Within this week's comment by our President, on the flu, was a repeated commitment to use our common sense and the best that legitimate science has to offer. The President promised to do this-- and so I voted for him. How about recovery and reinvestment? What does economic science offer? What is common sense? There are at least two approaches offered by a mixture of common sense and legitimate economics: One approach favors the rich-- do as little as possible and wait for markets and law-makers to bring about a rebound (provided revolution does not hit the streets); the second and better approach favors the poor and whole middle class-- do as much spending without taxes as possible, and be prepared to mop up unsaved excess money if spiraling inflation seems to be inevitable. Our President has not studied Abba Lerner and his functional finance and proof that taxes are not for funding-- but are rather to prevent inflation. If the President demands his team explain how to spend on the scale of WWII to immediately lead the global economy out of danger, following Lerner's and WWII financing tools, he may do as well for economic science as he has done for the flu.
Please read:
http://www.ustaxreform.us/91308.htm
It's by Mathew Forstater and echoes Abba Lerner's FunctionaL Finance Tax Minimization idea
Comments are closed for this post.
