one more from mike for your weekend entertainment
Posted by WARREN MOSLER on January 6th, 2013
The Center of the Universe
St Croix, United States Virgin Islands
MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.-
MMT: Taxes function to regulate aggregate demand, and not to raise revenue per se.
Warren’s Book:
Buy it or read it free online!
"The most important book ever written" -Elizabeth O'ToolRecent Posts
- Fed’s Bullard goes after taper worms
- WRKO Interview
- Thinking Caps On – Grab a Coffee – Sales/Trading Commentary
- Obama double talk on jobs
- Obama administration approved wider exports of liquefied natural gas
- Italy tour
- MEMMT tour
- uh oh…
- NY Fed: How Are American Workers Dealing with the Payroll Tax Hike? – Liberty Street Economics
- Homebuilder Confidence in U.S. Climbs as Outlook Improves
-
The funds to pay taxes and buy government securities come from government spending.
Subscribe To:
Links
Internet Life
January 7th, 2013 at 8:25 am
Either a little bit of intellectual dishonesty or Mr. Norman is failing to make a distinction of nuance. I understand his broader point, but there is a difference between a one-time natural disaster and an on-going and theoretically ever-expanding new social welfare or security net program (e.g. food stamps, Medicare, etc).
Reply
IJR Reply:
January 10th, 2013 at 4:35 pm
@perpetual neophyte, Totally agree. Also, the Republicans were fighting for lower taxes, not higher taxes. Thus the Republicans were more in line with Mike Norman and MMT but apparently Mike can’t see that through his rooting for the completely honest, non-hypocritical democrats in government.
Bill Gross is a fool? I may not agree with him on everything either but he’s no fool.
Mike…understands MMT but certainly comes across as a clown.
Reply