BarryP wrote:
"I'm pointing out that every extra dollar in debt is a dollar an American kept in their pocket. My point is that your point (and other people's point) seems to leave that 1/2 of the equation completely out of it. " To be more accurate, every extra dollar in debt is 10 cents in my pocket and $100 in the pocket of a billionaire.
It's not more accurate for two reasons:
1.) It's a dollar for dollar trade. You can't go $1 debt for $100.10 in pocket money.
2.) Even putting down that 10 cents goes to you and 90 cents goes to a more wealthy person is not more accurate because it's implying that your share of the new debt burden for the $1 is equal to the more wealthy person's share. It's not.