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(MSN)   9 out of 10 economists agree: Republicans have screwed up the budget so badly and left us with so much debt that if we try to pay it down we're all going to die. The other economist chose Dentyne   (msn.com) divider line
    More: Facepalm, United States public debt, Federal government of the United States, Money, Tax, Public finance, Government debt, Deficit, Barack Obama  
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2385 clicks; posted to Politics » on 02 Dec 2020 at 10:33 AM (7 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2020-12-02 9:41:17 AM  
Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.
 
2020-12-02 9:51:20 AM  

bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.


If this Twinkie represents a normal budget from 60 years ago, according to our current budget situation the Twinkie would be 190 feet long and weigh 30,000 metric tons.
 
2020-12-02 9:59:49 AM  

bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.


We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.
 
2020-12-02 10:02:40 AM  

NewportBarGuy: If this Twinkie represents a normal budget from 60 years ago, according to our current budget situation the Twinkie would be 190 feet long and weigh 30,000 metric tons.


A bigger bite is therefore exactly what is required.

In this case, a tax bite.

There's plenty of money out there to run the economy. It just needs to be drained out of the private holding tanks of a select few, and poured back into the hands of the general public.
 
2020-12-02 10:11:02 AM  

bloobeary: NewportBarGuy: If this Twinkie represents a normal budget from 60 years ago, according to our current budget situation the Twinkie would be 190 feet long and weigh 30,000 metric tons.

A bigger bite is therefore exactly what is required.

In this case, a tax bite.

There's plenty of money out there to run the economy. It just needs to be drained out of the private holding tanks of a select few, and poured back into the hands of the general public.


I'm not arguing against targeted higher taxes. Not at all. But we have done so much damage that taxes alone won't do it. We need to cut defense spending by half, but we also have to realize that will have a HUGE negative economic impact. At least in the short term. So, the moves we make are going to have to be very carefully done. Step one to save SS is absolutely remove the income threshold. That fixes SS for a few decades and we can focus on other stuff.

Just saying this is a monumental problem. One that f*ckface Paul Ryan and his budget bullsh*t never dealt with honestly. Because he's a lightweight Ayn Rander.
 
2020-12-02 10:17:07 AM  

OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.


Can we sell Alaska to China and Texas to Mexico?
 
2020-12-02 10:33:35 AM  

OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.


We do have a spending problem. We are addicted to Military. Our nation needs to go to military spenders anonymous to overcome it.
 
2020-12-02 10:35:08 AM  
There's a Tridebt joke in there
 
2020-12-02 10:35:33 AM  
i.kym-cdn.comView Full Size
 
2020-12-02 10:35:55 AM  
now that Dems hold the whitehouse i'm sure we'll get another tea party to fix this shiat right up.
 
2020-12-02 10:36:29 AM  

NewportBarGuy: We need to cut defense spending by half, but we also have to realize that will have a HUGE negative economic impact.


If we'd just shunt that money into 21st century infrastructure, it wouldn't.
 
2020-12-02 10:38:17 AM  

Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?


Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?
 
2020-12-02 10:38:41 AM  
It's simple. We, uh, kill Grover Norquist.

i.ytimg.comView Full Size
 
2020-12-02 10:39:16 AM  

Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?


Sell it for a good price....
 
2020-12-02 10:42:05 AM  

Sophont: NewportBarGuy: We need to cut defense spending by half, but we also have to realize that will have a HUGE negative economic impact.

If we'd just shunt that money into 21st century infrastructure, it wouldn't.


I would even suggest that shunting that money into our infrastructure (including updating and upgrading the online control components) can be legitimately postured as defense spending.
 
2020-12-02 10:42:42 AM  
There is little reason to even attempt to pare down the debt (as the article clearly states).  Interest rates are lower than inflation!  Now is the time (especially considering economic issues due to Covid) to borrow more, not less.
 
2020-12-02 10:43:01 AM  
As usual, this is the exact time that Republicans start caring about the debt and deficits again (JOM).
 
2020-12-02 10:43:03 AM  

Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?


Real answer. Texas rich people are the biggest funder of republican bullshiat in the country. If we sacrifice their money now, we can avoid their running everything into the ground on an ongoing basis. Also, imagine the country without John Cornyn and Ted Cruz. Without Louis Gohmert and Dan Crenshaw.

The vileness of Texas more than outweighs it's oil money.
 
2020-12-02 10:43:17 AM  
Remember budget surpluses? I know its been a hot minute since the Clinton era when those were a thing but if you can actually start running a government which consistently produces a surplus then even mild inflation makes existing debt manageable over time. The alternative is to pay for that debt the way we paid for the cold war, selling T-bills with interest rates that run 5 to 10 percent and kicking the can even further down the road.
 
2020-12-02 10:45:26 AM  

Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?


We still have California, New York, Illinois, Florida, Ohio, and so on.

Losing Texas might hurt a little but it wouldn't be the end of the USA's economic might.
 
2020-12-02 10:45:26 AM  

Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?


Texas has 9% of the world's COVID cases.

How is Texas going to be successful without TEXAS under control?

// maybe some kind of, I dunno, pooling of funds to achieve a common end
// subject to some guidelines all can agree on (or enough of them)
// and they'll need administrators and bylaws and such, to make it all work
// but at least they won't have THE BIG BAD GOVERNMENT around, right?
 
2020-12-02 10:45:26 AM  
I'm sure the senate will care about debts and deficits again come January. Mind you, not until later in the month on a particular day, probably in the afternoon. Then it'll become really important
 
2020-12-02 10:46:03 AM  
if you want to sell stuff , i'm pretty sure you could package guam the marianas, and samoa and sell it to china for a good trillion dollar.
 
2020-12-02 10:47:02 AM  
Ok guys, we said it when the tax cut was passed - THAT WAS THE POINT.

Cut taxes to create a huge deficit hole, then a few years later claim that the "only" way to fix the issue is to cut Medicare, Medicaid, a dozen provisions from the ACA, and divert Social Security funds to fill the gap.

The second Biden is in office, the GOP gets to go back to their deficit-hawking BS.  Cut all spending, cut social programs, and "stimulate" the economy with more tax cuts.  Rinse and repeat, just like ever election cycle since 1980.
 
2020-12-02 10:47:03 AM  

bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.


Including corporations.

bloobeary: Close the loopholes and institute a wealth tax on everything above a million dollars.


A federal wealth tax seems likely unconstitutional without a new Amendment. There's no chance of such Amendment, microscopic chance such a law would pass the current or impending Senate, sub-microscopic chance such a law would be upheld in any Circuit, and probably wouldn't ever get certiori to be laughed out of the SCOTUS.
 
2020-12-02 10:47:26 AM  

peterquince: Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?

Sell it for a good price....


Texas has a larger economy than Mexico. I mean you could sell Texas to France, but it wouldn't be at market value. You would have to take a loss, and then you wouldn't get Governor Matthew Mcconaughey, and still not make up the revenue.

If you want to sell of parts of the country sell of Louisiana Alabama and Mississippi. Those states are nothing but trouble and costs us billions.
 
2020-12-02 10:47:43 AM  
But Republicans don't care about deficits.
/ right now
// Republicans to become deficit hawks on January 20, 2021
 
2020-12-02 10:48:14 AM  
Guys, sometimes I think a system that incentives short-term gains over long-term health might have some... not good outcomes.  But, on the other hand, that MBA over there disagrees, so who knows?  I mean, LOL what is an externality anyway?  Sounds like some Commie shiat!
 
2020-12-02 10:48:47 AM  
The other "economist" was Peter Navarro.
 
2020-12-02 10:50:04 AM  

fortheloveof: Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?

We still have California, New York, Illinois, Florida, Ohio, and so on.

Losing Texas might hurt a little but it wouldn't be the end of the USA's economic might.


No selling off Texas would cripple the economy. I think you misunderstand the role of Texas in the heart beat of the interior of the country.

Not liking something isn't the same as not needing something.
 
2020-12-02 10:53:12 AM  

Khellendros: Ok guys, we said it when the tax cut was passed - THAT WAS THE POINT.

Cut taxes to create a huge deficit hole, then a few years later claim that the "only" way to fix the issue is to cut Medicare, Medicaid, a dozen provisions from the ACA, and divert Social Security funds to fill the gap.

The second Biden is in office, the GOP gets to go back to their deficit-hawking BS.  Cut all spending, cut social programs, and "stimulate" the economy with more tax cuts.  Rinse and repeat, just like ever election cycle since 1980.


Also we're in dire economic straits due to COVID. Restricting spending and shutting down services will deepen and prolong our economic problems, which is what the GOP wants when a Democrat is President.
 
2020-12-02 10:53:37 AM  

fortheloveof: Sophont: NewportBarGuy: We need to cut defense spending by half, but we also have to realize that will have a HUGE negative economic impact.

If we'd just shunt that money into 21st century infrastructure, it wouldn't.

I would even suggest that shunting that money into our infrastructure (including updating and upgrading the online control components) can be legitimately postured as defense spending.


You're both right, but there is lag time of years to get those projects up and running. Planning, approval, budgeting... it all takes time.
 
2020-12-02 10:55:17 AM  

NewportBarGuy: I'm not arguing against targeted higher taxes. Not at all. But we have done so much damage that taxes alone won't do it. We need to cut defense spending by half, but we also have to realize that will have a HUGE negative economic impact. At least in the short term. So, the moves we make are going to have to be very carefully done.


Or, rather than merely cutting spending, we instead spend it on things that create more value in the mid to long term.

I don't know what the ROI is for parking billions of dollars worth of military hardware in the desert, but it's probably not as good an investment as actual infrastructure, alternative energy, education, high tech manufacturing, etc. Hell even welfare programs have positive ROI; turns out people spend more and produce more when they're not living hand-to-mouth on a weekly basis.
=Smidge=
 
2020-12-02 10:55:46 AM  

abb3w: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Including corporations.

bloobeary: Close the loopholes and institute a wealth tax on everything above a million dollars.

A federal wealth tax seems likely unconstitutional without a new Amendment. There's no chance of such Amendment, microscopic chance such a law would pass the current or impending Senate, sub-microscopic chance such a law would be upheld in any Circuit, and probably wouldn't ever get certiori to be laughed out of the SCOTUS.


Taxing it directly like that may be problematic but you could certainly add a income tax penalty based upon held wealth. You have above $x million dollars you get a income tax penalty equal to a percentage of that wealth. If that happens to be more than you earn in the year then so be it. Nothing says you cannot tax income above 100%
 
2020-12-02 10:57:29 AM  

Dr Dreidel: Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?

Texas has 9% of the world's COVID cases.

How is Texas going to be successful without TEXAS under control?

// maybe some kind of, I dunno, pooling of funds to achieve a common end
// subject to some guidelines all can agree on (or enough of them)
// and they'll need administrators and bylaws and such, to make it all work
// but at least they won't have THE BIG BAD GOVERNMENT around, right?


Texas is totally into big government. I think you misunderstand Texas politics, if you think otherwise.

There are exactly no states with the Coronavirus under control. 0.

In fact Texas is fifth in current cases of Coronavirus, California, Illinois, Florida, Arizona have more active cases.

If you rank cases by population Texas drops to 27th.
 
2020-12-02 10:58:07 AM  
Yeah, but we knew that.  Just ask the president:

The Trump Depression: The Economy Does Better Under the Democrats
Youtube fn3cTT6O1I4
 
2020-12-02 10:58:37 AM  
Can't we all just take a moment to appreciate the Dentyne joke? That was immensely satisfying.
 
2020-12-02 10:58:37 AM  

abb3w: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Including corporations.

bloobeary: Close the loopholes and institute a wealth tax on everything above a million dollars.

A federal wealth tax seems likely unconstitutional without a new Amendment. There's no chance of such Amendment, microscopic chance such a law would pass the current or impending Senate, sub-microscopic chance such a law would be upheld in any Circuit, and probably wouldn't ever get certiori to be laughed out of the SCOTUS.


Let's still try it.
 
2020-12-02 11:00:09 AM  
Flat tax,
Tax earned and unearned income at same rate.
No gimmicks, write-offs, or deductions.
Tax the nonprofits. You too, Jesus.
Eliminate maximum earnings cap on social security contributions.

And you're well on your way.
 
2020-12-02 11:00:26 AM  
They are absolutely right. There is no reason the US should be paying off debt when we borrow at negative interest rates.
 
2020-12-02 11:01:36 AM  

abb3w: A federal wealth tax seems likely unconstitutional without a new Amendment.


I know (or I think?) you're a lawyer, but "The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States", and the shiatload of case law* since, seems to suggest it's not.

I'm all ears on why I'm wrong, though.

* plus The Federalist Papers, but we've adjudicated a whole lot since then
 
2020-12-02 11:04:10 AM  
Tax the 1%.  Its the only way out of this mess.

While I would agree that there is no problem with deficit spending with interest rates so ridiculously low, we have to be prepared to shut that nozzle off the moment things change. We could actually see a very quick turnaround in the economy when the vaccines start rolling out.  And in that case, you could see an over-heated economy start to brew, which will require a hike in interest rates.  At that point, it will be necessary to increase revenue.

But look.  The bottom line is that the wealthiest people in America got ticked off with paying taxes to support wars and public social services.  They elected Reagan, who got everyone to accept "supply side economics" as a real thing, and here we are.  We dont have to go back to the 50s tax rate on the wealthy.  If we just went back to the 70s we would increase revenue substantially, and we wouldn't have to make cuts on defense or social programs.
 
2020-12-02 11:06:22 AM  

NewportBarGuy: bloobeary: NewportBarGuy: If this Twinkie represents a normal budget from 60 years ago, according to our current budget situation the Twinkie would be 190 feet long and weigh 30,000 metric tons.

A bigger bite is therefore exactly what is required.

In this case, a tax bite.

There's plenty of money out there to run the economy. It just needs to be drained out of the private holding tanks of a select few, and poured back into the hands of the general public.

I'm not arguing against targeted higher taxes. Not at all. But we have done so much damage that taxes alone won't do it. We need to cut defense spending by half, but we also have to realize that will have a HUGE negative economic impact. At least in the short term. So, the moves we make are going to have to be very carefully done. Step one to save SS is absolutely remove the income threshold. That fixes SS for a few decades and we can focus on other stuff.


The problem on the military side is that the things we should cut are, politically, the hardest to cut, and the things we need to seriously invest in are the easiest.

When I was in high school I had a summer job working as a technician doing wiring for missiles that were more than two decades obsolete *then* - and that was in the late 90s. I once asked my boss why we kept making missiles that were never shot at anything and was told to STFU. They are still making those missiles today. They have warehouses full of them.

We are continually making all sorts of defense hardware that even the military says they do not need or want. Whether it be unnecessary tanks and trucks, missiles made for wartime conditions that haven't happened since Korea, or whatever. That's on top of the stuff we DO use (and a lot of that we use unnecessarily because we're involved in countries we shouldn't be, but now have to be or the region goes to shiat). The problem is the unnecessary stuff involves billion-dollar programs that have highly influential defense contractors that make sure to put the jobs all across the country (even when it's less efficient to do so) because it makes it damn hard for Congress to actually cut them. And yes it'll be hard to cut those things because they do involve millions of jobs.

But China is eating our lunch on R&D for next generation, cyber, and asymmetric warfare. They invest lavishly to fight the next war, trying multiple avenues and picking the best ones to move forward. Our government (and our corporations), however, often finds that the easiest thing to cut is R&D, because it doesn't have giant lobbyists behind it. Even when that R&D is done by the same contractors, it's small potatoes compared to the billion dollar boondoggles so they don't try to save it when it's on the chopping block (the ones they do try to save are themselves disasters, like the F35). But R&D is the thing we likely need more than ever. We are also terrible at keeping the cutting edge technologies we do invent, secret - foreign spying means they don't have to invests much, while our networks aren't what they used to be.

We definitely need to cut military spending. My worry is that whenever we do, we're again going to cut what we need the most, so that we can continue to add to the warehouses full of missiles and deserts with tanks that were obsolete ages ago and will never see use. They use up the fruit of labor while adding nothing to the standard of living.
 
2020-12-02 11:06:28 AM  
you don't have to go back to the 50's, just to the Last Known acceptable conditions - The Clinton tax structure produced a surplus and there was fear of a financial "system" having to  operating without Federal Reserve Debt.
 
2020-12-02 11:08:03 AM  

bloobeary: NewportBarGuy: If this Twinkie represents a normal budget from 60 years ago, according to our current budget situation the Twinkie would be 190 feet long and weigh 30,000 metric tons.

A bigger bite is therefore exactly what is required.

In this case, a tax bite.

There's plenty of money out there to run the economy. It just needs to be drained out of the private holding tanks of a select few, and poured back into the hands of the general public.


Here's the problem. The people that have all that money control the people that make the rules. We should've never allowed dark money to be put into politics. Unfortunately, our government is reaching a breaking point. The rules have been tweaked for the last 50 years ever so slightly here and there to culminate into this moment. We are no longer a government of the people or for the people.
 
2020-12-02 11:09:49 AM  

Rozotorical: fortheloveof: Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?

We still have California, New York, Illinois, Florida, Ohio, and so on.

Losing Texas might hurt a little but it wouldn't be the end of the USA's economic might.

No selling off Texas would cripple the economy. I think you misunderstand the role of Texas in the heart beat of the interior of the country.

Not liking something isn't the same as not needing something.


If by center you mean the border and by cripple you mean slightly inconvenience then sure.

What will be really funny is how quickly Texas ranking as 10 would plummet from the lack of federal dollars holding it up. Now it won't be zero of course because we still have NAFTA and it would be attached to Mexico, so businesses will still be able to sell in the USA. The stickiest points would be if we close the bases or have some OCONUS stations right on our border.

But it won't happen. Returning land to its rightful owner after it was stole by illegal immigrants might set a precedent that the USA can ill afford.
 
2020-12-02 11:10:05 AM  
The national debt is far less important than inflation and productive capacity (AND HUMAN LIVES).

Inflation is (mostly) very low, and has been skidding near deflation for 12 years. The exceptions are (mostly) housing (restricted supply), healthcare (19th century, rube goldberg, oligopolist bullshiat), and higher education (forever loans).

Productive capacity has shrunk with spiking unemployment. Even before the rona, productivity growth has been puny. There isn't much risk of spiking inflation, as long as the money doesn't go straight to the top.

TL/DR - fark the debt. Give the bottom 80% straight cash to revive the economy and save lives.
 
2020-12-02 11:10:14 AM  

edmo: Flat tax,
Tax earned and unearned income at same rate.
No gimmicks, write-offs, or deductions.
Tax the nonprofits. You too, Jesus.
Eliminate maximum earnings cap on social security contributions.

And you're well on your way.


So, you want to increase taxes on poor people and cause significant hardship on charities that poor people need to survive.
 
2020-12-02 11:10:54 AM  

Ham Sandvich: The national debt is far less important than inflation and productive capacity (AND HUMAN LIVES).

Inflation is (mostly) very low, and has been skidding near deflation for 12 years. The exceptions are (mostly) housing (restricted supply), healthcare (19th century, rube goldberg, oligopolist bullshiat), and higher education (forever loans).

Productive capacity has shrunk with spiking unemployment. Even before the rona, productivity growth has been puny. There isn't much risk of spiking inflation, as long as the money doesn't go straight to the top.

TL/DR - fark the debt. Give the bottom 80% straight cash to revive the economy and save lives.


This, this, this, this.
 
2020-12-02 11:11:40 AM  

Smidge204: NewportBarGuy: I'm not arguing against targeted higher taxes. Not at all. But we have done so much damage that taxes alone won't do it. We need to cut defense spending by half, but we also have to realize that will have a HUGE negative economic impact. At least in the short term. So, the moves we make are going to have to be very carefully done.

Or, rather than merely cutting spending, we instead spend it on things that create more value in the mid to long term.

I don't know what the ROI is for parking billions of dollars worth of military hardware in the desert, but it's probably not as good an investment as actual infrastructure, alternative energy, education, high tech manufacturing, etc. Hell even welfare programs have positive ROI; turns out people spend more and produce more when they're not living hand-to-mouth on a weekly basis.
=Smidge=


Putting Soldiers on 3-6 month shifts of working those infrastructure projects would probably help readiness too.

Also help with accountability of the work.
 
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