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Since 1975, $79 Trillion Has Flowed From Bottom 90% to Top 1% in US: Analysis
(www.commondreams.org)
this post was submitted on 05 Mar 2025
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United States | News & Politics
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It is quite simple actually. Who do you think is borrowing money to the government, and where do you think a lot of the money goes to, for contracts like large infrastructure projects and especially Military spending?
Joe von Schloe lends the government a hundred million $ at a 2% interest on his bond. Then the government proceeds to buy weapons from the Joe von Schloe industries for a hundred million $. The profit margin is 30%. Now Joe von Schloe just made a profit of 30 million $ and the government still owes him 100 million $ at a 2% interest rate.
At the end of the day in the current monetary system it is not good for there to be no national debt, as the national debt is basically bringing liquidity to the currency of that nation. Or very simplified money is more or less IOUs by the government. This is not a problem if the money is spent in ways that do not accumulate, like paying teachers, nurses, public cleaners and maintenance crews... But if you give it to rich people in a system that favors rich people, the national debt will become the wealth of the rich, paid for by the taxes of the poor.