As the U.S. national debt continues to increase, billionaire Douglas Durst, whose father Seymour put up the National Debt Clock in Times Square in 1989, believes the solution is for the government to collect more money. "I think America has more of a revenue problem than a spending problem," he recently told The Washington Post.
His suggested remedy: Ask for more from the rich. "I support higher taxes on people like me," he says.
Durst believes that it will be necessary for the U.S. to raise taxes in order to pay down the debt, and he doesn't agree with the policy of giving tax cuts to affluent people like him when funds could be used to ease the debt burden instead. Durst called the 2017 tax bill "an overall step in the wrong direction."