The Instigator
dairygirl4u2c
Pro (for)
Tied
0 Points
The Contender
Ryan_Crowley49
Con (against)
Tied
0 Points

paying back the national debt within 30 years is possible

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Voting Style: Open Point System: 7 Point
Started: 9/6/2015 Category: Politics
Updated: 2 years ago Status: Post Voting Period
Viewed: 328 times Debate No: 79464
Debate Rounds (3)
Comments (1)
Votes (0)

 

dairygirl4u2c

Pro

the national debt is like 18 trillion. the deficit is estimated at half a trillion. income taxes last year are estimated to be one and a half trillion. to pay it back in thirty years,we need at least half a trillion a year surplus. that means we'd have to increasae taxes a trillion a year. to get that amount, we'd have to increase taxes sixty six percent. that is, sixty six percent of a trillion and a half is a trillion. so, someoen who pays ten thousand in taxes, would have to pay over sixteen thousand, and so on
Ryan_Crowley49

Con

Incorrect, you may say it is 18 trillion but the real debt is about $211 trillion in unfunded liabilities. Unfunded liabilities being the amount, at any given time, by which future payment obligations exceed the present value of funds available to pay them. For example, a pension dollar per second, would take you 32 years, to pay back one trillion dollars, at a rate of one dollar per second, would take you 31,688 years. an's payment obligations, including all income, death and termination benefits owed, are compared to the plan's present investment experience, and if the total plan obligations exceed the projected plan assets at any point in time, the plan has an unfunded liability. Now on to the actual debate, the taxes would not be raised to the amount unless we are in a economic crisis. Now lets put $211 in to perspective, to pay back one million dollars, at a rate of one dollar per second, would take you 11.5 days, to pay back one billion dollars, at a rate of one dollar per second. With your tax raise, it still would be impossible especially with our outrageous spending. Here is a solution: stop foreign aid, cut the military budget, privatize social security, privatize health care, cut all national parks, EPA, Post office, end the Department of Education and leave education to local level with a little federal dollars, cut all federal politicians salaries, end farm subsidies, end telecom subsidies, end economic development subsidies, end overseas contingency operations, end subsidies for energy efficiency, end loan programs, end fossil/nuclear/electricity subsidies, privatize the power marketing administrations, privatize TSA airport screening, devolve FEMA activities to the states, end rental assistance, end community development subsidies, end public housing subsidies, cut net outlays by 50% through spending, cuts, privatization, and user charge, end state/local grants, end employment and training services, end Job Corps, end Community Service for Seniors, end trade adjustment assistance, cut highway/transit grants to balance trust fund, privatize air traffic control (federal fund savings), privatize Amtrak and end rail subsidies, cut earned income tax credit by 50%, end refundable part of child tax credit, end refundable part of AOTC, cut federal civilian compensation costs by 10%, privatize the Corps of Engineers (Civil Works), privatize the Tennessee Valley Authority, repeal Davis-Bacon labor rules, end EPA state/local grants. This will make sure we have some chance at eliminating the debt!
Debate Round No. 1
dairygirl4u2c

Pro

con is correct that there are unfunded liabilities. i might squabble with the number but i see no reason to. all those liabilities mean is spending will be going up in the future. that means we'd have to increase taxes as it goes up. within a thirty year window, it wont go up so much that we have to pay back all unfunded liabilities.
Ryan_Crowley49

Con

Ryan_Crowley49 forfeited this round.
Debate Round No. 2
Ryan_Crowley49

Con

Ryan_Crowley49 forfeited this round.
Debate Round No. 3
1 comment has been posted on this debate.
Posted by FrozenLichBox 2 years ago
FrozenLichBox
I'd like to debate this with you, but your opening argument seems to be in favor of that against you...
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