Re:How China's “debt traps” work
by plagiarist on Monday October 02, 2023 @02:45PM
(#37742625)
"Entitlements."
The real parasitic drain on the economy is the large accumulations of capital that prevent the Invisible Hand from manifesting. Being alive is an inelastic good. If people have to choose between starving to death or labor for scrip to use at the company grocery, it breaks the efficiency of the market at valuing labor.
Dollars are the scrip and the government is the company store, only accepting dollars (they control) for the protection racket.
Re:How China's “debt traps” work
by plagiarist on Monday October 02, 2023 @06:30PM
(#37745321)
The government is both wasting too much money feeding poors who that guy wants to labor or die, and also at the same time forcing too many people to labor for no gain because of whatever thing you're imagining here.
Re:How China's “debt traps” work
by disgruntledphd2 on Monday October 02, 2023 @03:00PM
(#37742805)
I don't mean to be hyperbolic, but that's how you get people (mostly children and old people) starving in the streets.
That's what those entitlements pay for.
Maybe you think that's not worthwhile, fair enough. Unfortunately for you, many of your fellow citizens and taxpayers disagree.
It's quite possible taxation results in more starvation than it prevents. Particularly when used to incentive low income fertility and dis-incintivize production and labor.
Re:How China's “debt traps” work
by disgruntledphd2 on Tuesday October 03, 2023 @06:54AM
(#37750157)
Huh?
Like, that is an extremely strong claim and I'd appreciate if you could provide some evidence for it.
Re:How China's “debt traps” work
by oceanplexian on Wednesday October 04, 2023 @03:04PM
(#37770021)
Or, perhaps the 60% of American Households that give to charity would be able to take their increased pay, and more efficiently get help to people that need it than a series of large, fraud-ridden government programs.
The VAST majority of the federal budget goes to entitlements. Another massive chunk goes to paying interest on debt because we spent money we didn't have on entitlements. An similarly large chunk goes to defense (Which you could make an argument for, except the VAST majority of which is not actually used for defense, but intervening in far away conflicts)
So going back to all the "society" items, well, the roads, infrastructure electricity, basic services, police, clean water, airports; all the stuff you really need for a society: They're a tiny, minute sliver of the money the government takes from us on a regular basis. You could reduce taxes by 90% and still provide everything you need from a functional society without the parasitic drain on the economy.