While Dems Babbled About Russia, GOP Passed Trickle-Up Economics Tax Bill
Caitlin Johnstone
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Good stuff, Caitlin. I note your saying “Lack of knowledge about sovereignty”. It is particularly acute with economics. The US is Monetary Sovereign too. That says the government is in total control over its dollar, that it therefore can never go broke and can always pay its bills. It also means that federal taxes cannot be used as revenue- it spends new dollars every time. It means you can afford tax cuts. Actually tax cuts puts more spending into the economy, but you don’t have to cut elsewhere to adjust the budget balance. The fact the tax cuts will benefit the already wealthy is a problem but at least people should recognise it need have zero to do with FICA, pensions etc. and other drains on the 99%.

If the government had any understanding at all it would always go for federal deficits. That just means spending more that they take away in taxes and by doing so the economy grows and employment grows with it. If Congress directed the extra money into the everyday economy the whole exercise just might be beneficial to the rest of us.

Your saying the Left is kaput is also spot on. The Clintons are republicans in disguise, though a pretty transparent one, and why HRC was a worse choice that the Donald. We are sick of it after the damage done by neo-liberal policies is plain for all to see.

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