Re:Elon Musk is failing to cut American spending
by toomuchtodo on Friday February 14, 2025 @10:14AM
(#43049144)
Immigration puts pressure on housing, which already has a 4M-7M unit shortage. See Canada, which has liberal immigration policy but wildly unaffordable housing. Entitlements can easily be funded by raising taxes progressively. You cannot say you're the wealthiest country in the world, and then say you cannot afford the entitlements. The very wealthy simply want to remain very wealthy.
Taxes will have to go up, there is not enough to cut, and the bond market will not tolerate continued irresponsible financial policy (pushing 10yr+ treasury yields up, edging us towards a debt spiral).
Re:Elon Musk is failing to cut American spending
by legitster on Friday February 14, 2025 @10:21AM
(#43049217)
Agreed that you need to liberalize housing policy. But one mistake Canada made is that they took a huge influx of wealthy, skilled immigrants.
In the US, immigrants are much poorer and come in at the bottom of the labor and housing markets.
But yes, anything besides raising taxes is irresponsible.
Re:Elon Musk is failing to cut American spending
by bediger4000 on Friday February 14, 2025 @10:35AM
(#43049399)
Conservatives can't raise taxes. It's an article of faith, very literally, that taxes are bad, and that lowering taxes raises tax revenue.
Re:Elon Musk is failing to cut American spending
by toomuchtodo on Friday February 14, 2025 @10:39AM
(#43049454)
The irony is that outside of entitlement reform, increasing immigration is the easiest way to rightsize the entitlement programs.