It doesn’t work that way.

You can’t blame it all on the pandemic? And yet, no one seems to care.

From the Debt Clock

Surveys asking Americans what they support pretty much comes down to “more” without regard to how or if “more“ of anything will be paid for. A number of politicians seem to think it doesn’t matter anyway.

Sen Sanders rants on Twitter that the “richest country in the history of the world“ should be able to provide free …… and yet we can’t even pay the bills, or more accurately ask Americans to pay for what they want more of. That’s the fault of cowardly politicians like the far left who tell half a story.

If Americans want more social programs like the often cited examples of Scandinavia and other European countries, then they need to accept that lifestyle which includes high income taxes, 22% +- value added taxes (VAT), higher payroll taxes, high gasoline taxes (and small cars) and assorted other targeted fees and taxes. In return they receive a lot of “free” stuff.

Americans don’t even want higher gas taxes to maintain roads and infrastructure, they don’t want higher taxes to received higher retirement income.

Many Americans believe politicians who promise to take more taxes only from the “wealthy” 🔹 to give to everyone else. Nowhere in the world does it work like that.

🔹 Defined depending on who is being promised what at a given time.

NOTE: You may see data that show US debt ratio around 107%. That’s because the IMF defines public-sector debt to include debt held by central banks. The U.S. tracks debt held by the public.

12 comments

  1. I wouldn’t actually mind paying more in gas taxes for road maintenance if they actually used it for road maintenance instead of bicycle lanes that use lanes formerly used (and paid for) by car drivers, homeless transport systems (also called light rail) and various other non road related projects.

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    1. How else could republican politicians get elected if they didn’t promise lower taxes?

      The truth is that both parties are guilty. The Dems do not tell us how we will pay for their handouts, and the Reps do not tell us what services we will no longer get because we cannot afford them.

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      1. Very true and neither party discloses real long term costs or is willing to explain those costs in terms of taxes. AND, IN ANY CASE THE VOTERS RATHER NOT HEAR THE TRUTH.

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      2. Guess we agree then, Mik. I was just pointing out that neither party is willing to tell voters that services cost money. As Richard says, ..neither party discloses real long term costs or is willing to explain those costs in terms of taxes. AND, IN ANY CASE THE VOTERS RATHER NOT HEAR THE TRUTH.”

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      3. “The Dems do not tell us how we will pay for their handouts, ,,,” And what is this amount? What awful secret are we Dens keeping secret? How do you know?

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      4. “What awful secret are we Dens keeping secret? How do you know?” Well, to start with, “we Dems” (I am one, too) have just passed a massive stimulus bill. I have not read the details, but I do not remember any news reports that tell us how this will be paid for. An article in Fortune says that for a 25 year old, the bill will “..saddle you and your spouse with almost $150,000 in federal debt when you reach 35 in 2031.” This is an important bill, but I would like to think that our politicians would have the courage to tell the voters the whole story about finances. This is not an “us vs them” issue. Both parties are guilty, and it is important for politicians on both sides to recognize and admit the downsides of their proposed policies, or there is no hope for consensus.

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      5. You may think that the Fortune article estimates how much we will pay (which I asked about), but please reconsider.

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  2. If the US GDP was consider its assets, we would be liquidated at our ratio of debt to GDP. The Scandinavian countries have a GDP debt ratio of between 36 to 52%. Western Europe is not doing too well, but all have debt ratios less than 100 except for Italy at 133%. Anybody remember what Greece went through a decade ago when they cut benefits to their retirees? Greece is still at 174% The day that the world stops buying our debt, our world will crash. It doesn’t have to be that way.

    Liked by 1 person

  3. If you want to be like Europe will need an average 40% tax rate like most Europeans pay. To support our military on top of social welfare programs we want will probably need a 50% tax rate or greater

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    1. May that is why NATO had the US fund their military until Trump demanded that they actually start paying their “fair” share as outlined in the NATO treaties.

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