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nojvek | 2 months ago
State and city institutions get loans just like we do, sometimes at lower interest rates than individuals can. During covid, loan rate was lower than inflation. That is essentially free money.
It's a complex subject. We've been all told that US debt is a massive timebomb that will explode, however many other countries have higher debt:gdp ratio.
I'm not saying one shouldn't pay their taxes. I'm saying don't pay more tax than you need to. US govt can create money out of thin air either via congress approval or fed interest rate.
drcongo|2 months ago