Beware the Soros zombies
- Thread starter Tom B
- Start date
I now laugh when I hear this "the rich pay more taxes than anyone". Of course they do. In a banana republic the rich probably pay a far larger share, maybe even 99% of all taxes collected.
This is important.
If the govt borrows the money and the Fed does not create money out of thin air... as you say.
How the does govt spending create inflation? other than spot inflation it may create by overpurchasing some good or service?
If the govt borrows the money and the Fed does not create money out of thin air... as you say.
How the does govt spending create inflation? other than spot inflation it may create by overpurchasing some good or service?
piezoe has already lost this battle. he knows we have brought in 40 to 60 million immigrants since Reagan. half of them who don't pay taxes.
so I ask piezoe if reagan cut taxes in the 80s. We have 40 million new immigatns and the bottom and 45% of the country does not pay federal income tax. On what basis can he possible say Reagan's cuts have hurt the poor?
In short he can only joke about his reagan canard because he, soros and the left are so full of shit about Reagans tax cuts hurting the poor.
Its really demented lies.
http://www.marketwatch.com/story/45-of-americans-pay-no-federal-income-tax-2016-02-24
45% of americans pay no federal income tax.
Piezoe... try and bullshit your way out of that?
so I ask piezoe if reagan cut taxes in the 80s. We have 40 million new immigatns and the bottom and 45% of the country does not pay federal income tax. On what basis can he possible say Reagan's cuts have hurt the poor?
In short he can only joke about his reagan canard because he, soros and the left are so full of shit about Reagans tax cuts hurting the poor.
Its really demented lies.
http://www.marketwatch.com/story/45-of-americans-pay-no-federal-income-tax-2016-02-24
45% of americans pay no federal income tax.
Piezoe... try and bullshit your way out of that?
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Too bad uncle Milty (Milton Friedman) is not still with us, he could answer your question much better than I.
You may have forgotten that the fed has billions of dollars of income every year. Not all existing dollars are in circulation in the U.S. economy. If Treasury borrowing has the net effect of increasing the amount of money in circulation, and it does, inflation can result, and it often does. It depends. For example, just selling bonds to the Fed, via the secondary market, when the Fed uses cash on hand to purchase them (a common transaction) increases the amount of money in circulation. The rapidity of effect then depends, among other things, on the subsequent velocity of the money put into circulation..
QE aside, the Fed routinely buys and sell bonds. When they buy bonds , that increases the amount of money in circulation. When they sell bonds, that decreases the amount of money in circulation.
Although the Fed and Treasury working together may create new money out of thin air as you say to exchange for old money taken out of circulation or to adjust for demographic changes, etc., generally speaking new money is created out of debt, not out of thin air. QE for example creates new money out of debt. Real printing is the creation of money out of thin air. There is a huge difference, but it is seldom appreciated.
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and so we end up with a government for the taxpayers
Indeed. And a government for the few.
that was all specious baloney absent any sort of citation to reality.
I
1. In the past Piezoe happily told us and its true. Profits at the end of the year go back to the govt.
So, when the govt borrows the money by selling bonds. People purchase the bonds and no new money need be made or created. Correct.
a. If the FED makes the money or uses money it previously made to buy the buys that would be inflationary. But that is the FEDS choice. The bonds could be sold and no new money need be made.
hence no new systemic inflation should be caused by govt borrowing because no new money is created.
2. So any of the other info Piezoe introduced here is
a. a red herring
b. a wild goose chase
c. and proof its the FED creates the money with keystokes as well as printing presses. For instance the FED created trillions of dollars when they credited its member banks trillions dollars for the at the time almost worthless mortgage bonds they bought. That was money created by the govt. Its was Federal Reserve Debt credited to the banks accounts.
3. The last time the Federal Govt made money it looked like this...
I
1. In the past Piezoe happily told us and its true. Profits at the end of the year go back to the govt.
So, when the govt borrows the money by selling bonds. People purchase the bonds and no new money need be made or created. Correct.
a. If the FED makes the money or uses money it previously made to buy the buys that would be inflationary. But that is the FEDS choice. The bonds could be sold and no new money need be made.
hence no new systemic inflation should be caused by govt borrowing because no new money is created.
2. So any of the other info Piezoe introduced here is
a. a red herring
b. a wild goose chase
c. and proof its the FED creates the money with keystokes as well as printing presses. For instance the FED created trillions of dollars when they credited its member banks trillions dollars for the at the time almost worthless mortgage bonds they bought. That was money created by the govt. Its was Federal Reserve Debt credited to the banks accounts.
3. The last time the Federal Govt made money it looked like this...
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