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View Diary: New report: More seniors living in poverty, and they want to cut Social Security? (83 comments)

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  •  Raising taxes is a not only a political loser (2+ / 0-)
    Recommended by:
    rmonroe, TheSpectator

    but  it is totally unnecessary.  Taxes do not fund the Govt.  The Federal Govt is not like a household, business, or state govt that must tax or borrow in order to get dollar to spend.  The Federal Govt is the ISSUER of the US dollar.  The US Dollar comes form the US Govt, its our invention.  The Govt can create and spend as much money as it wants, the US dollar is not a commodity, this is a false neo-liberal economic myth that we on the left must stop perpetuating if we ever want to beat the deficit terrorists.  Americans don't like taxes so every time you make the claim that we need to "get the money" from somewhere or one you are causing us to lose the battle.  The only question is, will a more generous national retirement program cause our economy to reach full employment and more causing increasing inflation if we don't offset the new money with a reduction in aggregate demand through taxation?  The question should never be that we MUST tax people in order to spend money.  The gold-standard has been over for 40 YEARS!!! its time we start accepting the reality of how our modern monetary operations work.

    MMT = Reality
    neweconomicperspectives.org
    http://mythfighter.com/...

    Please join our group "Money and Public Purpose" as we are the only group that analyzes the economy through the lens of our post-gold standard fiat currency reality

    "The Earth is my country and Science my religion" Christiaan Huygens

    by Auburn Parks on Wed May 22, 2013 at 08:32:59 AM PDT

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