Re: Socialism vs Capitalism containment thread
Posted: Sat Dec 09, 2023 10:03 am
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Read more here: https://www.eurasiareview.com/22122023 ... analysis/(Eurekalert) It increasingly looks like the Fed and the Biden administration have nailed the notoriously difficult soft landing, with inflation rapidly falling towards the Fed’s 2.0 percent target and the unemployment rate still under 4.0 percent. All the signs are that the economy will continue to grow and create jobs at a healthy pace in 2024 and that inflation will remain moderate for the foreseeable future.
With near-term economic prospects looking pretty damn good, we can be sure that the deficit hawks will soon be coming out of the woodwork. We can count on being regaled with talk of unprecedented levels of debt and deficits. We will hear of the need for cutting Social Security and Medicare, or cries for the creation of another deficit commission, which is the backdoor way of cutting Social Security and Medicare.
Since we all know what’s coming, we should arm ourselves with knowledge of tax farming. You’re probably wondering what tax farming is, and what it has to do with our current debt and deficit situation. In an odd way, it can tell us a great deal about how we should think about our deficits and especially our debt.
Tax farming was the practice of selling off the right to collect a specific tax. It was a common practice in pre-revolutionary France and in many other countries in prior centuries. The idea was that the government set a tax, say a customs duty on the goods that came through a specific port, and then sold off the right to collect the tax to a specific person. This gave the government an immediate infusion of cash, although it meant that it did not have access to the future revenue from the tax.
We actually still have similar practices. For example, back in 2008, Chicao’s then mayor, Richard M. Daley, sold off the right to collect revenue from city parking meters for the next 75 years for $1.16 billion. This gave Daley money to pay the bills in 2008 but cut off a stream of revenue to the city for the next seven and a half decades.
Read more here: https://www.commondreams.org/opinion/f ... mon-good(Common Dreams) Please name one country, anywhere in the world, any time in the last 7000 years, where libertarianism has succeeded and produced general peace and prosperity? There literally is none. Nowhere. Not a single one. It has never happened. Ever.
Usually it’s Republican politicians bragging that they’re “more libertarian than conservative” but this time it’s a former Democrat, Bobby Kennedy Jr., who’s reportedly thinking of running for president on the Libertarian Party ticket.
This bizarre experiment of libertarianism — now officially a political party with ballot access in all 50 states — has been promoted by the billionaire class ever since World War II. And it’s literally killing some of us, along with threatening our democratic republic.
Reporter Mark Ames documents how, back in the 1940s, a real estate lobbying group came up with the idea of creating a new political party to justify deregulating the real estate and finance industries so they could make more money.
This new “Libertarian Party” would give an ideological and political cover to their goal of becoming government-free, and they developed an elaborate pretense of governing philosophy around it.