Avoiding a US debt crisis is ‘economically easy,’ but politics stands in the way of urgent reform, research firm says
by FUSeekMe69
Avoiding a US debt crisis is ‘economically easy,’ but politics stands in the way of urgent reform, research firm says
by FUSeekMe69
5 comments
You don’t need a research firm to know this, to wit:
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1. We owe most of it to ourselves.
2. What we don’t owe to ourselves could easily be paid off by collecting the $688b/yr in unpaid taxes from the 1%.
3. We could pay that off even fast if we repealed the Bush/Trump tax cuts for the 1%, *even if we let everyone else keep their tax cuts*
4. We could pay it off ***even faster still*** if we took the savings from a Universal Healthcare program and used them to pay off the debt
5. and finally… WE DON’T WANT TO PAY IT OFF. Keeping other nations tied up in our bond market makes the US dollar stronger internationally and lets us buy cheap imports, effectively turning the rest of the world into a low cost factory for American consumers.
TL;DR there is no debt crisis. It’s just a trick to get you to vote for tax cuts for billionaires. While you’re worrying about the debt they’re quietly cutting funding to childhood food programs and you’re paying for the after effects of that.
The problems in your life aren’t because of national debt. They’re caused by massive hoarding by the 1% who are using their ownership of capital to price gouge you and keep your pay low (or your receipts low if you’re a small business owner).
Find something else to worry about because our national debt ain’t it.
TL;DR:
* The US could fund its deficits but political partisanship is in the way, Research Affiliates’ Chris Brightman wrote.
* Solutions include adjusting Social Security and implementing a national value added tax.
* If not fixed, debt-to-GDP is set to balloon, depressing growth and fueling inflation, he said.
The Republicans want to deliberately bankrupt the Federal Government do they can drown it in a bathtub.
An equity system where everyone pays something and provides each person agency in the system is the more fair and inclusive path.
Strange, nothing about cutting the military budget or cutting foreign aid or raising taxes on the rich.. very strange