Even by Trickle Down Chicago School supply side logic, taxing the rich to pay down the debt would put more capital in the hands of investors. The whole point of trickle down economics is that we leave more capital in the hands of investors who will further the economy with it. If we tax the wealthy but use it for debt repayment, we’re still giving investors more capital, only this way we actually pay down the debt too. It’s a win win.

Funny enough Milton Friedman even agreed with this in an interview with Peter on Uncommon Knowldge. He said the only reason he opposes it is because if we paid down the debt it would only allow the next administration to run it up again. He said it was purely political why he opposed it.