Reuters article talks additional COVID PSP...
02-13-2021 | 06:20 AM
#62
Gets Weekends Off
Joined: Aug 2020
Posts: 2,657
Likes: 116
02-13-2021 | 11:54 AM
#64
Gets Weekends Off
Joined: Dec 2012
Posts: 181
Likes: 0
That's astute advice for households and local governments, but not for governments who utilize a fiat currency. If our federal government spends less that it takes in (through taxation) then where are they getting that surplus from? From net private savings, that is where. It cannot come from anywhere else.
02-13-2021 | 01:45 PM
#65
Gets Weekends Off
Joined: Aug 2020
Posts: 2,657
Likes: 116
There are two different problems. One is a tax system that enables political corruption and penalizes individual and business success. The other is a government that spends money like a drunken sailor.
02-13-2021 | 02:25 PM
#67
Gets Weekends Off
Joined: Aug 2020
Posts: 2,657
Likes: 116
That’s the basis of the Fair Tax movement, but that would require politicians to vote to remove a major source of money and power. Several years ago a state politician was supporting the idea during an election. The people running against him ran adds about how he wanted to eliminate the child tax credit and mortgage deduction, they left out the part about eliminating income taxes completely. Like I said earlier, a politician will slit their wrist with support for a consumption tax about the time that we lobby to end cabotage restrictions.
02-13-2021 | 03:14 PM
#68
Line Holder
Joined: Apr 2013
Posts: 92
Likes: 0
From: Banned
That's astute advice for households and local governments, but not for governments who utilize a fiat currency. If our federal government spends less that it takes in (through taxation) then where are they getting that surplus from? From net private savings, that is where. It cannot come from anywhere else.
02-13-2021 | 03:25 PM
#69
Gets Weekends Off
Joined: Dec 2012
Posts: 181
Likes: 0
Yes, exactly!
But only at a level where the government itself creates the money. So at a local or state level the budgets do have to be balanced. Also, households need to balance their budgets (or should balance them).
But only at a level where the government itself creates the money. So at a local or state level the budgets do have to be balanced. Also, households need to balance their budgets (or should balance them).
