USA national debt

[ChicagoBlue]

Your example has nothing to do with what you said. Now it’s the estate tax (or lack thereof) you were referring to?

The interest paid on Treasuries is paid out of the general revenues of the US tax system. The tax avoidance measures taken by the wealthy helps them avoid paying those taxes. The irony, therefore, is that they don’t pay the taxes that pay them to increase their wealth.

As I said at the outset, the very wealthy often have a large chunk of their money in preservation funds, including large holdings of super safe Treasuries, in addition to often being business owners. These are all ways I’m which people avoid taxes in the US system.

And, I realized the example I gave you was mainly an estate tax issue, which was why I deleted it almost as quickly as I typed it.

 

[BimboBob]

Hold on, if our major companies/ rich people hide away from paying tax why don't yours?

 

[Henkeman]

Hold on, if our major companies/ rich people hide away from paying tax why don't yours?

Everyone does that. It's just that the numbers are smaller when it's an ordinary person.

 

[BimboBob]

Everyone does that. It's just that the numbers are smaller when it's an ordinary person.

Am I reading the posts wrong then? One of them appears to be saying it does happen and the other one appears to be saying it doesn't.

 

[Henkeman]

Am I reading the posts wrong then? One of them appears to be saying it does happen and the other one appears to be saying it doesn't.

I doubt you are! ;-)

 

[BimboBob]

I doubt you are! ;-)

That's my day fucked then. Something right before 9am.

 

[Henkeman]

That's my day fucked then. Something right before 9am.

Avoid such risks by staying in bed until 9:30.

 

[Armaan]

The bubble will burst some day and all hell will break loose. Pretty F’d up how they can print money and it’s legal tender but if you or I try, it’s counterfeit.

 

[Armaan]

Its mathematically impossible for them to get to zero anyway, everything they borrow is at interest, there’s never enough money in the system at one time to pay all debts off. Those at the top just swapped physical Slavery for financial slavery.

 

[tolmie's hairdoo]

Aren't China holding quite a bit of that US debt?