I dont trust the data any more. You should check how they managed to create the list, which sources they used etc. Most of the data are made by the West, so West countries top the list all the time. Thailand should definitely be in top 10!
Income tax is work tax. You are paying 30% of your labor every month. Don't you get it?
When you tax wealth and not work, a person with a billion dollars, gets taxed 20 million dollars a year, while a person with no wealth and gets 3K dollars a month, doesn't pay taxes, because he is poor af.
Currently, Billion dollar guy pays nearly nothing even though this won't effect his life much, while the worker pays 1K a month even though he needs it to live.
It comes with stuff like that, because since everybody will have similar wealth, what matters for the most people will be applied.
Yes I agree. It wouldnt be problem-free. What I mean is, you can pay the debt, if your debt was in another currency, you might be in a position that you just cant pay the debt.
Firstly the debt is for a long time. The debt until the next year is 10 trillion. You can pay this debt with wealth taxes if you dont want to print more money. Secondly, USA has to produce. It stopped producing good tech, China nowadays owns every tech production. If it earns money, it can pay this debt.
Thirdly, most of the debt is domestic and to the rich. You can just stop paying this. You are the government dude, you are taxing people's labor, you are taxing every transaction, most countries have stamp tax that doesnt even exist, you can oc tax this money too, and sometimes governments do this.
We have to tax the rich, even if we paid all the debt, we still have to tax the rich. This is required for justice, this is required for people to love their country, this is required to stop poverty, homelessness. When we have a just society people are going to help their country willingly. But currently, some people are killing others, raping bribing, doing anything and we can do nothing about it, while being hungry.
This debt is not important dude. You can pay any debt that is taken with your own money. You just cant pay if your debt is in other types, like gold silver or other currencies.
They created this system intentionally, so that they wont tax the rich and they make us poorer by printing money, and they have an excuse for stupid things.
The only problem with paying this debt, is people starts to distrust us dollar around the world, which is what they should do.
I checked, and 100% of the debt is in USD. So, the govn can pay it right away.
My city is building anything but what humans want. Benches, parks, trees are not built
It is hard when they continually bribe your government
Yess, that is how capitalism will work.
I don't want you to become a villain, sorry
Let's say you bought a super yacht with 300M, what are you gonna do with 700M?
He should be jailed. But anyways taxation to all his wealth is enough
I stumbled upon a person of knowledge. Thanks dude, great answer for a low effort question. I will check out the movies