Why Nostr? What is Njump?
2024-09-06 09:28:57
in reply to

Toby McMann on Nostr: I was listening to a rich, US citizen say a wealth tax is beneficial because it would ...

I was listening to a rich, US citizen say a wealth tax is beneficial because it would help stop the growth of the deficit.

I noted the assumption that politicians would not use the new revenue to borrow up to ~20x it's amount (at a ~5% interest rate), and increase spending, the deficit, and inflation. "Do you trust any politicians not to borrow against the new revenue and spend?" No answer.

The fundamental problem is not economic, it is political.
Author Public Key
npub1elqfutrcl6w42ekxcru9el2r8h0qe90vgz6yuy4panusplph8t7srfxw9h