Wednesday, February 20, 2019

Wolff responds to Fox & Friends

Richard Wolff says how many people were very disappointed when they got the tax cuts that the Republicans promised as many received hardly anything, and others received nothing at all, as the lion share of the tax cuts went to the very wealthy and the corporations.

But what really got to Richard Wolff was the spin Fox and Friends put on the disappointing tax cuts trying to make it look better to their viewers. They also said that Mississippi and New Jersey were model states because they had the lowest taxes, but Richard Wolff says that they are also the poorest states and are hardly models for other states to emulate. Also, he adds, the richer, high tax states subsidize the poorer states which Fox and Friends fail to mention. So, those states that are exemplars of capitalism, conservative values, rugged individualism, and low taxes, have to rely on subsidies.

Link to the Fox & Friends video I am responding to:


Konrad said...

“Mississippi, like New Mexico, is in a constant race for being the poorest and least economically developed state out of the entire 50. That Mississippi is put forward as a model requires a blindness that is even far-fetched for Fox.”

Wolff is correct, but I would throw Alabama in there too. That place is insane (unless you are rich). Same with Louisiana.

Wolf also says that low-tax states like Mississippi are highly reliant on federal subsidies.

He is correct.

Which US state out of the 50 has the lowest reliance on federal subsidies? North Dakota because it is the only state with a publicly owned central bank.

Which state is the most reliant on US government handouts for its operating expenses?



In other videos, Richard Wolff attacks MMT and Brexit, since neither makes any change to the capitalist-neoliberal order.

Amazon, the richest and most profitable company on earth, plays zero tax, and Jeff Bezos even demanded $3 billion in subsidies from New York City.

Bob Roddis said...

If a state depends on federal subsidies, by definition, IT'S NOT A FREE MARKET STATE.

Just like a regime that runs on fiat money is not a free market regime.

Your entire MMT/progressive "analysis" is based upon lies and fudging the meaning of well understood words.