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Politics : Ask Michael Burke

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To: Dan who wrote (86562)	12/10/2000 3:02:42 PM
From: benwood	of 132070

Dan, that is a very interesting point about the interest paid on the debt primarily to ourselves. Then we'd pay tax on the interest, and since wealthier people are in T-bills, I'd guess the tax rate would be at least 28% on average. Would the combination of taxes on that interest and the depreciative effect of inflation on the real dollar value of the debt itself actually make the debt a wash situation, or something close to that? That would seem to be something for nothing, so it doesn't seem reasonable. Maybe the air getting let out at every corner would be the dilution to bankers? (what a terrible metaphor). --Ben

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