When I was little, my parents used to tell me how important it is to live within one’s means: don’t borrow too much; credit cards are evil and so on. Now, I know that personal finances cannot be compared to the state economy, but still, I’m curious and I have a question for my American (and Greek ones too, why not?) readers. Don’t take this the wrong way, please – our societies are very different, and there are some things I find really hard to understand… and if I’m wrong about something (the probability is high), feel free to educate me.
So, to the question. If a country is in enormous debt – how is it going to pay it back without raising taxes? The outflow of money seems to be really big, but how about the inflow? Maybe I’m not very clever, but I fail to see the logic here… If money goes out, money also needs to come in. Politicians are talking about saving money, but how are they going to achieve that? What expenses are going to be cut? What expenses SHOULD be cut? And now to an even more sensitive question: what’s so wrong about paying taxes?
And now while we are at it: how much tax does one pay in the