Robert ReichBailouts for banks? Fine! Tax cuts for the rich? Sure thing! $800B for the military? No problem! Student debt relief for middle-class and working Americans? But... but... how will we ever pay for it?
Seán Fenian@rbreich We need to stop bailing out banks and corporations. If a corporation or a bank has grown so large that the nation would be seriously damaged by it failing, IT IS TOO GODDAMN BIG, break it up. Any corporation or bank that is too big to FAIL is too big to EXIST. It is an economic single-point-of-failure that the country cannot afford to have.
Sashin@rbreich The question "how will we pay for it" always has been a bad one. The government creates its own money. It was never operationally constrained by finances, only by the actual physical resources in the economy. The "national debt" or "deficit" is propaganda that is only used to counter social spending, not things like the military and bailing out the banks.
https://www.youtube.com/watch?v=75udjh6hkOs
We should tax the rich, but our ability to fund social spending does not depend on it.
The Deficit Myth: The Biggest Lie In Politics
OGJester has moved@sashin @rbreich this can’t be spread enough. When Congress passes a spending bill, they don’t go to the treasury and ask how much taxes were collected; they go to the federal reserve and say, “We need x amount of money printed to cover this bill.” Then they print it. Done.
The other side of it - taxes - is just a way to control inflation. Money taken as taxes is essentially deleted; it’s taken off the books to prevent the dilution of the dollar’s value.
InfiniteOne@rbreich It’s one BIG party and we’re not invited, said a wise man.✌🏼
Tim Ward ⭐🇪🇺🔶 #FBPE@rbreich How you pay for student debt relief is easy peasy.
If they've been on good courses that enhance their economic value then they'll pay higher taxes throughout their working lives.
If they've been on good courses that enhance their social value in necessary but poorly paid jobs then society will benefit from it throughout their working lives and funding from general taxation is entirely reasonable.
If they've been on crap courses that don't do them any good ... why the fuck should they be punished for getting such a decision wrong at the age of 16 or 17 which they can hardly be expected to have the life skills necessary to spot scammers? Funding from general taxation is a reasonable insurance policy.
WWeiss53@rbreich
"Congressional Republican math is complaining about student debt relief while having $987,237 of your own PPP loans forgiven." -from a WH post
"Congressional Republican math is complaining about student debt relief while having $987,237 of your own PPP loans forgiven." -from a WH post
Slidingspaces@rbreich the economy is not a science, it’s always a politcal choice.
HelenaBecause students are easy targets. We have to support every Republican bailout. Yet do we ever get a bailout??