If instead you mean keeping the equipment running, that’s definitely false.
I’m including the cost of fuel, which is considerable. Sun and wind access is free, so far. Did you know that the largest wind energy generation developer in Texas is also the guy building the infamous Dakota Access tar sands pipeline? They know where this is going but will squeeze out the last bit of profit they can, even if it destroys life.
You will be opposed by the vast majority of Americans who will be impoverished by the extreme measures Mr. Sanders would impose upon them.
Because Americans hate jobs and love spending money for wasteful and destructive energy? This process will be a ten-year project and the people will be assured of the proper support mechanisms for anyone displaced. The federal government, as the creator of the currency, has tremendous economic advantages that have been denied to all but the top 1%. There is “NO” reason for any misery in the American economy other than a pure lack of political will to prevent it.
OK, so where is the average American going to come up with $2,500 per year for ten years?
We could start by ending FICA deductions from payroll. That is a drain on the economy that does absolutely nothing to enable the government to provide retirement benefits. Bonds simply don’t work for the federal government the same way they do for investors. There’s no stash of money at Treasury waiting for you to retire because bonds are just temporary taxes that destroy money for the term to their maturity. Their only useful function, defending the gold reserve, is no longer needed.
The Social Security “fund” is nothing more than a spreadsheet accounting for money created and money destroyed. No matter what the books show it owes the people there is nothing to actually fund future benefits. The government sector can never have money, just like the private sector can never have public debt. If they get together in the same sector they balance to zero. Here is proof that you asked for, but it’s a deep dive into Fed and Treasury functions, so plan to invest some time and concentration or accept that the onus of proof is on you to back your statement.
Can Taxes and Bonds Finance Government Spending?
While we are at it we could stop lying to the people and just end Treasury bonds. They are only government-funded welfare for deep-pocket investors and banks. Monetary policy is proving failed worldwide to control the economy and we should simply set a zero rate policy or pay a small dividend on excess reserves at the Fed. Japan has been functioning with a zero rate policy for 30 years and has a debt to GDP ratio over twice our own and can’t create inflation even when it wants to.
Oh, really? I’d love to see some of those estimates. Comic books are fun to read.
