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Politics : View from the Center and Left
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To: Hugh Bett who wrote (475123)6/21/2021 10:46:37 AM
From: Cautious_Optimist  Read Replies (1) of 542109
 
The massive dept is from massive over spending.

I think you meant debt, not dept.

There is spending that has an ROI and of course there is some waste; often landing in corporate and white collar accounts BTW. Using the propaganda of "free markets" to extract public money from strategically corrupted representatives and regulators (taxpayers). The massive debt is hugely from a tax system that is FUBARED by political maneuvering.

Trickle-down failed (again) under Trumpism and the data is available.

Trickle UP is reality; consumers WHO SPEND to live need money and sustaining pay to make the whole economy prosper including those at the top who brought VALUE to private markets. When people spend and do not carry too much debt everyone is lifted.

When privileged people inherit too much money the result is suboptimized education and incentive for the next generation to solve problems and improve life impersonally. As well as expensive social waste. The modern economic system shoots itself.
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