INSTANTLY fix the US: How Obama/Romney could win instantly; Fix US debt overnight
Some simple math on how the richest 5% of Americans.....could instantly fix our national debt. And how Romney or Obama could capitalize on this fact.The US set a record last year for total number of millionaires (U.S. Has Record Number of Millionaires - The Wealth Report - WSJ) at 3,100,000 (about 1% of the population). They had a combined wealth of about $11,000,000,000 (trillion).
US national debt is about 16 trillion. (U.S. National Debt Clock : Real Time).
Now, if the top 1% of Americans, all millionaires with 11 trillion in total wealth, EACH dedicated 1,000,000 in ONE single contribution to the country.......in one year, overnight with one collective act, the top one percent of earners in this nation would cut the national debt by 20% instantly.
And what if we asked the top 5% to do the same, but a bit less for each step? Say the top 2-5% each contribute 500,000, or 250,000??? Thats about 15,000,000 people. If each of those top 5% gave 500,000.......thats another 7.5 trillion dollars.
Combined...thats over half the national debt GONE, instantly.
It would be voluntary. A massive collective effort. An epic act equal to World War 2. Literally SAVES our nation. Romney or Obama could call for this epic, unselfish act. Pass a bill that says once these brave, heroic private citizens reach that total voluntarily, the federal govt automatically kicks in spending cuts of equal proportion until this damn thing is balanced and the debt gone.
Some would be angered by this very notion.
- "It aint fair"
- "It aint my job to pay the debt"
- "Why me, why dont the bottom half pay??"
Well, like I said, this would be an effort economically that would equal the WW2 generations effort to save this country. Would we be up to it? What if after we asked the top 5%, we then asked the top 10% to pitch in another contribution? The top 6%-10%, abuot another 15 million people, could kick in 100K each. Thats another 1.5 trillion GONE from the debt!!!!
And what if...God help us.....we asked the top 10% to do this 2 years in a row. We looked to them as the true saviors of our nation, and they equalled the effort we put out in WW2 to save this nation. They could erase the debt in 2 years. Gone. Add in the Fed's agreed-upon cuts in spending.....and wow, what a potential miracle.
Any chance the top 1%, then top 5%, then top 10% of wealth earners in this nation would make the personal sacrifice to save this nation? Our military has been doing it for centuries. Our teachers, cops, firemen have been doing it to save our communties for centuries.
Now is the time that the financial and economic kings of our land COULD step up, and put forth this herculean effort to save this country.
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