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You realize that we are already running trillions of dollars in deficit for the programs we already have in place? The first step, should be to lower the defic

You realize that we are already running trillions of dollars in deficit for the programs we already have in place? The first step, should be to lower the deficit and actually fund the programs we have in place. We cannot just keep printing money without worsening the deficit and worsening the inflation. Yes, consumer sentiment is all hopes and dreams, but monetary policy is not. There are real world implications.

toomuchtodo 4y ago
We’re going to inflate that debt away, like all developed nations with a declining fertility rate will do (Japan leads the way for us). Extend and pretend. Again, it’s not real! It’s just numbers in a database. For those concerned about sovereign debt, that should’ve been thought about before running it up on unnecessary conflicts (which there have been many!) and other unproductive efforts (tax cuts for the wealthy). Real needs coming up, and no excuses because of previously suboptimal governance. Lots of assets and wealth in the US to tax for those who really want the debt line go down, but if debt line doesn’t go down, nbd.
- ThunderSizzle 4y ago
  If debt doesn't matter, then why do any of us pay any tax? We can just replace all taxes with more debt.
  - toomuchtodo 4y ago
    Taxes and debt, while on the surface appearing to be similar obligations, have drastically different recourse options and enforcement mechanisms. Debt creates money, and if you subscribe to modern monetary theory, taxes destroy money.
bombcar 4y ago
That money (or some portion of it) is currently flowing into the housing market via Freddie and Fannie and the loan guarantees provided for 30 year fixed. You could imagine other programs that could encourage renting, for example (no thought has been given to this, just an example/idea) - federal guarantee that you would pay NO capital gains tax if you could prove that you continued to rent out the property and never increased rent more than 1%, say.

toomuchtodo 4y ago

We’re going to inflate that debt away, like all developed nations with a declining fertility rate will do (Japan leads the way for us). Extend and pretend. Again, it’s not real! It’s just numbers in a database. For those concerned about sovereign debt, that should’ve been thought about before running it up on unnecessary conflicts (which there have been many!) and other unproductive efforts (tax cuts for the wealthy). Real needs coming up, and no excuses because of previously suboptimal governance. Lots of assets and wealth in the US to tax for those who really want the debt line go down, but if debt line doesn’t go down, nbd.

ThunderSizzle 4y ago
If debt doesn't matter, then why do any of us pay any tax? We can just replace all taxes with more debt.
- toomuchtodo 4y ago
  Taxes and debt, while on the surface appearing to be similar obligations, have drastically different recourse options and enforcement mechanisms. Debt creates money, and if you subscribe to modern monetary theory, taxes destroy money.

bombcar 4y ago

That money (or some portion of it) is currently flowing into the housing market via Freddie and Fannie and the loan guarantees provided for 30 year fixed. You could imagine other programs that could encourage renting, for example (no thought has been given to this, just an example/idea) - federal guarantee that you would pay NO capital gains tax if you could prove that you continued to rent out the property and never increased rent more than 1%, say.