Philip Pilkington: Taxation, Government Spending, the National Debt and MMT

[Dovahkiin]

Err, deficit spending is one example..

how does deficit spending help rather than hurt economy???

Makes sure the private sector doesn't fall into debt if done correctly. Employs americans, less dollars being taxed away from us.. (Deficits tend to be caused by tax cuts and spending, a combination of both.)

 

[Dovahkiin]

Taxes can help to reduce aggregate demand. ..

thats moronic it is not the govts business to manipulate how much we demand to buy stuff. This is a free country

Yes, it is indeed the governments business since the private sector is completely dependent on the dollar, and it is the governments job to maintain the economy for the good of the people. The government controls the dollar.

 

[EdwardBaiamonte]

Spending is how dollars get added to the economy.

wrong wrong wrong!! The Fed exists to add or subtract dollars from the economy!! Fiscal policy has no affect!! Do you understand?

 

[Dovahkiin]

Spending is how dollars get added to the economy.

wrong wrong wrong!! The Fed exists to add or subtract dollars from the economy!! Fiscal policy has no affect!! Do you understand?

The fed does indeed have the ability to add and subtract dollars from the economy. Fiscal policy does indeed have an affect. Saying otherwise is juvenile.

 

[EdwardBaiamonte]

The government controls the dollar.

yes the fed controlls but as Bernanke said they control it as if we were on a Gold standard so they are not really needed, and certainly they don't invent things so certainly cant help the economy.

 

[Dovahkiin]

The government controls the dollar.

yes the fed controlls but as Bernanke said they control it as if we were on a Gold standard so they are not really needed, and certainly they don't invent things so certainly cant help the economy.

I, and others, find it absurd that people continue to act like we're on a gold standard. Of course the government doesn't invent things, but the government spends to promote people that do: NASA being one example.

 

[EdwardBaiamonte]

Fiscal policy does indeed have an affect.

yes it has a affect but not on the quantity of money. and never a goof affect since it distorts the real economy and slows it down.

 

[EdwardBaiamonte]

[
I, and others, find it absurd that people continue to act like we're on a gold standard..

Dear, Bernanke is a genius, he just prevented a Depression and says he operated the Fed as if we were on a gold standard. Do you understand?

 

[EdwardBaiamonte]

: NASA being one example.

so you are guessing that the billions spend on NASA achieved more than if the money had been left in taxpayers hands???

 

[Dovahkiin]

Fiscal policy does indeed have an affect.

yes it has a affect but not on the quantity of money. and never a goof affect since it distorts the real economy and slows it down.

Absolute absurdity. Ever since we've abandoned fiscal policy, wages have been stagnant, inequality has boomed, small businesses are feeling left behind.. The private sector takes on debt when we don't run deficits, and they can't sustain it. Think about it, credit cards, loans.. Not healthy. Proven to be unhealthy, look what happened with the Clinton surplus. The "quantity of money" is directly affected. Federal deficits add to savings.

 

[Dovahkiin]

: NASA being one example.

so you are guessing that the billions spend on NASA achieved more than if the money had been left in taxpayers hands???

*sigh* the government controls the dollar, and us taxpayers dont have a say in what is done with the dollar. We should be happy we have a government that manages the economy at all.

 

[EdwardBaiamonte]

Ever since we've abandoned fiscal policy, .

dear, the govt has a monetary and fiscal policy, it can't abandon either. Care to try again?

 

[Dovahkiin]

[
I, and others, find it absurd that people continue to act like we're on a gold standard..

Dear, Bernanke is a genius, he just prevented a Depression and says he operated the Fed as if we were on a gold standard. Do you understand?

He's not bright. Forcing the private sector to take on debt by cutting deficits is a horrible idea.

 

[Dovahkiin]

Ever since we've abandoned fiscal policy, .

dear, the govt has a monetary and fiscal policy, it can't abandon either. Care to try again?

We've moved towards monetary policy over fiscal policy and its been this way for decades. You know that's what I meant.

 

[EdwardBaiamonte]

*sigh* the government controls the dollar, and us taxpayers dont have a say in what is done with the dollar.

you mean the Fed controls the dollar and the people have control through the president who they elect.

 

[EdwardBaiamonte]

Ever since we've abandoned fiscal policy, .

dear, the govt has a monetary and fiscal policy, it can't abandon either. Care to try again?

We've moved towards monetary policy over fiscal policy.

dear you said we've abandoned fiscal policy which is 100% impossible

 

[Dovahkiin]

*sigh* the government controls the dollar, and us taxpayers dont have a say in what is done with the dollar.

you mean the Fed controls the dollar and the people have control through the president who they elect.

I wasn't aware we the people controlled the fed. We don't.

 

[Dovahkiin]

Ever since we've abandoned fiscal policy, .

dear, the govt has a monetary and fiscal policy, it can't abandon either. Care to try again?

We've moved towards monetary policy over fiscal policy.

dear you said we've abandoned fiscal policy which is 100% impossible

We've greatly moved towards monetary policy over fiscal policy, that was what my post meant, I'm not being literal, "dear."

 

[EdwardBaiamonte]

We've moved towards monetary policy over fiscal policy and its been this way for decades. You know that's what I meant.

well we had a more aggressive monetary policy because it was needed to prevent a depression, but things have been steady for years now

 

[EdwardBaiamonte]

I wasn't aware we the people controlled the fed. We don't.

through the president who appoints the Chairman