There are still other options: The Federal Reserve currently funds the CFPB, makes loans to banks, provides liquidity to central banks around the globe The Fed could easily set up a Medicare bank that would collect current Medicare taxes and pay all claims. The Fed can do that.
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Ryan, you’ve spent too much time listening to Stephanie Kelton. This is snake oil.
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If snake oil worked for 80 straight years, I’d keep rubbing it on my skin, wouldn’t you?
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We’ve never had deficits of 4-5% of GDP at the top of the cycle, and Kelton talks like the sky’s the limit.
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There's a limit, of course, and the MMT people acknowledge that, but we're not even hitting our meager inflation target yet
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they never talk about the limit - but what also bothers me is giving up on, in the immortal words of the narrator of All the King’s Men, soaking the fat boys
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Then look at it this way: a major thing keeping us from soaking the fat boys is that we at the bottom are all fighting for scraps. So give us a full meal and then unleash us together against the fat boys.
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am I wrong in thinking that we could pay for a substantial portion of the cost via employer side payroll taxes, i.e. take the same money being given to the insurance industry? we could avoid raising taxes on individuals, which to me is the main bogeyman the Right could roll out
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I get where you’re going but your taxes/spending conflation here hurts your argument.
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Then why is Cillizza conflating taxes and spending? You’re making my point.
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I don’t disagree with you. Just saying you can’t prove taxes and spending are independent by talking about taxes and taxes.
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Oh I see what you mean. That point is more about deficits.
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The fitting parallel would've been, "did the GOP need to cut spending in order to cut taxes?"
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Right, but i was going for peak absurdity
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Raise taxes to pay for the tax cut?
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Absurd, right? Yet the tax cut is law anyway.
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You guys realize the average lifespan of a fiat currency is 27 years...right? You're policies end in disaster for everyone.
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Healthcare spending is over $3t per year and is expected to rise to $5t per year in 10 years. Medicare for all is not a purchase of a social good that society would otherwise not have. It is a way of spreading the cost of that unavoidable health care spending.
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I don’t understand why this concept is so hard to grasp
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