France Imposed A 75% Tax On The Highest Incomes: It Didn’t Work And Here’s Why

Tiny fact. Interest on the US National Debt is now almost a BILLION DOLLARS A DAY! Oh well...

"A Billion dollars isn't what it used to be." - Nelson Bunker Hunt.

The ability to print money at will does not make a nation rich. It can even ensure the reverse. China invented paper money - I think in the 11th Century C.E. Their first issue created such dire economic problems they didn't try again for 150 years.

 

That's a political question, not a financial one.

 

Says RCD. My take: U.S. can't - any more than we can.

 

Fine. I'm not defending it. I'm questioning why my comment about the USA being wealthy got turned into this?

(Not defending, but questioning: Where's the harm in our nation's debt thus far? If not now, what will happen at what point? We never seem to hear that.)

 

I outlined some of the harm - and linked to considerably more - in post #40 on Page 2 of this thread. A Google question on this topic (where's the harm etc) will bring up a lot more info...

Done now, thanks. All I wanted to say, I've said.