hh on Nostr: This doesn't address the problem, which is the spending that people DEMAND to begin ...
This doesn't address the problem, which is the spending that people DEMAND to begin with in order to vote for a politician.
The interest comes from the debt that the government incurs to pay for those roads, bridges, military, schools, hospitals and Social Security (and a ton of other crap)... without raising taxes to a sufficient extent... because the people wouldn't vote for them if they did.
(Actually I contend that, as we see in Europe, that's no longer the case nowadays and people will put up with effective confiscation rates of 60 and 70% of their income. Americans will too, eventually. But I digress).
The interest comes from the debt that the government incurs to pay for those roads, bridges, military, schools, hospitals and Social Security (and a ton of other crap)... without raising taxes to a sufficient extent... because the people wouldn't vote for them if they did.
(Actually I contend that, as we see in Europe, that's no longer the case nowadays and people will put up with effective confiscation rates of 60 and 70% of their income. Americans will too, eventually. But I digress).
quoting note19dp…f0v0
About half of all personal federal income taxes are going just to interest on the debt; grab your most recent paystub and realize that half your income tax is not going to roads, bridges, the military, schools, hospitals, or Social Security - JUST INTEREST: