Robert Reich has mad drawing skills
- Thread starter bigarrow
- Start date
What you have seen is Reich blowing Right Wing faith-based economics out of the water in the time it takes to brush your teeth. No, it doesn't take only two minutes to learn how the economy works and what's wrong with it. It just takes that long to illustrate why supply siders don't have a clue.
If you say so. But Reich chose to be more diplomatic about it.
This is so simple and shallow. For anyone to agree with the philosophy behind these ideas is without knowledge.
One example: Social Security payments for income over 108k
Over 108k the amount paid into the system is beyond the point ,based on actuaries table, that one can receive back in their lifetime.
Since by law Social Security is a trust and not a tax it would be illegal to force payment over 108k.
What Reich really wants to do it change Social Security from a trust to a tax
One example: Social Security payments for income over 108k
Over 108k the amount paid into the system is beyond the point ,based on actuaries table, that one can receive back in their lifetime.
Since by law Social Security is a trust and not a tax it would be illegal to force payment over 108k.
What Reich really wants to do it change Social Security from a trust to a tax
It's neither a trust or a tax. It's a slush fund for congress to embezzle at their every whim.
Reich is one of those lefties that gives me an allergic reaction just seeing him. I can't stand academics who treat their religion as scientific truth, then hit the political circuit like some sort of revival preacher.
I have thought about that one a little. Actually what Congress did was logical, what Al Gore said was not. Maybe we could make a comic book series as that would seem to please some folks around here.
So what would a 'lockbox' be? - A bank/investment firm etc.. So which? It would have to be the Fed, only logical choice since unloading a trillion plus into private hands would be a political nightmare. What would the Fed do with the money? Buy Bonds of course since by sitting on it, inflation would destroy buying power. Stocks are too risky and politically unpalatible. What would the treasury do with the money? Well since they simply manage revenue for the President and Congress to spend, the money would be spent as it has. Lockboxs are nonsensical for such large sums of money because once you are talking amounts that are a good fraction of GDP, you start to become the economy just as larger players become the market.
It has a sense to it. The bank for the SS trust is the american economy. It would work except that the gov't has borrowed much more than that, invested poorly in the economy, and the economy isn't strong enough to give positive returns.
I have thought about that one a little. Actually what Congress did was logical, what Al Gore said was not. Maybe we could make a comic book series as that would seem to please some folks around here.
So what would a 'lockbox' be? - A bank/investment firm etc.. So which? It would have to be the Fed, only logical choice since unloading a trillion plus into private hands would be a political nightmare. What would the Fed do with the money? Buy Bonds of course since by sitting on it, inflation would destroy buying power. Stocks are too risky and politically unpalatible. What would the treasury do with the money? Well since they simply manage revenue for the President and Congress to spend, the money would be spent as it has. Lockboxs are nonsensical for such large sums of money because once you are talking amounts that are a good fraction of GDP, you start to become the economy just as larger players become the market.
It has a sense to it. The bank for the SS trust is the american economy. It would work except that the gov't has borrowed much more than that, invested poorly in the economy, and the economy isn't strong enough to give positive returns.