Historically war has been the most common way to get taxes raised on the most rich. Perhaps the wars since 9-11 have not been desperate enough; wars for national survival, to get congress to raise taxes upon the most rich instead of using deficit spending to finance wars. Plainly the Ukraine conflict isn’t a war for national survival and the quarter trillion dollars flung to one of the more corrupt governments on Earth has been a whim of President Joe Biden and fellow travelers pf the Democrat party.
One learns from history that one does not learn from history; great deficit spending tends to kick a nation’s own derriere with solid self-inflicted booting. Capital increases faster than wages so wealth concentrates without correction. Because of the post Cold War 1 Termination euphoria that arrived on Wall Street that brought a mileau of global investment rather than national progress the United States faces several economic and political challenges as political leadership struggles to attain a Universal state of dominant planetary classical economics.
Typically to great of foreign investment and national neglect can generate national decline. Globally unpopular foreign wars like that of Ukraine can bring disaffection in economics from neutral and unaligned nations. Accumulating vast public debt can bring irreparable harm and steep opportunity costs to other public policy initiatives in the present instance from global warming reduction to financing a basic national income and reform toward ecological economics.
Garrison Gibson: books and blog 