Is the national debt of the United States significantly a practical joke?

[task0778]

The USA fiat Dollars are backed up by the PRODUCTIVITY OF THE AMERICAN WORKER

The US dollar (fiat or not) is backed by the full faith and credit of the US Gov't. The labor of the American worker is only a part of the US economic model; capital investment, management, gov't regulations, and the legal systems are also part of the whole thing.

As far as I can tell, the Antigonish Movement is based on cooperatives; everybody contributes to the benefit of everybody. That might work in some local instances, but for the most part it doesn't last. If I'm not mistaken, the pilgrims tried that 400 years ago and it failed.

 

[g5000]

A joke that is being played on ninety nine, point nine, nine percent of Americans by a tiny group of extremely wealthy and influential people and the owners of BigMedia and BigOil who cooperate with them?

Economist Milton Friedman gave the key to paying down the National Debt of the United States Rapidly,
an Unconditional but Taxable Basic Minimum Income Supplement that is at the same rate, [the same number per month], but it is Unconditional and not based on your income last month or even last year, [which means that little or no bureaucracy or dishonest bureaucrats are needed to make this work].

Here is the way to finance all of this:

And here is the goal that Economist Milton Friedman told us would be the key to greatly increasing the productivity of Americans by no longer rewarding lethargy and punishing productivity.

We must come to a better understanding of this topic now because Artificial Intelligence and robotics will likely cause twenty, thirty or even forty percent unemployment over the next two or three decades.

Thread 'Mo Gawdat predicts that A. I. will lead to B. M. I? Is he correct?'

Nov 22, 2025

Mo Gawdat predicts that Artificial Intelligence and robotics will lead to the need for B. M. I., is he correct?

I believe that he is but there are certain aspects of the history of the United States that need to be widely understood before we can get this right.

We must understand that in theory three hundred and fifty million Americans own the USA Dollar itself, [but elected officials have been convinced that they own it due to the influence of a group know as "Neo-Malthusians."

"Ex-Google Exec (WARNING): The Next 15 Years Will Be Hell Before We Get To...

• DennisPTate
• Replies: 35
• Forum: Science and Technology

​

Hey! It's nice to see another admirer of Milton Friedman on this forum! I thought I was the only one.

 

[g5000]

Economist Milton Friedman gave the key to paying down the National Debt of the United States Rapidly,
an Unconditional but Taxable Basic Minimum Income Supplement

Where did he say giving everyone a handout is the key to paying down the debt?

Friedman's "negative income tax" would replace ALL welfare programs.

Rather than all the various welfare programs we have now, with their massive bureaucracies and red tape and fraud and costs, there would be one program which would provide a cash payment to all low-income people below a certain income threshold. The payout would decrease in increments as their income increased.

His idea was kind of like the EITC, which is the only tax expenditure proven to increase worker productivity and the only one I would not mind left in place under my "ban all tax expenditures" plan to pay off our debt.

 

[Toddsterpatriot]

Friedman's "negative income tax" would replace ALL welfare programs.

Rather than all the various welfare programs we have now, with their massive bureaucracies and red tape and fraud and costs, there would be one program which would provide a cash payment to all low-income people below a certain income threshold. The payout would decrease in increments as their income increased.

His idea was kind of like the EITC, which is the only tax expenditure proven to increase worker productivity and the only one I would not mind left in place under my "ban all tax expenditures" plan to pay off our debt.

Right. But it's not a handout to everyone. Explain that to Dennis.