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by ahallock
1617 days ago
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The taxes aren't just. The state blows trillions on wars, foreign aid, etc so I think there's a spending problem. Maybe if they could reign their spending, we could let people keep more of their money. Instead people take out loans and go into debt to keep up. And then we tell them to be austere (no smart phone for you, skip the coffee, etc) while the state spends with wild abandon. |
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Entitlement costs already dwarf defense spending, and it's going to get a lot more dramatic over the next 20 years.
Entitlement costs aka the people getting money.
> Instead people take out loans and go into debt to keep up
Well that certainly depends on who you're talking about. US households at the median and above are in decent debt shape, including debt interest expenses in relation to household disposable income. The payday loan context trap for the working poor is still every bit as bad as it has ever been.
The biggest household financial threat right now are real consumer prices - including rent/housing, education, energy - rising considerably faster than wages.