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Global Q&A: ‘How do you think governments should handle massive debts?’


Epoch Times Staff
Created: January 9, 2013 Last Updated: January 16, 2013
Related articles: World » International
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Thoughts on how governments can handle massive debts include a focus on debt recovery, higher tax for higher earners, more jobs for lower and middle class citizens, and reduced outsourcing of manpower. These were suggestions Epoch Times reporters heard when they asked locals from Dubai to the USA:

How do you think governments should handle massive debts?

Reagan Castro, Dubai, United Arab Emirates (The Epoch Times)

Reagan Castro, Dubai, United Arab Emirates (The Epoch Times)

Dubai, United Arab Emirates

Reagan Castro, 31, Broadcast Engineer

I personally think that the government should create more jobs for lower- and middle-class citizens by encouraging private sectors to refrain from outsourcing manpower from other countries, and give them a minimal tax rate in return. Hence, tax rate for higher classes and private sectors operating externally should be increased reasonably. Tax increase for ‘sin products,’ such as alcohol and tobacco would also be additional revenue, making way to handle massive debts.

Marcus Simonson, Lund, Sweden (The Epoch Times)

Marcus Simonson, Lund, Sweden (The Epoch Times)

Lund, Sweden

Marcus, Simonson, 32, Physiotherapist

I think they shouldn’t pay any debt but they should arrest the responsible people and take their money and give it to the public. “No money to usurers!” is my motto.

 

Isheeta Bali, Bangalore, India (The Epoch Times)

Isheeta Bali, Bangalore, India (The Epoch Times)

Bangalore, India

Isheeta Bali, 22, Dentist

Taxes can be increased successively over the course of a few years. Regulatory bodies to check corruption and maladministration should be created. For instance, if we retrieved the wealth drain in the Commonwealth Games, [and] Spectrum scams in India, our massive deficits could be met.

Marcos Peña, Lima, Peru (The Epoch Times)

Marcos Peña, Lima, Peru (The Epoch Times)

Lima, Peru

Marcos Peña, 36, Musician

I think they should take responsibility. They should consider well before making a loan, the possibility of payment, see if the interest is very high, because sometimes they are too expensive because of the high interest rates. And actually the ordinary people are the ones who are harmed because ordinary people have to pay the debt. The government has to make a commitment, because the following government sometimes fails, and the debt continues to rise. Every loan must be paid.

Ben Warry, Brisbane, Australia (The Epoch Times)

Ben Warry, Brisbane, Australia (The Epoch Times)

Brisbane, Australia

Ben Warry, 23, IT Professional

Frankly the way America doesn’t handle it I guess is the only opinion I’d have on the matter, and that they should really be spending more money on getting out of debt than re-electing, or sending their military to other countries. In saying that, I’m not an American citizen either. I think Australia is doing an extremely good job on their government and I think we’re very lucky to be here but other countries around the world … I think they need to focus more on recovering from debt and less on their individual social status of the high and powerful. More tax for higher-earning people would be my way of doing it.

Angel Alvarez, Puerto Montt, Chile (The Epoch Times)

Angel Alvarez, Puerto Montt, Chile (The Epoch Times)

Puerto Montt, Chile

Angel Alvarez, 60, Artist

I think we should emphasize the social aspect, taking special care of the most vulnerable people and not as the governments do, because they only take care of their own interest.

Raffi Khatchadourian, California, USA (The Epoch Times)

Raffi Khatchadourian, California, USA (The Epoch Times)

California, USA

Raffi Khatchadourian, IT Professional

I think I need more information from our government, like what are we spending the most money on, and what is it that we are doing that is draining our money, or who is it we are borrowing from.


Look for the Global Q&A column every week. Epoch Times correspondents interview people around the world to learn about their lives and perspectives on local and global realities. Next week’s global question: “What are your thoughts on the recent elementary school (Sandy Hook) shooting in the United States?”

The Epoch Times publishes in 35 countries and in 19 languages. Subscribe to our e-newsletter.

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