Re:Stanford Professor Loses Political Battle To Simplify Tax...
by quadrangle on Thursday March 30, 2017 @12:00PM
(#13996529)
Yes, spending is real spending, but no taxes are not revenue. Read the link I posted. This isn't that hard to understand. The entire concept of federal budget is a balance between "revenue" and spending in order to keep the monetary supply stable. But seriously, just read the link, you don't seem to understand the basic facts I'm expressing.
Re:Stanford Professor Loses Political Battle To Simplify Tax...
by dragonwriter on Thursday March 30, 2017 @01:10PM
(#13997119)
> Read the link I posted.
I read it, and the point you are using it to support is still not true; the government could, Constitutionally, do what you describe (and what the linked article is part of the author's failed Senatorial campaign advocating), but it doesn't, for the same reason that the Fed exists; moneterizing spending and not unlinking fiscal from monetary policy undermines faith in the currency.
> But seriously, just read the link, you don't seem to understand the basic facts I'm expressing.
There's a difference between not understanding your claims and their relation to reality and disagreeing with the first and with your assessment of the second.
No, it's not. Federal government revenue is real revenue, federal government borrowing is real borrowing, and federal government spending is real spending. The Federal Reserve creates and destroys money, but that monetary action is separate from the fiscal action of government revenue, borrowing, and spending.