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Are State and Federal taxes interest payments on government debt ?
I'm thinking about this in a manner similar to a credit card.
Credit cards have minimum payments when there is a balance outstanding. It is paid monthly.
In the case of government debt, the payment is made yearly.
The "minimum payment" is spread amongst all who receive income.
My outlook on money and debt has been changing due to reading "Debt, The First 5,000 Years" by David Graeber.
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