About Bellingham Bill

Bellingham Bill

77 threads
Bellingham, WA
Followed by 0
Following 1
Ignored by 3
Ignoring 74
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In United States
Registered Apr 08, 2012

This is not my house. But it, or one like it, will be someday!

Bellingham Bill's most recent comments:

  • On 23 Oct 2014 in Middle Class Wealth Gone!, Bellingham Bill said:

    tr6 says

    On the other hand the money that's taken in as taxes could be loaned to "students" to make 8% a year.

    it could, yes, but student loans are about 3% of .gov's current outgo

  • On 23 Oct 2014 in Middle Class Wealth Gone!, Bellingham Bill said:

    my only point re taxation vs. bond sales was that in the latter case the bonds are still on the buyer's balance sheet -- so as taxation decreased 1980s to now, the net worth of "savers" aka rich people necessarily increased more vs. the prior regime of higher tax exactions.

    I agree with iwog that deficit spending itself was and is highly redistributive. How could anyone disagree, LOL

  • On 22 Oct 2014 in Middle Class Wealth Gone!, Bellingham Bill said:

    iwog says

    Someone making the claim that the national debt or deficit spending CAUSES wealth disparity needs to step up and make a case or shut the hell up. It's a ridiculous claim.

    Pretty simple case to make here; deficit spending is essentially substituting borrowing for taxation.

    Instead of exacting taxes from someone, .gov is selling them a bond.

    The former reduces personal wealth, the latter accrues interest for the holder (or did in the past at least).
    tr6 says

    but instead he negotiated with Republicans and did not get anything in return

    Back in 2010 the GOP was holding hostage such things as the emergency unemployment benefits for people out of work longer than 26 weeks.

    The president doesn't really negotiate with Congress -- he doesn't have a vote, other than the power to veto bills completely.

    The president's main power here is to go the people and whine how Congress isn't passing his agenda. But the media doesn't want higher taxes on themselves, so that's an uphill battle in this case.

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