Quote:
Originally Posted by Chaboo_Cleric
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Right now the interest rate on government bonds is so low in the USA that it makes sense to have budget deficits if the borrowed money is used to improve infrastructure and fund more research, because these things can add a lot of future value (e.g., DARPA--> Internet). Similarly, businesses often take loans to expand and modernize.
If interest rates are increased, the budget can be balanced by restoring marginal tax rates to what they were in the (Bill) Clinton administration. At those rates we were on the road to "surpluses as far as the eye can see" - and then GWB cut top marginal rates so as to produce large deficits again and make the rich richer and the poor poorer.
I personally have never felt over-taxed by the federal government. Sales taxes (up around 8% where I live) bother me more, but I can afford them too. Minor inefficiencies of government don't bother me much either. Having worked for a large company (GE) I know that to be inefficient is part of the human condition, and in for-profit companies there is always corruption as well.
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lmao... wtf....
'the assumption is made that the government owns you and controls 100% of your income. It then lets you keep a certain percentage if you follow their rules.' - RP