>Unless they get a handle on things, after enough borrowing, the dollar will simply collapse. The poor will be hardest hit by this.
Yeah, we have historically low tax rates for the modern era. Raising taxes instead of lowering spending does the same thing to the balance sheet
>4. Any entitlement programs reduces the incentive to work and become self-sufficient. As much as this makes you cringe, it is true nevertheless.
This isn't necessarily true. Having the ability to eat reliably is quite useful when shifts may be irregular. This allows you to take higher paying, but more irregular work, providing a more dynamic labor force. This reason alone makes me suspect basic income instead of SS and SSDI and welfare and wic and foodstamps may be a good model for the 21st century.
> Yeah, we have historically low tax rates for the modern era.
This is false. The charts frequently used to support this all conveniently exclude the 19th century.
Yeah, after socialism became a fad, we began to tax the living daylights out of anything that moved and had money. Go back to the 19th century and you'll see a different story.
Yeah, we have historically low tax rates for the modern era. Raising taxes instead of lowering spending does the same thing to the balance sheet
>4. Any entitlement programs reduces the incentive to work and become self-sufficient. As much as this makes you cringe, it is true nevertheless.
This isn't necessarily true. Having the ability to eat reliably is quite useful when shifts may be irregular. This allows you to take higher paying, but more irregular work, providing a more dynamic labor force. This reason alone makes me suspect basic income instead of SS and SSDI and welfare and wic and foodstamps may be a good model for the 21st century.