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The Debt Scare of 2009This story got pushed onto the Times front page by the big players in finance who want to get their money back from the government on the backs of the little guy. How's that, you say? Well, cut services, of course, but fuck all, don't cut military Keysnianism out of the budget. Besides, the rich can afford health care and retirement after all without the government's help. So the Times goes right along with the scare tactics:
Sure, it may be a payment shock. But here's the ultimate problem with this line of thinking. First, don't be fooled into thinking a.) the government can't repay this debt or that b.) it doesn't have the means already at its disposal. The government has a vast pool of wealth it can tap into at any time. That pool is a tax-rate hike on the wealthy in this country. Ratchet their rates up to sixty, seventy, hell, even eighty percent of income after a cool million and we can have healthcare and a decent stimulus package that puts America back to work. But we don't hear that story. Why? Because the wealthy use the New York Times and other big national papers as their own propaganda organs. Sean Paul Kelley November 23, 2009 - 12:20pm
( categories: Economics: USA )
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