Stephanie Kelton provides a really good answer to the question of How Can We Afford Medicare for All? She points out that the US currently pays TWICE what others industrialized countries pay. At first glance, it seems weird to ask how we'll pay for something that costs significantly less than what we're currently paying. The … Continue reading How Can We Afford Medicare for All?
To be clear, this applies to currency issuing governments ONLY. This is true of the US Federal government. This is not true of the government of Texas. The US is the currency ISSUER. Texas is a currency USER, just like you and me. Having said that, the reason we have money is because the currency … Continue reading Government Deficit Spending Creates Private Sector Surpluses
There is a common narrative in our culture that high marginal tax rates are bad for the economy. Just this morning, in Davos, Switzerland, both Bill Gates and Michael Dell said as such. This blog post is my attempt to explain why this is NOT true. Why high marginal tax rates are in fact, good … Continue reading Why the 70% Tax Rate Would Be Good for the Economy