Swiss Back Channel Helped Defuse U.S.-Iran Crisis

[jem]

You don't see this on Youtube.


Now lets get to my argument about the fact when your Central Bank creates trillions of trillions of dollars... There is no need for personal income tax on the 99. something percent.

https://taxfoundation.org/summary-latest-federal-income-tax-data-2018-update/


The 99 percenters paid 67% of the 1.4 trillion in individual income taxes... in 2016.

That amount is 938 billion dollars.

The Fed is slated to create at least 9 trillion dollars with this repo program.
So that would eliminate income taxes for about a decade.

Last decade the Fed created 29 trillon dollars for the bank bailout... by some counts. (I think bloomberg had it at 12 to 13 trillion.)
That could have eliminated income taxes for our lives.

And we still do not have any idea how many trillions of dollars the Fed creates each year.
Its insane to have income taxes when the Fed creates more money that the individual income tax generates.

Just let the Fed create the trillions for the govt account and eliminate the personal income tax on anyone but the top .5 percent.

 

[jem]

go ahead cheerleading paid lefty shill... disinformation bot...


tell us the FED did not just create 6 trillion dollars and put it in their member's (member banks) accounts.

your grad degree in underwater basket weaving holds no weight

 

[Cuddles]

go ahead cheerleading paid lefty shill... disinformation bot...


tell us the FED did not just create 6 trillion dollars and put it in their member's (member banks) accounts.

Yes, Trump's fiscal policy is the pits. We told you so

 

[newwurldmn]

You don't see this on Youtube.


Now lets get to my argument about the fact when your Central Bank creates trillions of trillions of dollars... There is no need for personal income tax on the 99. something percent.

https://taxfoundation.org/summary-latest-federal-income-tax-data-2018-update/


The 99 percenters paid 67% of the 1.4 trillion in individual income taxes... in 2016.

That amount is 938 billion dollars.

The Fed is slated to create at least 9 trillion dollars with this repo program.
So that would eliminate income taxes for about a decade.

Last decade the Fed created 29 trillon dollars for the bank bailout... by some counts. (I think bloomberg had it at 12 to 13 trillion.)
That could have eliminated income taxes for our lives.

And we still do not have any idea how many trillions of dollars the Fed creates each year.
Its insane to have income taxes when the Fed creates more money that the individual income tax generates.

Just let the Fed create the trillions for the govt account and eliminate the personal income tax on anyone but the top .5 percent.

You claim to have a post graduate degree in economics?!?!

 

[jem]

try engaging on some facts before you come in with a misdirection, lie or ad hom.

did the FED create 6 trillion or did the Govt spend it?
could the govt eliminate income taxes and just create the money instead of the Federal reserve?

If you govt spending was capped.
Would tax receipts eventually rise because of inflation, growth or both?

These issues should be concerning to all americans.

We have had 500 percent inflation... the last fifty years.
(and that is the measure amount... its worse in reality)

Who got the benefit of all those trillions created by the FEd that caused that kind of inflation?

So... pick a question. Show us some useful thought.
Then hurl an insult.
Really I don't mind insults... it the lack of engagements with useful thoughts that turned this place into a waste of time.


If the lefties hear would follow that format... we could make this board useful and entertaining as it was before the paid trolls arrived.

Its sad... but the left here (save piezoe when he is not posting propaganda) are at best one post deep.

You claim to have a post graduate degree in economics?!?!

 

[jem]

No part of me disagrees. Other than to give Congress credit for the spending as well. But... so what. That is not what we were discussing.



He got steamrolled by Ryan because he did not make an effort to replace Bannon's agenda. His own kids were fighting the agenda he ran on.

Once Bannon was fired he was a rudderless ship.

Yes, Trump's fiscal policy is the pits. We told you so

 

[piezoe]

No part of me disagrees. Other than to give Congress credit for the spending as well. But... so what. That is not what we were discussing.



He got steamrolled by Ryan because he did not make an effort to replace Bannon's agenda. His own kids were fighting the agenda he ran on.

Once Bannon was fired he was a rudderless ship.

Bannon, the alt right white nationalist? That Bannon?

jemmy, you do understand, don't you?, that all money is created by government.(Can you think of any better way?) In a 15 trillion dollar economy, trillions will be created (that's a very scary thing, but try to learn to live with it. It's a necessity of modern life.) The government spends money into the economy and taxes it back out. The difference between in and out is the surplus or deficit. If the government runs repeated surpluses, or surpluses that are too large, the economy will go into recession (too little money in the private sector). If it leaves too much money in the economy (doesn't tax enough) price inflation might result (that depends on demand and whose pockets the money is in.) Once the money is in the economy it is credit that plays the major role in determining the growth and shrinkage of the money supply. The central bank doesn't have a lot of control over this. It will, however, see that the money is there whenever it is needed. That's why you never have to worry whether your check will clear regardless of whether the bank you write it on is solvent. Your check will always clear -- I am assuming you're not writing bad checks! By the way, when a bank loans you money, the money supply increases, and when you pay the loan back the money supply decreases. If everyone paid off all their loans all at the same time we'd have a terrible recession. Don't worry, jemmy, this is not going to happen. The only thing someone , not us, has to worry about is that the amount of money in the economy remains in reasonable proportion to our productivity. Now that we are not on a stupid gold standard anymore we are actually on a productivity standard, but few people except smart people like you and me recognize that. So please continue to be productive.