Start United States USA — Financial An absurd suggestion on how to fund Trump’s border wall

An absurd suggestion on how to fund Trump’s border wall

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Dear John: If we are so concerned about China owning so much of our Treasury debt, why don’t we do this: Allow Americans to buy…
Dear John: If we are so concerned about China owning so much of our Treasury debt, why don’t we do this: Allow Americans to buy Treasury bonds and pay no federal tax on the interest earned.
To make up the difference, raise the income tax on wealthy Americans by the same amount as the loss in revenue from the tax-free bonds. F. G.
Dear F. G. Americans, of course, can already buy as many US government bonds as they want. Just go to a broker or buy directly from the Treasury.
What about Americans being incentivized to buy these bonds by not having to pay tax? I think not paying tax is a great idea. But, as you noted, the Treasury would lose revenue, and that would make our budget deficits and debt worse.
So let rich people make up the deficiency. That’s OK with me, since I’m not rich. But those who are might not like subsidizing this venture. And they will call elected officials, who’d nix this idea, I suspect.
But good try.
Dear John: In his brilliant best-selling 1987 autobiography, “The Art of the Deal,” President Trump wrote a quote that has always stuck with me: “The key is to find a mutual interest. Deals work best when each side gets something it wants from the other.”
With that in mind, I have an idea to present to Trump regarding the funding of the much-needed wall on our southern border that is getting incredible political opposition from Democrats, who for political reasons are holding back funding.
Currently, there’s talk of setting up a Go Fund Me account where Americans can contribute their own money.
However, to truly and quickly get the $25 billion needed to fund this vital capital investment project, I suggest Trump incentivize the process by signing an executive order that offers a 50 cents on the dollar upfront discount on a person or couple’s outstanding IRS bill.
For example, if a person/couple were to owe the feds $25,000 on their tax bill that would be financed over time, what if they were to come up with a one-time $12,500 cash payment to the GFM wall account?
That would exempt them from the other half of their IRS bill. And once the $25 billion is raised, the fund would reject further contributions.
Now that’s what I call the art of the deal! E. D.
Dear E. D. I disagree with you on so many levels that I don’t know where to begin.
But let’s start with an idea that you claim there is “talk of.” A Go Fund Me account to raise $25 billion!! Really!!
Someone is actually proposing that. Right next to the Go Fund Me accounts by people who need $200 so they can go to their prom or $1,000 so their dog can get a prosthesis.
OK, first the wall itself. I think it’s a stupid idea. Mexicans already tunnel under the border. They’ll just tunnel under the wall, and billions will have been wasted.
That’s not to say I don’t think the southern border needs to be protected. Quite the opposite. But I think all the technology brainiacs in this country need to come up with a modern solution that can stop people from crossing the border.
This solution — whatever it is — might cost even more than a wall. But it would need to be effective and not thwarted by someone with a shovel, strong arms and a lot of time on his hands.
Now for the funding idea.
This is really no different than just paying for the wall with taxpayers’ money. If this were done the normal way, taxpayers would pay the government what they own in taxes, and Treasury would write the check for the wall.
Instead of paying all their taxes, the Go Fund Me page would get the money that Treasury doesn’t. So Treasury will be short that much revenue, instead of getting the tax revenue first and then paying for the wall.
But I do like the fact that you are thinking. You should run for Congress so you can replace one of the nonthinkers down there.

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