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hOW about that economy they have in CA? Pretty impressive.
Taxes are critical to the proposed New Green Deal.
Taxes will certainly need to be adjusted, but it's not at all clear whether implementing these programs will cost people more or less overall. When we take into account the costs of health insurance for both insured and employer, universal healthcare is expected to save money overall, while providing better coverage for everybody.
The same reasoning holds for college. Costs in our present system are outrageous, and a major source of debt for young graduates, who would normally be ready to buy houses and cars. Other countries do not have these problems. There is no good reason to stick with our system.
But more importantly (I think), people need to understand that taxes don't pay for everything. Governments are completely capable of self-funding, the real limit being what the domestic economy can produce. (Please, no more inane arguments about the government giving everybody billions, hyperinflation, or any of the other trite and oft-debunked arguments of the uneducated.)
The proof of this should be obvious. The government deficit spends a significant amount almost every year, with no inflation or other ill effects. It does not cost us anything in the future, either. It never has, and it never will. That's just the way that money works. People, and even some economists, are finally waking up and listening to what MMTers have been trying to tell them for years - deficit spending is not a bad thing.
you are silly enough to think the government can manage money. The government got us into the debt and has proven unwilling to do anything about getting us out of it.....
Let's simplify. Politicians promise lots of free stuff and government benefits for poor voters who return the favor by voting in large numbers for the politicians. The problem is that the politicians end up over time promising much more than the government will ever be able to pay for. The troubled politicians are now in a jam, so they blame the fiscal mess on their opponents and promise to increase the size of the government in order to fix the growing problem. And they lie about having to borrow money to keep their big government going and claim they will never have to pay the money back or that they will end up getting the rich to pay the debt off.
It becomes hard to distinguish among the ongoing nonsense what are pure lies, ignorance or stupidity.
Take a look at my last answer.
The government creates and spends its own money. It can never run out, and it can never be forced into bankruptcy. The only thing that can happen is that the government + the private sector can, together, spend too much for the domestic economy to handle (they wouldn't be able to meet the demand). The last time this happened was during WWII; because so much of our production was used to support the war effort, the government had to use a few measures to limit the demand of Americans back home. Since that time, demand has always been the limiting factor in our economy.
If we have enough doctors, nurses, and hospitals to administer healthcare to all Americans, then we can "afford" universal healthcare, because the government can come up with as many dollars as they need. (We do have enough healthcare resources to cover everybody, btw.) If we have enough colleges and professors, then we can "afford" government-provided college.
Did you ever wonder where we suddenly got the money to, say, pay for the Iraq War? It wasn't taxes that paid those bills, it was the government creating money.
Wow!! Cannot believe every post from you is about the same showing total lack of understanding as to what the role of the Federal Gov't should be and .
Taxes are critical to the proposed New Green Deal. How else can everybody get the free money and benefits from the boondoggle democrat plan?
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LOL, this is rich.
YOUR vision of the role of the Federal Government is the correct one. Got it. LOL
Maybe if you read the Constitution and took a civics class you would see that I do indeed "get it."
Take a look at my last answer.
The government creates and spends its own money. It can never run out, and it can never be forced into bankruptcy. The only thing that can happen is that the government + the private sector can, together, spend too much for the domestic economy to handle (they wouldn't be able to meet the demand). The last time this happened was during WWII; because so much of our production was used to support the war effort, the government had to use a few measures to limit the demand of Americans back home. Since that time, demand has always been the limiting factor in our economy.
If we have enough doctors, nurses, and hospitals to administer healthcare to all Americans, then we can "afford" universal healthcare, because the government can come up with as many dollars as they need. (We do have enough healthcare resources to cover everybody, btw.) If we have enough colleges and professors, then we can "afford" government-provided college.
Did you ever wonder where we suddenly got the money to, say, pay for the Iraq War? It wasn't taxes that paid those bills, it was the government creating money.
Yeah, just like with the bible.
YOUR interpretations are fact, correct, right.
Already got that from you.
Depending on how the next several months turn out...The next President can just declare an emergency and take funding out of missile defense.
Wealth cannot be created by printing worthless money. If the government could just print more money to pay its debt then why are we still going deeper and deeper onto debt and why did Congress keep fighting over then debt ceiling under Obama? Why does Congress still fight over what to spend government money on if government money can simply be printed with more presses and does not have to be backed by something of value which must be created by hard work? The US treasury is not mother goose. Wealth is created by labor alone and there is no exception. Paying people government money and subsidizing people's expenses so they do not nave to work for what they get is a prescription for disaster.
Our currency is not "worthless," and it competes against the international basket of currencies every single day.
The rest of your post misses the point about the economics of demand.
Did someone tell you that wealth can be created by the US government simply by printing more un-backed money? That is not so. In fact that is extremely stupid.
Right, national defense is of no interest to you even though that is the SOLE responsibility of the federal gov't
Because defense is the responsibility of the PresidentYup...makes me wonder why our President is doing it.
Because defense is the responsibility of the President
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Wow!! Cannot believe every post from you is about the same showing total lack of understanding as to what the role of the Federal Gov't should be and also ignoring the role of the state and local gov't. You are a walking advertisement for an indictment against our education system today and it is scary if this is what you truly believe or is this just an act for some college project?
You are basically making an argument of socialism or worse for the American people and apparently want everyone to work for the federal gov't. We have the greatest country on the face of the earth that was built on individual wealth creation, capitalism, risk taking, initiative, drive none of which resonates with you. Yes, the gov't creates the money but doesn't create the value for the money, demand does and if we had a country filled with people like you we would have a GDP dominated by federal spending, high states, control of production, and apparently a liberal utopia you have wanted for decades. No thinks, stop trying to destroy the greatest country and economy on the face of the earth all because you cannot complete and are jealous of others.
Wealth cannot be created by printing worthless money.
If the government could just print more money to pay its debt then why are we still going deeper and deeper onto debt and why did Congress keep fighting over then debt ceiling under Obama?
Why does Congress still fight over what to spend government money on if government money can simply be printed with more presses and does not have to be backed by something of value which must be created by hard work?
The US treasury is not mother goose. Wealth is created by labor alone and there is no exception. Paying people government money and subsidizing people's expenses so they do not nave to work for what they get is a prescription for disaster.