Q. wrote:If I'm going to be slugged with an extra tax, I'd prefer it to be spent rather than hoarded to balance their books.
With one of the best economies in the world and our incredibly low debt, there is no justification for this tax.
I guess it is a matter of perspective - mine is any debt
not related to a saleable asset that can be used to pay it off quickly if there is a slump in income is excessive, regardless of how everybody else is doing. So, while I don't like the idea that I may be hit with a deficit tax, if I am, I'd rather it was used to reduce the debt rather than frittered away on grand popularity and vote buying exercises.
On the other hand I remember a guy with an Economics degree at a Greens function I attended arguing that debt never matters,
"because the government can always print more money".
There are multiple "truths" out there.
It could be argued that we have
"one of the best economies in the world" only because most national economies have been wrecked by excess borrowing and everybody is carrying excessive debt. After all, the rating systems are based on
relative soundness compared to the world average, which is rather like suggesting an individual is doing well because they only have one chronically maxed-out credit card where the average is three...