The problem I have with raising taxes.......it always goes toward growing government, never toward reducing the deficit. Today we find they are paying off student loans to buy votes for Democrats. We need to shrink government first then a lot the savings toward the deficit. After that is done, we could consider raising taxes. It's just like the border. Give amnesty first then we'll secure the border. The latter never happens. I've seen their tricks!
Good thought. So far... We gotta raise taxes! Tax the rich! No, tax the poor! No, it's the interest! If Congress doesn't stop spending skin 'em alive! Lol, I almost agree with that last idea. I agree. Assuming that's the answer, how do we fix this huge debt mess if we can't pay it off? Perhaps a better place to start is asking, 'Have other countries been in this same situation?' The answer is yes. So it's asking, 'What did they do to successfully resolve their debt mess?' The video below explains basic economic principles in plain English, what causes inflation and why it creates debt. Resolving England's debt is mentioned (15:30), how Germany resolved their debt (18:01) and how Japan did the same (25:03). 9/10 FULL "Free to Choose" - Volume 9 How to Cure Inflation - Milton Friedman (1980) Uploaded Jan 29, 2012 57:50 However, that's NOT the whole story. The US gov't can do nothing substantive about inflation and, as a result, cannot resolve the debt. That money in your pocket is printed and regulated by a privately held, for profit banking corporation: The Federal Reserve Bank. The gov't borrows from the Fed and pays it back at an interest rate set by the Fed. Neither Congress nor the president have a legal say in what the Fed does. Worse, the Fed is an integral part of an international banking cartel referred to as the Central Bank. The gov't gave away its financial sovereignty in 1913 and over the decades that stupidity has inescapably come home to roost. What, how and why are explained below. FIAT EMPIRE - Why the Federal Reserve Violates the U.S. Constitution Aug 16, 2011 (repost of 'Fiat Empire' from 2007) 58:53
Its not meant to be paid off like a car loan. The goal is to expand the economy which will reduce the Debt-GDP ratio to a manageable level. But with the division we have now, and more on the way, the two parties are more interested in sabotaging each other, then fixing anything. Torpedoing the border bill is a prime example.
What does that have to do with the issue? The gold standard is an outmoded solution to the problem of the government creating an excessive amount of money in the economy. The German Government went off of it, which was not the wrong thing to do. The trouble is the government issued way too much money which wrecked the monetary system.
They owed money to the winners in gold, they did not have enough gold. All they had were Dmarks which the French and English did not take in payment. While this was going on, the Dmark was becoming less valuable every day because outside of Germany, it was worthless. Hitler did the obvious, he told the winners of WW1, he was not going to pay them anymore. The Gold standard and the Versaille Treaty is what created the inflation. Look it up.
It will all change after the coming nuclear war. Gold will become worthless. The only things of value will be things you can eat, drink, shoot, or screw.
Problem, of course, is that IF we don't payoff the spending of one year it adds to the debt for the next and adds interest expense.
