Re: The Debt Trap

Wilson <[email protected]> posted:

> On 8/15/2026 3:40 PM, Dude wrote:
> > Julian <[email protected]> posted:
> >> On 15/08/2026 18:34, Wilson wrote:
> >>>
> >>> https://www.mauldineconomics.com/frontlinethoughts/caught-in-a-debt-trap
> >> https://www.youtube.com/watch?v=yh18YXKMk3g
> >>
> > The U.S. can pay down its national debt today only by running a federal
> > budget surplus—taking in more tax revenue than it spends.
> > 
> > The obvious solution is to accelerate economic growth to increase the 
> > tax base.
> 
> As your car is sliding off the road because you took the turn too fast, 
> the obvious solution is to accelerate as you turn the wheel into the 
> skid. The problem arises when you run out of road.
> 
The US needs to broaden the tax base by eliminating or scaling back popular 
itemized tax deductions, exclusions, and loopholes. Plus, implement a 
broad-based value-added sales tax (VAT).

Note: A value-added tax (VAT) is an indirect consumption tax charged on goods 
and services. Used by more than 170 countries worldwide, such as throughout 
the European Union.  It differs fundamentally from standard retail sales 
taxes used in the U.S.