View Poll Results: Is it legal for govmnts to take on debt on bahalf of taxpayers without approval?

Voters
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  • No, its illegal and absurd.

    0 0%
  • No, in a real democracy it should not be possible.

    2 22.22%
  • No, it should only be possible with popular approval, yet minimised and only in extreme situations.

    3 33.33%
  • No, but the west is not democracy.

    2 22.22%
  • It may be legal under some circumstances

    0 0%
  • It should be legal under some circumstances.

    1 11.11%
  • It should be like it is

    0 0%
  • I dont know

    0 0%
  • other opinion (specify in post)

    1 11.11%
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Thread: National/state/local political and budget debt, is it democratically legal?

  1. #21
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    Re: National/state/local political and budget debt, is it democratically legal?

    Quote Originally Posted by Maximus Zeebra View Post
    So, its okay for the state to "pay for today with tomorrow"?

    And it is okay for them to incur interest rate costs on the taxpayers to the banks and financial institutions, basically transferring wealth from workers to banks and financial institutions?
    Depends what they're borrowing money for, and when.
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  2. #22
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    Maximus Zeebra's Avatar
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    Re: National/state/local political and budget debt, is it democratically legal?

    Quote Originally Posted by Kandahar View Post
    Depends what they're borrowing money for, and when.
    What if you are taking on the debt to afford policies that will get you elected?

    What if you are taking on debts to afford government spendings you cannot afford because it is easier to loan money than to cut budgets to affordable levels?

    What if you are spending the money on waging wars?

    What if you are spending the money to build up your militry?

    What if you are spending the money on a social system that you cannot afford instead of making it affordable?

    What if you are spending that money on giving the money to the same banks and financial institutions who are giving those loans to bail them out?

    In what scenarios is it okay to take on deficits and huge debts?
    In what scenarios is it not okay?

    In my opinion, non of these scenarios would qualify for a legal overspending of money, taking on debt and transfering wealth from taxpayers to banks by method of interest rates.
    Europe is illegally occupied by the US

  3. #23
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    Re: National/state/local political and budget debt, is it democratically legal?

    Quote Originally Posted by Maximus Zeebra View Post
    What if you are taking on the debt to afford policies that will get you elected?

    What if you are taking on debts to afford government spendings you cannot afford because it is easier to loan money than to cut budgets to affordable levels?

    What if you are spending the money on waging wars?

    What if you are spending the money to build up your militry?
    That would be a bad idea in all of these cases.

    Quote Originally Posted by Maximus Zeebra
    What if you are spending the money on a social system that you cannot afford instead of making it affordable?
    Depends on which social system, why you can't afford it, and what the economic and/or human benefits of the spending are.

    Quote Originally Posted by Maximus Zeebra
    What if you are spending that money on giving the money to the same banks and financial institutions who are giving those loans to bail them out?
    Yes, this is a good idea. An imploded financial system would devastate the global economy.
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