(March 17, 2016 at 5:53 pm)Brian37 Wrote:The national debt started growing after the Civil War when the Repubs refused to raise taxes to quickly pay it off. And because they were in control for so long the national debt kept growing and people got used to it.(March 17, 2016 at 3:44 pm)Wyrd of Gawd Wrote: The more money you have the more debt you can take on.
The bullshit the global uber rich don't seem to understand is that the earth is a globe, and finite, not flat and infinite. There is something horribly immoral about 62 individuals having the same wealth equal to 3.5 billion of 7 billion.
The more money you have can also cause you to be a complete selfish power hungry narcissist.
Dept is bullshit. We raise it all the time. The real dept isn't because the rich need all that profit, the real reason we have so much dept is because the top uses the rest of us as their ATM and make bad bets, and dump the losses on us when they lose. And on top of that pay is not keeping up with the cost of living. There is something also horribly wrong when you pay rent of $1,200 a month not for an apartment, not for a room, but for a bunk in a room with others.
There is something horribly wrong with cell phones that cost so much people make payments on them like a car. And everything is going like that, you look at QVC and Home Shopping Network, and just about every product is a "flex pay" option.
It is boiling the lobster slowly. No, the uber rich don't need our money, we don't need to be supporting them through tax cuts for them. We need them to invest directly in workers in livable wages and cheaper cost of living.
The way the debt is structured there's no real need to pay it off. If things get rough the government can simply say "too bad, so sad". Foreign countries will be pissed but who cares? The citizens will be OK because they won't have to fork over 90% of their income to pay it off.
And since foreigners own so much of the debt they are funding our operations instead of investing their money in their own countries. If they spent all of that money in their own countries they could solve a lot of their internal problems. Instead, by buying our debt they allow you to pay low taxes.
So don't sweat it. Life is good. You'll be long dead before the crap hits the fan. By that time the national debt might be $500 Trillion.