The financial crisis at the local level

More at http://therealnews.com/c.php?c=081001YT
In the third segment of Senior Editor Paul Jay's discussion with Leo Panitch, Leo explains how the credit crunch will affect state and municipal governments. Leo points out that the Great Depression had its roots in the bankruptcy of state and municipal governments, offering that in such a situation the national government must intervene to keep the states and municipalities solvent. Leo advocates for a hybrid of increased taxation and deficit spending to finance this, adding finally that a real solution requires more than a change in policy, but a change in deep structures.

Category:

News & Politics

Tags:

• economy
• financial
• crisis
• bailout
• rescue
• plan
• wall
• street
• credit
• crunch
• depression
• government
• taxation
• policy

[XulChris]

This guy Leo Panitch is an idiot, please take him off the air.

Investors can buy GOLD instead of bonds, you stupid idiotic moronic loggerhead.

There should be no income tax at all. Zero. Zilch. Nada.  But this idiots brain is far too small to comprehend such a system.

[1indianscout]

The system is broken

We cant support a system based on debt, the only people that benefit here are the FEDERAL RESERVE / PRIVATE BANKS

[lumpagogo]

How about ending immigration and closing the borders? That would save us $1,000,000,000,000 per year. Ending Puerto Rican citizenship would save another $200,000,000 in lost freebies.

[SpeakersChanneltv]

Thx for the vid

[matthiasfsa]

have you noticed that this channel is being partially censored? the speed has been lowered and the counter have being literally stopped.

[Sefardi123]

Trust - Productivity - Saving - Planning.

On the CITIZEN's level.

No "clever maneuver" can replace these

essentials.

[madebutante]

NO TAXATION WITH OUT REPRESENTATION. PROTEST BY NOT PAYING YOUR TAXES. Spirit of '76. (And get rid of the MICC)

[bbburton]

That is the problem with the taxation. Allowing the gov to discriminate as to who is taxed, and who gets the tax revenue is dangerous to a republic. Redistribution of wealth is a fantasy whereby the illusion of prosperity is achieved through taxation and redistribution. In the end only the wealthy are spared and everyone else is brought down to the same level. That's what they consider economic equality. The gov can't make people equally rich, but they sure can make us all equally poor.

[danthemango]

huh, they promised me 40 years. crap

[danthemango]

Taxing the poor and giving to the rich isn't a good idea either.

[TVParkdale]

bbburton:

That's one way of looking at it. Heinlein [great writer] believed the same thing.

Realistically however, I can't see a way of keeping track of tax money, in this technological age, without some sort of mathematical system.

[pongman]

That seems fair to me.