Tuesday, April 21, 2015

It burns me up when I hear politicians say, we gotta "fix" Social Security

The proposals to "fix" Social Security all revolve around taking it away, sooner or later.

1 comment:

John said...

Mike,

At 4.20 minutes in, did you mean to say the following?

"...and those taxes flow into the treasury's general account, and they're spent..."

But MMT mindf**k 101 informs us that taxes don't pay for anything.

Perhaps this is not the right place to bring this up, but even if taxes don't technically fund anything and are a way of regulating demand and controlling inflation, is that not the same thing but at one remove as taxes funding government spending?

I am not saying that this is a semantic distinction, but a distinction without a difference. In essence, whether you tax to fund or tax to regulate demand is irrelevant from the taxpayers point of view. What practical difference does it make?

All are welcome to chime in.