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wealthiest...then DJT fired the Inspector General overseeing the proper use of $2.2T in his CARE Act...on top of failing to invest in critically needed Infrastructure, after repeated "Promises" to do so. Never mind that he himself has sought bankruptcy protection for several of his business ventures.

Spending cuts are always a part of the equation for debt reduction...but so is tax policy, like Biden's proposal to ensure corps and the wealthiest pay their fair share...it worked during our 'Glory Years' after WWII.

Check out the attached analysis of both Trump and Biden performances.


Link: https://www.crfb.org/papers/trump-and-biden-national-debt

Define it with numbers please.

burdensome...here's an excerpt...
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The Big Drivers

Biden’s proposed tax cuts include expansions of the Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC), both of which primarily benefit low- and moderate-income households. TPC estimates a smaller overall benefit from Biden’s CTC changes than the Administration, in part because TPC was unable to model some proposed CTC revisions. Those features could significantly affect the CTC proposal’s cost and distributional impact.

The biggest single source of tax hikes on high income households is Biden’s proposal to raise the top rate on capital gains from 20 percent to 39.6 percent.

Other important tax increases for high-income households: Biden’s proposed increase in the top rate for wages and salary income to 39.6 percent, and his proposed expansion and rate hike for the Net Investment Income Tax. Biden’s minimum tax on individuals with more than $100 million in wealth affects only about 20,000 households but would be substantial tax increase for those who get hit.

Finally, as investors and highly paid workers, high-income households would pay a larger share of Biden’s proposed corporate income tax increases. They include a higher corporate income tax rate and tough new tax rules on US-based multinational corporations.

The president is nothing if not consistent. As Biden has made clear since his 2020 campaign, he wants to raise taxes substantially on high-income households and corporations and provide modest tax cuts to low- and moderate-income households. And, like it or not, that’s what his budget does.
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I will say that Ray Dalio is correct in saying that the U.S. Wealth Inequality level is a major problem...he just doesn't seem to understand how it's happening. BTW, Ray is also a member of the "Volcker Alliance" and didn't get caught up in the highly leveraged Wall Street collapse of 2007.

https://en.wikipedia.org/wiki/Ray_Dalio


Link: https://taxpolicycenter.org/taxvox/bidens-budget-would-raise-taxes-high-income-households-cut-them-many-others

But I am far more in favor of consumption based taxation.

Biden made a mockery of the rule of law and especially accountability for tax dodgers.

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The federal government of all the useless employees. It’s not a coincidence that he ordered all their lazy *saws back into the office cause he knew a certain % would likely quit.

t videos from him on his company's site and throughout the web. Milton Friedman also was great at simplifying the complex. He, too, talked about how government spending drives inflation. Of course, Libs here and like Robert Reich see new issue with tremendous government spending, because the rich always can pay more.

down my knowledge. As Friedberg said, it’s the most important issue of our time.

Hoping that Trump unleashing our natural resources brings down the cost of things too, so interest rates can decline as well.