Mastodawn

Have you noticed the blind spot in media coverage about National Debt?

Pretty much every country is in national debt, BY DESIGN, and right wingers love to be alarmist about it ... despite often being backdoor-funded by the unmentioned privileged 1% who OWN the debt and get paid the huge interest on it while not lifting a finger.

A small percentage of national debts is owned by other countries, but linked to pensions. Most of it is held by private finance - owned by the excessively hoarding wealthiest 1 per cent, which buys and steers narrative to ensure this workshy income stream is taxed at a far lower rate than incomes earned by sweat and tears from hard work. It is a madness based on devaluation and exploitation of 99% of the population's time and effort.

The bone-idle privileged maintain a system which causes infrastructures to fail populations by design, media-badmouthing and strangling healthcare, education etc., shaming people for ageing and needing support they were taxed to ensure etc. Very obviously, this is sociopathic narcissism at play.

Remember this the next time you hear a right winger pretend to represent the people while weaponising national debt or moaning about infrastructure failure.

The debt is NOT the issue. It is a holding vessel for pensions etc.

The issue is the obstruction of change to the HUGE level of tax endlessly being evaded by the 1% who profit from, ringfence and hide behind systems they ensure fail, confuse, and divide populations.

This very watchable simple and short video discusses it well:

https://youtu.be/UXiE_rRiUyQ

The national debt lie that makes the rich even richer

YouTube

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Phil Stevens

13h ago

@RyChaz We are being fed disinfo on a daily basis by people who don't understand (or are paid to ignore) #MMT and sectoral balances.

The only way the public sector can run a surplus is for households and businesses to go further into debt to commercial banks. The only exception to this is in the event of a trade surplus, but we won't be doing that any time soon.

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Ry Chaz 10h ago

@phil_stevens

Are you saying that a Government actually collecting the tax percentages the 1% wealthiest AND their massive corporations avoid would not be able to provide enhanced infrastructure and services to the benefit of the greater public, etc?

It seems that an *internationally* co-ordinated strategy needs to be implemented to gather such siphoned funds but that systems and models of taxation are designed to obstruct this ever happening. Without the international strategy, it seems it always loops to the old trickle down myth of "we'll lose all the billionaires and their (usually squirreled away) wealth if we so much as look at taxing them properly".

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Phil Stevens

10h ago

@RyChaz No, not at all, but that's an equally valid point. What I'm pointing to is the entirety of our political discourse being 100% wrong about how money is created and how it actually works.

FWIW, wealth disparity is both cause and symptom of this whole mess. Making billionaires extinct would be an elegant and effective first step. Taxes would be the obvious means to this end.

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Ry Chaz 10h ago

@phil_stevens Ah that is where I thought you were coming from, and where it needed to open up to ... but with the clarity of your words rather than just more of my own.
Well put.