The International Monetary Fund (IMF) warned Tuesday that America’s recent economic performance is partially the result of the country’s unsustainable fiscal practices, creating risks for the globa…
Pretty sure they’re saying if we taxes everyone 100%… Collected all the money from everyone in the country, then gave it all back to the central bank we borrowed it from originally, we’d still owe the interest on the debt… With no more money in the system where would we get the “taxes”?
Pretty sure they’re saying if we taxes everyone 100%… Collected all the money from everyone in the country, then gave it all back to the central bank we borrowed it from originally, we’d still owe the interest on the debt… With no more money in the system where would we get the “taxes”?
As with most debt, it can’t be paid off immediately or it wouldn’t have been debt to being with. It’s a bet on the future.