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View Diary: Bait and Switch, CEO Style (11 comments)

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  •  Yes, but it is Congress that has written the tax (1+ / 0-)
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    codes and it is Congress that is opting to restrict expenditures to promote the general welfare. It is also Congress that is tasked with managing the currency. Doling out the currency to advantage their own retention of office is a neat trick. It's actually within their prerogative to spend dollars into the economy. When they do it to advantage themselves down the road, they are behaving just like the Unjust Steward in the Biblical parable and the "master's" recourse is the same it was two thousand years ago. Unjust stewards have to be fired.
    But, our Congress critters have learned a thing or two. They've set up a convoluted system involving the Federal Reserve and subsidiary banks through which dollars are laundered before the Congress retrieves them to pass out. It's sort of like the wage earner in a household claiming he can't pay the bills because "the little woman" has been profligate. Congress arguing that pensions cannot be paid because the war has cost too much is much the same--or would be, if Congress weren't the issuer of dollars in the first place.
    As it stands, Congress pretending it doesn't know where money comes from is like pretending not to know where babies come from (which may be true of some).
    Why does the President go along? Because the Executive does not have the power of the purse. Congress does.
    Why, if Congress can issue dollars for what needs to be done on the public's behalf does it bother to collect taxes? That's a good question and the answer is to keep the currency moving through the economy instead of being hoarded by hoarders and speculators, as is happening now because the rates on corporate profits aren't high enough and some people are still convinced that, if they hold on to the dollars, they'll be worth more later.
    That currency is worthless ever since the bands to gold were cut in 1971 still hasn't sunk in.
    Some people simply refuse to believe that every dollar is nothing more than a certified IOU -- monetary certificates, like marriage certificates, are symbols of obligations. Of course, people who shy away from obligations of all kinds, can't handle that truth.

    We organize governments to deliver services and prevent abuse.

    by hannah on Wed Apr 10, 2013 at 08:20:15 AM PDT

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