Paul Krugman Demolishes Rightwing Myth -- Yet Again

[Dante Reawakened]

nope. More often right than wrong

https://www.masterclass.com/articles/paul-krugman-notable-works-guide

 

[Billiejeens]

nope. More often right than wrong

Never been right, not once
That's his charm.

 

[Admiral Rockwell Tory]

Let's have your urban residents eat without the food grown in rural areas.

 

[Dante Reawakened]

Never been right, not once
That's his charm.

wrong again

 

[Dante Reawakened]

Let's have your urban residents eat without the food grown in rural areas.

it's okay. Few farmers in population of rural areas.

stop and take a breath. Most people living in rural areas, the overwhelming majority -- are not farmers feeding the world. LOL

 

[Dante Reawakened]

Paul has hi Nobel. Trump has his envy

 

[Nostra]

Yasser Arafat has a Nobel Prize for PEACE.

Tells you all you need to know about that joke outfit.

 

[Mikeoxenormous]

You can send $100 to rural people and get food production, or oil, or minerals. What do you get from sending $100 to an inner city person?

A bunch of black people shooting other black people...

 

[buckeye45_73]

You can send $100 to rural people and get food production, or oil, or minerals. What do you get from sending $100 to an inner city person?

Crime, riots, pedophillia

 

[Dante Reawakened]

Paul has hi Nobel. Trump has his envy

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[Billiejeens]

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What is a hi noble?
Pronounced NO-ball

 

[Dante Reawakened]

What is a high noble?
Pronounced NO-ball

thanks for playing. Now move along little one

 

[Missouri_Mike]

That food production to feed chickens and cows?

Are you confused about where chicken and beef comes from?

 

[Pappadave1]

deny a fact:
The truth is that ever since the New Deal, Rural America has received special treatment from policymakers. It’s not just farm subsidies, which ballooned under President Donald Trump to the point where they accounted for around 40 percent of total farm income. Rural America also benefits from special programs that support housing, utilities and business in general.”


Krugman points out that although rural areas of the United States have some legitimate complaints — poverty, job losses — those areas “disproportionally benefit” from “major federal programs” because they “have a disproportionate number of seniors receiving Social Security and Medicare.”


“Because rural America is poorer than urban America,” Krugman observes, “it pays much less per person in federal taxes. So, in practice, major metropolitan areas hugely subsidize the countryside. These subsidies don’t just support incomes, they support economies…. What about rural perceptions of being disrespected? Well, many people have negative views about people with different lifestyles; that’s human nature.”

Except Social Security and Medicare aren't some government entitlement program. They both ARE, in fact, personal SAVINGS ACCOUNTS, paid into by eventual recipients for their lifetimes to withdraw as needed when retirement age is reached. Admittedly, the interest they earn is pretty poor compared to using a bank or annuity to do the same thing, but that's what they are in reality.

 

[Dante Reawakened]

Except Social Security and Medicare aren't some government entitlement program. They both ARE, in fact, personal SAVINGS ACCOUNTS, paid into by eventual recipients for their lifetimes to withdraw as needed when retirement age is reached. Admittedly, the interest they earn is pretty poor compared to using a bank or annuity to do the same thing, but that's what they are in reality.

Why was Social Security enacted? What state was the nation (seniors and disabled), in that caused the government to step in?

Are the government's guarantees safer than those of private financial interests? What happend with people's life savings that were invested in employer retirement accounts after Democratic administrations and legislatures (Reagan years came along)?

Medicare? Trust that to the insurance industry?

 

[Seymour Flops]

Wow, so he refuted "Rural Resentment," which I had never heard of.

Stopped reading when I saw the word "MAGAland." None but the most severe sufferers of TDS use the phrase MAGA as a pejorative.

It stands for "Make America Great Again," which doing is apparantly an anathema to Democrats.

 

[Seymour Flops]

Except Social Security and Medicare aren't some government entitlement program. They both ARE, in fact, personal SAVINGS ACCOUNTS, paid into by eventual recipients for their lifetimes to withdraw as needed when retirement age is reached. Admittedly, the interest they earn is pretty poor compared to using a bank or annuity to do the same thing, but that's what they are in reality.

That is not the reality, that is the cover story.

In reality, your social security payments are used to fund payments to previous contributors, in the world's largest and longest running Ponzi scheme. Any funds not needed to pay this year's recipients are given to the government to spend in exchange for treasury bonds. Eventually, the number of contributors will not be enough to fund the payments to the past contributors and those bonds will be cashed in.

The treasury will pay for those bonds by raising taxes or by kiting more debt. At some point they system will collapse of its own weight, likely slowly through reduced payments and increased minimum age requirements.