| ▲ | renehsz 10 hours ago | |
There's nothing wrong with using public funds to solve real problems, but persistent deficit spending is the wrong way to go about it! Deficit spending causes inflation, and that type of inflation is a hidden, regressive form of taxation. It hits everybody, but the poorest suffer most when all the essentials get more expensive. The government creates new money, but really the value of that money comes out of everybody's income and bank accounts. If additional government spending is truly necessary, it should be funded through transparent, progressive taxation, so that it only affects those who can afford to pay the tax, and so that the voting public is aware of it. Unforunately, you're unlikely to win an election on the promise of raising taxes. The hidden tax of inflation, on the other hand, is so perfectly hidden in plain sight that most people don't notice it unless it gets out of hand. | ||