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I think GDP/economic output/labor productivity continues to rise briskly. The government accounts are in debt because people in the US refuse to consistently vo
by lanstin 2y ago
I think GDP/economic output/labor productivity continues to rise briskly. The government accounts are in debt because people in the US refuse to consistently vote for [people advocating] high enough taxes. But we could tax more (still less than Europe) and get balanced budget.
- scarab92 2y agoHigher taxes do genuinely restrict economic growth, so it's not like raising taxes is a magic bullet. Personally, I think there is plenty of grift and wasteful expenditure we could look at addressing first, especially within the healthcare and defense portfolios.
- lanstin 2y agoNot as much as having insufficient resources dedicated to the education of the young hurts economic growth (long term). I agree not using the world proven efficient healthcare strategy of universal coverage is pretty stupid economically, as is spending a trillion USD per annum on the military. But we are so rich these mistakes can be absorbed for surprisingly long.