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Twitterまとめ投稿 2020/07/19

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ZacharyStist


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Household costs rising higher than income: This is a problem, but if we look at households, we're looking at more than the price of food for one family, we are looking at spending on other needs as well.

Housing costs increasing: This isn't a problem, but if you look at housing, especially housing as opposed to rent, you are seeing that we're seeing a sharp increase in the cost of renting.

Taxes and the deficit: In terms of taxes, I think taxes will increase to where they're comfortable in the future, which can be difficult, even in the short term.

Our infrastructure spending is being cut back, or it's shrinking, as we talk about infrastructure.

And I don't know if everyone in the room believes it, but there is some concern right now about the federal debt, and whether we should continue in that trajectory, or if we're going to want to make this investment.

But we have to look beyond that, because for the vast majority of people, their net worth is going to have an impact on how their taxes are paid, and what the future economic effects are of those tax cuts for the wealthy in some cases.

Here's a number for you, that if you believe that tax cuts for the rich are good for the economy – if you believe that the economic benefits of those tax cuts outweigh the cost and the benefits for the middle class outweigh the cost to the middle class, that's a good argument.

A million households will have no net worth. They could have net worth – probably a couple of thousand people – but their net worth has been eroded significantly. Some of the people who will not have that net worth will be people with lower incomes, and people who have already paid some taxes, so there's a higher cost of that, but those are the kinds of decisions that will actually affect you, and will drive the future course of economic growth, and, in a lot of cases, the growth of the Middle Class.

One last thing I would say is that many people have a different understanding of what a balanced budget is, as to how you achieve balanced budgets, and whether you have to pass a balanced budget. For example, there is a lot of people who think you need to take a very strong, long, hard line and pass a balanced budget, and if you don't, then it's kind of like your life sucks.

I think a lot of people in this room do believe that we need to have a balanced budget, but there's a problem, and it goes back to what the debt is, about whether the balance you need is between debt to GDP, or debt to debt to GDP, and that debt to GDP doesn't include interest payments.
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by ZacharyStist (2020-07-19 15:42) 

Snubs

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by Snubs (2020-07-19 17:17) 

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