Exactly the USA government taking out debt on each and every citizen without their approval is fraud. The citizens should bring up a class action against the republic.
We could use Warren Buffets suggestion … every time the Congress approves a spending bill which exceeds GDP plus 3%, every Congressman who voted in favor of the bill is ineligible for re-election.
Deficit spending is appropriate during financial crises or pandemics. It keeps people form suffering terrible poverty during such crises. What is not appropriate, in my opinion, in an ongoing structural (full employment) budget deficit.
@ the problem with allowing “emergency” spending is that the government will deliberately create emergency after emergency to continue to exceed budgetary constraints. Thus making those constraints irrelevant.
Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
the fact that the USA is now robbing it's allies of their resources and still collapsing says alot, You have some fantastic content on your channel. At 53 years old, my wife and I achieved a net worth of $1 million back in 2017. Fast forward five years, and it has grown to $2.4 million. Despite our combined annual salary of just over $100,000, we have adopted a frugal lifestyle. We continue to drive older cars, prepare meals at home, and make use of leftovers. Additionally, we have two children currently in college. Fortunately, we had saved for their college expenses, and they are contributing by working part-time. As a result, they will graduate without any student debt.
Right there with you. I'm retiring early, no debt. Kids are taken care of. Building my dream home on 11 acres, looking over the river valley. there are loads of ways to make a killing right now, but such high-volume near impeccable tradess can only be carried out by real-time experts.
Same here , always spend less than what I was earning ,got some boring shares who rose less than some but without the drama now I still spend less than what I earn and feel sorry for people who assumed the fairy tales were real and government were looking after them
Our money IS debt. With no debt there would be no money. We could switch to SOUND MONEY that is issued by the treasury under the direction of the congress as stated in the consttitution. Federal Reserve act of 1913 needs to be abolished.
Why was the fed created? Because short sighted politicians in control created recessions like voting cycles…. money is a fugazzi …from seashells to rocks to tulips to shiny metals…its value is an illusion we created to enable commerce…and markets...
The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
Gold might crash in a liquidity crunch, but many precious metal holders are prepared for this and unlikely to be forced sellers. The paper market would tank and possibly collapse. Hearing from an experienced investor who has overcome adversity is motivating. It can be scary when your portfolio turns red, but if you've invested in strong companies, stick to your goals and continue growing them
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Sanctions weaponized Dollar weaponized Media weaponized Energy weaponized Swift weaponized Reserve currency...why the F should any country want to have anything to do with the Dollar?
@@andrewhill1251 Thank you for the reply. Didn't think of that. However, wouldn't the end result be the same? way higher inflation in the USA & loss of purchasing power?
@@JANAVEL1655 World reserve currency status isn't as valuable as world reserve asset status. But you're right, in the end we're headed toward inflation, first in assets and then in consumer prices.
6:18 they don’t treat the SS funds as trust fund money. Those funds are literally spent on everything… and govt took loans against those funds decades ago they never repaid. So that’s that.
I retired at 65 but waited till 68.5 years old to apply for social. For me, it was the right decision, because of the following: 1 - I'm in great health, fortunately. I guess a lifetime of healthy food and lots of exercising has helped with that. 2 -Good nightly sleep is critical to staying healthy. So, I wanted the social security to pay all the usual monthly expenses. That works great for me, since I'm frugal, so I don't carry debt. Low stress, better sleep. So, file later if low financial stress is something you do want in retirement. I am taking additional steps. I'll be leaving the US and moving my retirement to a less expensive country. That should help even more.
Moving to another place to retire is a great idea, and I will be doing that as well. For us, the SS will remain fully funded, for no politicians will risk their own re-election by touching so many voters' SS. After a few decades, I'm not so sure, but I also won't be around to worry about it.
Democrats believe that government programs help people pay for education, health care and to pay for national defense and infrastructure. Republicans believe many of these expenditures are not needed or excessive. So Republicans want to lower taxes so that we don't waste money and let people keep more of their paychecks. Democrats want to help people by spending and would rather collect more in taxes to pay for it. One side wants to lower taxes and the other wants to raise spending. So we will always have this tension and difficulty trying to eliminate the structural (full employment) deficit. Thus the national debt will continue to grow unless Congress makes some hard choices.
Azul tells us, "There's a lot of talk about Social Security...and rightly so." I say "and wrongly so". SS did not cause the problem of size $36 trillion. The USA's criminal foreign and military aggression did. These expenditures were made not to promote democracy worldwide, as our Presidents have told us. Rather they were the the flow of the wealth pump our leaders ran to take money from middle-class in the form of taxes and to give it to the class of corporate and individual wealth, our military-industrial complex - as Pres Eisenhower called it and warned us. The talk should be about the imperial and military wealth pump, but it is not. Why not! Because the people who do the talking, the media, are owned by those who receive the pump's output! The large expenditure of Social Security payments is for a good purpose, help for the aging in the USA. It is not for stealing other people's land and resources by military force and killing millions of people on almost every continent; it is not for toppling governments that try to remain free of Washington's domination; it is not for aiding war criminals, such as Benjamin Netanyahu and being an accomplice to his crimes. The USA is in decline in world influence, because our rulers are so greedy that they are blind to the harm they are doing to their own country!
The situation is much worse. Over HALF of the adults in America today pay ZERO federal income tax. An additional 22 percent of the population are children. That means currently three quarters of the people in the United States are free riders who are mooching off the taxpayers and paying nothing to run, maintain and protect our country. The federal and state governments are being paid for through increasing debt and an ever shrinking pool of taxpayers. That math doesn't work for very long.
@@AmauryJacquot No, but I can do basic math. Seventy five percent of the people can't live off of the struggling twenty five percent of the population who are paying for everything. We have too many people in the wagon and not enough people pulling the wagon.
A big reason for people not paying taxes is the lack of people being hired by employers. You would think in a first world capitalist economy everyone should be able to obtain employment at any time, that’s not the case despite what you hear on the news.
@thomasboissy3560 well to be fair it's been a constant trend for 40 years where we alternate between a republican administration cutting taxes and a democrat (and often republican administration as well) expanding spending with the inevitable result that we are paying the lowest taxes in 100 years and the government is spending at record levels. The problem is that voters never want to make difficult choices, so they simply get what they vote for: the mirage of a free lunch.
Good job starting so young. I did not wake up til I was 40 and realized I had 30k in debt and was late on a mortgage pmt. Now at 53 I have a paid off house and a net worth right at 900k. Just wish I started sooner
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Carol Vivian Constable for years and highly recommend her. Look her up to see if she meets your criteria.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Paul Ryan proposed a plan to reduce the debt over 8 years and was vilified, dismissed, and eventually not re-elected. Problem is human nature, especially in the U.S., when people are given gifts long enough, they eventually see it as their right to have this gift and will fight to keep it. It's essentially impossible to take benefits back so nothing will change
The US will inflate away its debt away. This is why you move away from the US dollar and into Bitcoin, real estate , and other hard assets. Sticky inflation is inevitable. Government will never spend less and they are trying to inflate our money at at least 2%. Debt will continue to explode.
Inflation also eats into the value of real assets. The land is still the same, but the value in inflated dollars cuts deeply into the preservation of capital. The costs to maintain real property, as well as property taxes, continue to rise with inflation, while capital gains taxes will take a big chunk through inflated land values.
Unless the right wing Wall Streeters are in power. Then they will spend billions funding Raytheon and talk about how great our economy is. Then when democrats are in power fixing a few things, t The financial slick talkers will have this here conversation and appeal to the petty bourgeoisie who are so easily manipulated. “ I love the uneducated “
🤣 Your full share is 95% One, two- (One, two, three, four!) Let me tell you how it will be There's one for you, nineteen for me 'Cause I'm the taxman Yeah, I'm the taxman Should five percent appear too small Be thankful, I don't take it all 'Cause I'm the taxman Yeah, I'm the taxman (If you drive a car, car) I'll tax the street (If you try to sit, sit) I'll tax your seat (If you get too cold, cold) I'll tax the heat (If you take a walk, walk) I'll tax your feet Taxman!
@@ParisianThinker Every politician that created the debt needs to have their wealth confiscated. They lined their pockets at our expense. Most would label that as fraud.
Income taxes on the wealthy are much less than they were in 1981. Productivity and wages separated precipitously since 1981. Income from taxes of corporations is much less today than they contributed before 1981. The third-party medical insurers suck 30 -50% of the Health Care dollars spent in the US, yet the US won't change its system. We are the only wealthy country in the world that does not have a National Health Care system. We are only as lucky as we are because of our World Currency status. How do we fix it? Tax the Wealthy and Corporations much more. They are the reason for the deficit. Change how healthcare dollars are spent.
@@johannesswillery7855 Yes. Not enough to pay off the National Debt, but to drastically reduce the deficit, (the difference between what the US spends and what it takes in). Don't forget Corporate tax revenue and reduction of 30 to 50% of healthcare dollars spent.
@@DrDRE4391 The only way we will get healthcare costs down is to get seed oils, preservatives and ultra processed foods out of our diets. RFK Jr is talking about it.....
Raising taxes is not gonna fix it, the government will just spend the extra money. Look up the Graham Rudman act, was supposed to ensure a balanced budget by law. You see how that worked out!
True, but U.S. won't be able to export its inflation any more. First U.S. assets will inflate and then consumer prices will follow. It will be a disaster for those without assets. Pitchforks!
@@bryantjenks3598 The Fed needs a strong dollar to keep inflation down. But the wise will keep an inflation hedge, like a rental home, available in America, just in case.
@bryantjenks3598 you shouldn't keep all your assets in any currency. Most advisors encourage you to invest at least 20% overseas for diversification and too help with currency fluctuations. People have been predicting the dollars fall for many years. It might happen, but I wouldn't be assuming it. India just came out this week saying despite being part of Brics, they still want to do foreign transactions in dollars and are not on board with Russia/China in moving off the dollar as the world's currency.
Yes, the petty bourgeois, the farmers and small business owners who receive much lip service from the right and are the most easily manipulated by fascists. “Look what they are doing to you” “you won’t have a country if you don’t fight like hell”
Which is why I think corporate tax should be zero. But then we need to change how we tax capital gains so that it is taxed exactly the same as earned income. There are loopholes where hedge funds make massive profits and no one pays any taxes on their investments. However, with a zero corporate tax rate I would implement a national sales tax, so that corporate buyouts and mergers would cost real money as they reduce competition and shield the corporation from paying any taxes. The national sales tax would apply to luxury goods and certain services as well as corporations trying to transfer money overseas or spent on stock buybacks, mergers and the like. Bill Gates can buy farmland but then Bill Gates would be subject to sales taxes on that purchase, where as now that money is shielded in tax loopholes and allows for massive amounts wealth to avoid any taxes.
The debt does not actually exist with a body for it to be paid back to. The money was printed with nothing behind it. It was INVENTED by plucking out of nothing, the interest is actually real, but to the central banks. The actual cost was absorbed in the labour of workers and at the same time the DEVALUATION of the dollar from 100% and now down to 6%. Next year 1% of the 1933 values. Gold has stayed the same value and you can see the dollar value against it. Defence spending is the major cost as it is to hold the world to blackmail with violent threats and hegemony. The world will not stand for it anymore.
The BRICS meeting in Kazan last week revealed the whole future; 36 countries heads of state, the head of the UN, all tired of being bullied by the US economically or militarily. The US begins to look morally bankrupt as they support actual genocide on live tv, and actually bankrupt with 35 trillion in dept in a currency that is losing value every day.
Do you live on Mars. Federal reserve if America is a private entity owned by few Rich and powerful families. More money Fed prints for US government, more interest is being paid to the private families. Soon US interest payments will reach to 1 trillion USD a year, 20% of income of USA government or more than the budget of US army
Defense spending is only 12% of the U.S. budget, and is at the lowest share in decades. The main drivers of deficit spending are SS, Medicare, Medicaid, and Obamacare.
Agreed. But it does distribute that tax to the people that use those goods and services rather than everybody. And for any goods sold to foreign countries or citizens that passed through tax gets paid by them, not us.
@@pascalbruyere7108 you're kidding right? Corporate owners get to decide how to deal with a corporate tax. They can choose higher prices for customers, lower pay for employees, or fewer profits for themselves. Which do you think they will pick last?
no way will congress cut current social security benefits, too many voters, they will increase payroll taxes on those making more then 150-250K with no additional benefits to that group, they will get rid of the earnings limits (168K), they may increase the retirement age for those 25 years old or younger. They can can means test survivor/spousal benefits, there are many ways to fix the system
Means testing is horrible and should never be implemented. Think about two people who make the exact same amount every year. One buys new vehicles and fancy boats. The other saves money for retirement and lives below their means. Now they retire. One qualifies for SS but the other has saved to much money and no longer qualifies. In the end, one was rewarded for being financially irresponsible and the other is penalized for being responsible.
That is why gold price keeps going up. Other countries are not stupid and see that treasury bonds is worthless in the long term. So probably buying gold to insulate themselves.
The USA has been paying only on the interest and nothing towards the principle, insane. Even the banks tells us not do that. The USA spends more than what it makes. That need to stop.
Finally someone who articulates country total financial figures per capita. To me, no other expression makes sense. Even Balmer in his data series fails to do it. Thanks a lot! Wow, the debt curve colored for govt, is a gem. I found gold, your presentation is amazing
Not so fast, Azul, corporate rates were higher because of the war, but the amount actually paid by corporations was way lower. Conflating the tax rate to what they paid is not honest. Try again! The fundamental assumption that the debt can't be paid is false also. We have to stop spending and promote actual growth. A combination of both, surrendering to we can't pay the debt, is not the way.
Ridiculous! The government deficit is the private sector surplus! There is no reason to pay down the debt ever. The USA is the issuer of its own currency. They don't need to pay it back. Public debt is completely different to private debt! They are not the same thing.
We need to both raise taxes and cut spending. Raising taxes doesn't always translate to more government revenue either, but it changes patterns. When taxes were high from WWII - 1970s, companies re-invested a lot of money in R&D and we had some of the greatest public/private partnerships ever which drove the space and arms race with the Soviets. As a spin-off gave us many of the affordable technical luxuries we enjoy today. We need to unlock more of the dynastic wealth that is held by the 1% or even 0.1%.
Exactly. Watching videos like these from different content creators, they only talk about cutting spending. They don’t mention raising taxes on the wealthy. Cutting taxes on the wealthy since the 80s is the reason why the national debt has gotten so high in the first place. Just roll tax rates back to what they once were
This explanation leaves out the main problem with our economy - which is the monetary system. The Federal Reserve Act passed in 1913 put the whole problem with inflation and increasing debt in motion. It created a system of private banks who have the privilege of creating money every time they make a loan. That is the source of new money in the economy. The banks are charging interest on all the money in circulation. The government in essence allows the banks to create money and then borrows it back from them at interest. This is done despite the fact that Constitution in Article I Section 8 gives Congress the power and privilege of creating money. If you want to learn more look up the American Monetary Institute and the Alliance for Just Money.
@@pumasheen Indeed, but so what ? That's how it works, tax is but a name, you can take it at different point in the economy (e.g. companies, customers, workers). The worker paid tax money you refer to can indeed only come from/through where it is made, i.e. the companies, that get their money however through customers (partly being other workers, partly other companies) that pay these companies partly with thus circular money, and partly customer debts. But where did all the money originally and gradually come from ? From the federal reserve(s) that print the money, and supply it to the companies through investments loans, injected as debts into the economy. This injection is not even a circle, this money does not come back to the FedRes (only the interest comes back, earned by companies and customers, creating inflation/amount of money, injected again back into the economy), so debts (and interest and inflation) remain, even increase. Hence we live in a never ending debt economy since we left our caves, and started using money instead of exchanging physical products.
What about a discussion on potential revenue sources? Tax on flash trades, crypto, revising tax laws around private equity LBOs, taxes on moving jobs (and revenue sources) out of the US.....
THINK ABOUT IT, WHEN I FIRST BORROWED TO BUY A HOUSE, THE COST OF HOUSE WAS MORE THAN MY SALARY FOR 6 YEARS OR SO, BORROWED AMOUNT ITSELF IS LIKE MY 4 YEARS SALARY... TO BE PAID IN 10 YEARS, WHICH I DID IN SOMETHING LIKE 15 YEARS... PAYING DOWN A DEBT EQUIVALENT TO 4 YEARS EARNINGS IS NOT REALLAY DIFFICULT... BUT WHAT MAKES US DEBT DISPICABLE IS - IT IS DOING NOTHING MUCH FOR ECONOMY OR WELFARE OF PEOPLE, BUT GOING TO ENRISH LOBBIES, MAINLY THE MILITARY INDUSTRIAL COMPLEX, PHARMA MAFIA, AND OTHER LOBBIES
Another simple-minded view: the government is not like your household budget. The government has a printing press, and makes the laws and rules about how everything works. The government is simply missing an understanding of how to deal with debt and our currency. Running the country into massive debt was intentional to justify throwing Social Security away. This started with President Ronald Reagan. He said that we have to pay it back that is simply not true.
And don't forget supply-side / trickle-down economics started by Reagan - the idea that lowering taxes on the rich will ultimately generate higher tax revenue by growing the economy. It didn't work then, didn't work when others tried it, and it will never work. It's called voodoo economics for a reason. All it did, and continues to do, is give the rich an even larger share of the economic pie. Yet some people still think it's a good idea...
Great Video , thanks , im Australian so im giving this from an outsiders point of view . , what is alo important to consider is net debt. and that the US currency is a powerhouse currency , it is far more valuable than its face value . The US is owed 8 trillion by other countries so net dept. is far lower . consider ! About approximately 10 trillion was added to dept from Covid. 60% of the worlds reserves are in US currency. There are whole south american countries that internally only use US currency. 90% of all foreign trades are in US currencies , if i'm buying tractor parts from China they will not take Chinese yuan , they will only take US currency . So everyone needs US currency to trade . . The US currency is far more valuable than its face value .
Hi Azul, your spending data is 2022. This year, government interest payments are >> 1 bln USD i.e. twice the number you showed, and it is bigger than defence. The treasury now needs to raise new debt to pay interest. That is sick.
Thing is after WW2 we could get away with higher corporate tax because out competition was bombed. Now we can’t compete with high corporate tax . Not an option.
So if the government prints 10 million and then it uses this imaginary cash to build a bridge(as an example), the imaginary printed cash creates a real, and tangible assets for the country. In addition, the 10 million fundend are not locked in the actual bridge. The money goes to the workers who built the bridge, in turn, spend the cash for their living expenses. Just think, how small this country economy would be if these imaginary trillions did not make into the economy and produced tangible assets.
Very few people understand the masive significance of the realities of our debt denominated in our own currency. Even fewer realize the significance of our currency being the reserve currently.
What you didn’t point out is that inflation by printing money is effectively taxation. Having your IRA or 401k lose spending power each year doesn’t look good and even with COLA increases on SSI payments, fixed income retirees will be unable to keep up
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Evelyn Vera, you're a miracle.
The entire US debt is in US dollars... So the *FED and Treasury department just needs to print dollars* to repay back the debtors! It's as simple as that. Go Spend more! Splurge!!
@@AnetaMihaylova-d6f - It certainly *creates inflation - for the entire world* - as long as us dollar is the reserve currency! So, as long as US keeps importing its goods & services - it is largely neutral for Americans. Remember, it costs US just a few cents to Print a 100 dollar note... while allowing it to buy $100 worth of manufactured goods from China or import $100 worth of Oil from Saudi! Why do you think US is sitting on a Debt of $36 trillion growing each successive year in leaps and bounds??
Wow, it took all that time to answer that question. It isn't complicated, and can be summed up in one sentence. '"The only political option is to lower the value of the dollar, and US living standards, by printing money, resulting in long term inflation". Now that wasn't so hard.
Cutting the Government by 60% and applying a trillion a year of the savings to debt beyond the servicing payments would still take 40 years to pay this debt. That means this won't happen and we will either default or drop the Federal Reserve. It better be the latter because paying interest to a private entity for the privilege of printing our own money is nuts!!
They will revalue Gold in order to pay off the debt. The thing that's holding them back is that by revaluing Gold, Russia and China become far wealthier countries as their GDP to debt is miles better than the US and they hold more Gold. All major banks are buying Gold and you have to ask why! European countries are trying to cover 4% GDP in Gold to cover their debt and then there will be a reset. Many countries are repatriating their Gold when holding in the likes of London. It's happened 2 or 3 times before where Gold went up 13X's. Gold should be valued 20 to 40k/oz.
I feel investors need to be focus on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 20% of my $75k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.
I agree that there are strategies that can be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
Many people minimise the role of advisors until their own feelings get enraged. When I needed a boost to keep my firm viable years ago, I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing to over $550,000 despite inflation.
My CFA is Karen Marie Gendron, a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Social Security & Medicare: 1) Gov will remove income cap for payroll taxation 2) Gov will increase recipient age 3) Gov means testing for high net worth individuals 4) any SS or Medicare shortfall will become a line-item in the national budget. These will happen before SS benefits are cut to the average recipient.
You realize their is no "social Security" box that you taxes get put into? When their was a surplus the government would use the funds to buy treasuries and now it is beginning to run in deficits. The government "money" is just an accounting ledger. This isn't new this has been the case for generations.
"It's no different from a household." Did you really say that? Households are not allowed to print their own money. I think that's a wee bit of a difference. The fact is that the US has a sovereign fiat currency. Holders of US debt are required to accept US dollars in payment whether they like it or not. The debt can be paid off today. The question becomes this: do the benefits of this outweigh the detriments? This is a non-trivial question. If we don't do this, perhaps we might consider taxing corporate persons as if they were flesh-and-blood persons, forcing the return of all $ stashed overseas, taxing it at a rate near 100%, and increasing the upper brackets by a lot. Getting the $ out of politics might be a little helpful in this. I'm not holding my breath.
Raising taxes doesn't work. I believe once it goes above 20% in aggregate, people start making less. They're not incentivized to work harder for more money,
We had to spend out of the pandemic. Every country did it. We’re recovering faster than any other country. So much waste in all branches of government. Both parties are equally responsible regardless of them always blaming the other ,when you look at the facts.
We absolutely did not need to spend ourselves out of the 'pandemic' which was not a pandemic by the normal definition of the word. The truth is out, there was no need, and the government had no legal authority, to suspend our constitutional rights, and we should not have accepted it. It was a massive scam that created an untold amount of new billionaires while wrecking the economy and destroying the health of millions. Stop perpetuating the big lie.
You pointed out the answer to all western countries problems with debt and that is low corporation taxes, but they will not change because the wealthy that own and have power are greedy, so the answer they have is that the common man has to suffer for their greed.
It took a hundred years for the Dollar to lose 99% of its value. It’ll lose 99% of the remaining value within the next generation. It happens slowly then all of a sudden.
From Ernest Hemingway's 1926 novel The Sun Also Rises. It appears in a conversation between two characters, where one asks the other how they went bankrupt, and the other responds with the quote: “Two ways. Gradually, then suddenly”
Oh you mean like your so-called 'best friend' who has a good time at the club and then just walks away without paying, leaving everyone else to pick up the tab?
Doctors would not like higher caps on Medicare costs, but as it is now, health care spending guarantees doctors make fortunes with the US government paying the bill. The US should have built medical schools in the 1960's to allow more doctors. But the AMA had a strangle hold on the number of doctors graduating each year. The US has filled the huge shortfall by importing 3rd world doctors. Medical costs are out of control ~
Corporation do not pay taxes. They add it to the cost of their product or service. The costumer pays the tax. It is nothing but a hidden tax. And people love it.
The US has essentially a private for profit health system which can easily bankrupt someone with a major health issue yet the government spends nearly a quarter of its budget on health. Most of that government income spent on health comes from individual taxpayers which ends up in the hands of the medical industry. Long live the USA.
I noticed that many of my colleagues died within 18 months of retiring at 65. So I think that you are on the right track. Retiring at 55 seemed to allow people to live for 30 plus years, which is something that I noticed from colleagues as well. Personally-I remembered that it took me five years to ‘wind down’ after my career. So, I really started to ‘live’ at about 60. I am lucky to be so positively blessed. Thank you for your work in sharing these good ideas.
It has always been inflated away... In 1970, an oz of gold was $35, US debt at 0.4 trillion... in 2024, an oz of gold is $2740, debt at $35 trillion, dollar lost 99% value in purchasing power.
. It’s the printing and spending that’s the problem. The federal government is printing and spending nearly two trillion dollars a year. There are not enough corporations or people to tax to pay down this debt. Elon Musk even said our debt is the biggest threat to the US.
Elon Musk's recent interest in US politics is more related to his concerns over proposals to tax unrealized CGs rather than solving the debt crisis. His only solution is to cut spending (read: social security and medicare) and to prevent tax increases on fantastically wealthy persons such as himself.
@davidfairchild1640 You missed their point. Musk is less interested in the good of the U.S. and more interested in his personal agenda. He was never into Republican politics until Biden had a "EV summit" and didn't invite Musk, Biden then signed a tax credit for EVs but structured it in a way that most Teslas don't qualify for the credit. Musk ever since then has been on his own personal agenda to help his ego and his bottom line.
Pay more tax! The Nordic countries have high taxes (22% on income in Norway), but all Nordic countries (Norway, Denmark, Iceland, Sweden, and Finland) are all among the top 10 countries worldwide in economic rating. The USA is not even in the top 20 per capita. And, we have free healthcare, free education, and good pensions.
What if we stopped giving money to Israel and Ukraine as opposed to taking away social security from people who paid into that system? Would that help?
I think the money they give to Israel has to be spent on U.S. made weapons. So the money really goes to U.S. companies to employ U.S. citizens. I don't think the money to Ukraine has the same stipulations.
Ukraine and Israel are test labs for US military weapons. Also the destructions of Ukraine and Israel are opportunities for US contractors to come in to rebuild. War is profitable, unfortunately.
You never look at the federal budget. Its 60 percent on social spending like housing, welfare, education, healthcare, food, etc. The healthcare and education are growing faster than anything else. That's waste on government administration.
You would be paying their share of the countries tax burden that's what you would be paying lol. I bet you travel to country clubs and hand out money to richest people you can find. lol
@@Clarkssman ok midwit. Corporate money goes mostly one of three ways: buybacks/expansion, dividends, payroll. Corporations have the ability to buy off Congress via lobbyists to reduce their taxes, or they relocate off shore accordingly. Meanwhile every western nation has payroll taxes. Individuals cannot lobby Congress for specific tax breaks or exemptions. So… if they don’t pay taxes, that money falls through to the categories listed. If Congress would outlaw buybacks, then corporations could only spend money on expansion or wages. And the wages then get taxed. I see you’re simply a first order thinker. No way to go through life. And buddy, you’d never find me at a country club.
Problem isn’t a taxing issue, it’s a spending issue. We basically borrow money to give to foreign countries in aid. Remove subsidies for gas and electric, make every federal agency reduce expenses by 3 percent per year until they reduce spend where debt doesn’t continue to rise. Need to reverse the cycle to no longer have the debt growing
Just a real zero percent increase per year would be a big win, but the government fudges the numbers, when the government says they are reducing a budget by three percent that is a three percent cut in their projected growth.
Look up inflation induced debt destruction. Comparing government government budget and a household budget isn't apples to apples. Us common folks can't change our income be will or print our own money.
I’m curious what the US government considers “Other” as part of their budget? Could it be stimulus handouts (free money)? Housing and feeding all the illegal immigrants they let through the border? Funding foreign wars? Unemployment (of course its the new unemployed not the ones who were removed because their benefits ran out)? Or maybe they’re afraid to tell the public what it really is? Seriously what is in that category?
I'm appalled by the comments section. I'm not even American and I know more your finance system than some of you. Granted I work in finance but not in your country. Perhaps people should google before they spout nonsense
If you don't care why did you reply to my comment, maybe because I spoke the truth ? So obviously you care. Either grow up or don't comment. And since it bothered you so much I deleted my comment, happy ? you little baby.
the Federal Reserve is not owned by the government - it's a private bank, so they don't print money at will. All money printed just adds to the national debt towards the private bank that is the Federal Reserve.....
Since corporations are human beings by law when it comes to the protections of the Constitution meant for human beings (Bill of Rights - thank you Supremes), why do we not include each corporation in the calculation of individual responsibility for paying the national debt down? Corporations are laughing all the way the bank, knowing they enjoy the benefits of personhood while avoiding many of the responsibilities of personhood. Three cheers for the corporate welfare built into the nation's unfettered capitalist economic system!
corporations are not human beings. That's silly. google is a thing. you should look it up. search ideas (juristic person). once you get this sorted, maybe we can have an intelligent conversation without the hyperbole.
Hmmmm.. spending = social security (funded by payroll tax), medicare (funded by Medicare tax), defense, and everything else...farm bill, supplemental income for disabled, VA, transportation infrastructure...where exactly?
FFS. We're borrowing against the economy ten years hence. Do you *REALLY* believe that the US economy isn't going to grow, enormously in that time? Really. Because if you'd care to wager money on it, I'll take that bet. I mean, I'm soooo freaking old, I remember when the National Debt thirty years ago was huge, *HUGE*, and was going to bankrupt the nation and saddle our children and grandchildren with an unpayable debt. Does anyone else recall how that worked out? Do we really have to pretend that we don't know anything at all about history?
@@davidfairchild1640 I think a sober analysis would lay the blame for cost of housing somewhere other than monetary policy. Just for example: New Jersey is about o be the very first state in the nation to reach 100% build-out. As we speak, virtually every acre of land that it is legal to put a building on, has a building on it. Interest rates, inflation rates, national debt, none of that matters as the population increases, and no one, no one, is making any more real estate in New Jersey.
@@karllewis735 here in Kansas we still have far more farmland and undeveloped land than developed land, yet housing costs have far outpaced incomes here in recent decades, particularly among those at or below the median household income.
@@davidfairchild1640 Yes. Certainly. But again, that ain't because of the federal government's monetary policy. Healthcare, housing, and education are all far more expensive today than years ago, and they've increased at a rate that far, far exceeds inflation. It is not about the deficit. It's a problem. Government policies could help, and currently are not, but reducing government spending won't likely help. I suspect a more interesting question might be: Why haven't salaries risen to keep pace with tuition, healthcare, and housing?
Yellen directly objected to using low interest rates in 2021 to issue long term notes (30+ years) to finance Treasury debt. As she said, "Inflation is unlikely and transitory."
![ทุกครั้งที่หลับตา (Lucid Dream) - AYLA's [ Official MV ]](http://i.ytimg.com/vi/4i1OBAQyv58/mqdefault.jpg)
My math shows 35 trillion, divided by 435 House members plus 100 Senators, comes to 65 billion each.
We voted them in period and continue to vote them in
Add two more since the POTUS signs the budget bills and the VP is complicit
@@geo1134 nah elections are not real LOL keep seething you arent getting your money back.
What abt the Rothschilds blackrocks vanguards state streets Warren buffet bill gates jeef Bezos Elon Musk . All these can easily pay the debt
Exactly the USA government taking out debt on each and every citizen without their approval is fraud.
The citizens should bring up a class action against the republic.
We could use Warren Buffets suggestion … every time the Congress approves a spending bill which exceeds GDP plus 3%, every Congressman who voted in favor of the bill is ineligible for re-election.
Deficit spending is appropriate during financial crises or pandemics. It keeps people form suffering terrible poverty during such crises. What is not appropriate, in my opinion, in an ongoing structural (full employment) budget deficit.
@ the problem with allowing “emergency” spending is that the government will deliberately create emergency after emergency to continue to exceed budgetary constraints. Thus making those constraints irrelevant.
Every time a congressperson proposes cutting military spending, he/she will be labeled as a traitor.
@@arturovillaluz2053 The saddest, destructive fact.
Best and easiest.
Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
the fact that the USA is now robbing it's allies of their resources and still collapsing says alot, You have some fantastic content on your channel. At 53 years old, my wife and I achieved a net worth of $1 million back in 2017. Fast forward five years, and it has grown to $2.4 million. Despite our combined annual salary of just over $100,000, we have adopted a frugal lifestyle. We continue to drive older cars, prepare meals at home, and make use of leftovers. Additionally, we have two children currently in college. Fortunately, we had saved for their college expenses, and they are contributing by working part-time. As a result, they will graduate without any student debt.
Right there with you. I'm retiring early, no debt. Kids are taken care of. Building my dream home on 11 acres, looking over the river valley. there are loads of ways to make a killing right now, but such high-volume near impeccable tradess can only be carried out by real-time experts.
Same here , always spend less than what I was earning ,got some boring shares who rose less than some but without the drama
now I still spend less than what I earn and feel sorry for people who assumed the fairy tales were real and government were looking after them
United States is also occupying and robbing Syria and Iraq of their oil too
Well Done! Me too!
You did well.
Many other are not able to offer that to the children.
Our money IS debt. With no debt there would be no money. We could switch to SOUND MONEY that is issued by the treasury under the direction of the congress as stated in the consttitution. Federal Reserve act of 1913 needs to be abolished.
It's a breach.
Why was the fed created? Because short sighted politicians in control created recessions like voting cycles…. money is a fugazzi …from seashells to rocks to tulips to shiny metals…its value is an illusion we created to enable commerce…and markets...
The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
Gold might crash in a liquidity crunch, but many precious metal holders are prepared for this and unlikely to be forced sellers. The paper market would tank and possibly collapse. Hearing from an experienced investor who has overcome adversity is motivating. It can be scary when your portfolio turns red, but if you've invested in strong companies, stick to your goals and continue growing them
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
impressive gains! how can I get your advisor please, if you don’t mind me asking? I could really use a help as of now
My fiduciary is Stacy Lynn Staples. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.
The Debt was NEVER meant to be paid off when there is NO MONEY!!!!!!!!
Exactly 👍
Because only GOLD and SILVER is money.
That is precisely what “fiat” was supposed to mean in “fiat currency”, money out of thin air.
@@DeadDollar1 and land
If the wealthy paid taxes we could pay it down.
BOTH parties are to blame. Not a little bit. A LOTTA bit!! We haven't had a two-party system for decades. Just the illusion of that system.
The USA is close to losing "World Reserve Currency" Status. In fact, many countries ALREADY starting de-coupling from the US dollar
Sanctions weaponized
Dollar weaponized
Media weaponized
Energy weaponized
Swift weaponized
Reserve currency...why the F should any country want to have anything to do with the Dollar?
It's more likely that U.S. treasuries will lose reserve asset stauts much sooner. U.S. won't be able to export its inflation in the future
@@andrewhill1251 Thank you for the reply. Didn't think of that. However, wouldn't the end result be the same? way higher inflation in the USA & loss of purchasing power?
@@JANAVEL1655 World reserve currency status isn't as valuable as world reserve asset status. But you're right, in the end we're headed toward inflation, first in assets and then in consumer prices.
Exactly!@@andrewhill1251
6:18 they don’t treat the SS funds as trust fund money. Those funds are literally spent on everything… and govt took loans against those funds decades ago they never repaid. So that’s that.
I retired at 65 but waited till 68.5 years old to apply for social.
For me, it was the right decision, because of the following:
1 - I'm in great health, fortunately. I guess a lifetime of healthy food and lots of exercising has helped with that.
2 -Good nightly sleep is critical to staying healthy. So, I wanted the social security to pay all the usual monthly expenses. That works great for me, since I'm frugal, so I don't carry debt. Low stress, better sleep.
So, file later if low financial stress is something you do want in retirement.
I am taking additional steps. I'll be leaving the US and moving my retirement to a less expensive country. That should help even more.
Until the social security stops.
@markjoslin9912 At that point, there are even bigger problems to worry about.
Moving to another place to retire is a great idea, and I will be doing that as well. For us, the SS will remain fully funded, for no politicians will risk their own re-election by touching so many voters' SS. After a few decades, I'm not so sure, but I also won't be around to worry about it.
@@markjoslin9912Even the most MAGA republican retiree will wake up on this one.
Stop subsidizing the oil and tax the corporations , leave the social security in place.
The US government doesn’t have a revenue problem, it has a spending problem.
Spending is needed to grow the economy.
@@tancreddehauteville764 Nobody ever borrowed their way out of debt.
it has both. it doesn't get enough revenue from those that make all the money, to spend all they do on useless wars
Democrats believe that government programs help people pay for education, health care and to pay for national defense and infrastructure. Republicans believe many of these expenditures are not needed or excessive. So Republicans want to lower taxes so that we don't waste money and let people keep more of their paychecks. Democrats want to help people by spending and would rather collect more in taxes to pay for it. One side wants to lower taxes and the other wants to raise spending. So we will always have this tension and difficulty trying to eliminate the structural (full employment) deficit. Thus the national debt will continue to grow unless Congress makes some hard choices.
Yeah....they can print as much as they want to....😂
Azul tells us, "There's a lot of talk about Social Security...and rightly so." I say "and wrongly so". SS did not cause the problem of size $36 trillion. The USA's criminal foreign and military aggression did. These expenditures were made not to promote democracy worldwide, as our Presidents have told us. Rather they were the the flow of the wealth pump our leaders ran to take money from middle-class in the form of taxes and to give it to the class of corporate and individual wealth, our military-industrial complex - as Pres Eisenhower called it and warned us. The talk should be about the imperial and military wealth pump, but it is not. Why not! Because the people who do the talking, the media, are owned by those who receive the pump's output! The large expenditure of Social Security payments is for a good purpose, help for the aging in the USA. It is not for stealing other people's land and resources by military force and killing millions of people on almost every continent; it is not for toppling governments that try to remain free of Washington's domination; it is not for aiding war criminals, such as Benjamin Netanyahu and being an accomplice to his crimes.
The USA is in decline in world influence, because our rulers are so greedy that they are blind to the harm they are doing to their own country!
Israel
The situation is much worse. Over HALF of the adults in America today pay ZERO federal income tax. An additional 22 percent of the population are children. That means currently three quarters of the people in the United States are free riders who are mooching off the taxpayers and paying nothing to run, maintain and protect our country. The federal and state governments are being paid for through increasing debt and an ever shrinking pool of taxpayers. That math doesn't work for very long.
says the dude simping to bilionnaires
If you took every penny from billionaires we can run the country for about 8 months these analysts never tell the truth about the numbers
This is just scary...
@@AmauryJacquot No, but I can do basic math. Seventy five percent of the people can't live off of the struggling twenty five percent of the population who are paying for everything. We have too many people in the wagon and not enough people pulling the wagon.
A big reason for people not paying taxes is the lack of people being hired by employers. You would think in a first world capitalist economy everyone should be able to obtain employment at any time, that’s not the case despite what you hear on the news.
Irresponsible leaders and their spending.
Irresponsible voters and media who don't hold them accountable. Everyone loves Santa Claus, but you need Scrooge.
@thomasboissy3560 well to be fair it's been a constant trend for 40 years where we alternate between a republican administration cutting taxes and a democrat (and often republican administration as well) expanding spending with the inevitable result that we are paying the lowest taxes in 100 years and the government is spending at record levels. The problem is that voters never want to make difficult choices, so they simply get what they vote for: the mirage of a free lunch.
Good job starting so young. I did not wake up til I was 40 and realized I had 30k in debt and was late on a mortgage pmt. Now at 53 I have a paid off house and a net worth right at 900k. Just wish I started sooner
investors like you should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
Pls how can i meet this advis0r? i want someone to help me invest an Inheritance, i dont want to lose it to inflation
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Carol Vivian Constable for years and highly recommend her. Look her up to see if she meets your criteria.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Paul Ryan proposed a plan to reduce the debt over 8 years and was vilified, dismissed, and eventually not re-elected. Problem is human nature, especially in the U.S., when people are given gifts long enough, they eventually see it as their right to have this gift and will fight to keep it. It's essentially impossible to take benefits back so nothing will change
The US will inflate away its debt away. This is why you move away from the US dollar and into Bitcoin, real estate , and other hard assets. Sticky inflation is inevitable. Government will never spend less and they are trying to inflate our money at at least 2%. Debt will continue to explode.
Inflation also eats into the value of real assets. The land is still the same, but the value in inflated dollars cuts deeply into the preservation of capital. The costs to maintain real property, as well as property taxes, continue to rise with inflation, while capital gains taxes will take a big chunk through inflated land values.
Bitcoin is nothing but a pump and dump. A major ponzie scheme. What can you buy with bitcoin. It is only worth what the next sucker will pay for it.
Unless the right wing Wall Streeters are in power. Then they will spend billions funding Raytheon and talk about how great our economy is. Then when democrats are in power fixing a few things, t
The financial slick talkers will have this here conversation and appeal to the petty bourgeoisie who are so easily manipulated. “ I love the uneducated “
Bitcoin is money laundering and when there’s talk of criminal opportunism, this is it.
Stock market as well: you buy a bit of these corporations that pay low taxes. Bitcoin only if you time well your in and out of the Ponzi scheme.
I’d be happy to pay my full share of that today, if they never tax me again lol
🤣 Your full share is 95%
One, two- (One, two, three, four!)
Let me tell you how it will be
There's one for you, nineteen for me
'Cause I'm the taxman
Yeah, I'm the taxman
Should five percent appear too small
Be thankful, I don't take it all
'Cause I'm the taxman
Yeah, I'm the taxman
(If you drive a car, car) I'll tax the street
(If you try to sit, sit) I'll tax your seat
(If you get too cold, cold) I'll tax the heat
(If you take a walk, walk) I'll tax your feet
Taxman!
Every American needs to pay up to cancel the debt.
@@ParisianThinker that sounds good to me
@@ParisianThinker Every politician that created the debt needs to have their wealth confiscated. They lined their pockets at our expense. Most would label that as fraud.
Dittos!
Income taxes on the wealthy are much less than they were in 1981.
Productivity and wages separated precipitously since 1981.
Income from taxes of corporations is much less today than they contributed before 1981.
The third-party medical insurers suck 30 -50% of the Health Care dollars spent in the US, yet the US won't change its system. We are the only wealthy country in the world that does not have a National Health Care system.
We are only as lucky as we are because of our World Currency status.
How do we fix it? Tax the Wealthy and Corporations much more. They are the reason for the deficit. Change how healthcare dollars are spent.
The math doesn't add up. There are not enough wealthy people to make up the deficit.
@@johannesswillery7855
Yes. Not enough to pay off the National Debt, but to drastically reduce the deficit, (the difference between what the US spends and what it takes in). Don't forget Corporate tax revenue and reduction of 30 to 50% of healthcare dollars spent.
@@DrDRE4391 The only way we will get healthcare costs down is to get seed oils, preservatives and ultra processed foods out of our diets. RFK Jr is talking about it.....
Raising taxes is not gonna fix it, the government will just spend the extra money. Look up the Graham Rudman act, was supposed to ensure a balanced budget by law. You see how that worked out!
@@ngoshawk1
Faux Talk
Congress is not worried about the debt. Neither am I. The debt will never be paid off. But Countries will stop buying our debt.
How does that fix anything?
Sounds like someone is in la la land.
True, but U.S. won't be able to export its inflation any more. First U.S. assets will inflate and then consumer prices will follow. It will be a disaster for those without assets. Pitchforks!
invent aliens to sell the debt
So you are not worried about a collapsing economy, ok.
Earning in America and spending abroad will keep retirees afloat. I've been preparing for this crisis my entire life. Thanks for the update.
With your American dollar? My fear is the exchange rate might end up being a problem unless you are in Ecuador.
@@bryantjenks3598 The Fed needs a strong dollar to keep inflation down. But the wise will keep an inflation hedge, like a rental home, available in America, just in case.
@bryantjenks3598 you shouldn't keep all your assets in any currency. Most advisors encourage you to invest at least 20% overseas for diversification and too help with currency fluctuations. People have been predicting the dollars fall for many years. It might happen, but I wouldn't be assuming it. India just came out this week saying despite being part of Brics, they still want to do foreign transactions in dollars and are not on board with Russia/China in moving off the dollar as the world's currency.
Corporations do not pay taxes. That cost is ALWAYS passed onto the consumer, which is we the people.
Yes, the petty bourgeois, the farmers and small business owners who receive much lip service from the right and are the most easily manipulated by fascists. “Look what they are doing to you” “you won’t have a country if you don’t fight like hell”
Prepare for more passing onto.
Plus if you look at that graph the business tax being high was before 1980. Way before 1999 when we started a deficit.
Which is why I think corporate tax should be zero. But then we need to change how we tax capital gains so that it is taxed exactly the same as earned income. There are loopholes where hedge funds make massive profits and no one pays any taxes on their investments. However, with a zero corporate tax rate I would implement a national sales tax, so that corporate buyouts and mergers would cost real money as they reduce competition and shield the corporation from paying any taxes. The national sales tax would apply to luxury goods and certain services as well as corporations trying to transfer money overseas or spent on stock buybacks, mergers and the like. Bill Gates can buy farmland but then Bill Gates would be subject to sales taxes on that purchase, where as now that money is shielded in tax loopholes and allows for massive amounts wealth to avoid any taxes.
Wrong. Corporate taxes are on profits. It just means a bit less after tax profits.
The debt does not actually exist with a body for it to be paid back to. The money was printed with nothing behind it. It was INVENTED by plucking out of nothing, the interest is actually real, but to the central banks. The actual cost was absorbed in the labour of workers and at the same time the DEVALUATION of the dollar from 100% and now down to 6%. Next year 1% of the 1933 values. Gold has stayed the same value and you can see the dollar value against it. Defence spending is the major cost as it is to hold the world to blackmail with violent threats and hegemony. The world will not stand for it anymore.
👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽
The BRICS meeting in Kazan last week revealed the whole future; 36 countries heads of state, the head of the UN, all tired of being bullied by the US economically or militarily. The US begins to look morally bankrupt as they support actual genocide on live tv, and actually bankrupt with 35 trillion in dept in a currency that is losing value every day.
Do you live on Mars. Federal reserve if America is a private entity owned by few Rich and powerful families. More money Fed prints for US government, more interest is being paid to the private families. Soon US interest payments will reach to 1 trillion USD a year, 20% of income of USA government or more than the budget of US army
💯,well spoken
Defense spending is only 12% of the U.S. budget, and is at the lowest share in decades. The main drivers of deficit spending are SS, Medicare, Medicaid, and Obamacare.
There is no such thing as a tax on corporations. There is only a pass through tax borne by customers or employees.
Agreed. But it does distribute that tax to the people that use those goods and services rather than everybody. And for any goods sold to foreign countries or citizens that passed through tax gets paid by them, not us.
No, the tax is on benefits, on profits, so it just lowers the profits a bit.
@@pascalbruyere7108 you're kidding right? Corporate owners get to decide how to deal with a corporate tax. They can choose higher prices for customers, lower pay for employees, or fewer profits for themselves. Which do you think they will pick last?
@@davidfairchild1640 it depends on their competition, market situation, job market, etc. Most of the time it means lower net profits, as I said.
no way will congress cut current social security benefits, too many voters, they will increase payroll taxes on those making more then 150-250K with no additional benefits to that group, they will get rid of the earnings limits (168K), they may increase the retirement age for those 25 years old or younger. They can can means test survivor/spousal benefits, there are many ways to fix the system
If the government cuts Social Security, there will be a blood bath (probably literally).
Means testing is horrible and should never be implemented. Think about two people who make the exact same amount every year. One buys new vehicles and fancy boats. The other saves money for retirement and lives below their means. Now they retire. One qualifies for SS but the other has saved to much money and no longer qualifies. In the end, one was rewarded for being financially irresponsible and the other is penalized for being responsible.
remove the earnings limit! keep the benefits limit.
I guess that they will remove cost of living increase and effectively reduce social security payments through inflation
Tax would be used to pay debt, but Trump knows that this is impossible, so he says, wealthy folks don't need to pay tax anymore.
Bankruptcy is legal for individuals.
Germany went bankrupt post wwII, they did eventually recover.
And people were so angry they elected a despot.
That is why gold price keeps going up. Other countries are not stupid and see that treasury bonds is worthless in the long term. So probably buying gold to insulate themselves.
And SILVER ✊🏿
so what do the little people do to get some security? who talks about that? WE CANT BUY ANYTHING LET ALONE GOLD/SILVER
Govt runs out of money for SS but never runs out of money for Welfare, sending to Ukraine, or Lebanon…. Give me a break!!!
Time to move to Ukraine where our money is. 🙂
Funny how that works, isn’t it?
you mean, sending to the fascists in Israel, not to the Lebanese people being attacked by said Israel
Not Lebanon, it’s Israel😉
@@AmauryJacquotthey never mention Israel, it’s funny
The USA has been paying only on the interest and nothing towards the principle, insane. Even the banks tells us not do that. The USA spends more than what it makes. That need to stop.
Who cares? Debt is only a red number on a sheet of paper. Life is now. That’s our mentality in our rotten society. Life goes on as usually.
That's what Venezuela said
The corporate tax cuts and corporate greed is killing this country.
Until the early seventies, we couldn't just print more money.
Yes we could. FDR ended the gold standard domestically in 1933.
Finally someone who articulates country total financial figures per capita. To me, no other expression makes sense. Even Balmer in his data series fails to do it. Thanks a lot!
Wow, the debt curve colored for govt, is a gem.
I found gold, your presentation is amazing
Not so fast, Azul, corporate rates were higher because of the war, but the amount actually paid by corporations was way lower.
Conflating the tax rate to what they paid is not honest. Try again!
The fundamental assumption that the debt can't be paid is false also. We have to stop spending and promote actual growth. A combination of both, surrendering to we can't pay the debt, is not the way.
The Math ain’t mathing…regardless corporations may not be paying their fair share.
@yepyep6916 The math ain't mathing and the curve is exponential
Ridiculous! The government deficit is the private sector surplus! There is no reason to pay down the debt ever. The USA is the issuer of its own currency. They don't need to pay it back. Public debt is completely different to private debt! They are not the same thing.
We need to both raise taxes and cut spending. Raising taxes doesn't always translate to more government revenue either, but it changes patterns. When taxes were high from WWII - 1970s, companies re-invested a lot of money in R&D and we had some of the greatest public/private partnerships ever which drove the space and arms race with the Soviets. As a spin-off gave us many of the affordable technical luxuries we enjoy today. We need to unlock more of the dynastic wealth that is held by the 1% or even 0.1%.
Exactly. Watching videos like these from different content creators, they only talk about cutting spending. They don’t mention raising taxes on the wealthy. Cutting taxes on the wealthy since the 80s is the reason why the national debt has gotten so high in the first place. Just roll tax rates back to what they once were
Then they change citizenship.
@@pumasheen best answer, stop spending in war efforts which is all a scam
This explanation leaves out the main problem with our economy - which is the monetary system. The Federal Reserve Act passed in 1913 put the whole problem with inflation and increasing debt in motion. It created a system of private banks who have the privilege of creating money every time they make a loan. That is the source of new money in the economy. The banks are charging interest on all the money in circulation. The government in essence allows the banks to create money and then borrows it back from them at interest. This is done despite the fact that Constitution in Article I Section 8 gives Congress the power and privilege of creating money. If you want to learn more look up the American Monetary Institute and the Alliance for Just Money.
Corporations don't pay taxes (never have) they collect taxes from their consumers.
💯 Governments cause inflation.
Not true. Not all corporations sell directly to consumers.
@@STF68 Anyone who buys from a corporation is their consumer.
And you’ve never paid taxes in your life. Your taxes are paid by your employer through the wages they give you
@@pumasheen Indeed, but so what ?
That's how it works, tax is but a name, you can take it at different point in the economy (e.g. companies, customers, workers). The worker paid tax money you refer to can indeed only come from/through where it is made, i.e. the companies, that get their money however through customers (partly being other workers, partly other companies) that pay these companies partly with thus circular money, and partly customer debts.
But where did all the money originally and gradually come from ? From the federal reserve(s) that print the money, and supply it to the companies through investments loans, injected as debts into the economy. This injection is not even a circle, this money does not come back to the FedRes (only the interest comes back, earned by companies and customers, creating inflation/amount of money, injected again back into the economy), so debts (and interest and inflation) remain, even increase.
Hence we live in a never ending debt economy since we left our caves, and started using money instead of exchanging physical products.
What about a discussion on potential revenue sources? Tax on flash trades, crypto, revising tax laws around private equity LBOs, taxes on moving jobs (and revenue sources) out of the US.....
THINK ABOUT IT, WHEN I FIRST BORROWED TO BUY A HOUSE, THE COST OF HOUSE WAS MORE THAN MY SALARY FOR 6 YEARS OR SO, BORROWED AMOUNT ITSELF IS LIKE MY 4 YEARS SALARY... TO BE PAID IN 10 YEARS, WHICH I DID IN SOMETHING LIKE 15 YEARS... PAYING DOWN A DEBT EQUIVALENT TO 4 YEARS EARNINGS IS NOT REALLAY DIFFICULT...
BUT WHAT MAKES US DEBT DISPICABLE IS - IT IS DOING NOTHING MUCH FOR ECONOMY OR WELFARE OF PEOPLE, BUT GOING TO ENRISH LOBBIES, MAINLY THE MILITARY INDUSTRIAL COMPLEX, PHARMA MAFIA, AND OTHER LOBBIES
Nobody would read all caps post.
Another simple-minded view: the government is not like your household budget. The government has a printing press, and makes the laws and rules about how everything works. The government is simply missing an understanding of how to deal with debt and our currency. Running the country into massive debt was intentional to justify throwing Social Security away. This started with President Ronald Reagan.
He said that we have to pay it back that is simply not true.
And don't forget supply-side / trickle-down economics started by Reagan - the idea that lowering taxes on the rich will ultimately generate higher tax revenue by growing the economy. It didn't work then, didn't work when others tried it, and it will never work. It's called voodoo economics for a reason. All it did, and continues to do, is give the rich an even larger share of the economic pie. Yet some people still think it's a good idea...
If the US is a debtor nation, how can it be a hegemony anymore?
Its because its hegemony that's why its in debt. Like a school bully taking other kids money and lunch.
Because of US dollar being world reserve currency @@thevindictive6145
Great Video , thanks , im Australian so im giving this from an outsiders point of view . ,
what is alo important to consider is net debt. and that the US currency is a powerhouse currency , it is far more valuable than its face value .
The US is owed 8 trillion by other countries so net dept. is far lower .
consider !
About approximately 10 trillion was added to dept from Covid.
60% of the worlds reserves are in US currency.
There are whole south american countries that internally only use US currency.
90% of all foreign trades are in US currencies , if i'm buying tractor parts from China they will not take Chinese yuan , they will only take US currency . So everyone needs US currency to trade . .
The US currency is far more valuable than its face value .
Hi Azul, your spending data is 2022. This year, government interest payments are >> 1 bln USD i.e. twice the number you showed, and it is bigger than defence. The treasury now needs to raise new debt to pay interest. That is sick.
The government interest payments will be about $1 trillion this year, and will for the first time ever exceed the military and defense budget.
Voters need to insist on politicians who address overspending.
monitise the debt by increasing the price of gold enough to cover the debt unless we have no gold reserves.
Thing is after WW2 we could get away with higher corporate tax because out competition was bombed. Now we can’t compete with high corporate tax . Not an option.
So if the government prints 10 million and then it uses this imaginary cash to build a bridge(as an example), the imaginary printed cash creates a real, and tangible assets for the country. In addition, the 10 million fundend are not locked in the actual bridge. The money goes to the workers who built the bridge, in turn, spend the cash for their living expenses. Just think, how small this country economy would be if these imaginary trillions did not make into the economy and produced tangible assets.
Wow. Brilliant. So how did things happen before fiat currencies?
The problem is if the govt keeps doing that then you will barely be able to buy a toy bridge for ten million bucks.
Very few people understand the masive significance of the realities of our debt denominated in our own currency. Even fewer realize the significance of our currency being the reserve currently.
They will inflate the debt away
hurray !
Yes dollar devaluation
Corporate taxes? Who owns those corporations? It does not make a difference.
it will be issue because neither party is interested in cutting spending, Azul.
What you didn’t point out is that inflation by printing money is effectively taxation. Having your IRA or 401k lose spending power each year doesn’t look good and even with COLA increases on SSI payments, fixed income retirees will be unable to keep up
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
Wow that's huge, how do you make that much monthly?
I'm 37 and have been looking for ways to be successful, please how??
It's Ms. Evelyn Vera doing, she's changed my life.
I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Evelyn Vera, you're a miracle.
The entire US debt is in US dollars...
So the *FED and Treasury department just needs to print dollars* to repay back the debtors! It's as simple as that.
Go Spend more! Splurge!!
If us produced $100 worth of peanuts as its gdp, printing another $100 would only half the worth of $1 in terms of peanuts.
it creates inflation 😂 this guy doesn't understand economics at all 😊. You cannot print indefinitely
@@AnetaMihaylova-d6f - It certainly *creates inflation - for the entire world* - as long as us dollar is the reserve currency!
So, as long as US keeps importing its goods & services - it is largely neutral for Americans.
Remember, it costs US just a few cents to Print a 100 dollar note... while allowing it to buy $100 worth of manufactured goods from China or import $100 worth of Oil from Saudi!
Why do you think US is sitting on a Debt of $36 trillion growing each successive year in leaps and bounds??
Most of it is debt to ourselves around 80%. Therefore, Americans are the ones receiving the interest.
Great! Where's my check from the Treasury to make up for my higher priced groceries?
Paying interest on treasuries is a choice. A choice to subsidise rich people.
Wow, it took all that time to answer that question. It isn't complicated, and can be summed up in one sentence. '"The only political option is to lower the value of the dollar, and US living standards, by printing money, resulting in long term inflation". Now that wasn't so hard.
Cutting the Government by 60% and applying a trillion a year of the savings to debt beyond the servicing payments would still take 40 years to pay this debt. That means this won't happen and we will either default or drop the Federal Reserve. It better be the latter because paying interest to a private entity for the privilege of printing our own money is nuts!!
They will revalue Gold in order to pay off the debt. The thing that's holding them back is that by revaluing Gold, Russia and China become far wealthier countries as their GDP to debt is miles better than the US and they hold more Gold. All major banks are buying Gold and you have to ask why! European countries are trying to cover 4% GDP in Gold to cover their debt and then there will be a reset. Many countries are repatriating their Gold when holding in the likes of London. It's happened 2 or 3 times before where Gold went up 13X's. Gold should be valued 20 to 40k/oz.
US holds the most gold in the world.
I feel investors need to be focus on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 20% of my $75k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.
I agree that there are strategies that can be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
Many people minimise the role of advisors until their own feelings get enraged. When I needed a boost to keep my firm viable years ago, I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing to over $550,000 despite inflation.
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advisor? I'll be happy to use some help.
My CFA is Karen Marie Gendron, a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Just ran an online search on her name and came across her website, pretty well educated. thank you for sharing.
Social Security & Medicare: 1) Gov will remove income cap for payroll taxation 2) Gov will increase recipient age 3) Gov means testing for high net worth individuals 4) any SS or Medicare shortfall will become a line-item in the national budget. These will happen before SS benefits are cut to the average recipient.
What gives them the right to dip into SS money that we have given into?
Every country does that.
You realize their is no "social Security" box that you taxes get put into? When their was a surplus the government would use the funds to buy treasuries and now it is beginning to run in deficits. The government "money" is just an accounting ledger. This isn't new this has been the case for generations.
"It's no different from a household." Did you really say that? Households are not allowed to print their own money. I think that's a wee bit of a difference. The fact is that the US has a sovereign fiat currency. Holders of US debt are required to accept US dollars in payment whether they like it or not. The debt can be paid off today. The question becomes this: do the benefits of this outweigh the detriments? This is a non-trivial question. If we don't do this, perhaps we might consider taxing corporate persons as if they were flesh-and-blood persons, forcing the return of all $ stashed overseas, taxing it at a rate near 100%, and increasing the upper brackets by a lot. Getting the $ out of politics might be a little helpful in this. I'm not holding my breath.
Our future taxes are going to be much much higher !
Raising taxes doesn't work. I believe once it goes above 20% in aggregate, people start making less. They're not incentivized to work harder for more money,
In the 1980's the United States was still trying to pay off the debt from WW2
We had to spend out of the pandemic. Every country did it. We’re recovering faster than any other country. So much waste in all branches of government. Both parties are equally responsible regardless of them always blaming the other ,when you look at the facts.
I agree. The spend is pretty much the same from either side. The difference is what they spend it on. It's been that way for several decades now.
We absolutely did not need to spend ourselves out of the 'pandemic' which was not a pandemic by the normal definition of the word. The truth is out, there was no need, and the government had no legal authority, to suspend our constitutional rights, and we should not have accepted it.
It was a massive scam that created an untold amount of new billionaires while wrecking the economy and destroying the health of millions. Stop perpetuating the big lie.
It was a plandemic. Still not getting it.
You pointed out the answer to all western countries problems with debt and that is low corporation taxes, but they will not change because the wealthy that own and have power are greedy, so the answer they have is that the common man has to suffer for their greed.
It took a hundred years for the Dollar to lose 99% of its value. It’ll lose 99% of the remaining value within the next generation. It happens slowly then all of a sudden.
From Ernest Hemingway's 1926 novel The Sun Also Rises. It appears in a conversation between two characters, where one asks the other how they went bankrupt, and the other responds with the quote:
“Two ways. Gradually, then suddenly”
Oh you mean like your so-called 'best friend' who has a good time at the club and then just walks away without paying, leaving everyone else to pick up the tab?
the Tea Party tried in 2010 when the debt was 1/3 of today but was crushed by BO, Dems in Congress w/ an assist by RINOS like McConnell.
Yup.....I marched in DC. Its all gone now
Don't forget that Trump's tax cut added significantly to the debt, and most of the benefits went to the top 1%. Or does that not matter?
"...if we spend more than we make, we're going to go into debt." Wait, what?!
Doctors would not like higher caps on Medicare costs, but as it is now, health care spending guarantees doctors make fortunes with the US government paying the bill. The US should have built medical schools in the 1960's to allow more doctors. But the AMA had a strangle hold on the number of doctors graduating each year. The US has filled the huge shortfall by importing 3rd world doctors. Medical costs are out of control ~
Everything needs to take a cut, pull out of wars and supporting other countries, pay it down
Corporation do not pay taxes. They add it to the cost of their product or service. The costumer pays the tax. It is nothing but a hidden tax. And people love it.
The US has essentially a private for profit health system which can easily bankrupt someone with a major health issue yet the government spends nearly a quarter of its budget on health. Most of that government income spent on health comes from individual taxpayers which ends up in the hands of the medical industry. Long live the USA.
Thank you , Azul...Terrific Video !
I noticed that many of my colleagues died within 18 months of retiring at 65. So I think that you are on the right track. Retiring at 55 seemed to allow people to live for 30 plus years, which is something that I noticed from colleagues as well. Personally-I remembered that it took me five years to ‘wind down’ after my career. So, I really started to ‘live’ at about 60. I am lucky to be so positively blessed. Thank you for your work in sharing these good ideas.
It has always been inflated away... In 1970, an oz of gold was $35, US debt at 0.4 trillion... in 2024, an oz of gold is $2740, debt at $35 trillion, dollar lost 99% value in purchasing power.
. It’s the printing and spending that’s the problem. The federal government is printing and spending nearly two trillion dollars a year. There are not enough corporations or people to tax to pay down this debt. Elon Musk even said our debt is the biggest threat to the US.
Elon Musk's recent interest in US politics is more related to his concerns over proposals to tax unrealized CGs rather than solving the debt crisis. His only solution is to cut spending (read: social security and medicare) and to prevent tax increases on fantastically wealthy persons such as himself.
This is why we are going to have massive inflation. It is why you don't want to hold dollars. Real property, gold, stocks (minimize bonds).
@@bjh1284do you want to pay taxes on your unrealized gains?
@davidfairchild1640
You missed their point. Musk is less interested in the good of the U.S. and more interested in his personal agenda. He was never into Republican politics until Biden had a "EV summit" and didn't invite Musk, Biden then signed a tax credit for EVs but structured it in a way that most Teslas don't qualify for the credit. Musk ever since then has been on his own personal agenda to help his ego and his bottom line.
@@donmountford797 so a Democrat POTUS puts forth a policy unfavorable to Tesla and you wonder why Musk would support the Republican candidate?
Pay more tax! The Nordic countries have high taxes (22% on income in Norway), but all Nordic countries (Norway, Denmark, Iceland, Sweden, and Finland) are all among the top 10 countries worldwide in economic rating. The USA is not even in the top 20 per capita. And, we have free healthcare, free education, and good pensions.
What if we stopped giving money to Israel and Ukraine as opposed to taking away social security from people who paid into that system? Would that help?
I think the money they give to Israel has to be spent on U.S. made weapons. So the money really goes to U.S. companies to employ U.S. citizens. I don't think the money to Ukraine has the same stipulations.
Ukraine and Israel are test labs for US military weapons. Also the destructions of Ukraine and Israel are opportunities for US contractors to come in to rebuild. War is profitable, unfortunately.
It isn't even a drop in the bucket.
You never look at the federal budget. Its 60 percent on social spending like housing, welfare, education, healthcare, food, etc. The healthcare and education are growing faster than anything else. That's waste on government administration.
No, the federal budget is SS, Medicare, interest on the debt and defense.
Higher tariffs -> less profits for international exporters -> less buying of USA debt -> higher interst rates or colapse
Corporations should pay ZERO taxes. Everything should be borne by the taxpayers so we’d really know what we’re paying.
You would be paying their share of the countries tax burden that's what you would be paying lol. I bet you travel to country clubs and hand out money to richest people you can find. lol
@@Clarkssman ok midwit. Corporate money goes mostly one of three ways: buybacks/expansion, dividends, payroll. Corporations have the ability to buy off Congress via lobbyists to reduce their taxes, or they relocate off shore accordingly. Meanwhile every western nation has payroll taxes. Individuals cannot lobby Congress for specific tax breaks or exemptions.
So… if they don’t pay taxes, that money falls through to the categories listed. If Congress would outlaw buybacks, then corporations could only spend money on expansion or wages. And the wages then get taxed.
I see you’re simply a first order thinker. No way to go through life.
And buddy, you’d never find me at a country club.
I heard a Senator a long time ago say you will get your Social Security. It won't be worth anything but you will get it.
Problem isn’t a taxing issue, it’s a spending issue. We basically borrow money to give to foreign countries in aid. Remove subsidies for gas and electric, make every federal agency reduce expenses by 3 percent per year until they reduce spend where debt doesn’t continue to rise. Need to reverse the cycle to no longer have the debt growing
Just a real zero percent increase per year would be a big win, but the government fudges the numbers, when the government says they are reducing a budget by three percent that is a three percent cut in their projected growth.
Clown. Its a spending and tax issue.
@@flea4061 Feel free to disagree, but you can still be gracious to those you disagree with, right?
@@swtexan6502 He’s just living up to his name.
Look up inflation induced debt destruction. Comparing government government budget and a household budget isn't apples to apples. Us common folks can't change our income be will or print our own money.
Easy Solution...stack physical silver/gold and be outside the fiat system.
I’m curious what the US government considers “Other” as part of their budget? Could it be stimulus handouts (free money)? Housing and feeding all the illegal immigrants they let through the border? Funding foreign wars? Unemployment (of course its the new unemployed not the ones who were removed because their benefits ran out)? Or maybe they’re afraid to tell the public what it really is? Seriously what is in that category?
Buy commodities, gold, bitcoin.
Or - move to China
I read the headline and I can tell you the answer to that problem: it does not have to pay back its debt. End of story. Can we move on now?
I'm appalled by the comments section. I'm not even American and I know more your finance system than some of you. Granted I work in finance but not in your country. Perhaps people should google before they spout nonsense
Examples please?
@@davidfairchild1640 there aren't that many comments... Go look. I'll give you a hint... Social security and all Americans pay their bills
@@laundrygoddess4What about Social Security specifically?
@@sunmand6136 I've commented hard facts on others comments. Go look yourself or don't. I don't care.
If you don't care why did you reply to my comment, maybe because I spoke the truth ? So obviously you care. Either grow up or don't comment. And since it bothered you so much I deleted my comment, happy ? you little baby.
the Federal Reserve is not owned by the government - it's a private bank, so they don't print money at will. All money printed just adds to the national debt towards the private bank that is the Federal Reserve.....
I hate when people show the "debt per person". Much of the wealth in the world is owned by businesses. Apple is worth $3 trillion!
Who do you think owns apple stock?
You need a dozen Apples to pay it down, then you would be zero debt but no apples.
Azul, when did the US pay off its national debt completely in the past? How about other countries? How many have no national debt?
Andrew Jackson broke the central bank and US had no debt
Since corporations are human beings by law when it comes to the protections of the Constitution meant for human beings (Bill of Rights - thank you Supremes), why do we not include each corporation in the calculation of individual responsibility for paying the national debt down? Corporations are laughing all the way the bank, knowing they enjoy the benefits of personhood while avoiding many of the responsibilities of personhood. Three cheers for the corporate welfare built into the nation's unfettered capitalist economic system!
corporations are not human beings. That's silly. google is a thing. you should look it up.
search ideas (juristic person).
once you get this sorted, maybe we can have an intelligent conversation without the hyperbole.
Hmmmm.. spending = social security (funded by payroll tax), medicare (funded by Medicare tax), defense, and everything else...farm bill, supplemental income for disabled, VA, transportation infrastructure...where exactly?
FFS. We're borrowing against the economy ten years hence. Do you *REALLY* believe that the US economy isn't going to grow, enormously in that time? Really. Because if you'd care to wager money on it, I'll take that bet. I mean, I'm soooo freaking old, I remember when the National Debt thirty years ago was huge, *HUGE*, and was going to bankrupt the nation and saddle our children and grandchildren with an unpayable debt. Does anyone else recall how that worked out? Do we really have to pretend that we don't know anything at all about history?
It has worked out through inflation that has priced younger persons out of many things, most notably home ownership.
@@davidfairchild1640 I think a sober analysis would lay the blame for cost of housing somewhere other than monetary policy. Just for example: New Jersey is about o be the very first state in the nation to reach 100% build-out. As we speak, virtually every acre of land that it is legal to put a building on, has a building on it. Interest rates, inflation rates, national debt, none of that matters as the population increases, and no one, no one, is making any more real estate in New Jersey.
@@karllewis735 here in Kansas we still have far more farmland and undeveloped land than developed land, yet housing costs have far outpaced incomes here in recent decades, particularly among those at or below the median household income.
@@davidfairchild1640 Yes. Certainly. But again, that ain't because of the federal government's monetary policy. Healthcare, housing, and education are all far more expensive today than years ago, and they've increased at a rate that far, far exceeds inflation. It is not about the deficit. It's a problem. Government policies could help, and currently are not, but reducing government spending won't likely help. I suspect a more interesting question might be: Why haven't salaries risen to keep pace with tuition, healthcare, and housing?
@@karllewis735 because wages are sticky and the last thing to go up in an inflationary environment. Inflation is a monetary phenomena.
Yellen directly objected to using low interest rates in 2021 to issue long term notes (30+ years) to finance Treasury debt. As she said, "Inflation is unlikely and transitory."