MTM (Moneta-Teoria Modernoa), behin eta berriz

erabiltzaileari erantzuten

Dollars are deleted, destroyed, shredded when received as a tax.

Get it?

So why are we always talking about the government going broke?

oooooo

erabiltzaileari erantzuten

Why are we always talking about reducing the deficit or lowering the debt?

The National Debt is merely: wait for it…

The sum total, to the penny, of every untaxed dollar in existence since the start of the nation.

oooooo

erabiltzaileari erantzuten

To pay off the debt is to DELETE, Destroy EVERY dollar in the economy.

What kind of knuckle head would push that?

What programs are we missing out on because people do not know this?

oooooo

erabiltzaileari erantzuten

Why do people think that taxes fund federal programs?

Being the “richest” country in the world is not about dollars… it’s about available REAL RESOURCES.

Not $€£¥₩

oooooo

erabiltzaileari erantzuten

Why do people make up stories about the end of the dollar or make up tales from the bar stool about the end of the world reserve currency?

The nonsense about the Petrodollar???

Why do they do it???

oooooo

erabiltzaileari erantzuten

The lie is so pervasive and systematically reinforced in our sitcoms, magazines, media, churches work place, community associations and political parties, unplugging from economic illiteracy is a herculean task but one that must be destroyed every moment of every day.

oooooo

erabiltzaileari erantzuten

As we watch the deep freeze sweep the nation and people die from exposure… remember the people who claimed we needed to reduce the debt and deficit and who refused to advance a bold progressive agenda.

Remember them all.

The dead have no voice.

We must be their megaphone.

oooooo

erabiltzaileari erantzuten

double entry accounting demands an asset be tallied.

So the otherside of the debt is a private sector asset on the balance sheet.

The debt Is an IOU and the asset is a tax credit.

oooooo

“If state spending is printing money, then federal taxation is unprinting money”

(Thanks @wbmosler)

oooooo

Garbi ote?

Pixka bat gehiago...

oooooo

An important distinction exists between the currency issuer & currency users..

The Federal Government is the currency issuer.

It has no means to live beyond.

It creates money at will when Congress authorizes it.

oooooo

States, counties and non sovereign zones such as the Euro adopters are revenue constrained. So pushing for state based initiatives that should be paid for Federally have a very different constraint. States and individuals cannot spend without borrowing, earning or taxing (gov).

oooooo

To make this distinction look at this snippet from a Rodger Malcolm Mitchell article on Monetary Sovereignty

oooooo

2020 api. 7

Heck, in 1946, NY Fed Chair Beardsley Ruml understood this even but the purveyors of the Mont Pelerin Society and later the Powell Memo and libertarian and right-wing think tanks made neoliberalism God. And eradicated knowledge of “the public purse” from the discourse of society

oooooo

oooooo

2020 ira. 9

oooooo

2020 ira. 9

For progressives seeking to organize and expand public purpose spending

oooooo

A Federal Job Guarantee

Add the full breakdown of the Job Guarantee to this

Aipamena

ΛЦƧƬΣЯIƬY IƧ MЦЯDΣЯ@sdgrumbine

2020 abe. 22

Did you know that one of the ways our government prevents massive recessions, or mitigates them is with automatic stabilizers? Thread 1/x #COVID19

oooooo

Because the myth of the “tax payer dollar”, many horrifically believe that their tax dollar is being wasted on “lazy people”, “bad choices” and of course they just hate government.

oooooo

This is all paid for with the “public money”. The money is never a problem once we understand how our nation creates money through Congressional authorization and appropriations. Not some nebulous and nefarious scheme by private banksters.

oooooo

The Federal Government is the monopoly issuer of the currency, sets all rules and regulations supporting its currency and can do whatever it wants should Congress make the decision to do so. The government is also the price setter as the money monopolist.

oooooo

we will look at the most efficient and powerful of all the automatic stabilizers, the Federal Job Guarantee. No need for a pilot Cory Booker.

oooooo

This program provides a transitional job, locally administered and federally funded to serve the same downcycle moments food stamps and other welfare benefits kick in.

oooooo

It isn’t make work, as the local communities would identify the work they want to compensate to improve the lives of the people and enhance the communities in which they reside.

oooooo

A Federal Job Guarantee is a permanent program, a guaranteed job that sets the wage floor (say $15 per hour) and benefits floor (they are a government employee and entitled to such benefits).

oooooo

The intention of the Job Guarantee however is to provide a transition from the wage floor/employer of last resort (or ELR), back into the private sector or a higher paying public service job.

oooooo

This program provides a buffer stock of “employed” people vs “unemployed” people. Consider how seasonal workers in agriculture might require work in the off season.

oooooo

What types of work could be included you may wonder? Caregivers to surfing lessons and other social engagement such as volunteer services normally unpaid at nonprofits could be included.

oooooo

What you do not want to do is provide a wage floor, bufferstock of high skill green jobs as the wage floor. This is not a progressive angle to valuing labor.

oooooo

This is devaluing high skill labor that could and should be funded directly by the Federal Government at a career level opportunity.

oooooo

We should not let politics alter the purpose of the Federal Job Guarantee as the important purpose of the automatic stabilizers should not also serve as a means of killing high paying career level opportunities the government is more than capable of fully funding in perpetuity.

oooooo

UBI

One more final thought about the politically charged, economically invalid concept of a Universal Basic Income or UBI.

oooooo

A #UBI is quite literally for everyone. No matter what. A massive infusion of money without the productivity to support the infusion is not a dollar cost crisis but a real resources crisis that directly causes inflationary concerns and represents the statu quo

oooooo

The #UBI has no price anchor. There is no wage floor. There is no guaranteed services and there is nothing to prevent the worst of situations because the money is not what the poor need, it is the services.

oooooo

A more literate way of addressing this concern about those unable to work would be to expand social security and raise the payments to keep up with any cost of living adjustments. This is not paid for with FICA anymore than TANF is paid for with your “hard earned tax dollars”.

oooooo

They are all new money injections to the economy and until you understand that, no progressive agenda will ever come to be. It’s really that simple.

oooooo

They are all new money injections to the economy and until you understand that, no progressive agenda will ever come to be. It’s really that simple.

oooooo