You understand that ‘debt’ is something made up and not tangible whereas the wealth of the US itself is (partly) made up of actual real things like buildings and gold and land
Moving a fifth of the US’s actual physical wealth to debtors (who even are these debtors??) who have just provided ‘capital’ (the go-ahead to start work) is not in anybody’s interest except the owners of the debts
The national debt is essentially a promissary note from a government that it will eventually provide $35tn worth of future citizen labour and natural resources to people who haven’t lifted a finger. It is a tax on future citizens
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 We could pay that off even fast if we repealed the Bush/Trump tax cuts for the 1%, *even if we let everyone else keep their tax cuts*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.
Find something else to worry about because our national debt ain’t it.
Gonna keep posting this until folks realize the national debt is a trick billionaires use to raise your taxes and lower theirs.
This seems pretty irrelevant. The assets are owed by the citizens and the debt is the government. The idea that we don’t have a problem just because the governments debt isn’t as big as all of what the citizens own, seems kind of absurd.
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You understand that ‘debt’ is something made up and not tangible whereas the wealth of the US itself is (partly) made up of actual real things like buildings and gold and land
Moving a fifth of the US’s actual physical wealth to debtors (who even are these debtors??) who have just provided ‘capital’ (the go-ahead to start work) is not in anybody’s interest except the owners of the debts
The national debt is essentially a promissary note from a government that it will eventually provide $35tn worth of future citizen labour and natural resources to people who haven’t lifted a finger. It is a tax on future citizens
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.
Find something else to worry about because our national debt ain’t it.
Gonna keep posting this until folks realize the national debt is a trick billionaires use to raise your taxes and lower theirs.
This seems pretty irrelevant. The assets are owed by the citizens and the debt is the government. The idea that we don’t have a problem just because the governments debt isn’t as big as all of what the citizens own, seems kind of absurd.