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by GrinningFool 2136 days ago
> Easy Congress put on bandannas and robbed the tax payers of about $18,000 each.

I think you're under the mistaken impression that the debt incurred by the aid packages will somehow get repaid.

2 comments

The US doesn't have a history of defaulting on its sovereign debt, and I haven't heard any serious claims that that is going to change anytime soon. In fact, its a great time for the government to take on debt, since even very long term debt costs less than inflation - 30 year debt is 1.4%, and 10 year debt is <0.7%: https://www.treasury.gov/resource-center/data-chart-center/i...
Historically the US debt balance has gone up for longer and by higher amounts than it goes down. I don't see how this pattern leads to a zero balance in the future?
Whether it gets repaid or not has no bearing on the fact that taxpayers were robbed and their future taxes were used in large part to prop up an historically overvalued stock market completely detached from traditional P/E ratios.

Plus the working class will be made to suffer as their measly incomes, taxed at significantly higher rates than capital gains, will be worth even less due to devaluation of the dollar and inflation.