Right, but who will?

As far as I can tell, the first socialized debt restructuring i.e. taxpayers footing the bill is 1780 - 1815: Old Exchange Bank of Amsterdam. The assholes who brought the bank to its knees: among which are Family Fetener van Vlissingen (multi generational rich family) have still not paid up as it was thought to behoove the public to foot the bill via taxes, which were collected by a impoverished but useful idiot: William of Orange.

In effect, it means that the western world has been in receiver ship since the end of the Napoleonic wars. making the financiers trillions and the people: poor and enslaved.

I will quote from an essay from about the same time period but then a different location: different day, same shit:

TAX on everything pleasant to see, hear, feel, smell and taste. Tax on heat, on light, and locomotion. Tax on everything on earth and below, on everything that comes from abroad, or is produced here in this country. Tax on raw materials, tax on every net value added (VAT) by human activity. Tax on sauce which stimulates the appetite, and on the medications that restore his health,...,on the salt of the poor and the spices of the rich; on the nails in your coffin and the hair ribbons of your bride. To bed and board, on the lounge sofa or in the easy chair, we must pay[...] until the only way to avoid taxation is death itself”.

--Sidney Smith in the Edinburgh Review, 1820