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View Diary: “The History We Didn’t Know” About Last Year’s Grand Bargain Negotiations (505 comments)

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  •  The punitives' demands were/are not sincere. (8+ / 0-)

    The promise to punish someone is merely designed to make those not targeted feel good -- to generate the "there but for my good Congressman, go I" sensation thay has traditionally gotten incumbents re-elected. When Boehner rejected the offer, his bluff was called. There is no fiscal cliff and there will be no cuts to services. Jiggling the tax rates is immaterial when we are dealing with people who hoard money. The tax collection system is geared towards capturing money that moves.
    The punitives think that if they promise to capture less, the hoarders will be moved to spend. They are wrong. Since we need money to move and hoarders obstruct, the only success we can achieve is to keep the hoarders from capturing more. Discouraging the habit of stashing the hoard in Treasury bonds helps that.  The dividend paid on Treasury bonds should probably be dropped more to track what the Fed collects as a service charge.

    We organize governments to provide benefits and prevent abuse.

    by hannah on Tue Nov 13, 2012 at 03:40:48 AM PST

    [ Parent ]

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