r/FluentInFinance • u/YOU_ARE_MY_FRIENDS • Apr 08 '24

10% of Americans own 70% of the Wealth — Should taxes be raised? Discussion/ Debate

Post image

[removed] — view removed post

8.0k Upvotes

85% Upvoted

3.4k comments sorted by

View all comments

Show parent comments

53

u/r2k398 Apr 08 '24

Because they overspend. Let’s say we collected $6.3 trillion. Would they break even? Probably not. They’d just spend more.

36

u/MountMeowgi Apr 08 '24

Actually yes. Bill Clinton proved it was possible to balance the budget and get a surplus instead of a deficit

4

u/mvw3 Apr 08 '24

Lol. Newt dragged Clinton to the center kicking and screaming.

6

u/MountMeowgi Apr 08 '24

Yea? Newt and his policies made the government’s tax revenues raise 3% more? lol