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Thanks for all of the replies to my query. Sherbros always represent.
One of the M4A arguments is that people skip getting medical services because our current system with copays and high deductibles disincentivizes people from getting care. If this is true (and I think it clearly is), then there will be an increase in demand.
Add to that the fact that if every citizen (and "aspiring citizen"?) now had access to highly specialized labor that they previously had to (or would have had to) pay thousands of dollars for, per capita everyone would basically get thousands of extra dollars per year that they could spend on other things. If we all now have $11,000 more than we did last year because the government decided to print money to pay for our health insurance, would we not spend put spend that $11,000 in other industries?
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As Jack says (and I trust he knows what he's talking about in this regard) we are a looong way away from that.
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As you point out though, that money being spent would go to other industries boosting government tax revenues.
So I don't see the problem here.
Atleast not until the US dollar is removed as the world's reserve currency, which in my book would be an absolute win.
According to your theory the government can just print money to pay for things that benefit its people, so boosting government tax revenue would not be a good thing but rather an unnecessary hardship the government placed on people.
The problem is that if everyone suddenly has thousands more dollars than last year people will spend that money, which will cause suppliers to raise prices because their output has not increased fast enough to meet the increased demand, which will lead to shortages.
This. And people are forgetting a country’s economic strength is also tied to consumer spending. Poor and middle class people don’t typically hide their money in slush funds. They buy shit. Lots of shit. The shit the corporations push on us. What happens when people can’t afford the shit they’re selling?! I give two Fucks bout the deficit cause in practical TODAY reality the wages aren’t keeping up with inflation ( 15 bucks an hour should have happened years ago from what I’ve read by some ) and last I checked basically NOTHING is getting cheaper or not for too long till it goes up again even higher. Corps will forever raise prices tilll the whole barely raising wages till this ponzi scheme collapses. No amount of bullshitting will change that Logic. This idea ( fantasy ) of never ending quarterly /Annual profits of corps ALWAYS increasing ad infinitum will not stick with the reality of eventually , inevitably pricing out their consumers. It’s already happening. And no end is in sight. And tech increases will only make it worse. Everybody can’t code or have a trade . Actually Taco Bell will be automated. Already happening. AI will eventually change The Whole idea of production and need for workers in many industries. “ The economy is Doing great!!” For who exactly ? Cause I am a middle class govt worker with decent salary , college educated , not a frivolous spender and it’s fucking difficult at times to make it. I know I know . Some on here are great at investing and have their own biz and will retire with two houses paid off at 40. Good for you . And I know Americans are financially illiterate. But that’s designed. They could teach this shit in first grade but common core has to indoctrinate us to be good plebs. I believe In fiscal responsibility but goddamnit I know slot of people that didn’t do stupid shit economically who are fucking struggling . It’s more than “ their fault. Too bad so sad. “ and I know , I know ....I sound poor.One of the M4A arguments is that people skip getting medical services because our current system with copays and high deductibles disincentivizes people from getting care. If this is true (and I think it clearly is), then there will be an increase in demand.
Add to that the fact that if every citizen (and "aspiring citizen"?) now had access to highly specialized labor that they previously had to (or would have had to) pay thousands of dollars for, per capita everyone would basically get thousands of extra dollars per year that they could spend on other things. If we all now have $11,000 more than we did last year because the government decided to print money to pay for our health insurance, would we not spend those thousands of dollars in other industries?
It's not my theory. It's called modern monetary theory.
The truth is that believing in old ideas that have been completely debunked is the really odd idea.
He's known as Deficit Donny for a reason.
Okay but why are the numbers so different?His chart is on the deficit. Those charts are on the debt.
Those are different things.