Small Donors Could Pay Off National Debt

The Clinton campaign is expected to announce that it has collected $35 million in donations for the month of February. Barack Obama’s campaign is expected to announce a much higher total of $50 million, all from large numbers of people donating small amounts.

Both campaigns have basically tapped out the big dollar donors who gave early in the process. They are now relying on lower income people who send in $5, $10, or $20 at a time. It is probably safe to say (yes this is an assumption) that these lower income folks are probably in the lower 50% of income earners which means they, as a group, pay about 3.5% of the nation’s income taxes.

Why don’t these folks, who never seem to be able to afford anything without government intervention (the impression the Democrats give), make monthly donations to the treasury to pay off the national debt? Eighty-five million dollars a month would equal 1 billion 20 million dollars each year and that would help pay off the national debt, assuming that Congress does not continue its out of control spending.

Even a one month donation to the government would help. Perhaps these folks could earmark the money for Social Security or welfare so that they could help their own cause as well as the elderly who are trying to make ends meet.

I imagine people would not donate for these reasons because they are used to others providing for them. They do not want to pay their money to help others. After all, that is why they are donating to Obama and Clinton. These two are promising to spend even more of other people’s money to help the less fortunate and those small donations are worth it if universal health care can become a reality.

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2 Responses to “Small Donors Could Pay Off National Debt”

  1. No, no, NO! Bad doggie!!

    The “you go first” argument is only to be used on Republican chickenhawks. It is a unidirectional argument.

    You must not imply that war protesters should serve as human shields. You must not demand that abortion rights supporters have personal experience performing abortions. You must not expect gun control advocates to live in high crime neighborhoods with sluggish 911 response times where a gun might actually be needed. And forget about waiting for Michael Moore and his fellow single-payer healthcare system advocates to move to Cuba.

    The “how come you ain’t doin’ it” argument is ONLY for chickenhawks like me.

    Now off to obedience school with you, until you learn your lesson.

    Morgan K Freeberg’s last blog post..Cheap Talk

  2. Deb V. says:

    I heard on the Joey Reynolds show this week that we (the U.S.) paid off its national debt a long time ago without any such scheme, with just good old spending less than you make. There is a new book out about it, One Nation in Debt, by some NYU prof.