Prof. Antony Davies: 10 Myths About Government Debt

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Information Prof. Antony Davies: 10 Myths About Government Debt

Title	:	Prof. Antony Davies: 10 Myths About Government Debt
Lasting	:	21.16
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Views	:	3,1 jt

Your argument for myth #6 is quite misleading and frankly false From what we've seen with Trump's tax returns being released (as is the case with many other billionaires), he paid a max effective tax rate of 41 and a NET FEDERAL TAX OF $0 I wouldn't say this is the "rich paying their fair share" Furthermore, the poor are obviously going to be accessing government programs more than the rich because they are the ones that actually need it
Comment from : John Mullane

Fair share is 0 Nobody should be forced to pay any taxes! Taxes are inhumane and they are just simple banditry
Comment from : Šimon Macháček

Ouch, watching this in September of 23 is a wakeup call Even though the figures fall horribly short of the prediction
Comment from : Randy Hunt

Correction: There are NO, NONE, NADA “trust funds” Its a fiction—fraud All of thembrbrThe US Tyranny swaps the inbound money with their bonds—debt
Comment from : K Chris Caldwell

This didn’t age well
Comment from : Pranjal Singh

Year 2023: 5 years later than this excellent presentation, what has happened?brMyth no10, not even tried to bust
Comment from : Kastoraki

The fact that the Government can't increase taxes is just because America is corrupt AF
Comment from : BooBaddyBig

You simply need more workers than people in retirement to fund entitlements Planned parenthood was terrible for this nation However democratic policies are replacing the missing population with non educated migrants Perfect chicken feed for the system to hang on It’s a cesspool sucking the life out of the poor and uninformed to keep the rich obtaining more and more power
Comment from : Wesley Turner

#6 is total bulshit because rich people chanel the money trough trusts, insurance companies and foundations schemes
Comment from : Maria

Everywhere you turn, you hear stories of corruptness, massively overpriced contracts, lining one anothers pockets brJust for once, it would be good if goverments wouldnt be in the red all the time, they didnt have to keep borrowing more each year so that they can plug the gap and prevent them having a shortfall So much could be done to accomplish this As it stands, nations debts are negatively amortizing, meaning that they dont pay down because repayment towards government issued bonds and interest repayments always cost more than what is actually being repaid brAnd all other wasteful spending, taking backhanders from corporations so they can avoid paying taxes should be a crime We have idiots in power that dont understand just how much of an impact this is having on inflation and what its doing for the nations reputation on the world stage This is by far one of the most important and damaging things on this whole mess Having other nations disrespect you for such reasons will be their downfall, as other nations look towards a new form of currency that can be used globally One that is stable, one that is economically sound and actually backed by some kind of commodity, such as gold or silver brBrazil, Russia, India, China and South Africa are now doing just that and it is also starting to attract the interest of other countries brAnd what people need to realise is that if this does become the worlds preferred method of currency, all other nations that continue the way they do will result in complete bedlam brSo clamping down on all this irresponsible spending caused by greed should be one of the main priorities for these officials before it well and truly is too late!
Comment from : Craig Schulze

There is no fair share The rich and the poor shouldn't be paying any taxes at all just shouldn't be one poor person in America or a homeless person in America
Comment from : Bee

The government's debt is not our debt we need to stop paying them Let them go down the way they let us go down they're stealing our social security they're still doing everything that we put aside for our retirement
Comment from : Bee

This is BS My man to listen to this anymore this is all wise we're not going to pay taxes to a washed out corporation that filed bankruptcy and that lost us cuz we were there collateral their Fiat money was it worth anything but their word we're going to go for the gold now buddy since there's so much gold in this country and just over 17 trillion dollars in gold that they found in the Vatican and they found there's more in Africa that's buried there's tons and tons of gold and they're going to distribute it to us evenly how's that it's called nesara Gesara😂😅
Comment from : Bee

The government has been lying to us all these years That's why it's called corporate America now the federal treasury department isn't even called federal treasury department it's just called the Treasury department now if you look on the debt calendar
Comment from : Bee

The washout corporation says gone bankrupt has nothing to do with us we are no longer we don't even belong to them anymore we were giving up as collateral when they filed bankruptcy in 1999 Want to talk about that that we don't have to tax and pay tax to anybody And we're going to get all our interest back that we paid on our own money when we got a mortgage or a car loan they took that money right out of our trusted cow in the treasury department from selling our birth certificates our freaking social security numbers our license numbers they sold them all as bonds in the market That's why there's so much identity that by the way What do you got to say about that? 🤑🤑🤑🤑
Comment from : Bee

They can kiss their tax money goodbye cuz none of us are going to pay taxes anymore
Comment from : Bee

Taxes are illegal they've never been voted on by all the states
Comment from : Bee

Taxes are enslaving us we're not supposed to be paying taxes according to amendment 16 it's the cabal and the rothschilds that added taxes they were only supposed to be taxes for a short period of time to get through the civil war
Comment from : Bee

We are free we are not owned by the government any longer we were their collateral and when they filed bankruptcy in 1999 guess what they lost us so they've been frauding us so they owe us money too for all the taxes they've been illegally collecting 👹👹👹👹
Comment from : Bee

So we are the government's collateral and they filed bankruptcy in 1999 and we're free we've been free this is all been a fraud scam by the government pretending to vote and have presidents ever since that we've been under martial law ever since 1999 and we're free We don't owe nothing to the government we are not going to be their death Wait, debt
Comment from : Bee

Since when did the middle class get anything back? Where are you getting these numbers from?
Comment from : Ryan Trott

Wrong…The government was getting 17 but our politicians were getting 16 of that 17 😂🤣
Comment from : Ryan Trott

Lovely explanation 😍😍😍
Comment from : Nelca Roco, Lighting Design

I just noticed a problem in the Quintiles listed for this chart The five brackets add up to 81 Is something deceptive happening here?
Comment from : o

i dont understand why this fellow keeps says "government prints money" the gov doesnt print anythingthe government borrows from the Fed bank these are two seperate entitiesand yes the fed can tell the gov to go fly a kite and close the borrowing door this guy is confusing people who dont understand this concept that government and "money printing" is not a one step transaction get educated people
Comment from : SUper STeve

What you leave out of your equations is the value of the products that the American worker produces Also you are wrong, you are intentionally misleading on your 17 percent tax collection You are not comparing apples to apples in this talk, I think your comparing apples to football bats Stop trying to feed people soup sandwiches
Comment from : Jes Sprouse

fine elaboration need more
Comment from : pradip mukherjee

You hear that losers any group or organization with enough money can broker the acquisition of their very own Jabberwocky to unleash on any screen as they see fit!!! You can even pursue developing internally without buying, trauma for sale! Actually The only thing a jabbawockee can do is scare and every time you see it it scares you less but still a fun toy thank you Asians
Comment from : John Alvarado

Why does he say your income doubles? Is it just for argument sake?
Comment from : benjamin erickson

Note the speaker never mentions taxing the better off Where's the money gone?
Comment from : Simon Kinzley

there is no empirical evidence to backup this guy's ideasyes there is inflation but not exactly they way he describes
Comment from : kimtai ferragamo

The transfer rate makes it a universal wage system I was telling people no matter the tax scheme the government puts out they collect just over 11 I was wrong17 I was correct telling all of the college grads that think they know economics were wrong
Comment from : Charles West

This is financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR If you don’t want to invest…learn If you don’t want to learn…build If you don’t want to build observe DO SOMETHING…other than leave There is so much opportunity here Take advantage!
Comment from : Susan Nico

5:09 "and one of the prices that will double is your wages"brbronly in your dreams They more often than not will short you, assuming they've kept you on the payroll unemployment generally increases in periods of high inflation
Comment from : Shameless Rambler

Nah the rich don't pay tax bro They have creative accounting , prof who never been a business man telling what's going on in the world? Nah 50 to 100 years is kinda hard to predict is it not?
Comment from : Hawken Fox

"It's not a lot when you say it real fast" Willie Nelson
Comment from : JedsEvilTwin

Because rich will just borrow rather than take salary or sell their cap gains if rates are higher And corps will slow growth/investment if higher Ironically, you make a case against the market economics you seem to be defending as just for most citizens
Comment from : thermaidathene

Great Explanation
Comment from : Wasay Azeem

US is fu*ked country, where the most important things are rights to have guns, to abortion, to gay marriage, to support super wealth people as now in Sillicon valley bank or Elon Musk with billion and billion of subsidies while average american have terrible public education and need to spend the life paying loans for universitary education, work 7 days for week and don't have access to health system
Comment from : Diego😎

This is misleading Poorer people pay a higher percentage of their income in sales taxes, property taxes, vehicle registration, and state sales taxes, and wealthier people benefit from mortgage interest deductions, write-offs, loopholes, and untaxed, unrealized capital gains So the wealthiest Americans end up paying a lower overall percentage of their income on taxes than poorer people
Comment from : RuppertAle

The statement about wages going up during a inflation events is false My wage never increased as stated during these events In fact my wage increased at an even lower rate that the year before when the inflation events rose even higher than the previous one
Comment from : Thomas Etavard

Oh my God he's wrong about everything the federal government is monetarily sovereign
Comment from : justin moyer

Unfortunately, poor people don't understand this or don't care to understand this
Comment from : Matt K

Stop blaming the politicians Yes, I said it The reason spending will never be cut, is because any political candidate that even suggests a concrete cut is immediately pilloried and never makes it beyond the early primaries Think reductions in Social Security, or increasing the age of retirement Think reductions in Medicaid/Medicare or any of the hundreds of social safety net programs WE are the ones that will only vote for the politicians that promise to keep giving ME what I want It's our responsibility to grow up
Comment from : Kenneth Rosenstein

The rich will NEVER allow this
Comment from : Katz Eyes

We have an antiquated system that relies on collecting income tax Unfortunately, it is susceptible to corruption One of the biggest reasons that tax revenues can't keep up with govt spending are tax cheats People who will hire tax accountants to find ways to shelter assets, inflate business expenses and thereby grossly underreport their actual income Tax avoidance is so widespread in this country it's become a game, us against the IRS Not just the wealthy but normally honest people are tempted to fudge on their tax returnsbr The only fair way to keep everyone honest, is to retire the old income tax collection system and adopt a federal sales tax This would be on everything, houses, cars, swimming pools, appliances, electronics, toiletries and even groceries This would be the most fair and equitable way to collect taxes, because everyone would pay into the system Even the underground/cash economy that normally doesn't contribute any tax revenue would now participate
Comment from : rickw1954

Total Bullshit brAs former Fed Chair Alan Greenspan himself said, schooling dimwit Paul Ryan, "there's nothing to prevent brthe (federal) Gov't from creating as much money as it wants (from thin air) and paying it to somebody" brThe "SS Trust Fund" is simply a spreadsheet, keeping score There's no real $$ in the "Fund" Congress brpays out SS checks to recipients from the General Fund, Not the "SS Fund" brLearn #MMT
Comment from : NY21 Live

There is no such thing as government debt, it's the taxpayers debt
Comment from : mine Alsomine

This is a global capitalist system AKA, a scam
Comment from : Chuck Huff

Must be raised something or what Civil War 2
Comment from : Chuck Huff

They simply have to raise the tax money on the wealthy And corporations, don't want to do that do yah That because that is them😂
Comment from : Chuck Huff

It all a political scam, these people print money 💰 anytime they need it Also it's now backed by nothing
Comment from : Chuck Huff

The real issue is that NO ONE will concede in any areabrTherefore all areaa MUST BE CUT BY AN EQUAL AMOUNT brbrDone brAnd donebrbrIve said this as the speaker has said since i was in my early 30sbrEveryone laughed at mebrNowbrI see and hear him speak Ive said the samebrEliminate all increased spending brSTOPbrDONEbrNO MOREbrand allow the GDP to catch upbrbrI was 24-25 when i said thatbrThat was 91-91
Comment from : Capt RM

IVE BEEN SAYING THIS FOR YEARS!!!!!🤯🤯🤯🤯brIM 56 YRS OLDbrIVE SAID THIS SINCE I WAS 30 YEARS OLDbrWTF?????brLMOAbrbrbrOMGbrTHE POLITICANS ARE FREAKING RETARDS brbrthe irony is that allthe government programs tell the American people to BALANCE THEIR OWN HOUSEHOLD BUDGETS brWHAT HIPPOCRATES
Comment from : Capt RM

And if the Arlington National Cemetary is really serious about keeping an "eternal flame" burning at JFK's gravesite, the US government will have to set aside all the money that will ever be created to pay the gas bill
Comment from : John Smith

Anthony Davies' video first posted five years ago At the opening "page", it states that "$1,080 has been raised so far" Over the course of five years? 1,825 days" ? That is about 59 cents per day Even "Liberal Abortion Survivor" could have raised more money than that! brbrZorry for the misapplied logic above, but the point here is that YOU AIN'T SEEN NOTHIN" YET! the video provides an ouroboros' knot of distortions
Comment from : Michael Baldwin

Take this with a grain of salt It's a hyper oversimplification of how are debt works Akin to explaining supply and demand with the classic lemonade stand example There are a vast array of other variables and policies that can not be covered in a short concise way like this One of the most glaring things left out in the go to takes a 17 slice out of the economy no matter the increase on the rich glosses over the portion on that 17 paid into by them Half of America doesn't even pay income tax so sure they pay their "fair share" but they're also making up paying for their "fair share" of production and equity they extract
Comment from : UnscaryGhost

Didn't age well
Comment from : Todd D

The government can create money The federal government can never run out of money You're starting from a deceptive view of moneybrbrDid you know that balancing the budget would destroy the global economy? US t-bills are the basis of the world economy US debt is the best and most necessary part of the economybrbrJust raise the ceiling on social security earnings Everyone should pay the same percentage of their income
Comment from : Peter Coogan

Watching this in 2023 🤡🤡
Comment from : Metin Hussein

Funny you bringing this up …brbrAbout 10 years ago , Harry Markopoulos made the same forecast on Social Security and Medicare future projections on obligations brbrUsing numbers close to your presentation , these payouts were pegged at present value for the next 30 years in disbursements brbrThe interview might be on DP/30 , the oral history of Hollywood , oddly enough It came into two parts on YouTube brbrThe argument he evoked was…the United States Federal Government does not use its own GAAP accounting standards to measure its own liabilities Or something to that tune brbrLater , an open mike interview with a Social Security Administration expert working in behalf of a non profit , at the Ralph Nader Radio Hour ( which is saddly poorly subscribed ) , this said expert made a point that the Social Security is fully funded She also went to say that funding might wane in years , but not at a severe drop brbrYes, the Social Security Administration and Medicare , their programs are entitlements Nowhere written in the constitution the US Government must make good on such obligations brbrAnd that their reserves are mostly on IOUs from the Federal Government , which has dutifully paid its obligations timely over the years And that benefit disbursements have come out of interest earned on US Debt brbrCurrently , Social Security and Medicare account for a third of the US Government discretionary budget Defense annual budget eats up the second third The rest are discretionary programs ( Agriculture, HUD, Transportation , Foreign Aid, FEMA , Reserarch Programs, Education , NASA , Embassies , The Department of State ) brbrNow it stands to make sense all of this wrestling for the budget spending allocations , this political infighting , recipient co pays in Medicare , the grieving unsatisfaction with the US Foreign policies brbrIt’s all coalescing right now in front of our own very eyes
Comment from : serafina costa

A system based in uncollateralized currency is unlawful; immoral If "government" can print "money", it DOES grow on trees! brWell, it doesn't The premise of money and government becomes - intent to defraud brAny "law" passed which can have such a result is a thin veil over economic slavery of the peoplebrThe 'government' is the debtor, the people are the creditor Come out of Babylon!brDisavow RELATIONSHIPbrIt is unlawful/immoral
Comment from : theSteward

this was 5 years ago Fact the debt has gone up 25
Comment from : Black Knight88

Losers: real estate owners The value of their homes will go down several times Their mortgages will have to renewed at impossible rates, like 120 In poland, mortgage is already 14-17 Prices up 40 Same is happening in other countries Buy physical gold and silver, as the "electronic gold and silver" is only an ENTRY ON A COMPUTER lolbrJust like IMAGINARY Bitcoin, which is a computer program Representing WASTED ELECTRICITY
Comment from : PAWEL KOLASA

Gold 😎
Comment from : Pushparaj

Overly simplistic I do not get more money back than I pay in
Comment from : mark sherrill

5 years later and this video has already aged like fine wine unfortunately
Comment from : Axour Primefaller

BS! A juvenile attempt to scare the gullible The number he starts with, $20 trillion, was 5 years ago Trump added $8 trillion St Ronnie tripled the debt Daddy Bush tried but but his contribution was relatively minor However, Junior doubled the debt Also, these scare-mongers always talk about cutting Social Security and Medicare to reduce the debt There's just one little problem Those are not a part of the debt Those employ separate trust funds Totally eliminating both would not change the debt by a single penny The debt has grown for two specific reasons One is tax cuts for corporations and the richest few percent The other is giving the military more than they need and even more than they ask for for weapons systems they don't want Why? To repay the military-industrial complex for their bribes - you know, the gang of kleptomaniacs that Eisenhower warned us about in his farewell address
Comment from : Couth Hillbilly

It could be even worst , without real money in our pockets , having just plastic cards we we’ll be a super slaves of our Government 😅
Comment from : Leszek Kochanczyk

davis, are a prof at trump universitypretty stupid ultra right wing
Comment from : Uli Hanel

I like tragedies that end with a hint of sunshine Even if the sun doesn't actually come out
Comment from : Timotley

Wages don't rise like prices
Comment from : Larry Swinford

No
Comment from : Jaden Halbert

Myth 1 an myth to the end America debt is in the pockets of thousands of millionaires and many hundred billionaires who have bought out fed gov to keep from paying taxes We appease the many with sec 8 an food stamps for those who don't or can't work an we give much money to other country's to make us look like the good lord People who never watch the news or follow the gov the tax system don't have a clue it's 31 trillion debt today March 2023
Comment from : David Williams

The President effort to extend the Heros act to pay for the dead beat students is ludicrous The Heros acts were for students serving in a wartime capacity or military operation,but if Students knew full well that when they signed those student loan papers at graduation they were going to have to pay them back I'm sure all of them knew the definition loan I took out a student loan for my education and I payed every single penny back because I felt it was my responsibility not the Taxpayer
Comment from : Joe Hernande-

Politicians promising a 10 cut on government kickbacks don't become politicians
Comment from : Peace On Death

Myth3 option 3 is to borrow more money
Comment from : Kevin Cousino

there is no such thing as a social security trust fund social security and Medicare comes from the general fund
Comment from : Brian Langhorst

In another 5 years from right now we will double that $20 trillion, if we keep spending as irresponsibly
Comment from : John Linares

Nonsense, the government pays out about one Trillion a year and sells about one Trillion in bonds The payment of balances works out again and again This slideshow is fear mongering
Comment from : Edd Abraham

I am an Economist You have well explained many questions that have been in my mind for many years A must for any serious person including economists Thanks
Comment from : Bitter Truth

The Government refuses to accept Crowd Funding to pay the bills, using Crowd Funding and Block Chain as an Ledger they can't play funny with the books or add pork
Comment from : Mike Raphone

Bruh this is some of the most misleading bullshit I’ve ever seen in my life
Comment from : Theodore Richer Vis

Interest isn’t paid on future debt obligations They’re in the futurebrEven in your “solution”, you’re incorrectbrAge demographics show a shrinking population, therefore, your economy will shrink- not expand
Comment from : Michael Dalton

Biased speaker provides more smoke than information I hate it when a supposedly informational piece is designed to just make me agree with some point of view Note he shows the income curve with such a large scale you the trends are minimized It does show the government is collecting less money in the last 40 years, which, guess what, drives up the deficit! He also says there is no correlation with the marginal tax rate with the income the us government collects- yes, the rich ensure they get loopholes and use them well But that lack of correlation is not proved and illogical Useless talk
Comment from : Craig PDX