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Reply to "Do you think taxes will increase to pay for the nation's debt?"
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[quote=Anonymous]I think to effectively deal with the debt, we would have had to significantly raise taxes AND significantly cut spending a generation ago. Instead, politicians on both sides have blindly pushed the problem down the road, and they’ve gotten away with it because with the dollar as the international currency we were kept afloat by foreign investment. Trump’s actions have weakened international support and raised questions about our fiscal policy. I fear there is a very real chance our currency could collapse, in which case higher taxes will be the least of our worries. We could be facing a mountain of an economic crisis that makes the Great Depression look like a pebble on a molehill. Add to that the economic upheaval that may accompany AI, the toll of climate change, and political instability both domestically and internationally, and I don’t think taxes matter all that much.[/quote]
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