I’ve been thinking lately. Is the US national debt really a concern. Who’s gonna come collect it from us...

for sure, the amount of money we spend every year paying the interest is getting out of hand, add the amount of money we spend on welfare(something 50% of the budget) and its getting to the point, where we're fucked

about the only thing that can save us is to create a new currency, the last time it happened the old currency lost about 90% of its value in a year. which would make it far easier to repay our debts

>Who’s gonna come collect it from us?
China needs their interest payments
The real problem with a ballooning national debt is that interest payments on that huge sum take up more and more of the budget
You can't just borrow more money to get rid of them unless you feel like defaulting on the national debt and crashing the world economy

It's like a credit card - keeping a balance isn't inherently bad, but it'll fuck you over long-term since you also owe 25% interest

I've thought about it a very long time user.
I think I figured it out. Read this.
tradingview.com/chart/XAUUSD/VzST4frx-Gold-reserves-measured-in-years-of-interest-on-debt/

Ask a question if you dont get it.

china only owns $1 trillion out of $22 trillion u retarded fuck. that's 4.5%

>which would make it far easier to repay our debts
that would also tank the trustworthiness of the US government, leading to higher interest rates on future debt that the government accumulates

>Is the US national debt really a concern.
This question will be answered to our life times. There is no way around it. Just look at the prediction how fast the debt will increase over the next ten years. And then the demographic winter is kicking in. It is going to be brutal.

This is good for bitcoin

You have discovered one of the greatest secrets in the world.

The debt doesn't matter because we will crush any nation who tries to collect.

Attached: Men_of_Iron.jpg (5356x3920, 3.28M)

its either that or default on our debt, which would be noticeably worse. we're fucked and about the only thing that could save us is cutting welfare or reducing the federal govt by half.
there's no chance any of those are going to happen, the president has the power to create a new currency without the approval of congress. its literally our only hope

>The debt doesn't matter
Interest payments do. If we could balance the budget now, debt wouldn't be an issue, however running a deficit year after year is bad news. Unfortunately, Trump has increased the deficit over 60% since becoming president.
pgpf.org/blog/2018/11/we-will-soon-be-spending-more-on-national-debt-interest-than-on-these-vital-programs

It doesn't matter

It would be much easier to simply raise taxes on the wealthy (500k+ per annum) and cut military spending and corporate subsidies.
Capital gains need to be taxed at the same rate as labor income. I would also suggest a wealth tax (maybe 1% p.a.) and crackdowns on business expense deductions over a certain amount.

your a fool, there aren't enough rich people to tax. military spending can be cut, but with china becoming a world power if we cut defense spending below 600billion we're giving the world to them.
all the business taxes your proposes will do one thing, cause business to flee to other countries, why do you think businesses are coming back the to the US? its not from high taxes... and having jobs is way more important than high taxes

the point of the federal reserve system was to eventually destroy any nation that's using it so that a world currency can be introduced and any concept of sovereignty goes right out the window since everyone was in debt

>your a fool, there aren't enough rich people to tax

oy vey good soiyim don't tax my precious beloved billionaire masters

The debt is mostly owed to ourselves. Only a relatively small percentage is held by foreigners. "Defaulting" on the debt basically means not being able to fund social security/Medicare/defense spending. As long as you're alright with that, the debt doesn't really matter.

a literal leaf. but in all seriousness we don't live in a closed market, you raise taxes, businesses and people leave. its that simple

>your a fool, there aren't enough rich people to tax.
the US has the largest super-wealthy tax base of any country. I believe about half of all tax revenue currently is drawn from the top 1% of earners, who pay a very low effective rate on average.
tax avoidance is a non-issue since the US is one of two countries worldwide that tax all citizens' income regardless of residence.

>businesses and people leave
I'm not talking about corporate taxes, I'm talking about personal income tax.
As I've mentioned, US citizens are taxed on all income no matter where they live. When I was a UK resident, I still had to file tax returns in America.

>"Defaulting" on the debt basically means not being able to fund social security/Medicare/defense spending.
That's not entirely what it means.
Defaulting on our debt means the value of US government bonds goes to zero. This would instantly crash the world economy.

>thinking people will keep they're citizenship when taxed at 70%
nah bro they'll have no problem abandoning the US like an urban guy running from a pregnant woman

yep, the US currency will continue to get btfo with inflation and interest payments + socialism in 2020 as bitcoin chugs along absorbing capital

>but what can you do?

Attached: hitler-portrait.jpg (748x1080, 119K)

if you knew what the debt is you'd freak out if
you could comprehend it. it doesn't freak you
out like a chicken isn't freaked out by a butcher.

then they become citizens of other countries. im not against raising taxes btw. It just wont do a damn thing if we turn around and spend it.

Denouncing citizenship involves large exit taxes on your whole estate.
You could avoid that tax, sure, but you'd have to live out your days in countries that have no extradition treaty with the US.

>then they become citizens of other countries.
Dual citizens are also taxed on all income by the US government. You have to actually go to an embassy and denounce your citizenship, which has the caveats described above.