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View Diary: America's form of capitalism kills free enterprise and democracy (95 comments)

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  •  So the roads and airports that corporations use (0+ / 0-)

    extensively, our schools so their workers know how to read a manual, and our police so they don't need to hire private armies should all fall on the backs of the lowest paid?

    Are you sure you are on the right site?

    •  Wow, you are so totally misinterpreting what (0+ / 0-)

      I'm saying, its hard to know how to respond.  You put so many words into my mouth that I didn't say, its actually pretty striking.

      The GOVT DOESN"T NEED ANYBODY"S MONEY!!!!.  The Govt is the currency ISSUER.  How much clearer can I possibly be.  When people like you maintain the false narrative that the Govt's budget works the same exact way as household budget, specifically that just like you and I, the Govt must receive income or borrow money BEFORE it can spend its own fiat money creation, you are doing just as much harm as the right wingers.  You are spreading a false myth about the Dollar Sovereigns ability to create money and give it to people.

      MMT = Reality

      "The Earth is my country and Science my religion" Christiaan Huygens.................... Please join our Kos group "Money and Public Purpose". The gold standard ended on August 15, 1971, its time we start acting like it.

      by Auburn Parks on Mon Sep 02, 2013 at 10:33:23 AM PDT

      [ Parent ]

    •  Hi Horace, I'll try to make things more simple. (0+ / 0-)

      Every dollar comes from the Fed Gov, the only entity capable of creating a dollar.

      Dollars are created out of thin air, cuz we have a fiat currency.

      If you had a money making machine in your kitchen, you would not need to tax me in order to spend.

      You'd just push a button.

      So does the fed gov.  It creates accounting marks on a computer key board.

      That's all there is to it.

      No taxes are involved.

      Thus, rich people, when they pay taxes, either high taxes or low taxes, are not contributing to fed gov spending.

      Simply because the fed gov is self funding and does not need outside sources of funding, like taxing -- or borrowing.

      Thus, the argument to treat the common person better is not coupled with the necessity of collecting taxes from rich folk.

      Taxes merely remove dollars from circulation.

      They don't fund anything.

        •  Yes, and it seems really important to me that (0+ / 0-)

          progressives decouple their social spending arguments from tax issues.

          There was a time when people understood our fiat currency better, like in the 30s when the people demanded a fiat currency to pay for social spending -- The New Deal.

          I doubt The New Deal would have ever gotten through if people back then thought that you'd first have to "steal" from one person to pay for another person.

          America has always been individualistic and had moral feelings against redistribution.

          So, the call wasn't for higher taxes.

          The call was for a form of currency that would be plentiful enough such that, no matter how much the rich might hoard money, there'd always be more.

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