The US is broke. Have you noticed?

Salty Walty’s backup plan is to “raise taxes on the wealthy,” claiming it “could easily reduce the deficit to a more manageable amount.”

The U.S. tax system is already progressive—higher earners pay a bigger share—and hiking taxes on the rich could bring in more revenue.

But “easily” might be overselling it. First, there’s a practical limit: tax the wealthy too much, and you might see diminishing returns—people could move money offshore, invest less, or find loopholes.

Second, the deficit isn’t just a revenue problem; it’s a spending problem. Big-ticket items like Medicare, Social Security, and defense drive federal outlays, and their costs are ballooning as the population ages and global tensions rise.

Raising taxes might shrink the deficit, but it won’t fix the underlying issue if spending keeps climbing. It’s a tool, not a cure.



@Grok
 
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