Three Reasons To Be In Favor Of A Payroll Tax Cut — John T. Harvey

For at least a few moments this week, President Trump suggested a payroll tax cut to stimulate the stalling macroeconomy. Although it appears that he has already changed his mind, it’s worth taking a look at the strategy...just in case.

Let’s say for sake of argument that the negative signals we have received of late are accurate. What should we do if we slip into full-fledged recession? Cut interest rates? Lower the budget deficit? Decrease payroll taxes? It turns out that the last one is the clear and easy winner. Why?

Forbes — Pragmatic Economics
Three Reasons To Be In Favor Of A Payroll Tax Cut
John T. Harvey | Professor of Economics, Texas Christian University

Zero Hedge — White House Denies It Is Considering Payroll Tax Cut To Boost Economy

That was quick.

Zero Hedge
White House Denies It Is Considering Payroll Tax Cut To Boost Economy
Tyler Durden

Calculating The Reparations & Refunds Owed To The Working Classes (claims against WalMart are just a start)

(Commentary posted by Roger Erickson. And a hat tip to Jim Valensi, and all union members from San Pedro, California.)

Citizens are finally waking up to the excessive, distributed looting and concentrated gain that business lobbies have come to practice, while exploiting the fundamental loophole that politicians in the USA can be bought, and cheaply too.

WalMart gets tax breaks as a "job provider" to drive out competitors, and then sticks local communities with added unemployment, to pay the living wage of the people WalMart supposedly "employs." Parasites are jealous! It's a diabolically brilliant method for killing your host nation.





Ironically, however, WalMart is just the tip of the parasitic iceberg*. If we're gonna talk reparations and refunds, we gotta be consistent, and start at the top of the hierarchy. No sense in just arguing over crumbs.

Over the last 4 generations, NeoCons have bamboozled untold Trillions from every single person in the USA - including themselves!

What would the refund to the MiddleClass be if we demanded back 4 generations of completely unnecessary FICA taxes? With interest & penalties (for policy stupidity)?

Remember, while taxes are fundamental to national solidarity, tax distribution is 100% policy, and taxes are NOT revenue for a currency issuer, only necessary - but not sufficient - policy.

Business owners get corporate welfare & tax breaks just for being in business.

Why don't working people get equivalent tax breaks for being in "labor" ?

Any anthropologist will tell you that clan & class competition continues, expressed nowadays primarily as excessive efforts to over-tax and under-fund PERCEIVED competitor families, clans & classes. That inability to see & explore bigger collective options is holding back the USA, and citizens of every other country in the world too.

We came out of a BIG option - WWII - with an agile, all powerful MiddleClass that made us the most capable nation on Earth. Since then, a few greedy, misguided bastards have been busy promoting the idea that 1% of us should shoot the nation not just in the foot, but in every internal organ as well. It wasn't always like this. Businesses from Kaiser Construction to (early) Hewlett-Packard once placed fair profits and fair wages on an equal footing. What happened?

Time for a refund? Big time!

How? Just take back the group brains that we've been tricked into NOT using, and refund our own damn policy. What's the option? Ceding ownership of our national carcass to the 1%? What on Earth are THEY going to do with a dead culture, after they've sucked it dry? Emigrate to new host colonies? What if they're all dead too?

If the USA is to light it's "shining beacon" again, it's gotta include a PARASITE LIGHT to attract and then neuter or re-purpose our own parasites. ("BlackLight" seems to work well on Control Frauds.) Otherwise, we'll be consumed by our own cloud of deranged capitalist mosquitoes and the greed-borne social diseases that they carry. Every time we get careless, another crop of antibiotic-resistant capitalists evolve, starts spewing onco-memes, and the aggregate barely survives. Re-purposing parasite functions is an honorable, ancient method as old as evolution. There's no shame in shaping parasites to aggregate or Public Purpose.

Can we get back to an ounce of prevention, so some insanely great cultural evolution can continue unabated for awhile?

* All FICA taxes to the working classes, since 1936? With compound interest and fines? Anyone wanna take a stab at that? Add damages and lost opportunities? We could have had an AWESOME middle class!!!

circuit — Impact of the US Payroll tax cut...and tax hike

This is a very informative (and short) piece by economists at the NY Fed on the effect of the 2011 US payroll tax cut and its recent expiration.

Fictional Reserve Barking
Impact of the US Payroll tax cut...and tax hike
circuit

As one would expect.

Rodger Mitchell — The Big Lie

In economics we suffer the BIG LIE. It is a lie, because it is untrue. And it is big, because it adversely affects every facet of our lives. The BIG LIE, in its simplest, most basic form is this: 

“A Monetarily Sovereign government unwillingly can run short of its sovereign currency.”

The U.S. became Monetarily Sovereign on August 15, 1971, when it went off a gold standard. The government creates dollars by paying bills. It pays bills by instructing banks to increase the numbers in checking accounts. It can do this endlessly, now that it no longer needs supplies of gold to collateralize dollars. In short, the BIG TRUTH is: 

It is not possible for the U.S. government unwillingly to run short of dollars.

Monetary Sovereignty
The BIG LIE: It’s everywhere. Repetition creates belief, which creates more repetition
Rodger Malcolm Mitchell