[familyop]

"So instead it’s either much higher taxes, or an economy that simply COLLAPSES due to debt. Given those two options, I’ll take the taxes, since I have kids."

The government has become the economy. Even services, increasingly dependent on government clientele, are relying more on revenues/debt instead of real production. The more regulation, onerous taxes and insane, improper fees. the more revenues will decrease. We'll see how it works out for the political/regulator class over the next few years--recirculating debt through itself. Have fun. Enjoy the slide.

[BobL]

“The more regulation, onerous taxes and insane, improper fees. the more revenues will decrease. We’ll see how it works out for the political/regulator class over the next few years—recirculating debt through itself. Have fun. Enjoy the slide.”

There is still a lot of money to be wrung out of the poor and middle class - of course they’ll live like crap when it’s over. Not much different than the Brits having to spend their winters in houses that are 58 degrees. But there is revenue there.

And since people are not about to give up what’s ‘owed’ to them, we might as well start taking at least a bit of the burden of that away from our kids.