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.
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Thursday, February 26, 2009
Obama’s Planned Tax Would Hit Highest Earners Hardest
It's really sad how the "deficit terrorist" mentality has taken hold of all our policy.
Obama's plan to have high earners pay for health care displays a belief that the Federal Government doesn't have the "means" to invest in health care. So it is prepared to extract the means (the government's own money!) from a group of its citizens.
Taking from wealthy people to support universal health care will not only produce fiscal drag (or detract by an equal amount from the positive effects of higher spending in this industry), but it will also create enmity between high income people and those less fortunate. It will fracture society.
It's once again an example of a well meaning idea (universal health care) brought about with terrible policy.
With the passing of each and every day we see policies that will result in the long-term stagnation of our economy: A perpetual living beneath our means. It will ensure a generational decline in the standard of living of the citizens of our nation. This needless loss of wealth and the increased poverty that will accompany it, is the real heritage left to our future generations.
Why can't they create more healthcare assets and nationalized insuranced based on treasury deposits which create bonds or whatever ?
ReplyDeleteInstead of playing tax man.
That way the bond is factored on basis on how well the system works to protect people and to heal them more efficiently.
IF OBAMA BALANCES THE BUDGET THEN THE DOLLAR WILL STRENGTHEN AND EXPORTS WILL FALL WHICH WILL REDUCE GDP AND CREATE MORE DEBT IF NOT INFLATION.
ReplyDeleteTIME TO STRING ALL THIS STUFF TOGETHER :
DEPOSITS VS TAX INCOME
LOANS VS TAX SPENDING
FOREX SWAPS VS RESERVES
INTEREST RATES VS DEFICITS
ETC ...
SPEND BIG, CREATE WEALTH, AND PROVIDE JOBS AND NATIONALIZED HEALTHCARE.
TELL RAY LUCIA WE NEED NATIONALIZED HEALTHCARE OR AT LEAST GOVERNMENT SHARES INTO WHICH.
ALL THIS NEW TECHNOLOGY AND XRAYS WHICH WERE INVENTED 100 YEARS AGO ARE STILL NOT FREE TO THE COMMON MAN.
"Nationalized" healthcare is a misleading term. The defense industry is made up of private firms that are paid by the government to produce planes, ships, tanks, munitions, supplies, etc. When it comes to health care the government does not need to produce, provide and administer health care services, it only needs to invest in it. Then everyone will have access to the best health care and technology. Healthy human capital is an asset to a nation, just as educated human capital is.
ReplyDeleteOK
ReplyDeletewhy has not the healthcare industry been taken down along with all the others or am i just not up to date ?
ALSO : are we out of the storm ?
looks like frischberg is gearing up for some serious talks about where to invest.
you can tell because he first interviews a freshman on the phone, then re/de/nounces any advice of any kind and says that stocks are bad for your health and a wild goose ride ...
then his next segment is about purchasing tickets from the ringmaster for a ride with the geese - getting back into the game.
Have we seen the bottom yet ?
are we out of the storm of any type of possible bank crisis ( bank runs, bank duds, etc ) with the new admin ?
"why has not the healthcare industry been taken down along with all the others or am i just not up to date ?"
ReplyDeleteBecause of unlimited gov't checkbook.