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Magical thinking. They think that somehow making us all the bag holder of last resort will lead to ever increasing bitcon prices which will then be able to magi
by UncleOxidant 2y ago
Magical thinking. They think that somehow making us all the bag holder of last resort will lead to ever increasing bitcon prices which will then be able to magically pay off the deficit.
- Gibbon1 2y agoI'm waiting from them to realize they can force the social security administration to buy their magic computer money with treasuries from the social security trust fund.
- jerlam 2y agoI don't think any of this has any intention to pay off the deficit - it's a cover story for them to remove any opposition.
- Tadpole9181 2y agoAs evident from the ungodly tax cuts they just gave to the wealthiest Americans. > Oh, we are just so much in debt, we need to tighten our belts... With a 2.5 trillion dollar tax cut.
- Freedom2 2y agoAs the current administration explained, tariffs are intended to offset the tax cut, while the tax cut allows trickle down economics to take place. If you ignore all the glaring flaws it's a wonderful plan!
- linker3000 2y ago"If you ignore all the glaring flaws it's a wonderful plan!" I'm adding that to my stock of meetings comments.
- kevin_thibedeau 2y agoIn a reverse Robin Hood sort of way.
- nodoll 2y ago>With a 2.5 trillion dollar tax cut... So the idea is that this will be reinvested, leading to more productivity and job, which is a more sustainable way of getting rid of debt. If you tax the rich, chances are that their business will cut spending, lay off people and increase unemployment. So while "Tax the rich" looks impressive if you are looking only superficially, it is not very sustainable.
- Tadpole9181 2y agoI'm sorry, I'm not entertaining anyone who pushes trickle down trite at this point. It's so far beyond the point of pretending such claims are actually in good faith it's not even funny.
- nodoll 2y agoIs there some fundamental flaw with that idea, or are you rejecting it on the basis of some "reports" of the idea not having worked before?
- Tadpole9181 2y ago[flagged]
- kevin_thibedeau 2y agoIt has a tiny bit of merit on the basis that limited wealth inequality creates opportunities for investment of the surplus capital in novel ways. Something that doesn't work well in planned economies with forced equality. What we have today with a small number of plutocrats hoarding all the wealth doesn't work because they're playing a game of exclusively enriching themselves with no incentive to trickle anything down.
- chgs 2y agoYou can pay off debt with a one time injection. you can’t pay off a deficit. Deficit is not a fancy word for debt, it’s a first order derivative.
- joegibbs 2y agoI don't think it could ever be able to pay of the federal debt, the entire market cap of all cryptos is only a tenth of what the US federal government owes.