Comment on Do it for your country's debt!
sahin@lemmy.world 9 hours agoThis debt is not important dude. You can pay any debt that is taken with your own money. You just cant pay if your debt is in other types, like gold silver or other currencies.
They created this system intentionally, so that they wont tax the rich and they make us poorer by printing money, and they have an excuse for stupid things.
The only problem with paying this debt, is people starts to distrust us dollar around the world, which is what they should do.
I checked, and 100% of the debt is in USD. So, the govn can pay it right away.
huppakee@piefed.social 5 hours ago
No offense but i think you should learn a bit about more about economics, specifically about how currency works. Long story short, if a currency loses a lot of value in comparison to other currencies, the ‘local’ system collapses. So the very important task of a government (or its central bank really) is to keep it’s relative value high (not too high, but that’s a story for another day. The us gov (or the Federal Reserve in this case) would fail very very hard if they would decide to create 38 trillion usd. It is especially problematic considering the financial problems that it would cause are on top of all the other shit that’s going on.
sahin@lemmy.world 4 hours ago
Yes I agree. It wouldnt be problem-free. What I mean is, you can pay the debt, if your debt was in another currency, you might be in a position that you just cant pay the debt.
Firstly the debt is for a long time. The debt until the next year is 10 trillion. You can pay this debt with wealth taxes if you dont want to print more money. Secondly, USA has to produce. It stopped producing good tech, China nowadays owns every tech production. If it earns money, it can pay this debt.
Thirdly, most of the debt is domestic and to the rich. You can just stop paying this. You are the government dude, you are taxing people’s labor, you are taxing every transaction, most countries have stamp tax that doesnt even exist, you can oc tax this money too, and sometimes governments do this.
We have to tax the rich, even if we paid all the debt, we still have to tax the rich. This is required for justice, this is required for people to love their country, this is required to stop poverty, homelessness. When we have a just society people are going to help their country willingly. But currently, some people are killing others, raping bribing, doing anything and we can do nothing about it, while being hungry.