Austerity is a leftist term for a government spending within its means. Welfare is the left’s way of acting like it cares about other people with someone else’s money.
The public deficit is the money supply and net savings of the private sector. It’s not something to be reduced just for the sake of doing so. It only becomes a problem when it creates inflation. Read Stephanie keltons book the deficit myth. We still need higher taxes on the rich, but for the purpose of freeing up their excessive claims on resources and decreasing the amount of influence that concentrated wealth has on the political process, NOT for the purpose of reducing the national debt.
Show us the pie chart of total USSpending. All social spending combined represent the smallest sliver of total spending. The deficit is the result of massive tax cuts for the 1% and skyrocketing military spending.
@@bluewater454 Oh no! Ideological propaganda! Is that what you call facts these days? Sorry, we've already seen 42 years of trickling down and you still think it's raining.
@@VEGTheAgingHippie Funny, you used the word “facts”, but you didn’t give me any. Instead you gave me some nonsense about “trickling”. Where are your “facts”?
@@bluewater454 Here are some easily verifiable facts. GOP cutting taxes on the wealthy created huge deficits every time they're were in power. They then blame the Dems for it and start pulling out their hair screaming about the deficit. Funny there's never any worries about the deficit while they are busy running it up.
@@VEGTheAgingHippie Sorry, that is not verifiable. In fact, every time a tax cut has been implemented in the past 40 years federal revenue from tax receipts increased. That is a verifiable fact.
Ask yourself when a debt crisis is incurred by poor countries and how the IMF and the World Bank "help" with austerity programs being imposed on those countries. It seems to be the same class warfare to me. The situation you describe is internal neocolonialism.
What were federal tax revenues after the tax cuts? Did they increase or decrease? If you can answer that question accurately you will know whether the Bush tax cuts were a contributing factor to the national debt.
@@nikita-dh5je BINGO. Give that leftist a smiley 😊. The problem was(once again) not tax policy. It was spending policy. It is not a democrat/republican issue. It is a government issue.
@@zhukov2116 I did not say that it did. I am simply removing it as a cause for budget deficits. If you keep going further into debt there are really only two reasons - income or expenditures. Either your income is insufficient or your spending is out of control. Here is a hypothetical. Say your income more than doubles in just a few years, but you are still maxed out on all of your credit cards. Is your problem likely to be income or spending? I don’t think you need a degree in accounting to figure that out. You just can’t be a leftist and figure that problem out.
Austerity is poverty and tyranny.
Welfare is care and liberty.
Austerity is a leftist term for a government spending within its means.
Welfare is the left’s way of acting like it cares about other people with someone else’s money.
Conservative economics:
- Waste all the governments money on the police and opression
- Lower taxes
- Complain about deficits
- Repeat
Then democrats defund the police and the murder rate skyrockets....
Leftist politics:
Complain about conservative economics without having a clue about conservative economic policy.
The public deficit is the money supply and net savings of the private sector. It’s not something to be reduced just for the sake of doing so. It only becomes a problem when it creates inflation. Read Stephanie keltons book the deficit myth. We still need higher taxes on the rich, but for the purpose of freeing up their excessive claims on resources and decreasing the amount of influence that concentrated wealth has on the political process, NOT for the purpose of reducing the national debt.
Thanks Professor David Harvey for correct informations
Show us the pie chart of total USSpending. All social spending combined represent the smallest sliver of total spending. The deficit is the result of massive tax cuts for the 1% and skyrocketing military spending.
Bizarre....
Imagine what repealing all the tax cuts since Reagan would do for the deficit.
Nothing.
Imagine learning the facts about what is creating the deficit and not falling for ideological propaganda.
@@bluewater454 Oh no! Ideological propaganda! Is that what you call facts these days? Sorry, we've already seen 42 years of trickling down and you still think it's raining.
@@VEGTheAgingHippie Funny, you used the word “facts”, but you didn’t give me any. Instead you gave me some nonsense about “trickling”.
Where are your “facts”?
@@bluewater454 Here are some easily verifiable facts. GOP cutting taxes on the wealthy created huge deficits every time they're were in power. They then blame the Dems for it and start pulling out their hair screaming about the deficit. Funny there's never any worries about the deficit while they are busy running it up.
@@VEGTheAgingHippie Sorry, that is not verifiable. In fact, every time a tax cut has been implemented in the past 40 years federal revenue from tax receipts increased. That is a verifiable fact.
The Ultra rich won't let either party touch thier tax cuts.
Unless they don't have a choice
THIS IS ANTI-SOCIALIST, RIGHT WING POLITICAL IMAGINATION, NOT CLASS WARFARE.
Take the taxes off the rich and borrow the money from them instead, with interest. Neat.
Ask yourself when a debt crisis is incurred by poor countries and how the IMF and the World Bank "help" with austerity programs being imposed on those countries. It seems to be the same class warfare to me. The situation you describe is internal neocolonialism.
👍👍👍👍👍
The Bush tax cuts of 2001 and 2003 had more impact on making the debt of $31T.
What were federal tax revenues after the tax cuts? Did they increase or decrease?
If you can answer that question accurately you will know whether the Bush tax cuts were a contributing factor to the national debt.
And his unfunded wars I believe added over $6 trillion to the debt, did it not? War on credit cards?
@@nikita-dh5je BINGO. Give that leftist a smiley 😊.
The problem was(once again) not tax policy. It was spending policy. It is not a democrat/republican issue. It is a government issue.
@@bluewater454 unfortunately tax policy doesn't exist in a vacuum separate form the rest of society.
@@zhukov2116 I did not say that it did. I am simply removing it as a cause for budget deficits. If you keep going further into debt there are really only two reasons - income or expenditures. Either your income is insufficient or your spending is out of control.
Here is a hypothetical.
Say your income more than doubles in just a few years, but you are still maxed out on all of your credit cards. Is your problem likely to be income or spending? I don’t think you need a degree in accounting to figure that out.
You just can’t be a leftist and figure that problem out.