5 ms·

Not being able to pay your outgoings is the definition of insolvency, friend. On the other hand, the government is not quite a 'corporation,' and isn't entirel

by shelf 14y ago

Not being able to pay your outgoings is the definition of insolvency, friend. On the other hand, the government is not quite a 'corporation,' and isn't entirely subject to those kinds of notions, is it?

nknight 14y ago
> Not being able to pay your outgoings is the definition of insolvency, friend. Didn't say it wasn't. Try not randomly reshuffling the words. You'll get a much clearer picture of what I actually said.
- shelf 14y ago
  Only paying part of your outgoings is considered 'not paying,' or grounds for a default, typically? So that 'meme' is pretty much factual reality, if your statistics are correct? disclosure: non-American with no knowledge of your welfare scheme
  - lolcraft 14y ago
    Not being able to pay something twenty years from now given current income is much different than defaulting. Specially given historically low tax rates and an economic depression, and a spenditure that has mostly not been made yet.
    - shelf 14y ago
      I agree, but that doesn't seem particularly relevant. The system in question would generate significant revenue shortfall if that fellow's comments are accurate. Typically in public policy we make plans for these kinds of scenarios, instead of just assuming that Future Murika will have a tax base robust enough to pilfer from and a political scenario permitting us to actually legislate. On the other hand, that strategy is working fine for Twitter...
  - nknight 14y ago
    Look very closely at what I actually said. The meme I speak of is not "insolvency" generally, but insolvency due to a specific cause. > disclosure: non-American Which may explain why you're not familiar with the particulars of the meme I refer to, but does not excuse randomly shuffling my words. > with no knowledge of your welfare scheme Social Security is not a "welfare scheme", it is a government-administered pension program. Everyone who has paid into the system, from the very poor to Bill Gates and Warren Buffet, is entitled to benefits at retirement in proportion to their contributions.

by shelf 14y ago

nknight 14y ago

> Not being able to pay your outgoings is the definition of insolvency, friend. Didn't say it wasn't. Try not randomly reshuffling the words. You'll get a much clearer picture of what I actually said.

shelf 14y ago
Only paying part of your outgoings is considered 'not paying,' or grounds for a default, typically? So that 'meme' is pretty much factual reality, if your statistics are correct? disclosure: non-American with no knowledge of your welfare scheme
- lolcraft 14y ago
  Not being able to pay something twenty years from now given current income is much different than defaulting. Specially given historically low tax rates and an economic depression, and a spenditure that has mostly not been made yet.
  - shelf 14y ago
    I agree, but that doesn't seem particularly relevant. The system in question would generate significant revenue shortfall if that fellow's comments are accurate. Typically in public policy we make plans for these kinds of scenarios, instead of just assuming that Future Murika will have a tax base robust enough to pilfer from and a political scenario permitting us to actually legislate. On the other hand, that strategy is working fine for Twitter...
- nknight 14y ago
  Look very closely at what I actually said. The meme I speak of is not "insolvency" generally, but insolvency due to a specific cause. > disclosure: non-American Which may explain why you're not familiar with the particulars of the meme I refer to, but does not excuse randomly shuffling my words. > with no knowledge of your welfare scheme Social Security is not a "welfare scheme", it is a government-administered pension program. Everyone who has paid into the system, from the very poor to Bill Gates and Warren Buffet, is entitled to benefits at retirement in proportion to their contributions.