Posted by WARREN MOSLER on January 21st, 2009
- Full ‘payroll tax holiday’ where the Treasury makes all payments for employees and employers.
- Restores incomes to assist those still working to make their payments, keep their homes, and end the credit crisis.
- Reduces corporate cost structure to help contain prices as demand increases.
- Enables States to fund operations.
- Enables States fund infrastructure projects.
- Addresses unemployment from the ‘bottom up’ rather than the ‘top down’ the way other measures do.
- Provides for a far superior price anchor than the current practice of using unemployment for that purpose.
- Demanding collateral is redundant and obstructive to lending.
- Allows the NY Fed to hit its assigned fed funds target.
(Details available on request.)