It would fix the problem completely. However, you will not find a large enough pot of taxpayers to do it, imho.
I, while a hard working family, have never made enough to pay federal taxes, I have always gotten back more than I put in due to the child tax credits. Maybe in a couple years that will change, when I no longer have children young enough to claim.
I think that my story is repeated over and over, which is while it would be very effective if enough of the upper income brackets would do it, will not have the desired effect. They have put the under 50,000 per year family as receipients only, not payers.
We need a flat tax so all pay their FAIR share. No tax on necessities or items purchased at a goodwill store. 15 % or so everywhere else. That way even illegals, drug dealers, prostitutes and others who don’t pay taxes would have to.
Hard work and earning more would be rewarded instead of punished, and savings and thrift shopping/spending would be encouraged. Used cars, houses, boats, no tax- already taxed when new so it would be double taxation.
It’ll never happen cause the rich and their luxurious lifestyles would force them to ACTUALLY pay their fair share instead of finding loopholes in tax laws on income written by the rich for the rich, but, hey, a girl can dream.........
I’m poor so don’t pay much, either. Well, maybe we could just write nasty letters. LOL
I did write my reps about the first bailout. One of my congressmen voted against it, at least. I just worry that soon the dollar will be worthless compared to other currencies. Better spend ‘em while we got ‘em.