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

[Stephanie]

OMG, I don't want any of these people from MMT or the op poster giving me money advice.

 

[Dovahkiin]

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

LOL. Stagnant wages, a private sector increasingly relying on credit, high unemployment when you look at the U6, crumbling infrastructure...

 

[Dovahkiin]

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

through the president who appoints the Chairman

And you believe voters care about who runs the fed? That's not how they vote. I'll agree with you when voters make that an issue.

 

[Dovahkiin]

OMG, I don't want any of these people from MMT or the op poster giving me money advice.

You're right, household debt is completely different from the national debt.

 

[EdwardBaiamonte]

And you believe voters care about who runs the fed? That's not how they vote. I'll agree with you when voters make that an issue.

they don't care nor does the president care much as long as the Fed seems to be on course with the most current wisdom on central bank management which is 1) no inflation, 2) provide liquidity to prevent in problem in one area of the economy spreading to the rest of the economy.

 

[EdwardBaiamonte]

OMG, I don't want any of these people from MMT or the op poster giving me money advice.

You're right, household debt is completely different from the national debt.

she's right, the last thing we need is libturds taxing our money and guessing how to spend it or guessing how we should spend what's left in our pockets. Thats how you get a soviet result.

 

[Dovahkiin]

And you believe voters care about who runs the fed? That's not how they vote. I'll agree with you when voters make that an issue.

they don't care nor does the president care much as long as the Fed seems to be on course with the most current wisdom on central bank management which is 1) no inflation, 2) provide liquidity to prevent in problem in one area of the economy spreading to the rest of the economy.

The current management has failed us for decades. I laugh at people who think QE actually does something. Ever heard of NAIRU? People actually believe that, assuming V is constant and other hilarious errors..

 

[Dovahkiin]

OMG, I don't want any of these people from MMT or the op poster giving me money advice.

You're right, household debt is completely different from the national debt.

she's right, the last thing we need is libturds taxing our money and guessing how to spend it.

Hey, genius, the government doesn't spend our tax dollars. It destroys them. The government can spend without raising any revenue.

 

[EdwardBaiamonte]

Hey, genius, the government doesn't spend our tax dollars. It destroys them.

it destroyes them. You mean it burns them?? Where exactly???

 

[Dovahkiin]

Hey, genius, the government doesn't spend our tax dollars. It destroys them.

it destroyes them. You mean it burns them?? Where exactly???

Let's take the SS trust fund for example. It's literally just a record. Our tax dollars don't actually go to "pay" for anything on a federal level. States, however, need tax dollars to fund since they can't produce dollars from thin air.

 

[EdwardBaiamonte]

I laugh at people who think QE actually does something...

like the way you change subject each time you learn the absurdity of your position.

QE provided liquidity and bank profits and was an instrumental part in avoiding a depression.

 

[EdwardBaiamonte]

Hey, genius, the government doesn't spend our tax dollars. It destroys them.

it destroyes them. You mean it burns them?? Where exactly???

Let's take the SS trust fund for example. It's literally just a record. Our tax dollars don't actually go to "pay" for anything on a federal level. States, however, need tax dollars to fund since they can't produce dollars from thin air.

dear, your answer if you had one would be as follows:

The best example of where the govt collects and destroys our tax dollars is........

 

[EdwardBaiamonte]

Our tax dollars don't actually go to "pay" for anything on a federal level..

100% stupid. So then what do they do with the money they collect????? Its like talking to a child