Man Of Jackistan: Reason and Truth's Time and Place

Government Gift Card Rant #22 ( Opinion ) April 3, 2020 Automatic stabilizers for recessions makes the most sense as a policy in order to smooth out economic slowdowns. That concept means that basically as soon as the markets show signs of slowing, the federal government automatically disburses checks of a set sum until a recovery begins. It would not replace things like unemployment insurance, but rather serves as a way to put extrra capital in the pockets of Americans. Then, when the economy gets going again, the Federal Reserve would take the training wheels off, so to speak. Failing that (or even as a way to augment it), I have an idea for future US stimulus checks. We should send people gift cards, essentially, the value of which expires at the end of the fiscal year, or 365 days later or something. Maybe people get one every month and the value goes down by 10% each month it is unused, expiring entirely at the end of one year or 18 months. In a scenario with no autom...

Trump Needlessly Squandered Our Economic Relief Toolkit Rant #14 ( Opinion ) Originally March 19, 2020; posted March 20, 2020 Remember all those tax cuts enjoyed primarily by the rich and large corporations, which would supposedly create trickle-down growth, even though growth was almost exactly the same after Trump's tax bill as it had been before? You know, all those tax cuts that increased the federal deficit despite an already robust economy? Collecting money for tax revenue when we have a bustling economy--nah, not important. Increase the deficit and public debt. Many Americans stomached this, thinking that they would somehow benefit from the tax cuts when most did not or only did so slightly. Ironically, the average American will end up paying later for the money that the rich and big businesses didn't today. Lower taxes leads to lower tax revenue; assuming the budget doesn't change, this means the government needs to borrow money to pay for what ...