"Senate resolution could add roughly $5.7 trillion to the debt over the next 10 years. It calls for a $5 trillion increase in the debt limit." How are people feeling about this?

[u/lostredditers]

https://www.nytimes.com/2025/04/05/us/politics/senate-budget.html?smid=url-share&smid=nytcore-android-share

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[u/namjeef]

Balance the budget please.

[u/DivineCryptographer → u/namjeef]

Can we tax companies for example so more revenue comes in..?

[u/DowntownManny7818 → u/DivineCryptographer]

They already are. Such a stupid lib comment.

[u/johnnyboobies → u/DowntownManny7818]

Tax = lib

[u/DowntownManny7818 → u/johnnyboobies]

“Why dont they just tax us all until were slaves” - the left

[u/DivineCryptographer → u/DowntownManny7818]

Are you a company..?

[u/Ryujin_707 → u/DivineCryptographer]

Tax is passed to consumer. It's great how you guys understand tarrifs but not corporate tax.

[u/DivineCryptographer → u/Ryujin_707]

Tarrifs are paid by the importer, as are taxes, i agree that both are passed on to the consumer…

But to me, tax cuts are apparently for large companies, while the consumer has to make up for those cuts with things like income tax or stuff like that. So why not pass those costs to companies first, so the burden is shared between those buying their goods or using their services, instead of making everyone carry their tax load…

[u/DowntownManny7818 → u/DivineCryptographer]

Also to another point of how stupid your comment is. A person who owns a company their main income is their business right? So when they pay taxes from their business it’s a tax on their personal income as well because now your personal income comes from your business. I didn’t think id have to explain this but that comment is so ridiculously stupid I guess I needed to.

[u/DivineCryptographer → u/DowntownManny7818]

So the company owner pays tax over his company profits, but not again when he transfers money from his company to his private account? Or is that when he pays in ome tax..?

Obviously i’m not talking Joe Shmoe, small mom&pop shop style here, they pay their share… But why does the american tax payer need to foot the bill for Amazon or Wallmart’s employees in the form of food stamps..?

Why do the biggest incomes carry the least societal burden? Seems like a lot of other modern countries have at least the basic stuff figured out… Meanwhile, the land of the free doesn’t even have basic healthcare or decent education…

[u/DowntownManny7818 → u/DivineCryptographer]

I am. And so is everyone who owns a business. Go back to the lib subreddits.

[u/SIewfoot → u/namjeef]

5.7 trillion over 10 years is a huge step forward compared to the 2 trillion+ a year we are doing right now

[u/Revolutionary_War503]

My only addition to this conversation is.... save what $$ you can. Try and get out of revolving/credit card debt if you're able. The last recession put a lot of people in bad places financially. I don't feel like we'll be able to avoid another one, and if we can't, who knows how bad it'll get.

[u/nickj230606]

I think it’s a spoke in the wheel and if the wheel heads where the right thinks it will we’ll all be fine. If it heads where the left thinks it will we will all be starving and living off the land circa 1850. Time will tell.

[u/BotherResponsible378 → u/nickj230606]

This… is a pretty politically unbiased POV. I like this, and I like you for it.

I think both the left and right need more balanced POV’s like this.

[u/nickj230606 → u/BotherResponsible378]

I voted for trump. I don’t blindly support republicans and I have voted democrat in local/state/house elections. I think every president, regardless of political party should be given a year or so before we begin to judge their plan.

[u/BotherResponsible378 → u/nickj230606]

Again, another great politically unbiased POV.

[u/No_Virus_7704 → u/BotherResponsible378]

Notice you got downvoted? (Not by me). Wonder what kind of people would do that.

[u/BotherResponsible378 → u/No_Virus_7704]

I did note that. Strange behavior IMO. Wanting people to treat this less like a team sport.

I must be the devil himself.

[u/woman-ina-mansworld → u/nickj230606]

ALWAYS wanted circa 1850

This would be so cool

[u/Texadoro]

Honestly I’m interested to see how this plays out, at least it seems like a plan. I’m impressed about the spending cuts so far, we will see if the tariffs generate much revenue, and then what is done about tax revenue. The main thing is that it was unsustainable to just keep taxing everyone to the hilt while also increasing spending YoY, that was getting us nowhere as well.

[u/Pattonator70]

If we eliminated all tariffs and cut taxes we would all have more money in our pockets.

[u/Breadsammiches]

Biden pointed us towards a recession, it’s going to happen. It’s just a matter of time.

[u/zenethics]

Paths out of debt:

1. Innovation/expansion
2. Default
3. Austerity
4. Inflation

Hoping for 1, expecting 4.