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>take into account the sorry state of public services, which tax money is meant to support. It's a chicken-and-egg problem, I would argue it's not a chicken/eg
by giarc 7y ago
>take into account the sorry state of public services, which tax money is meant to support. It's a chicken-and-egg problem,
I would argue it's not a chicken/egg problem, the money has to come before the public services. The government isn't going to borrow a ton of money to improve services on the off chance that it's citizens will voluntarily start to pay taxes at a proper rate.
- asdfasgasdgasdg 7y agoInterestingly enough, they probably could. Their most recent bond yields were negative, very different from days not so long ago when their yields would be above 20%. However, I'm not sure if they have agreements with the ECB that might prevent them from issuing more debt.