United States Debt Default

they pay no taxes?poorer people bear a bigger burden of taxes than the rich. retail taxes, alcohol duty, tobacco duty, gas. They always had and unfortunately always will.To quote It's a Wonderful Life - this rabble you're talking about , they do most of the working and paying and living and dying.To the winners everything - to the rest nothing.

As an ageing economist befuddled with age and beer.To lay the blame at any specific economic event, political party, ideology or even, heaven forbid, economic theory would be folly.It amazes me how many people feel able to give an opinion on economics without the degree, yet will defer to any other (part) qualified professional.There used to be a standard we all adhered to. We provide credentials as proof of our competence to comment.To read the previous 70+ comments this competency is missing. The arguments are peripheral, bordering on irrelevant, and in the most rubbish. Gold standard!!! For fucks sake! Even his own party thinks he's weird. And the other ideas. WTF.One word is enough to sum this up. GREED.

it is not the issuing of coin, or bonds or even declaring the tooth fairy real that is at the heart of the matter.
Who is economically tied to who? We all owe each other, we are all in defecit to each other, deficit spending, borrowing is the spur to economic growth. No deficit no borrowing, no growth. that is the simple equation.
The economy requires input, do not withdraw.

and non of these are taxes on income?Show an idea of economics before you comment

My comments a few posts earlier remain valid.The illiterate are in charge. Ho humIncome tax is a tax on income - so any tax that applies to your income is an income tax - the poor spend the biggest proportion of their income to live - a proportion of that is retail taxes etc. - therefore they pay the biggest proportion of their income. (be that income pension,benefit or whatever).

what the f@@@ are you talking about?Read it 4 times and I sort of followed it.The deficit is not the problem. Repeat : the deficit is not the problem.The absolute value is not the problem. Are you ready to do business on an even basis with the rest of the world? If it is then your economic headache will last 10 years. If you want to battle the rest of the world then 50 years, and you will lose.