Politics_Observer wrote:How will the US pay back it's debt? WEELLL! By COMPLETELY doing away with ALL Social Security and Medicare FOR EVERYBODY! That means using that money that was supposed to be for Social Security and Medicare to pay on the national debt. OR declaring BANKRUPTCY. OR BOTH! The US government really ONLY represents RICH WHITE PEOPLE. And they DON'T GIVE A SHIT ABOUT ANYBODY EXCEPT ONLY THEMSELVES AND TO HELL WITH EVERYBODY ELSE.
All they have to do is pass subtle laws that prevent the poor and people of color from voting but allow racist whites to vote given they are easily conned and manipulated by those RICH WHITE PEOPLE. Moreover, because the US government ONLY represents RICH WHITE PEOPLE, taxes will NOT BE RAISED to pay the debt (OR IT MIGHT BE, BUT ON POOR PEOPLE WHO CAN'T VOTE and are least able to pay, it's the American way, it's the way we do business here). RICH WHITE PEOPLE SIMPLY DON'T WANT TO PAY FOR ANYTHING IN GOVERNMENT. They want EVERYBODY ELSE TO MAKE PAYMENTS and DON'T CARE about defaulting on the national debt.
So that leaves taking away social security and medicare from EVERYBODY to pay for it OR DEFAULTING ON THE DEBT and DECLARING BANKRUPTCY OR RAISING TAXES ON POOR PEOPLE WHO CAN'T VOTE. Maybe all those options! That's the plan the US government has from what I see. And when that happens, the rich will flee the US while everybody else is left in the shitter. They would have finished robbing and taking from the country without giving anything truly meaningful back. They don't give shit about anything larger than themselves. They only care about their money, their wallet and ONLY themselves. That's just the way it is in America. This whole fiasco of Trump getting elected and that Trump has never been held accountable is PROOF OF THAT.
OK, Politics_Observer,
I'm sorry but I don't remember your previous posts.
I will, therefore, accept that you mean exactly what you wrote in the above reply.
1] I agree that the US Gov. is controlled by rich or better super rich white men.
And, they only care about themselves and their children (and *maybe* their wife).
. . . So, I agree that the American people need to take control of *their* Gov. back from the rich. [Ask me how we can do this, at least what needs to be done.]
2] However, you are totally wrong when you suggest that those super rich white men will allow the US Gov. to default on the US Gov. debt.
. . . The debt is mostly owed to those rich men. Making the US Gov. default on the debt would be shooting themselves in both their feet. It's owed to them directly, or indirectly by being owed to comp. and banks that the rich own.
. . . Therefore, it is far better for the super rich for the debt to be rolled over with new bonds being sold or even having the debt paid with newly created (not printed, but like printed) dollars. [Nowadays, the Gov. credits the bank accounts of those it wants to pay; it doesn't need to print paper dollar bills.]
3] Your idea to stop paying Soc. Sec. and Medicare {and a lot of other Gov. spending} to create a surplus of tax revenues over total spending, is not going to work the way you think it will.
. . . You don't understand how the economy works. GDP (simplified for clarity) is the total income of all people and comp. in the US. If the Gov. stops making S.S. payments (etc.) this will seem to create the surplus you want, BUT it will also cut tax revenues. It will reduce tax revenues because the S.S. recipients (etc.) will not be spending the $$ they didn't get. This will cut the incomes of many comp. and small businesses like restaurant owners. The reduced incomes of the restaurant owners means they will pay less income taxes. Europe saw this happen with the austerity that was imposed after the GFC/2008. Gov. deficits dropped less than expected and in some nations the deficits actually increased. IIRC. But, it did create a lot of suffering by the people, especially young people.
4] What good will it do your rich people to flee the country? They are rich because they own 3 kinds of things. a] Cash = mostly US $$ or US bonds [but also some euros and euro bonds], b] comp. stock shares in mostly US corps. [but also some non-US corps.], and c] land and buildings in the US [and some in other nations]. IMHO, after the rich flee the nation the US Gov. would very likely just tax the sh*t out of their assets in the US and functionally confiscate them or just use eminent domain to do the same.
. . . If the US defaulted on *all* of the US bonds and T-bills, etc.; This action would send the whole world into a Great Depression which would make all money lose its value. No matter where your rich fled to, their wealth would not be able to buy them as much as it does now. They know all this, so they will keep the can being kicked down the road as long as they can.
. . . IMHO, this is forever. Well, until the climate crisis kills 90% of the world's people. Or, the world runs out of natural resources. One or both of which will likely happen within the next 100 years. That is, unless very drastic changes are made.
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