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To: AC Flyer who wrote (15362)	2/21/2002 9:41:39 PM
From: Maurice Winn	Respond to of 74559

ACF the reason debt is not only essential but ethical is that in democracies, taxes are taken by one set of voters for their purposes. It's a tragedy of the commons issue. Because everyone owns the taxpayers, but not everyone owns the money taken from the taxpayers [it goes to those who elect the politicians], people have to grab it before others do. So, when politicians are elected, they have to get their paws on everything that moves and get it into their voters' and their own pockets before the next election comes around. If they don't get it, they'll leave it for the next lot. Therefore, it all has to be spent flat out. Therefore, it is wise to leave NO spare money hanging around anywhere in the commons. A reason why debt is good is that taxpayers yesterday [like 50 years ago and more] built roads, railways, hospitals, airports, rafts of government institutions, stocks of gold and multibillions in assets. Those taxpayers start dying [statistically] the day after they pay their taxes. So, they never get to enjoy the fruits of their labours. Therefore, it's better to fund developments by debt. If politicians are loaded to the gunwales with debt, not only can they not waste money lying around in the commons now, they can't borrow from future taxpayers to pay out their interests now. So, it is most sensible and ethical to load governments up with debt. It would be better to fund and appoint governments differently, but while democracy and kleptocracy are the way things are run, debt is a good idea! People forget the value of things to people today which were created in the past from common effort. Patents for example, which have expired, are a common good. Writing and language are a common good, invented in the depths of time. Huge value has been created over the centuries and especially the 20th century and people are almost blithely unaware of what vast benefit they get from the efforts of those people who mostly were not paid for their creations - certainly not paid anywhere near the value of those creations. So, load up the debt. If the deadbeats in the future are going to get to enjoy the fruits of our labours and ancestors, then let them damn well pay. Lazy bastards!! Mq