Billionaire Hedge Fund Manager Marc Lasry Says Biden should Raise Taxes to Pay Down the Deficit ‘a Little Bit’ (Business Insider) Marc Lasry told CNBC on Monday that President-elect Joe Biden should raise taxes to pay down the deficit when he takes office. “I think you have to raise taxes because at the end of the day, there’s this huge deficit, and I think we have to pay that down a little bit,” the Avenue Capital CEO said. “I think we can all do a little bit more, but I would say you’ve got to end up getting into the system a little bit more capital, so that’s what I would try to do.”
Pay down deficit? Ha! Our government now days always spends more than it collects in taxes. (That's so much more fun than squandering money repaying debts.) What congress should have done years ago... pass a balanced budget amendment... forcing us to "live within our means".
I don't think it's possible to pay down the debt at this point. They keep printing more. Exercise in futility and it will hurt the non-billionaire class the most. Better focus on economic growth and stop the damn the printing press.
Yep, everyone knows that, and all the dopes in charge are just hoping the real problems don't fall on their watch. It's all basically one big game of pretend everything is normal, until it's not...
Naturally a person who has already made a billion dollars would put forth such a magnanimous statement.
Too many obstacles to genuine economic growth. Money Printing gives the "appearance" of growth... assuming one ignores the inflationary and currency debasement aspects... and that's "good enough" for politicos in today's world.