Quote:
Originally Posted by Bladewire
I'm glad you're smart and I like that about you, and the fact you take the time to post detailed spot on posts like this. You lay things out so clearly and with more detail than I do. Thank you  . I was gonna add HSA to your list and read it at the very end of your post and was like YES he covered everything! ( that I know of anyway )  |
The problem is more complex and will get worse.
At the base, none of us pay enough in taxes to cover the cost of running a modern country. If we did our Governments would only have to borrow for very large scale investments, not just to keep the country running.
This is a recent thing and due to the exodus of businesses to the Third World. This has sucked Trillions out from the West and has led to growing borrowing. Cheap stuff in the shops isn't that cheap when it's made in China.
Then there are the issues of mass migration bringing in workers undercutting resident workers and mass automation. Both slash Government revenues in favour of corporate profits and more government expenses.
So Governments are left trying to pay for all the demands without looking like the country is broke. Which it is in the real world. Earning $100k a year, spending $110k per year while being over $100k in debt with no chance of repaying it, is the definition of being broke.
The problem is no Western Country has ever tried to address the issue and have in fact kept the problem growing. There are no real measures to stop companies producing overseas and nothing to stop the mass migration of low-cost workers. The shit will hit the fan very soon as companies automate and machines don't pay taxes.
This mirrors most Western Countries debt to GDP ratios, just found US/UK first.
We should have been paying an import tax when I sold my products to countries outside the Czech Republic. The problem is the EU is behind the scheme to take the UK's wealth and share it with the less profitable countries. Both my brother in laws work outside CZ driving vans at a lower rate. Now who made that possible?