307. Tax as genrational theft – no
February 9, 2010 § Leave a comment
She is reported as saying..
Given that anti-science conservatives like Palin are the champions of the most grievous imaginable “generational theft” — doing nothing to stop catastrophic climate change — and given that they continue to push this “generational theft” meme, I’m going to update my earlier response (see “The Generational Theft Act of 2008, 2007, 2006, 2005, 2004, 2003, 2002, 2001….).”
via Climate Progress.
but the reality is that the debt is paid back in say ten yars to – other memebrs living at that time. In fact the debt is a massive transfer of wealth within and not between generations.
First the money is say paid to banks and taxed against taxpayers, but the bonds that cover the debt are paid back in dollars at some point in the future, taxing those living at that time, and paying to those living at that time who have inherited or purchased the bonds.