Take from 1% and payoff the debt, at least a big chunk like 30-40% of it. The interest saved annually is either thrown back into the economy or used to pay off the principal on the remaining debt bonds.
If the 1% do not pay in to bring the 30-40% debt down then when it all goes a bust, they will lose them savings anyways. Also, 1% will not starve in this process, infact they might not even feel the pinch. Any other ideas to solve the debt problems? Would be good if the ultrarich do not have to go through the above suggested method.
If it were calculated that you were in the top 1% globally, which is likely given how the Abyssinians through Zimbabweans of the world drag the average down, would you gladly give up your savings, paltry to you but extravagant to them?
Bill Gates, Buffet and several others have already pledged to give away 95% of their worth for social causes. However, globally 1% is different game vrs US 1%. I would not recommend even US 1% to give away for "any" cause. But to save the US from going belly up economically or even drastically eroded, the US 1% should and if prodded will give away major contributions to pay off partial of their governments debts. US gone down drastically on economic meter and become like Greece or even Italy, Spain would be a disaster for the world balance.