tag:blogger.com,1999:blog-2761684730989137546.post2220186903764528508..comments2024-03-29T09:32:34.853-04:00Comments on Mike Norman Economics: Warren Mosler — Friday update- deficits matter, a lot!mike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-2761684730989137546.post-77825185357940607342013-06-22T10:24:45.802-04:002013-06-22T10:24:45.802-04:00Matt,
Precisely.
Higher transfers are equivalent...Matt,<br /><br />Precisely.<br /><br />Higher transfers are equivalent to lower net taxes - and higher deficits.Jose Guilhermehttps://www.blogger.com/profile/00313496015841693181noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-53303526189514327462013-06-22T00:17:52.662-04:002013-06-22T00:17:52.662-04:00Jose,
Is that not 'net taxes'?
RspJose,<br /><br />Is that not 'net taxes'?<br /><br />RspMatt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-63560626714940809232013-06-21T22:41:27.845-04:002013-06-21T22:41:27.845-04:00G-T doesn't include transfer payments
It does...<i>G-T doesn't include transfer payments</i><br /><br />It does, because T is taxes net of transfers - transfers are negative taxes.Jose Guilhermehttps://www.blogger.com/profile/00313496015841693181noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-62107470168990591022013-06-21T15:14:02.571-04:002013-06-21T15:14:02.571-04:00Warren said have a nice weekend. That's about ...Warren said have a nice weekend. That's about all I like about his outlook. The placebo effect of the fed seems to be gone.Jonfhttps://www.blogger.com/profile/08422916863145293925noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-23594468579200465692013-06-21T14:59:27.541-04:002013-06-21T14:59:27.541-04:00G-T doesn't include transfer payments so if G-...G-T doesn't include transfer payments so if G-T is shrinking, and govt<br />provides direct Transfers to the non-govt to consume and perhaps save (a little), the deficit can be seen as shrinking while the economy can be humming along thru govt transfer's direct support of C by the non-govt...<br /><br />Let taxes fall where they may and let ex post G-T fall where it may who cares?<br /><br />It's the G that is important plus the Transfer Payments (which no economist even accounts for btw) that directly support C by the non-govt (consumption) that are more important than ex post G-T imo...<br /><br />Govt SPENDS FIRST and THEN collects the taxes... its the "SPENDS FIRST" that matters...<br /><br />rsp,<br />Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.com