Yglesias is economically illiterate

He claims that Time magazine  is wrong in assigning n this debt bill ton each person.  He claims that the magic of the IRS insures  rich people may more than their share. Unfortunately, that is an incorrect Magic Walrus assumption.  

The economy is 70% consumption and the double entry accounting system ultimately assigns costs to consumption. The tendency is for middle class workers to slave away and generate about $461 billion/yr in extra consumer goods to feed the folks who hold government debt.  That is about $3000/yr in interest cost paid for with extra work hours for the majority of middle class workers.  It appears in  higher prices for essential goods, the accounting system guarantees it.

We know it is mostly bailouts because the taxes never rise sufficiently to pay the interest  costs, instead the potential growth rates drop, and potential growth has dropped as the Swamp takes on more debt.