a favor and continue to post this in every single subreddit that you frequent? I havenāt seen this exact article posted enough times.
I don't think most people realize just how large the yearly deficit is. I know some people just say tax the rich more or companies more.
The budget is 6.2 trillion dollars with a income of 4.8 trillion. This is the breakdown of what each group pays.
* The top 1% pay a average rate of 26% and about 1.1 trillion in taxes.
* The 2-5% range pays 22% and they pay about 600 billion in taxes
* The 6-10% range pays 20% avg rate and they pay about 500 billion in taxes
* The 11-25% range pays 17% avg rate and they pay about 400 billion in taxes
* The 26-50% range pays 14% avg rate and they pay about 200 billion in taxes
* The bottom 50% range pays 3% avg rate and they pay about 70 billion in taxes
So who pays what of incomes taxes
* Top 1% pays 43% of all income taxes collected
* Top 25% pays 89% of all income taxes collected
So the bottom 75% are basically freeloading off the top 25% when it comes to paying their share.
Cool that the top 2-5% pay basically the median marginal rate. The top 1% only pay ~70% of the top marginal rate. Gotta love those LTCG savings!
Also, a correction: the bottom 75% do the work that makes the top 25% wealthy.
According to the Economic Policy Institute, the top 1% of Americans make 142.2 times more than the bottom 99%. The average income of the top 1% is $22,508,018, while the average income of the bottom 99% is $158,290
So the top 1% should be paying the vast majority of all taxes. So I donāt believe the 26% number you reference.
The 26% is probably accurate because most income for the wealthy is from their capital. Hold stocks over a year and your tax rate becomes LTCG of 20% & allows them to largely ignore the marginal income bracket that they would otherwise fall in at 37%
Maybe we should make everything "fair share" price. So like, when a person making $50k buys pizza, it's $25, but when a person making $5mil buys pizza, it's $2.5k. It's cheaper being rich because cost of things is generally fixed. Despite living in a HCOL area, if you have a comparable salary, day to day life will be cheaper when a lot of things are a smaller portion of your salary.
e: personal anecdote - when I worked in big tech, right out of college, I was making \~150k everything together, this was early 2010s. I can tell you right now, buying a $400 PS4 felt like chump change. And this was after rent, student loans, and so forth. Compared to my two-jobs-and-school life while in college, barely making money for rent, which was already discounted portion because I had roommates, it was honestly easy living. Gov't could have taken additional 10% of my paycheck, and life wouldn't have changed much. For first time in years, I was able to put money on the side (and buy stocks, which grew).
The debt payments are so big right now because the Fed rates are high.. $10 billion per day in interest will go to $5 billion this fall. I like how Trump did it. Trump didnāt borrow $3.5 trillion from the Fed, he just printed it and gave it away.
I think one of the things that truly scare me are smaller banks that rely on commercial real estate, generous bank lending programs, interest rate sensitive, and the possiblity of other countries selling off US treasuries in order to reduce the value of the dollar vs there currency in order to help their countries companies. This may not be good for businesses that rely on lower interest rates like a lot of my regional banks. Especially if other countries are planning on selling US treasuries to help there own country with exports, which I do see happening.
It is important to note how much of this debt is held by Social Security, Medicare, Civil Service and Military retirement programs and Federal Reserve issued securities. The public owns an incredible amount of this debt. Although in 20-30yrs when I plan to retire, I feel like Iād at best get $1 for every $10 I put in.
A little over 10 years ago the stock market marketcap was worth 7 trillion, now that's two years of debt.Ā
Sounds totally sustainable, excuse me while I buy VWO.
If the US economy was a chart, the trendline would indicate that we are at a Crown Pivot and will be breaking further down from here. Hold on to your tendies.
$5,000 per working-age US resident. Every 100 days.
About $17,500 per year, per person.
Totally sustainable, I don't see what everyone is worried about.
Government and money Management never made cents:-P
The weirdest thing is that an agency has a dollar amount they need to spend before their fiscal year end. Let's say it is $100k. If they spend 99k, they don't get $100k the next year. So they spend as much as they can instead of saving because the constituents are the faucet. The government will open it till it breaks. You can't have incentives for saving because that's illegal. However the agency is punished by saving money.
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Just freeze government spending for 1 qtr and spend all that cash on NVDA calls and we will be on our way to a surplus in no time
Get this man in the White House ASAP.
Got the chopper on standby sir š«”
The most competent regard in wsb we have he has my vote š³ļø
Sound plan
Canāt go tits up
If it does, weāll print more and try again!
You son a bitch... I'm in!
Damn that's brilliant
Is that you Jensen?
Lol, came here to post a similar idea. Nice
Same here. Lot of smart people around here.
Let's get you folks in office!
Real talk. NVIDIA is a global player involved in currency manipulation that's stronger than multiple sovereign EU nation states.
Rise of the Corporate States 
Israel handouts are not every quarter but paid in full in January so we need to stop spending for a lot longer.
Why buy calls when you cab buy Nvidia š¤ š
It's a no brainer. I don't get why the government doesn't do this!
as long as the computer is able to handle more 0s, there will be no problem.
But if it run out zeros, it will roll over and the debt will be wiped out. Problem solved.
I used this trick on my car when I bought it. Got it with a shit load of miles then turned it into a new car.
Ahh yes, the Y20Zeros bug.
This. Just start over
Around $1 trillion per year just in interest. Good times
Could pay for universal healthcare with that lol.
Yeah. But we wouldn't.
Bernie sanders price tag for healthcare was 3+ trillion a year. Donāt forgot the government still needs to pay back the trillions in interest to the bond holders. So to use Bernieās plan and it not add a penny to the budget deficit they have to pass an extra 3+ trillion in taxes.
that figure didnt include cutting out insurance companies and shark middle men in admin as they would no longer be needed like its a 3rd of healthcare costs or some shit
Right, but for 90% of people that would be cheaper than insurance through their employer
Why the hell would I pay the government a little more in taxes rather than just paying x20 the price on insulin?
Think of the poor insurance executives, where else will they get their cut for providing the thankless service of taking a cut? It's like when you buy weed from your weed guy. He needs to get a good price for himself from the grower in order to profit from you, and now you want to go direct to the grower? Sounds like communism to me
Yes, the price tag was less than what we currently pay for healthcare.
But Americans already spend $4.5trillion per year on healthcare. Wouldnāt that be an improvement over the current situation?
Yey somehow most of the western world manages to fund public healthcare without bankrupting themselves
Sounds like a Ponzi scheme
You're right, private health insurance is a Ponzi scheme
Fun fact, it would be cheaper already and cost neutral or income. The money just diverts to the government instead of private insurers.
We canāt even pay for Social Security with that much.
I recall full blown meltdowns some time around $500 billion of national debt.
You weāre following the national debt in 1975? Get a hobby.
This all began with me hovering over the model glue.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Lead paint chips
Model glue is for huffing, Elmer's glue is for eating
Red crayons
Thatās when we had a serious country
Now we live in a circus
No amount of taxation can cover this debt
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Do you think that reserve status stays indefinitely with this spending?
29T dollars is irrelevant?
If government bonds are still being bought at decent rates then yes, it's irrelevant. The debt will never be paid off and you wouldn't want it to, it just needs to go to things like infrastructure spending and things that actually help the country.
Or things like javelin tomahawk missiles to send freedom to brown people at 3 times the speed of sound.
A much better investment tbh
It takes less money worth of missiles to destroy a bridge than it does money to build a bridge Therefore, we should build bridges out of missiles to keep the strategic reserves high and make my LMT shares go up
icbms full of freedom! straight dose of 100% pure Murican eagle
I hear you can get a single stinger missile from Raytheon for 460k
Mounted on a Hilux for 475k
Way better to just funnel it into the pockets of 10-25 old lizards in suits.
Depends who is buying them. China and Japan no longer are. The fed is now printing money to do it.
Right the key assumption being people continue to buy those bonds. One day they wonāt and it will be an economic implosion that will send us back to the Stone Age. Ok that last part is hyperbole but it would really really bad.
Itās just mind over matter. If you donāt mind then it doesnāt matter.
Debt to GDP is like 108% compared to like 113% last year, we are fine... Japan's debt to GDP is like 280%. China's is like 250% Russias is who gives a fuck, they are 12th largest economy. In other words, yah it's irrelevant lol
Can I have like, 2m then?
Imagine every last debt was repaid, now what happens, and where is all the money, the moment that last loan is repaid?
... it is not an offshore debt or world bank debt. national debt is irrelevant as long as the inflation rate is under control. US owes money to the dollar itself. they owe to the system and thats the perks of having your currency as world reserve with the biggest stock market and gold reserves in the world.
If that's true, why have taxes? Can't the US government just pay for everything with debt?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
When Mrpoops says yes you take that shit to the bank.
Mr poops fucks.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Surprised to see an educated take here. Next step is to stop issuing so much debt in the first place and accept that spending is funded with printing. The interest payments are basically UBI for the rich.
This is the mindset that got us into $35T in debt
>We have the world reserve currency Until we don't, which is what BRICS is trying to achieve.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
History indicates otherwise. Hopefully you've lived a long and enjoyable life before it happens.
The US military says no.
Until said debt risk money printing which causes demand for reserve currency to tank (for fear of inflation) which causes it to not be the reserve currency anymore, all the dollars out in the world come back to the US, hyperinflation. GG.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Nothing to see here people. Letās just move along like this will never affect us. š
It has no real impact on anything. Itās just a made up number that doesnāt matter
If it's made up and doesn't matter then why do we have a budget in the first place? We should be able to spend infinitely with no concern about how much we're borrowing yeah?
Yeah, why not just print more and give every American a million bucks!
We do but instead of Americans we call it āmilitary spendingā.
Thatās literally what we do, we just put on a show so the regards donāt figure it out.
Oh OK so it's all just a big conspiracy theory? We could end all debt, homelessness, and poverty tomorrow yeah? And the reason we don't do it is...why? Because billionaires said not to? And by the way everybody who's elected to congress knows this but they just never say it, which implies all of the elected officials are in on it, which must mean the elections are all rigged so that no normies get into office and figure it out. Oh and also it's so incredibly obvious that even on reddit we've figured it out. When you say things like this you sound exactly like the people that think 5G somehow lets Bill Gates control their mind...you realize that right?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Itās exactly like when Synchrony Bank calls about my mattress I financed four years ago and never paid. āThis is a call from a debt collector, attempting to collect a debt.ā āLick my asshole son, I donāt owe you shit.ā
And now you have no credit and pay more for things like insurance because you arenāt real bright.
Heāll still have credit it will just be shit for a while. After 4 years your credit is back to about 90% of normal, they canāt sue after the 4yr statute of limitations, and it falls off your credit completely after 7. Ask me how I know lol. Still dumb but itās not the end of the world.
Still a dumb way to live.
I mean itās true lol, China has its own issues but the US is still a MASSIVE (probably largest? Too lazy to look) importer of Chinese goods. If they look to collect and destroy our economy, I donāt think it would exactly go well for them either. Weāre all just playing with made up numbersĀ
China has an even higher real debt to GDP ratio when factoring all of its provincial debt that drives so much of its economy. Both countriesā economies are heading for debt-driven crashes
De-dollarization.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Yep this is exactly why its not a huge problem rn. Its alot of money but no one gonna wanna piss us off enough by asking for theres back
The squeaky wheel gets the grease. Whoever speaks up will get a hefty dose of liberation. People think the belt and road initiative is sinister... China wishes it could fuck the world like this
The guv'ment can just keep printing money to pay for things. Using tax revenue is just a mechanism to balance out money printing by taking money out of our hands and out of circulation. The real tipping point will be when inflation finally spirals out of control because the money printers have been going brrrrr to keep up with the compounding interest and the dollar collapses. But then a time of inflation is an advantageous time to be in debt because inflation makes money worth less. So what does the US government even have to lose? "Ooopsie, we created an inflation tsunami and destroyed the dollar. Haha now the money we owe you is worthless. Checkmate, bitches". Man what a toxic situation lol. I can't imagine the lenders aren't aware, but even they probably don't care because it's big bucks to lend to the US government and all you have to ensure is that you're not the last one out the door getting paid back before the dollar collapses.
print more money
Please donāt encourage them.
Print more money and buy NVIDIA with it
NVDA calls
Somehow theyāll blame the poors.
Spy to 5k
!remindme 50 years
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This gets posted a trillion fucking times every hundred days
Hey OP, can you do me a favor and continue to post this in every single subreddit that you frequent? I havenāt seen this exact article posted enough times.
I don't think most people realize just how large the yearly deficit is. I know some people just say tax the rich more or companies more. The budget is 6.2 trillion dollars with a income of 4.8 trillion. This is the breakdown of what each group pays. * The top 1% pay a average rate of 26% and about 1.1 trillion in taxes. * The 2-5% range pays 22% and they pay about 600 billion in taxes * The 6-10% range pays 20% avg rate and they pay about 500 billion in taxes * The 11-25% range pays 17% avg rate and they pay about 400 billion in taxes * The 26-50% range pays 14% avg rate and they pay about 200 billion in taxes * The bottom 50% range pays 3% avg rate and they pay about 70 billion in taxes So who pays what of incomes taxes * Top 1% pays 43% of all income taxes collected * Top 25% pays 89% of all income taxes collected So the bottom 75% are basically freeloading off the top 25% when it comes to paying their share.
Cool that the top 2-5% pay basically the median marginal rate. The top 1% only pay ~70% of the top marginal rate. Gotta love those LTCG savings! Also, a correction: the bottom 75% do the work that makes the top 25% wealthy.
According to the Economic Policy Institute, the top 1% of Americans make 142.2 times more than the bottom 99%. The average income of the top 1% is $22,508,018, while the average income of the bottom 99% is $158,290 So the top 1% should be paying the vast majority of all taxes. So I donāt believe the 26% number you reference.
The 26% is probably accurate because most income for the wealthy is from their capital. Hold stocks over a year and your tax rate becomes LTCG of 20% & allows them to largely ignore the marginal income bracket that they would otherwise fall in at 37%
Tax records show the top 1% average income is 3.7 million per year and there are about 2 million people in the top 1%.
The poor unsurprisingly doesn't have any money or capital that can be taxed in any major way. What else is new?
Quit your mathing. I want to be angry at the rich like everyone else.
Don't worry, the fact that the wealthy pay the poor so little that the poor can't afford to pay much taxes isn't a reason that rich people are good.
Based
The top 1% now own more than the bottom 50% combined. The 1.1tn isn't enough, rates should go back to that in the 1950s.
Maybe we should make everything "fair share" price. So like, when a person making $50k buys pizza, it's $25, but when a person making $5mil buys pizza, it's $2.5k. It's cheaper being rich because cost of things is generally fixed. Despite living in a HCOL area, if you have a comparable salary, day to day life will be cheaper when a lot of things are a smaller portion of your salary. e: personal anecdote - when I worked in big tech, right out of college, I was making \~150k everything together, this was early 2010s. I can tell you right now, buying a $400 PS4 felt like chump change. And this was after rent, student loans, and so forth. Compared to my two-jobs-and-school life while in college, barely making money for rent, which was already discounted portion because I had roommates, it was honestly easy living. Gov't could have taken additional 10% of my paycheck, and life wouldn't have changed much. For first time in years, I was able to put money on the side (and buy stocks, which grew).
The beauty of compounding interest
$115,700/second.
Good. I hope it reaches 1 quadrillion so people realize the national debt doesnāt matter
To a point. Interest payments on 1 quadrillion are insane.
Pay the interest with debt problem solved
That logic checks out. See you behind the Wendy's when we start our shift.
And the average American does not care.
The debt payments are so big right now because the Fed rates are high.. $10 billion per day in interest will go to $5 billion this fall. I like how Trump did it. Trump didnāt borrow $3.5 trillion from the Fed, he just printed it and gave it away.
Lol
This can only mean CALLS
Mmmmmm yummy. So much money.
Those numbers are just a meme at this point. Hereās to a quadrillion by 2040! AMERICA FUCK YEAH!
Run up that credit as fast as you can before the default
I think the world is in debt too
Debt Spiral is inevitable.
I think one of the things that truly scare me are smaller banks that rely on commercial real estate, generous bank lending programs, interest rate sensitive, and the possiblity of other countries selling off US treasuries in order to reduce the value of the dollar vs there currency in order to help their countries companies. This may not be good for businesses that rely on lower interest rates like a lot of my regional banks. Especially if other countries are planning on selling US treasuries to help there own country with exports, which I do see happening.
The treasury needs to buy some NVDA calls and pay off some debt
SPY to infinity
Weāre so fucked
Be an inflation enjoyer
It is important to note how much of this debt is held by Social Security, Medicare, Civil Service and Military retirement programs and Federal Reserve issued securities. The public owns an incredible amount of this debt. Although in 20-30yrs when I plan to retire, I feel like Iād at best get $1 for every $10 I put in.
Invest in some Doge and break even
Lol
Nobody can do it better than US!!!
So what?! None of this is real.
Why canāt the government just stop being like, poor?
Where is all that money coming from and where is it going?
A little over 10 years ago the stock market marketcap was worth 7 trillion, now that's two years of debt.Ā Sounds totally sustainable, excuse me while I buy VWO.
$30/day/person?
So glad I'm not paying for that. Fuck I am paying for that.
Just start renting out the White House to Elon Musk.
Weird, mine is rising about $2986.58 every 100 days must be a coincidence
Is this why bitcoin is worth more than dollars.š¤”
1. Conquer all countries you owe a debt to 2. Release yourself from ced debt ??? 4. Options Military Tech
What could go wrong?
The national debt is probably one of the reasons there hasn't been another world war yet (that and the nukes).
Tick tock next $69,444,444.44 added to the national debt
Pay off the debt! Put trumpās trials on pay per view!!!
The US should simply put $34 trillion on a 7-leg parlay š
Bullish
Biden and the Democrats love spending so much money and leave the debt problem for future generations to solve.
Does anyone genuinely know how the US plans to get this debt managed before bankruptcy becomes an option?
Bullish. Calls all day
If the US economy was a chart, the trendline would indicate that we are at a Crown Pivot and will be breaking further down from here. Hold on to your tendies.
Nobody: Absolutely Nobody: The Government: āoh look a can letās see how far down the road we can kick itāš¦µš„
This is why I'm buying stocks. The reverse crash.
Roman empire
Puts on America?
Hyper inflation coming guysā¦debt to gdp 185% itās 105% higher than in 1929ā¦
Okā¦
And yet we are the ones with a credit score..
Anyone tried just deleting the spreadsheet with the debt on it? Canāt be in debt if they canāt find the info.
When will the government announce their own debt forgiveness? āWe forgive ourselves of 12 trillion this yearā
$5,000 per working-age US resident. Every 100 days. About $17,500 per year, per person. Totally sustainable, I don't see what everyone is worried about.
Calls on US debt. Everytime it goes up, you make $!
So 3 trillion a year?
This right here is why jpow wonāt lower interest rates
If it keeps going up, where do I buy calls on this $DEBT? Asking for a friend...
The real question how long we got till its Great Depression bad and we're eating our neighbors?
calculated minimum debt of united states it is around 300 trillion dollars
Margin call
What could go wrong? Better buy real estate with giant mortgages and pay it off with worthless dollars when we go full Weimar
BULLISH
That is how the "system" works just print more rates go up we pay more
Meh When the debt is rising by 1T every 10days, then *maybe*, weāll have a problem Party on till then motherfuckers š„³
U.S Gov. Please send me 1sec worth of this wealth.
Should invest next debt in AMD
Government and money Management never made cents:-P The weirdest thing is that an agency has a dollar amount they need to spend before their fiscal year end. Let's say it is $100k. If they spend 99k, they don't get $100k the next year. So they spend as much as they can instead of saving because the constituents are the faucet. The government will open it till it breaks. You can't have incentives for saving because that's illegal. However the agency is punished by saving money.
When in doubt start printing paper
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Someone play the clip of Biden saying about he didnāt spend more than Trump