How far can you go taxing the rich and putting the youth in debt until they say F U? Because once you get to that point you can’t take it back.[/quote]
How far can you go taxing the rich? That’s a good question. Certainly much farther than we’ve gone so far. We’ve done it in the past during boom times and they didn’t stop working, they didn’t get poorer as a whole. The rich have had extraordinarily low taxes over the last 10 years, when compared to prior decades.
As to debt, the question should be whether current levels are sustainable. Many of us live with high mortgages. Many with debt of three or four times our annual income. Often with the hope that we will have them all paid off by retirement age when we stop getting a paycheck.
But the government won’t retire. So the right thing to do is to maintain the debt, at sustainable levels in bad times, and pay it down in good times. We had that opportunity 10 years ago and it wasn’t done. We still can afford additional debt, but there is a limit.
As to the cost of medical care, while our system of health care delivery has improved, our system of paying for it remains irreparably broken.
