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The govt has plenty of revenue. Go look at any CAFR. They all have profits. They just never call them profits. They call it revenue, assets, business activities etc... The budget is what they choose to spend. People do not discuss what they are actually making through incoming monies and largely investments.
Then they get to claim future so called debts or payments against current profits. People need to follow the money and go look at the actual accounting and data. Some states, for example, are more transparent in how they carry money forward, whereas others are not. However, people need to start looking at the accounting and not discussing headlines about budgets. Look at who owns most of that so-called debt.
This is how they own everything. Most if not all publicly traded corps are shareholder controlled by govt. The govt sent the jobs offshore to make more money for those corps and their investment funds. Jobs went to Asia because the govt sent them there.
The way I would put it is they have very little limit on buying power. Given that Treasuries are considered the most reliable asset, and they can create it at any time, that becomes apparent. Basically da guberment prints money when it goes into debt, a very difficult apparent paradox to overcome; but a failure to do so will poison any understanding of what is going on.
Listen, saying that the $17,000,000,000,000 national debt isn't that big a deal comes across as highly disingenuous. Sure, the US has other problems too like the fact that every day our population is getting older and will soon draw even more heavily on programs like Social Security and Medicare which are already HUGE chunks of our nation's deficit spending.
The national debt is simple the money supply in circulation. It is already used like money like large bills and when they mature like smaller bills. Its the money supply.
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I'm a person of action and one action I'd like to take to alleviate run away government spending is repealing the USA PATRIOT Act. Apparently the brilliant New Jersey Congressman Rush Holt agrees.
Yeah, this is the one guy that beat IBM's supercomputer Watson in the game show Jeopardy.
I only care about the facts that apply. I agree government spending is on mostly crap. Its owned by Wall Street banks so no surprise . I'd love to repeal the patriot act.
Deficits are not spending. They are very different things which when caused by tax reduction isn't spending at all. There is certainly a relationship between the two, but deficits essentially creates money, but it is not known where without context. A FICA holiday would print money for anyone who works, or they could bailout banks, or they could decide to increase corn subsidies , or they could spend it on a national highway. All may add to the deficit revenue neutral, but in very different ways do they add money to the economy.
The way I would put it is they have very little limit on buying power. Given that Treasuries are considered the most reliable asset, and they can create it at any time, that becomes apparent. Basically da guberment prints money when it goes into debt, a very difficult apparent paradox to overcome; but a failure to do so will poison any understanding of what is going on.
Having buying power, printing money or even money as debt are separate issues though from actually owning something.
My point was that as controlling shareholder those corps are directed through proxy votes, in this case the govt is the largest shareholder. The job offshoring was intentional. The inflationary aspects add to the problem for the avg person, but as far as the municipal corps are concerned inflation isn't really an issue.
We are simply talking about corporate profits, both for transnationals and municipal corps.
Having buying power, printing money or even money as debt are separate issues though from actually owning something.
My point was that as controlling shareholder those corps are directed through proxy votes, in this case the govt is the largest shareholder. The job offshoring was intentional. The inflationary aspects add to the problem for the avg person, but as far as the municipal corps are concerned inflation isn't really an issue.
We are simply talking about corporate profits, both for transnationals and municipal corps.
All that is necessary is control. Owning something is a liability compared to unofficial control. That is why Trusts are so popular with the wealthy. They use and abuse all the assets, but hey, don't tax them like they actually own it. Either way we know about the revolving door of government and industry.
All that is necessary is control. Owning something is a liability compared to unofficial control. That is why Trusts are so popular with the wealthy. They use and abuse all the assets, but hey, don't tax them like they actually own it. Either way we know about the revolving door of government and industry.
True, but in this case govt gets to do both and the liability is on the avg so-called taxpayer/citizen. They also get special accounting that other businesses don't get and they get to keep the profits. If legal changes were made regarding accounting practices and the CAFRs the so-called profit would stand a better chance of making it's way back to it's source and not be siphoned and hoarded by govt. All taxation could end with the same basic system we have now to benefit those funding it.
quote: This means the state retains $600 billion in taxpayer assets for $1 billion in income. If California paid its debt and returned these assets, each of California’s 12 million households would receive $35,000, and pay a $83 tax to equal the $1 billion income of the state’s previous $600 billion fund. Or if we had universal health care, Californians would annually save between $10 and $30 billion
The US is currently printing 85Bn a month to fake growth.
If you could only use this printed money to repay bebt it would take 16.6 years to pay back 17 trillion, doesn't seem so bad!.
oh wait thats a frack ton of money printing, good thing other countries are not making moves to move away from the $US as the reserve currency, otherwise there would be a huge storm on the horizon that would make the 17 trillion look like a minor problem
The US is currently printing 85Bn a month to fake growth.
If you could only use this printed money to repay bebt it would take 16.6 years to pay back 17 trillion, doesn't seem so bad!.
oh wait thats a frack ton of money printing, good thing other countries are not making moves to move away from the $US as the reserve currency, otherwise there would be a huge storm on the horizon that would make the 17 trillion look like a minor problem
Not exactly.
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In normal times, the Fed tries to guide the economy by buying and selling short-term U.S. debt, which effectively lets it control short-term interest rates. Since 2008, however, short-term rates have been near zero, which means that they can’t go lower (since people would just hoard cash instead). Yet the economy has remained weak, so the Fed has tried to gain traction through unconventional measures — mainly by buying longer-term bonds, both U.S. government debt and bonds issued by federally sponsored home-lending agencies. http://www.nytimes.com/2013/09/16/op...f=opinion&_r=0
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