To the editor: I agree with visitor contributor Ivo Welch (“Nobody can grasp trillions. Right here’s methods to make sense of federal spending and debt,” June 26). Right here’s a novel concept: Why don’t all of the billionaires within the U.S. take an enormous leap of religion of their nation and contribute their wealth to paying off the nationwide debt? They might be hailed as heroes. What extra might a billionaire need?
Maria Sugranes, Huntington Seashore
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To the editor: Welch wrote that elevating taxes might gradual development. However traditionally, there may be nearly no correlation between tax charges and GDP development.
Tax cuts have all the time been a giant fats giveaway to the wealthy paid for with public debt, so the wealthy bought the cash and the remainder of us bought the debt. That debt is then used in opposition to us as an excuse to chop issues like Medicaid, Medicare and Social Safety. Debt is used as an middleman between tax cuts and entitlement cuts, making it so sophisticated nobody can determine it out. Tax cuts are class warfare of the wealthy in opposition to most people.
Jeff Christie, Woodland Hills
