Tom Toles by Tom Toles

Tom Toles

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  1. Quipss

    Quipss said, over 2 years ago

    As a little bit of education, the concept of printing money for financing the government is

    A) not a new and desperate idea to deal with deficit
    B) A crazy left wing idea.

    The concept had existed essentially since the depression in Canada, http://en.wikipedia.org/wiki/Social_Credit_Party_of_Canada

    Originally a right wing idea, the concept is that by making simply printing money and giving it the government could eliminate all taxes at the expense of inflation.
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    However this idea by many is believed flawed, This is due to the nature that there is no guarantee as to how much the government would print, as a result the dollar is effectively believed not only to have lost the value of what is printed but also of what could be printed, in other words the dollar has lost all value.

    That said a 1 time trillion dollar coin might not have such an effect when you consider the competition

    The Japanese Yen, which due to a deflation spiral has been used mainly to exchange for other currency
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    The Chinese Renminbi, If you think that 1 trillion dollars is manipulating currency you will have a heart attack
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    The Euro…. I’m presuming this needs no explanation
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    The indian Rupee, Massive inflation, highly manipulated. Trying to switch over would be the same as putting hand to try to clear a blender.

    However it may not be a good idea to gamble the entire currency when a 2% marginal tax raise may be viable.

  2. Quipss

    Quipss said, over 2 years ago

    adding on, the reason it can’t be issued as a regular coin or bill is not to try and trick anyone, its because the Federal Reserve. A private institution that would print the money at an interest to give to the federal government has a near exclusive monopoly on the US dollar. The platinum is that most people would call a “loophole”

  3. Robert Landers

    Robert Landers said, over 2 years ago

    While I do not agree with every item on your list, not a bad list over all!

    But, do you actually expect our current Congress (especially the Tea Party area of the House of Representatives) to even begin to do this?

    Well……. there is always 2014!!

  4. Michael wme

    Michael wme said, over 2 years ago

    The top rate was 91% on unearned income. The top rate on earned income was 50%. The top rate on long-term capital gains was about 45% (since most of long-term capital gains was really just inflation).


    Since profits were taxed away, businesses invested the money updating capital equipment, making US industry the most advanced in the world. Even with salaries three or four times higher than the competition, US labour was so productive it was cheaper to produce in the US!


    With low taxes, the rich now take the profits for themselves, the US capital infrastructure has fallen far behind the competition, and Chinese labour can now produce for less per unit than US labour, so that’s where industrial production is going. Chinese wages are rising, and, eventually, the Chinese worker will get more per hour than the US worker, because the productivity will be much higher, and jobs will stay in China because the US lacks the capital to produce efficiently, so unit costs will be higher in the US (and Ss Smoot and Hawley will be resuscitated).


    The New York Times reports that the Chinese government reports that air quality is improving in China, but that’s false because the US government assures us that China’s air quality is the worst in the world and getting even worse. Obviously, either China or the US is lying. What is no longer obvious is which one.

  5. Night-Gaunt49

    Night-Gaunt49 GoComics PRO Member said, over 2 years ago

    @Michael wme

    As far as pollution, China is making more over all than in the USA. But per citizen, we produce more pollution as individuals.

  6. richardelguru

    richardelguru GoComics PRO Member said, over 2 years ago

    @ Clark
    Super, man.

  7. mikefive

    mikefive said, over 2 years ago

    There are times when you display a perception of reality that is stunning.

  8. Rad-ish

    Rad-ish GoComics PRO Member said, over 2 years ago

    Photobucket

  9. onceisenough

    onceisenough said, over 2 years ago

    If those blithering idiots in Washington do not do something to control spending, you are going to need one of these coins to buy a loaf of bread.

  10. mickey1339

    mickey1339 GoComics PRO Member said, over 2 years ago

    I suppose it’s foolish to even add anything to this but Hannity’s combined salaries were only 22 million, not forty. By contrast, Rachel Maddow only makes 2 million a year, but Fox viewership is much higher and consistently beats their competition in the ratings. I just couldn’t resist adding that, even though I cannot stand listening to either one of them for longer than 2 minutes before the image of rabid dogs starts replacing the image on the screen.

    http://wiki.answers.com/Q/What_is_Sean_Hannity_fox_news_income

  11. jack75287

    jack75287 said, over 2 years ago

    @Quipss

    I agree with most of what you say but who says this is a right wing idea. Currency manipulation is not knew and trying to blame it on our current political ideas is wrong.

  12. ARodney

    ARodney said, over 2 years ago

    @Quipss

    The problem with your analysis is that we’ve been printing money and there has been no inflation. It turns out it matters that we’re in a liquidity trap where those who need to buy have no money (virtually all of the benefits of Obama’s recovery having gone to the top 0.1%). Once employment gets back up, and if wages start rising to match productivity, we can stop printing money.

  13. jack75287

    jack75287 said, over 2 years ago

    Two questions, wasn’t it Kennedy that ended that 75% rate? Also if you believe that a person should pay three out of four dollars because of there success isn’t that a kind of slavery?

  14. jack75287

    jack75287 said, over 2 years ago

    Yeah a Nobel Peace Prize winner with a kill list!

  15. M Ster

    M Ster said, over 2 years ago

    @Michael wme

    Michael wme said, “Since profits were taxed away, businesses invested the money updating capital equipment, making US industry the most advanced in the world. ….With low taxes, the rich now take the profits for themselves…”
    *
    I agree.This is no different than a homeowner buying a house rather than renting. The tax deductions often make it a financially smart decision, and in the end, you own an asset.

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