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Garett Jones - Immigration, National IQ, & Less Democracy
Dwarkesh Podcast
Is the Bond Market a Good Way to Move Capital From Low Productivity to High Productivity?
I'm a fan of the few that the bondholders are going to win in the long run. I think they'll balance the long run budget on the kind of the backs of the poor and the middle class. The US could dramatically increase its tax revenue through either an overt or disguised value added tax. And that would raise a ton of money, just like it raises in Europe. That's the easy way to close the US fiscal gap. We probably won't even have to get to that. Just making Medicaid worse slowly over the long run will do more than make Medicare worse by itself. It's probably the most likely outcome.
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