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The US government could tax the population at 100% of GDP and it wouldn't make a dent in the national debt. Also the US government can print it's own money.
by infamouscow 5y ago
The US government could tax the population at 100% of GDP and it wouldn't make a dent in the national debt. Also the US government can print it's own money.
- imtringued 5y ago>The US government could tax the population at 100% of GDP and it wouldn't make a dent in the national debt. Actually, it would cause the debt to GDP ratio to go up as taxable income shrinks. See Greece. Paying off debt while everyone and their dog is saving money like crazy is foolish.