An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
.@Phil_Mattingly "You never have to default because you print the money." @realDonaldTrump: Modern Money Theorist? https://t.co/0TojxEtxPB— Michelle Jamrisko (@mljamrisko) May 9, 2016
.@Phil_Mattingly "You never have to default because you print the money." @realDonaldTrump: Modern Money Theorist? https://t.co/0TojxEtxPB
"There's never a default because we print the money"That's at least a factoid (very important I might add) coming out of Trump that's certain to rankle Paul Ryan and his knuckled headed followers.ps--and in an unrelated note, Trump's going to tax the rich more also.hehehe..
Malmo-what evidence is there that Trump wants to increase the overall tax take from the wealthy? Per his tax plan release, he wants to cut taxes on the wealthy more than any of the other conservative morons that ran for the R ticket:https://www.donaldjtrump.com/positions/tax-reformFor fuck's sake he wants to reduce the top bracket to 25%, how on earth can anybody be dumb enough to believe that cutting income tax rates on the wealthy by 30% would result in "rich paying more in taxes".The necessary caveat with all Trump things....There is no way to really no anything about what he intends to do since he is a serial liar and ignoramus. Like in the link where it says there will be loop hole elimination to offset the marginal rate cut....BULLSHIT. Not a single deduction is mentioned. Mortgage deduction? Laughable. With all that said, I totally agree with the outline and concept of his tax "plan" for lower income earners.
Auburn I think he calls that "being unpredictable"...Hey you have to at least give him credit for going on the shows yesterday and trying to halt the calls that interpreted his statements last week as advocating some sort of a default... a la the debt doomsday crowd who have mobilized an entire new marketing strategy by misinterpreting him last week....He says and I quote:""There's NEVER a default because we print the money" (emphasis mine)Here is a link: http://www.politico.com/story/2016/05/trump-no-debt-default-222957#ixzz48ArXoQE9 Can you please direct me to the link where Bernie is quoted as saying this same thing????????
Malmo-Are you guys really this ideologically blinkered that you seriously contend that article is somehow a rebuttal? I mean I used to have a lot of respect for the two of you, but alot of that is long gone by this point in the election campaign. So lets run down that joke of an article:"Anti-tax crusader Grover Norquist, who has backed Donald Trump's promised across-the-board tax cut, endorsed the plan Monday even though Trump now says some of the wealthiest Americans will be paying a bit more."There is no evidence here that the plan (whatever that is) will increase taxes on the wealthy. This line just says that Grover endorses Trump's "plan" even though now TRUMP (not math, not some policy paper) says that the wealthy will pay a "bit more". Who gives a fuck what that fucking retard liar Trump says?"Some people who organize their lives around tax credits and tax deductions might see some increase," Norquist told CNBC's "Squawk Box" a day after the presumptive GOP presidential nominee doubled-down on comments he made on CNBC last week."Sure if you eliminate every deduction, then maybe. But if you go to Trump's actual page that I linked to above, there is no mention of a single deduction that will be eliminated just that "loopholes will be closed"....like I said, BULLSHIT. No way are they removing the mortgage, health care, charity, etc deductions. Cons have been saying this same crap for years and years.""The thing I'm going to do is make sure the middle class gets good tax breaks," Trump said on NBC's "Meet the Press" on Sunday. "For the wealthy, I think, frankly, it's going to go up. And you know what, it really should go up.""Again, who gives a fuck what Trump says here. Look at his plan, which I linked to. Cut marginal rates on the wealthy from 40% to 25%. "Trump's comments echoed remarks he made in a phone interview with "Squawk Box" last week: "When you put out a tax plan, you are going to start negotiating ... and I can see [taxes on the wealthy] going up. ... I don't want the middle to go up at all.""more of the same garbage""Because Trump takes the top personal rate from 39.6 percent to 25 percent and the corporate rate from 35 percent to 15 percent, there is no way anyone would see an actual tax increase," Norquist said in a statement emailed to CNBC after the interview."Trump's tax cut would be a tax cut for every American," he added. "Holy shit, even moron Grover thinks you two are idiots about Trump's tax plan!"Norquist's Americans for Tax Reform asks Republican candidates to sign a no-new-taxes pledge. "Grover supports Trump's tax plan as written down on paper," a spokesperson for the organization said after Norquist's CNBC appearance."See here, even Grover doesnt believe Trump's interview lies. He's using Trump's actual written tax proposal on his own fucking campaign website. ""What [Trump] added in this was ... when you're the president you're not the king. You have to go get Congress to pass a tax cut," Norquist told "Squawk Box."Norquist, who generally does not formally endorse candidates, said Trump has not yet signed the Americans for Tax Reform's pledge but his campaign and his public statements indicate he would."None of this last part is relevant to anything.Thats the whole piece of shit article you linked to Malmo. So either you didnt read the article are you are too fucking stupid to comprehend it.How do you like them crickets.
Matt-Bernie has never said that, in fact Bernie is anti-MMT on the fiscal front, he is a fiscal conservative who wants surpluses. Thats so stupid it hurts my brain. I remember somewhere readin a response Bernie made to a question a reporter asked him about MMT when he picked Kelton to be chief economist for the Dem budget committee and he said something along the lines of "I dont worry about theory" the context of the comment was derisive in the Conservative anti evolution vain of "evolution is just a theory".So thats bad. Doesnt change my support for his policies.
ie Crickets from the Bernie camp...They're missing an opportunity to get in this thing.... it has legs right NOW....
Looks like Bernie doesn't want to go there, or he would have unleashed Stephanie long before this. Too bad.
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