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I was pretty skeptical at first when reading this article as it sounds like what Germany did after WW I to their peril, but was pretty surprised that (obviously well before our current crisis) this idea originated with supply-side father and inventor of Reaganomics Milton Friedman, it doesn't seem like something he would advocate:
I read the article. Interesting but bogus. I don't know about everybody else, but I have the money saved up to pay my share. And my income was between 17-25k for the first 10 years I was working, and less than 40k on average for the last 2 years. I think it is erroneous to think that we can't pay it off. People just don't want to. A bunch of LOSERS and SPENDERS with excuses.
I can pay my share today. But will anyone else do it?
The problem with people nowadays (esp here in the USA) is an extreme shortsightedness and unwillingness to take radical action against radical outcomes. The interest alone is enough to kill us in a few decades... pay now, or we are going to pretty much be owned by China.
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