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Old 07-12-2018, 12:31 PM   #3171
tsunamiSD
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Default Republican tax cuts and the deficit

If you went to any Republican leader and said, "You've always said deficits are bad and we should have a balanced budget so what about this?", the answer would be something about how, yes, "Maybe the numbers do break down that way but these cuts will stimulate the economy and eventually, we'll have not only that balanced budget but a surplus!"

Guess Who Benefits From Republican Tax Cuts?
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ITEP figures that total taxes paid in 2018 are about $600 billion less than they would be if we had just left the tax code alone. That's nearly the entire federal deficit projected for this year.

Just to make sure you get that: Republican tax cuts since 2000 are responsible for nearly the entire federal deficit. Repeal them all and the budget would be almost balanced.
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Old 07-12-2018, 01:19 PM   #3172
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Originally Posted by tsunamiSD View Post
If you went to any Republican leader and said, "You've always said deficits are bad and we should have a balanced budget so what about this?", the answer would be something about how, yes, "Maybe the numbers do break down that way but these cuts will stimulate the economy and eventually, we'll have not only that balanced budget but a surplus!"

Guess Who Benefits From Republican Tax Cuts?

Much like with abortion - which they care deeply about, until their mistress needs one - Republicans deeply care about the deficit - until one of their own sits in the White House. Trump is a mainstream American conservative in that regard at least, because these policies would have been enacted under any other GOP candidate as well. It's one of the main reasons why an overwhelming number of conservatives continue to support him. They do love their tax cuts.
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Old 07-12-2018, 09:41 PM   #3173
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Inflation up 2.9% last month, outstripping wage growth.

https://www.washingtonpost.com/busin...=.a7d0a88e1452

The inflationary effect of Trump's tariffs haven't kicked in. Needless to say, we will all be paying more for less by year end. That's nothing new. In desperation, I went to Walmart to stock up on groceries yesterday, because Safeway has been banging up prices since Albertsons bought them out. I was disappointed by the reduced selection and price increases on many staples. So, Safeway is passing on wholesale increases.

Economics isn't really that complicated. The government wants to spend more than it takes in. So, it prints up more currency and pays back loans with this "funny money." Lenders know they are getting screwed and demand higher interest rates for new loans. Prices rise because the real value of the currency is less. Thus, your raise and tax cut look good on paper, but you can't buy or save as much.

Just wait until you are forced out of the workplace and try to live on a fixed income. It is a long time between steaks.
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Old 07-12-2018, 09:56 PM   #3174
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Paying for Tesla's Gigafactory.

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'Schools in Washoe county, which includes Sparks, are overcrowded and deeply in debt, so much so that voters in 2016 approved a sales tax hike to help plug the gap. Even so, fresh budget cuts could eliminate bus routes for nearly 4,000 elementary and middle school students in an effort to save $550,000.

Tesla, meanwhile, has sold $131m in tax credits to casinos thanks to transferable tax credits the cherry on the cake used to lure Musk.'

https://www.theguardian.com/cities/2...la-gigafactory
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Old 07-12-2018, 10:26 PM   #3175
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Originally Posted by Brian249x View Post
Inflation up 2.9% last month, outstripping wage growth.

https://www.washingtonpost.com/busin...=.a7d0a88e1452

The inflationary effect of Trump's tariffs haven't kicked in. Needless to say, we will all be paying more for less by year end. That's nothing new. In desperation, I went to Walmart to stock up on groceries yesterday, because Safeway has been banging up prices since Albertsons bought them out. I was disappointed by the reduced selection and price increases on many staples. So, Safeway is passing on wholesale increases.

Economics isn't really that complicated. The government wants to spend more than it takes in. So, it prints up more currency and pays back loans with this "funny money." Lenders know they are getting screwed and demand higher interest rates for new loans. Prices rise because the real value of the currency is less. Thus, your raise and tax cut look good on paper, but you can't buy or save as much.

Just wait until you are forced out of the workplace and try to live on a fixed income. It is a long time between steaks.
Is it allowed to create and print local money in the USA that does not follow US$ inflation rate?

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Old 07-13-2018, 12:45 AM   #3176
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Is it allowed to create and print local money in the USA that does not follow US$ inflation rate?

It is called counterfeiting and will get you a long time in a free, to you, very small cell.


In the long ago banks were allowed to print their own money but the money was only backed by the particular bank's assets. I the bank went tits up so did the value of the money.
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Old 07-13-2018, 01:07 AM   #3177
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Originally Posted by SanteeFats View Post
It is called counterfeiting and will get you a long time in a free, to you, very small cell.


In the long ago banks were allowed to print their own money but the money was only backed by the particular bank's assets. I the bank went tits up so did the value of the money.
No... I'm not speaking about counterfeiting even if I would be a fan of it.

No, in European areas, villages, departments are allowed to create their own local money, but... sadly it's often relied to a 1/1 ratio with the national money.

The idea would be, to create a local money that is relied to another object, like... the kilo of bread as example. You could call it: "The SanteePesos"

During all the time, people having a SanteePesos would be able to get one kilo of bread.
Fuck off inflation rate.
Like that you become free of the Federal State and all the plutocracy who wants to run you through the monetarian slavery that you don't control by yourself.

That's what I'd call ... a peaceful form of rebellion.
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Old 07-13-2018, 02:00 AM   #3178
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Originally Posted by xyzde69 View Post
No... I'm not speaking about counterfeiting even if I would be a fan of it.

No, in European areas, villages, departments are allowed to create their own local money, but... sadly it's often relied to a 1/1 ratio with the national money.

The idea would be, to create a local money that is relied to another object, like... the kilo of bread as example. You could call it: "The SanteePesos"

During all the time, people having a SanteePesos would be able to get one kilo of bread.
Fuck off inflation rate.
Like that you become free of the Federal State and all the plutocracy who wants to run you through the monetarian slavery that you don't control by yourself.

That's what I'd call ... a peaceful form of rebellion.
There is no guarantee that your "Santeepeso" would hold its value. Money, remember, has value only because we all agree that it does.

If you let people start doing that, you'd have all sorts of currency of dubious value floating about, just like we did back in the days of private bank notes. This is why we now have a central federal currency. It's worth it knowing that when you walk into Quik Trip or Target to pay for your gas or groceries your dollars will be accepted without question.

Unless you want to stand there with a handful of Santeepesos arguing with the cashier about Marx and free economies while you wait for the police to arrive.

Here's a case of a guy who thought he was going to make his own money and stamp it with official denominations and get it circulating:

https://www.nytimes.com/2012/10/25/u...hind-bars.html

Not really a smart plan. The government takes a very dim view of such goings on.

This guy was doing precious metal coins, you have to wonder if the metal content in those coins was what he said it was. Just one of the things you have to worry about when a private individual is allowed to coin money.
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Old 07-13-2018, 09:09 AM   #3179
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There is no guarantee that your "Santeepeso" would hold its value. Money, remember, has value only because we all agree that it does.

If you let people start doing that, you'd have all sorts of currency of dubious value floating about, just like we did back in the days of private bank notes. This is why we now have a central federal currency. It's worth it knowing that when you walk into Quik Trip or Target to pay for your gas or groceries your dollars will be accepted without question.

Unless you want to stand there with a handful of Santeepesos arguing with the cashier about Marx and free economies while you wait for the police to arrive.

Here's a case of a guy who thought he was going to make his own money and stamp it with official denominations and get it circulating:

https://www.nytimes.com/2012/10/25/u...hind-bars.html

Not really a smart plan. The government takes a very dim view of such goings on.

This guy was doing precious metal coins, you have to wonder if the metal content in those coins was what he said it was. Just one of the things you have to worry about when a private individual is allowed to coin money.
I read your nytimes link. What a tragedy. American government is dictatorial. That's sure.

Then I followed the link on the nytimes article: Ithaca HOURS Community Currency

So... yep. In the USA you can create your local money respecting several conditions.

I think that's a good thing to diminish power of the government.
If you want to become free, do not respect when you think that your government is unfair with you. (Like devaluating your "hard-earned" money)

Here are local currencies in my area.

Le farinet.

J.S. Farinet was a counterfeiter who died in 1880.
He still has fans today, because he defended resistance against authority.

Here the leman


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Old 07-13-2018, 01:05 PM   #3180
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^ The Ithaca HOUR is an HOUR, not a dollar. So the government won't care, as long as you pay taxes on it, as it would be scheduled as a taxable barter item.

It's much the same as the old wooden "nickels" you used to be able to use at the drug store, they are just doing it on a larger scale.

They are not stamping "Dollar" or "Cent" on their money, or claiming it is an official instrument for payment, which is what got the other guy into trouble.

Currency and barter chits, which these are, are two different beasts.
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