Tax cuts cost money we don’t have
No one who makes this statement should ever be taken seriously until they beg forgiveness and do proper penance to the macro-econ gods. The one entity in the world that doesn’t have to chase dollars to spend, the US government, and you dolts have it doing just that and costing millions of lives in the process. Where, exactly, do you believe US dollars come from if I might ask?
If Congress in its all-seeing wisdom wants to spend $700 billion on the military, billions of dollars on farm subsidies and so on, it must either raise enough money in taxes to pay for the programs it authorizes or reduce the size of government.
Perhaps, in your infinite wisdom in all things econ, you can point to the rule/law that would prevent the US government from creating more money than it collects in revenue and explain how the general economy/society would benefit from that? You do understand that Congress holds the monopoly patent on the US dollar and is the only entity that can create and destroy dollars, right?
If your cognitive ability is sufficient to allow you to view reality from different perspectives you should have no problem understanding that the “balanced budget” you just advocated for steals all resources and labor the government uses to provision itself and pay for its programs from the private sector by clawing back all payments for those in taxation. If the government spends $100 into existence but only collects $90 back in revenue the private sector retains $10 to store value from its commerce with the government.
This would accurately suggest that the only net source of black ink the private sector has is the “RED” ink, deficit spending, of the government sector. This also means that the national debt that lights everyone’s hair on fire is nothing more than an accurate record of all money created by Congress that hasn’t yet been used to pay a federal tax obligation, our net money supply. The fact that it is sitting in secure Treasury bonds and earning interest is a very good thing, not a sign of an inevitable apocalypse. Our government provides us with money to save, retire private bank debt, and store value from our commerce and then also gives us a place to store it that pays dividends, and we see this as a bad thing because some half illiterate politicians need a punchline in their jokes of political campaigns??
The best way to deal with the wealthy is not to take their money to “fund” public spending, but to make their wealth irrelevant to such funding and simply spend for the public purpose as the founders intended when they mandated Congress to coin the currency “for the public welfare”. Once we realize we don’t need either the wealthy or their money to do so we can then proceed to tax the bejebus out of them simply because they have more money than is good for our democratic process. To accomplish this we need to gain an accurate perspective of the US dollar, its origin, and how it moves through the economy, which is nothing like what is the current assumption.
