1092
Good question.
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This might seem like a minor quibble, but that money doesn't really come from taxpayers, and understanding what seems like a very technical financial thing is really important if you want to understand geopolitics in general. Here's an except from the beginning of David Graeber's Debt: the First 5,000 years, easily one of the single most interesting and enlightening books I've ever read:
So it's not coming from US tax payers, this is saying? It comes from Japanese taxpayers, German taxpayers, South Korean tax payers, etc. on top of US tax payers.
That really does not change the situation. It still is a massive amount of money out of US pockets, and the rest is out of US allies' citizen pockets. It also doesn't change the failing to pass audits. It also doesn't change their massive collection of known BS actions done in the past.
Also dosen't change the fact that they could pay for universal everything with that money.
I think the point is that the money wouldn't exist if it wasn't meant for military spending
That’s the one.
What it does change is that the availability of the money and the military machine are linked. It's not just that American taxpayers are footing the bill; it's that our military machine is funded by tribute, which we pretend is "debt" that we're totally going to pay back one day. It's one system.
To be clear, it's bad. I hate it. I just think it's important to understand how the thing we oppose works.
arguably the entire worth of the dollar as a currency comes from it being what taxpayers pay in, so yeah it kind of does come from taxpayers
also, money is fungible with other money, so "this stream of money doesn't come from there" doesn't make sense
Not at all. The dollar’s valuation comes primarily from:
Its backing by a stable economic and governmental system and the projected power of the military controlled by that government
Its status at the global reserve currency
Tokyo, Lisbon, and Santiago don’t hold debt and equity in USD because Phil from Bozeman paid the IRS in that currency.
the only real backing the dollar has is that it's the only currency you can use to pay US taxes
1 is necessary for 2, so 2 isn't really a separate point
They hold debt and equity in USD because USD is stable because there is always a Phil from a Bozeman who needs to pay their taxes, so they money will always have value to somebody
The fungibility isn't what's at issue. The link between the money stream and the military is a system that can't be understood separately. Thinking of it as taxpayer funded doesn't make sense.
I encourage you to read the book. It really changed my perspective on what value even is and what it means. I don't think you'll think this after reading it.
if you raise a billion dollars from taxpayers, and then raise a billion dollars from foreign debt, and you have a problem that you need to spend a billion dollars to fix, any dollar from either pile can go towards fixing that problem
this is like when red bull broke their spending cap in F1 and their response was to say that the overspend was from catering
i can't read
Damn, you really changed my perspective there. Thanks for sharing.
Read the book! It's so good. It's a tome about debt but it's extremely readable and so, so interesting!
Already ordered it 😁