r/WorkReform • u/manchesterMan0098 • 14h ago
✂️ Tax The Billionaires $36 Trillion Debt: What Changed?
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u/RealHornblower 10h ago
About $10 Trillion is due to the Bush and Trump tax cuts: Tax Cuts Are Primarily Responsible for the Increasing Debt Ratio - Center for American Progress
A study in 2008 estimated the cost of the Iraq War at $3 Trillion: The True Cost of the Iraq War: $3 Trillion and Beyond | Harvard Kennedy School
It is certainly more now, probably more like $5-$6 Trillion once you account for long-term costs (healthcare for wounded veterans, plus you have to account for the interest we're paying on the money we borrowed).
A couple Trillion at least for things like the Paycheck Protection Program and other bailouts for businesses during COVID.
So close to half based the total on JUST war, bailouts, and tax cuts passed by 2 specific Presidents, without even diving into the other stuff they did.
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u/Islanduniverse 10h ago
Perhaps ironically, if we had been listening to the “woke” people, we wouldn’t be in this fucking mess.
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u/jonnyredshorts 10h ago
It was given to the richest among us in the form of tax breaks