National debt vs. Personal Debt.

[thundley4]

Aviation Pro (7,244 posts)

America's Aversion to Taxes

This article (link below), published today in the NY Times, addresses why it's so ****ing difficult to raise taxes in our country. The writer talks about the "cultural diversity" of America; the Tea Garglers broken refrain of "gummint is too big;" he even nods his head to the usual babble of the inner psyche of Americans. In short, it addresses every ****ing point that's been made a bazillion times.

Except one: household debt.

Household debt is a tax, a fee for living in a fantasy world, but a fantasy world where people can touch and feel their vapid and impulse driven acquisitions. And banks are the judge, jury and executioner of this debt. This is why Lurch the ****ing StiffTM and Eddie Munster the ****ing ParasiteTM want to unchain the forces of the banks, to further drown Americans in debt at the expense of the country and all she stands for.

And here's a prediction, if, God forbid, this pair of ****ing chuckleheads enters the Oval Office you can bet your last dollar that household debt will become generational through legislation. In other words, when you die, your household debt will be passed on to your family.

Keep these ****sticks out of the White House. Here's the link to the article:

http://www.nytimes.com/2012/08/15/business/economy/slipping-behind-because-of-an-aversion-to-taxes.html

http://www.democraticunderground.com/10021136200

hughee99 (8,762 posts)
1. Our debt is already passed on to our children

via the national debt.

 

Aviation Pro (7,244 posts)
2. Read the article...

....n/t

hughee99 (8,762 posts)
3. I did.

I was referring to your comment at the end about Romney/Ryan's plan for passing on personal debt. It already happens via government debt. Even now, one's "debt" doesn't disappear when they die.

Aviation Pro (7,244 posts)
4. The national debt owed by individuals....

....is ephremal and transparent. The nation as a whole owes this debt. What I was predicting is that "real" debt in the form of student loans, credit card debt, mortgages, and the like will be passed on from parents to their children to maintain the banks' revenue stream from one generation to the next. In other words a child with no debt will now be saddled with 10s of thousands of dollars that he/she never acquired in the first place as opposed to the banks writing it off on the death of the debtor.

I cannot think of a more horrific legacy to leave my child (which explains why I'm debt free except for a mortgage).

And if anyone thinks I'm getting ****ing soft, this is what Lurch/Eddie, the bags that douche, plan on doing to the 99%.

**** them and that noise.

hughee99 (8,762 posts)
5. I understand, but as your article is about American's perception of paying taxes...

the tax increases that will be necessary for future generations to stabilize government spending wouldn't need to be nearly so large if the debt hadn't been handed down from past generations.

I completely agree about the individual debt you talk about, but it's sort of happening now, many just don't see it because it's obscured through the government.

Aviation Pro (7,244 posts)
7. Then it's time...

...to refer to private/household debt as a tax.

That'll get folks attention in a heartbeat.

If you do that, fine.  But remember, it is a self imposed, voluntary tax that you imposed on yourself. 

[BEG]

****ing **** ****... 

[BlueStateSaint]

****ing **** ****... 

I love it when you talk dirty!

[GOBUCKS]

****ing **** ****... 

That guy is an eloquent writer, isn't he?

That language is sort of standard in democrat communication.

[JohnnyReb]

Conservitives want to pass on family wealth...and the gummint taxes it.

DUmmies pass on family debt....

[Bad Dog]

I get the feeling propeller beanie cosigned some of his spendthrift parents loans.

[Zeus]

Conservitives want to pass on family wealth...and the gummint taxes it.

DUmmies pass on family debt....

Personal debt is passed on to the estate of the deceased. If the estate has the cash on hand to retire the debt then it is. Otherwise the estate is liquidated to pay the debt.