4 ms·
Your statement applies to the entirety of the developed world, not only the United States. Please don't tell me that countries like Japan, Germany and France do
by glimshe 3y ago
Your statement applies to the entirety of the developed world, not only the United States. Please don't tell me that countries like Japan, Germany and France don't get the same sort of subsidy. No matter where you live, it's the poor that bear the cost of deficit spending, which is a worldwide problem.
In poor countries, as you pointed out, deficit spending is a more acute problem, usually felt through currency collapse that mainly hurts the largely poor population.
- Zufriedenheit 3y agoGermany actually has the second highest tax rates of the developed world. [1] Also it is written in our constitution that the budget has to be balanced except in extreme cases like pandemic, natural disaster or war. Our problem is that companies are leaving because of high tax and energy costs. [1] https://de.statista.com/statistik/daten/studie/185987/umfrage/steuer-und-sozialabgaben-nach-laendern/ https://de.statista.com/statistik/daten/studie/185987/umfrag...
- bobthepanda 3y agoAlso at this point the drag on infrastructure investment is starting to hurt the German economy.
- glimshe 3y agoThe stability you describe is relatively recent, the country has catapulted itself to development through deficit spending, and today still has a debt-to-GDP of ~66%. This isn't bad but still is a big subsidy partially financed by poorer countries. Germany, in particular, has been extensively accused by less developed EU partners of unfairly benefitting from the single currency.