How things work–explained from the perspective of the ruling elite:
See also: Econ 101
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We’ll have to do with less so there’s more for them.
The elite won’t just take our money, it is worse. Outside of the elite we don’t have that much money. So, to fuel the elite’s greed, they’ll use government to borrow money in our name, at a variable interest rate. Future tax increases on us will be pledged to “pay back” the loans. This borrowed money will be used to pay the elite for fraudulent purposes–million dollar bonuses, billion dollar bailouts, no-bid contracts, lower taxes for the elite, affirmative action for corporations, financing of wars for resources, idiotic investments, crony privatizations, etc.
They’ll borrow so much money in our name that our kids will be co-signed to pay the loans. In fact, our kid’s future kid’s will be co-signed on the dotted line. Then, when the money borrowed in our name is gone, the elite will raise taxes and squeeze us to pay back “our” loans. They’ll then squeeze our kids, and their kids for generations. They’ll cut social services (health care, education, social security, food stamps, childcare assistance, sewer systems, road repairs, etc.) because “there’s no money”–it all has to go for reducing the debt, reducing the deficit, paying off the loans, etc.