2018-08-28: Taxes do not fund sovereign spending. Inspired by Why I Am Not Wildly Enthusiastic about Sanders' Plan to Tax Amazon. Lambert says:
Let me now turn to the problems with Sanders' plan to have a plan... The framing reinforces the notion that Federal taxespay forFederal spending, so Sanders traps us in the austerity box... Federal taxes do not pay for Federal spending, nor do taxpayers... It is not true, as Sanders says, thatyou pay for it.You don't... Unfortunately for us all, the implications of Sanders' framing are horrific, whether for the left, or liberals of good faith, if any... Thefiscal myththat taxes pay for Federal spending is already being used to attack #MedicareForAll. When Sanders asks and answersYou know who pays for those programs? You do,he's teaching an entire constituency a falsehood that actively works to undermine working class interests in universal concrete material benefits! Why on earth would Sanders do this?
2018-07-17: Revisions to argument.
2018-06-26: Brief remarks on argument, reflecting the rather unsatisfying course which so many conversations seem to take.
2018-06-19: A brief meditation on respect, corresponding to remarks I often make to my liberal friends.
2018-04-20: Happy 4/20 to all! Over at Naked Capitalism, Lambert is fundraising for the Water Cooler. If you've got it to spare, be sure to give. Nobody works harder to bring us real news and original analysis.
2018-04-15: A short piece on lies.
2018-03-12: Greetings to our new readers, and thanks for your visits and your consideration. New material coming soon, I promise. Apologies for outages as our shoestring operation was subject to power and internet losses in the recent spate of Nor'easters. Possibly another tonight!
2018-01-24: Austerity is a policy choice (abstract).
2018-01-23: Fiat money is unbounded.
2017-12-19: Huge shout-out to Zero Anthropology on their 10th anniversary! Max Forte provides carefully researched, superbly argued challenges to conventional wisdom that have been a major influence in my ongoing program of study of indigenous cultures and neoliberalism, colonialism, imperialism, and globalization. And I really appreciate the style of posting:
[Our] current pattern of production...is very slow, very deliberate, with comparatively long articles that are as well researched as possible... our engagement withHighly recommended.social mediahas been substantially pared down in recent years and months, not to devote our free labour to inflating the value of an environment dominated/censored by US interests and US corporations -- and because most of the important realizations and understandings are not produced a dozen per second instreams,feedsandtimelines.Release early, release often,I slowly came to realize is the slogan of those who prefer instant recognition and constant gratification, likely inspired by asocial mediaenvironment dominated by the celebrity-activist-journalist type.
2017-12-19: Apologies for long absence; other commitments have kept me away but I will return with new material soon!
2017-10-23: Punched up the purpose.
2017-10-21: Incorporated a supporting excerpt from a magnificent review of a century of economic struggle, by Michael Hudson, in bankers as unelected sovereigns.
2017-10-18: Refactored Getting Money Right to provide the whole essay in one page and, alternatively, each section having an individual page for specificity of linkage. Individual sections start here. Also the swelling chorus remaking the conventional wisdom about money.
2017-10-17: Affording what we want.
2017-10-09: Supplied robots.txt to allow everything.
2017-09-19: Fleshed out taxes drive money.
2017-09-15: Standardized linking in Getting Money Right and title fixes in supporting reference materials.
2017-09-02: Going live!Old news...