> Clearly the US hasn't run out of cash and needed to massively print dollars to cover foreign debt
Foreign debt is skyrocketing, with interest payments alone already becoming unworkable. Five or ten more years of this spells disaster, itβs totally unsustainable.
Either something very drastic has to change, or that money printer will have to go into overdrive.
Only if you find a way to tax the rich in other countries.
Taxing the US rich redistributes money within the country while the problem (or a perceived problem, depending on your stance) is that US bleeds money across the board.
Is the the "rich people will leave" argument? I can't tell.
If they're not willing to participate, I think we should call their bluff. We have helicopters and aircraft carriers, I don't think we couldn't track down a few rich tax evaders.
Foreign debt is skyrocketing, with interest payments alone already becoming unworkable. Five or ten more years of this spells disaster, itβs totally unsustainable.
Either something very drastic has to change, or that money printer will have to go into overdrive.