We Can Pay Off the National Debt
  • Petitioned US Government: Congress and President Obama.

This petition was delivered to:

US Government: Congress and President Obama.

We Can Pay Off the National Debt

    1. doc bob
    2. Petition by

      doc bob

      st george, UT

The wealth distribution in the US has gotten out of control.  Eighty percent of Americans have just 7% of its wealth. The top 1% have 43%.  Excessive government spending and tax cuts over the past 30 years have increased the debt and enriched the wealthy far more than most Americans. It is time for the wealthy to return a small percentage of their fortunes to reduce the debt or at least balance the budget.

The top 5% of wealthy Americans hold almost three fourths of the wealth in America. Our national debt is a pressing problem but one that this privileged group can pay off with a simple tax on their wealth. The 80% of Americans simply do not have the wealth necessary to pay off the debt and if it continues to grow it will consume the federal budget. 

The cutoff for the top 1 percent of American households, in terms of net worth, is more than $9 million  based on  the  Federal Reserve Board’s Survey of Consumer Finances which put the figure at $8.2 million in 2007.  One percent of 300 million Americans is 3 million who are in the top 1% with more than 9 million each (in most cases, much more). Therefore, a 10% surtax on the wealth of the 1% wealthiest Americans, with an average at least 30 million,   for each of these 3 million people is about 9 million million,   $9,000,000, 000,000  or  9 trillion.  Make that a 2% tax per year and we can pay off the national debt.  I propose a 2% surtax on the wealth of the 1% wealthiest Americans each year for 10 years. That will pay off  the national debt.

Recent signatures

    News

    1. Reached 100 signatures

    Supporters

    Reasons for signing

    • Mona McGuire OMAHA, NE
      • about 2 years ago

      Rid the Obama criminal conspiracy against the USA

      REPORT THIS COMMENT:
    • Dan Zaxton SAN DIEGO, CA
      • about 2 years ago

      Lacking a debt reduction and redistrubtion will hinder socioeconomic advancement for the majority of Americans

      REPORT THIS COMMENT:
    • Doyle JOHN GRAND JUNCTION, CO
      • about 2 years ago

      if the national dept keeps growing then the middle class workers will have to be overburdened as slaves

      REPORT THIS COMMENT:
    • Armin Balli CHICAGO, IL
      • about 2 years ago

      I Think It Should Be More Progessive, With The Top One Tenth of 1% or the Top 13,000 Who Should Pay A Much Higher Percentage. After All They Own Most of The Wealth In This Country.

      REPORT THIS COMMENT:
    • VICKI BOZARTH PEORIA, AZ
      • about 2 years ago

      this is very important that we don't bankrupt America !! we will end up like Greece if we don't stop it now!!!

      REPORT THIS COMMENT:

    Develop your own tools to win.

    Use the Change.org API to develop your own organizing tools. Find out how to get started.