Reply To: Chesed: Forcing the rich to pay for the poor

Home Forums Decaffeinated Coffee Chesed: Forcing the rich to pay for the poor Reply To: Chesed: Forcing the rich to pay for the poor

#1969829
emes nisht sheker
Participant

It is an irrelevant question, because paying down the full debt would probably create an economic collapse. This is a very complex issue. I think the best approach would be to limit the expansion of the debt so that Nominal GDP can grow relative to it, which may help avoid the disruptive nature of paying back substantial debt or having the debt spiral out of control, but in order to limit the growth of the debt, without destroying demand in this country, I think you need much of the money to come from those who are net savers (i.e. the wealthy). You would also want some inflation to boost nominal GDP but you need interest rates low, which creates other issues, so really a very complex issue.

Bottom line, I see the end goal as ensuring the smooth continuation of this country and avoiding the risks to property and life that come with a major economic collapse. If it means taxing the rich some more, then so be it. The idealistic arguments about entitlement to wealth are irrelevant if the result of that is massive disruption to society that risks your very lives.