HeavenlyPossum on Nostr: Americans collectively owe about $17 trillion in consumer debt. Right-libertarians ...
Americans collectively owe about $17 trillion in consumer debt. Right-libertarians complain about taxes, which average around a third of income for many Americans.
If we imagine our income being directed to pay off each obligation sequentially rather than simultaneously, then we could calculate how long we labor each year to extinguish our tax burden—about halfway through April. But then we labor another third of the year to pay off our landlords and mortgage owners for permission to shelter ourselves. So let’s imagine that, by the end of July, we’ve covered those two.
Many people pay another 10% of their income to finance their car payments, while student loans consume another 10% of income for many people.
So, perhaps by the middle of October you’ve paid those rents as well.
7/
If we imagine our income being directed to pay off each obligation sequentially rather than simultaneously, then we could calculate how long we labor each year to extinguish our tax burden—about halfway through April. But then we labor another third of the year to pay off our landlords and mortgage owners for permission to shelter ourselves. So let’s imagine that, by the end of July, we’ve covered those two.
Many people pay another 10% of their income to finance their car payments, while student loans consume another 10% of income for many people.
So, perhaps by the middle of October you’ve paid those rents as well.
7/