The debt is so large currently that if the entire wealth of the upper 50% of income earners were confiscated and applied to the national debt the debt still could not be paid. The 20th century is littered with the carcasses of nations who tried this approach and failed. It is a shame we don’t have the old Soviet Union around to hold up to millenials as an example of failure. Must the United States become the next botched experiment?
Soaking the rich in a liberal socialist way is certainly not the solution and it does have unintended consequences.
A solution becomes less probable as fewer people carry the greater burden. First, with more people receiving federal dollars, there is slim chance anyone will voluntarily relinquish their “take.” Second, it is foolish to think Congress will voluntarily give up the most powerful tool they possess – the power to dole out money to constituents and districts thus giving them the power to influence votes.
As fewer and fewer people carry more and more of he burden, reality will force a correction. Those few who carry the greatest burden will eventually manage to escape. The rest will have to suffer through the correction. Even now demographics argue that a reality check will come sooner than later.
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