After several email exchanges where I attempted to explain my ideas and show an MMT perspective could contribute, the guy from United Front Against Austerity (his name is Kyle) sends me this:
| Mike, you have no idea what you're talking about here. Once again, I've offered several ways for you to get involved, and those offers stand. You and your acolytes are pissing and moaning that we're not turning this into the United Front for MMT. Thus far, nobody will provide a clear answer about what the fuck MMT is or why anyone should care. We have a number of collaborators from various economic disciplines, most of whom will not be at this event. I'm sure you could have an interesting discussion with Dr. Tarpley, who will be there. If you want to do something useful for your own movement and your country, stop worrying about a meaningless 5 minute speaking opportunity and please come to the assembly with something concrete to offer. -Kyle |
No idea what the fuck I am talking about, huh?
Well, here are some of their brilliant proposals.
| 1. I and I'm sure Dr. Tarpley would underscore the distinction between fiscal and credit stimulus. The government, via a nationalized or controlled Federal Reserve system, should issue zero interest credit only and specifically for physical production of the types you mention. This is not spending but lending that will be repaid through future tax revenue. 2. Tarpley's plan doesn't really get into income tax, and we'll have to fight a lot of leftists in our coalition who want to focus on some kind of wealth tax or more progressive income tax. I'd argue that Romney's tax plan, for example, is a kick in the nuts to the middle class, who need deductions, and a gift to the super-rich, who will pay less income tax and continue to claim carried interest, capital gains and other preferred types of income. A Wall Street sales tax doesn't touch "wealth" but only penalizes and prevents speculation. If I have to pay 7-10% tax to buy a car, why should Jamie Dimon pay 0% to buy credit default swaps? If "the 1%" wants to invest in production, I assume our program will suggest tax incentives for doing so. |
You decide. One thing is for sure, we have to start organizing our own gatherings. It's a waste of time trying to educate these "progressives." They are their own worst enemies.
