Why Are So Many Nations in Massive Debt? Who is Lending Them All This Money?
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> Why Are So Many Nations in Massive Debt?
Several decades ago taxes were higher so a Nation expenses was covered by taxes. As conservative movements took root in the West, taxes were reduced. As countries need money to pay for education, health care, military, police and other investments in the population well being independently of how low the taxes are, a gap is created between the money that goes into the public treasure and the one that goes out.
> Who is Lending Them All This Money?
In a touch of irony, the same people that used to pay taxes. As the rich have more money available they can lend that money to the state in exchange for interests. So, Nations are mostly in debt with rich people from the Nation itself. That is why you will hear that “the country owns money to itself”.
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