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Charity is not a replacement for a functioning government. Assuming you're in the US, it's hard to argue that you're not paying far less than you should be, gi

Charity is not a replacement for a functioning government. Assuming you're in the US, it's hard to argue that you're not paying far less than you should be, given how quickly we're running up the deficit. I'm of the opinion that we should have a constitutional amendment which limits debt to gdp to 80%. If the CBO indicates we will breach that, congress has 8 years to get it back under control before the CBO has the authority to ban officials from public office if it's determined they voted in favor of the legislation responsible for the breach. No doubt there are problems around that. Someone smarter than me can fill in the holes.

neilwilson 1y ago
There’s a big problem with that. The “deficit” is just the liquid financial savings of the private sector. The correct approach is to require all those people worried about the “Debt” to hand over any liquid savings they have in bank accounts or retirement funds. Since that is what is causing it by accounting identity. After all if they consider it to be such a problem they should put their money where their mouth is. Read The Deficit Myth by Stephanie Kelton to understand how the system actually works. Amusingly a larger deficit means government has more space to spend, not less. People saving means they are not spending which means resources are left underemployed. Debt to GDP is not a relevant concern in a free floating currency has Japan has demonstrated for decades.