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Anonymous
Anonymous asked in Politics & GovernmentPolitics · 1 decade ago

If Congress could balance the budget would you support?

If congress could balance the Budget( I know it will never happen)would you support a 1%-2% sales tax that would only be used to pay off the national debt ? If they did not maintain a balanced budget the tax would not be collected.If you would not support it how would you pay down the debt?

13 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    I would support nearly any measure to reduce the deficit. It's priority number one, along with jobs.

  • ?
    Lv 4
    5 years ago

    i might want to help it yet you would possibly want to never see congress make such an modification except surely everyone changed into voted out of workplace and the persons who were given elected weren't occupation politicians.

  • 1 decade ago

    Everything bought and sold in the US is added together to make a number called the Gross Domestic Product (GNP). Right now our GNP is about 14 trillion dollars give or take a few tens of billions. Now our National Debt outstanding, the actual amount we owe right now and not the amount we agree we will owe such as Social Security and legislation not yet enacted, is also around 14 trillion. Some say more but even the government agrees on 14 trillion right now. So if you took a 1% sales tax of everything bought and sold than that would be at most 1% of the GNP, that first number. Remember that even collecting a sales tax will also cost money. There are new forms and new offices that must be made to collect it. So the 1% will actually be less than even 1% of what we owe when all is said and done. Our interest on the debt is actually higher than 1%. And we are still increasing the debt which is what deficit spending means.

    So. If you took one of your credit cards (assuming your like most Americans who have several) and decided to make payments of 1% of what you owe, how long would it take you to pay off the card?

    Especially if you were still charging and paying around 10-15% interest which is super cheap by the way.

    I have to say the first step in recovery has to be reducing our spending and that doesn't just mean balancing the budget, it means budgeting to pay these bills and not borrow any more while were doing it. We really don't need a new tax since frankly we cannot tax enough to pay our debt even if we simply taxed everyone 100% of what they made and what they owned. To be honest with you we really can't pay the debt unless something happens to drastically increase our GNP and that is highly unlikely. Our best bet would be to separate into half a dozen new smaller countries that each disavow our debt and our federal government. Dissolve the United States and start fresh. We would have lousy credit and wouldn't be first world powers but we would be capable of advancing again. A fresh start is the most logical recourse and hope we learned well from previous mistakes.

    We can't get ahead right now. If the United States was a client of mine asking for help resolving his credit problems I would have to send him to a bankruptcy lawyer. We owe more than we make and we spend more than we make. We are borrowing to pay our creditors not to get ahead. We are robbing Peter to pay Paul. You can only do that for so long.

  • 1 decade ago

    Do you honestly think that sales tax would be used to pay down the debt? Once that revenue is there, the government will figure out a way to misappropriate it just like they've done with every other tax since day one.

  • ?
    Lv 4
    1 decade ago

    For anyone who has studied Constitution and the history and intent of it would understand that the current federal debt is a myth.

    The only thing to be used as money is gold and silver coins. Since we borrowed paper the easiest quickest way to pay off this alleged debt if to crank up the printing presses ship out the correct amount in federal reserve notes. Once the debt is paid off change currencies.

    Congress is supposed to pay off the debt each year by laying a direct apportioned tax on the states. Take the federal debt and divide by number of congressmen and then each state pays that amount times the number of congressmen they have.

    So in short I would not support any added tax.

  • Anonymous
    1 decade ago

    I don't support Congress balancing the budget when we're in a recession and the only historical solution for getting out of a recession is deficit spending.

  • ?
    Lv 7
    1 decade ago

    No. Extra taxation would only make things worse. Cut spending, cut spending, cut spending. That's the only way the budget can be balanced and the debt paid.

  • ?
    Lv 6
    1 decade ago

    no..screw them...gut the government get rid of all the worthless departments and drones...

  • ?
    Lv 6
    1 decade ago

    The government has plenty of revenue. It is the spending that needs to be reduced in order to balance the budget.

  • 1 decade ago

    Yes

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