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Old 09-18-2018, 08:37 PM
Little Nemo is offline
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Join Date: Dec 1999
Location: Western New York
Posts: 80,401
Quote:
Originally Posted by HurricaneDitka View Post
Perhaps you've misunderstood. Whether I pay $9,000 or $11,500 in taxes this year, and next year, and for the next 8 or 9 years, has a real, direct impact on my bottom line. Whether we're in debt $32 trillion in 10 years or only $30.1 trillion has a drastically-less direct impact on my bottom line. Do you understand now?
It makes a big difference if we matching tax cuts with spending cuts. If we keep spending the same amount of money and just borrow to make up for the tax cuts, then the debt grows.

What do you think will happen to that debt? Will it just disappear? No, it will have to be paid off - with taxes.

So what's the point of getting ten thousand dollars this year if it just means you have to pay fifteen thousand dollars when the debt is due? You'll just come out five thousand dollars behind.

Let's say the government builds a bridge. Which would you prefer them to do to pay for it; pay a million dollars for it or borrow a million dollars and then pay the million with two hundred thousand dollars of interest? Same bridge but you can pay either $1,000,000 or $1,200,000 for it. Remember it's coming out of your taxes either way.

Can you explain why you think going into debt won't have an impact on your bottom line? Do you find that works when you buy a car or a house? That going into debt has no effect on your finances? Because that's not how it works for most people.