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View Diary: Why Don't You Go Out and Play In the Nice Economy? (128 comments)

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  •  Its important for us to distinguish between federa (0+ / 0-)

    employees and state and local employees.  States and municipalities are nothing but currency USERS like the rest of us, in that they need to borrow or collect taxes on every dollar they spend.  And because of this, I absolutely agree that in the case of state and local workers, private sector workers are literally paying their wages and pensions.  However, this is not at all the case for federal employees.  The Federal Govt is the currency ISSUER and as such our taxes have nothing at all to do with the Govt's ability to create and spend money (FYI, the Govt also doesn't borrow money, but that is a long digression), and so its completely different for Federal employee wages and retirements.  Thats why I think all of us progressives should be in favor of funding Govt workers retirements at all levels through the Federal budget.  This would allow for much lower state and local taxes.....and retirement money would be in much less danger during a downturn like we are seeing now.

    MMT = Reality

    "The Earth is my country and Science my religion" Christiaan Huygens

    by Auburn Parks on Sun Apr 28, 2013 at 05:22:07 AM PDT

    [ Parent ]

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