The billionaires and millionaires through brand new taxes? hehehehe. With this amount of debt there is no way we can pay it back even with a 100% tax rate for decades. What will eventually happen is the government will come to a standstill for a brief while, one week to a month, and the debt will be reset to zero. For this to happen there has to be a very good Congress and a Great President to guide the process. It is going to be a lot different than a Chapter 11 and 13 bankruptcy. I know this sounds a little simplistic, but it gets us into the ballpark on how the reorganization of debt will be handled. There cannot be any handwringing in the Congress, a firm plan needs to be set in place and then the President must concur. America will not "fail", but it will be a lot stronger, especially when the evil Deep State Millionaires and Billionaires have to surrender their assets to pay back this huge debt. Also a lot of debt will be written off and those deep state actors holding the debt will be SOL.
The billionaires and millionaires through brand new taxes? hehehehe. With this amount of debt there is no way we can pay it back even with a 100% tax rate for decades. What will eventually happen is the government will come to a standstill for a brief while, one week to a month, and the debt will be reset to zero. For this to happen there has to be a very good Congress and a Great President to guide the process. It is going to be a lot different than a Chapter 11 and 13 bankruptcy. I know this sounds a little simplistic, but it gets us into the ballpark on how the reorganization of debt will be handled. There cannot be any handwringing in the Congress, a firm plan needs to be set in place and then the President must concur. America will not "fail", but it will be a lot stronger, especially when the evil Deep State Millionaires and Billionaires have to surrender their assets to pay back this huge debt. Also a lot of debt will be written off and those deep state actors holding the debt will be SOL.