Noam Chomsky - Taxes

As it says.

Category:

News & Politics

Tags:

• Taxes
• Government
• Rich
• Poor
• Class
• War
• Capitalism
• Socialism
• Neoliberalism

[dantheman3193]

can someone finish his sentence

[sfjeff1089]

Where is the rest of the video? He was just getting to the interesting part!

[allgoo19]

@AroundSun "It is the fractional reserve banking principle of the federal reserve that is shot. If this system was in place, you wouldn't need Glass Steagall."

==

I have never heard of this.

Please explain what "Glass-Steagall act" supposed to do and its relation to fractional reserve banking.

[donnyforte2]

@SlighRock "The whole sub prime mortgage collapse is the government's fault"

Well, you got one thing right, and thanks to those three Republicans sponsoring this legislation. Add on 2 large-scale wars put on credit, stealing trillions from SS to hide the debt, expanding medicare without paying for it, and supplying tax breaks to people who don't need at the top, and you've got yourself a shitload of trouble. Ground zero is Wall Street. The Fed comes in second, it needs nationalizing and an audit

[AroundSun]

Commodity backed currency makes our money worth more over time and keeps its value. Loans are supposed to be based on savings, not printing money and hoping the economy grows by the same amount you printed. I mean, they are playing god with the economy and poor people pay higher prices because of it. The fed is a transfer of wealth from main street to wall street and it is the gov'ts fault. Besides, what are we going to do when the rest of the world dumps the dollar like a prom night hooker?

[AroundSun]

@donnyforte2 Your whole 'the wealth' nonsense is bogus. There is no set wealth, wealth is created. If me being richer made you poorer, we would be the poorest country in the world because we have the most amount of billionaires. People with money can't 'hoard' it either, that doesn't make any sense. It is invested into goods and services people want creating employment for people. Or it is kept in the bank which lowers interest rates.

[AroundSun]

@donnyforte2 Glass Steagall is like, your holy grail of arguments. The community reinvestment act forced the banks to lend. The whole sub prime mortgage collapse is the government's fault. It is the fractional reserve banking principle of the federal reserve that is shot. If this system was in place, you wouldn't need Glass Steagall. Private banks would take responsibility without a helping hand from government. Politicians thought a free lunch was possible.

[donnyforte2]

@AroundSun We wouldn't be printing money if it wasn't thanks to idiots like Phil Gramm sponsoring legislation to repeal Glass Steagall--- we wouldn't be in half the mess we are today. The funny thing is, Wall Street is making money off of other money, which makes no sense, yet I don't hear any crying from the right. Screwing the SEC and moving the FBI off white collar crimes is also not advisable. The bottom 50% control less than 3% of all wealth in this nation, and it is a refocus of power.

[AroundSun]

@donnyforte2 A reduction in the scope and size in government with lower taxes, less regulation, and free trade will in fact give us an increase in wealth. You think if someone is rich that it makes someone else poorer. Stop talking about refocusing power, nobody said refocus federal power at the state level.

[AroundSun]

@donnyforte2 Any commodity backed currency is idiotic? Says who?! You can't fix the fed, you end it. That is like saying what do you replace cancer with. You make no sense right off the bat talking about inflation, when the fiat currency we use can be increased out of thin air. The increase in the money supply IS what causes inflation. Why do you think gold is hitting record high's every week? The price of gold doesn't increase, the dollar falls. Too much for you to understand.