Tiny what do you and your economic friend think about this Chips Bill

[the_real_Barleycorn]

My question is how throwing 280 billion at a problem will solve it. We need details. If making chips is so necessary, so lucrative, and so easy...why isn't everyone doing it without government assistance.

Seems to me that any computer company would like to cut out the middle man by making their own chips.

[WTF]

Originally Posted by the_real_Barleycorn

My question is how throwing 280 billion at a problem will solve it. We need details. If making chips is so necessary, so lucrative, and so easy...why isn't everyone doing it without government assistance.

Seems to me that any computer company would like to cut out the middle man by making their own chips.

You sound like Bernie Sanders...you and Tiny!

[WTF]

Originally Posted by Tiny

Then why do you want to deny poor Florida children a measly $35 million? Your plan to do something about income inequality is to tax the hell out of the top 1% and the corporations. (Aside: you’d of course exempt midstream MLP’s like the ones you own from ANY income tax.)

Instead we should be helping the disadvantaged to get a leg up, for example with better schools, lower health care costs, and yes, programs like DeSantis’, only larger.

You know why I’m bringing your attention to the fact that the “inequality” exists because of poor Americans? That our middle class is prosperous? Because I pulled that out of Saez and Zucman’s book. I’m reading it. They’re biased and completely full of shit about a lot of things, but they’re right about that.

You sound exactly like Bernie!


https://www.commondreams.org/news/20...yday-chips-act


For $76 billion we could expand Medicare to provide senior citizens with the high-quality hearing aids and eyeglasses that they desperately need. And for a bit more we could provide dental care as well. For $76 billion we could eliminate homelessness in America and create good-paying jobs from Maine to California building hundreds of thousands of affordable rental units. For $76 billion we could make every community college in America tuition free for the next seven years. And on and on it goes.

[Tiny]

Originally Posted by WTF

You sound exactly like Bernie!


https://www.commondreams.org/news/20...yday-chips-act


For $76 billion we could expand Medicare to provide senior citizens with the high-quality hearing aids and eyeglasses that they desperately need. And for a bit more we could provide dental care as well. For $76 billion we could eliminate homelessness in America and create good-paying jobs from Maine to California building hundreds of thousands of affordable rental units. For $76 billion we could make every community college in America tuition free for the next seven years. And on and on it goes.

You and Bernie just want to tax more and spend more money. There’s too little competition in terms of quality and price in our health care system. We should be able to cut costs by 60%, provide universal care, and improve outcomes based on other countries’ experiences. I prefer a system like Singapore’s with a vibrant private sector operating in health services. But just about anything would work better than what we’ve got now.

Mindlessly throwing money at things like what you and Bernie want to do doesn’t do much good, except to run up debt and taxes more.

[texassapper]

I like the whole government concept that if we had

-30,614,373,000,000 in credit card debt
-6,012,593,000,000 in annual spending
+4,407,000,000,000 in annual revenue

and thinking that spending another 280,000,000,000 is going to matter in the end....

[Tiny]

Originally Posted by texassapper

I like the whole government concept that if we had

-30,614,373,000,000 in credit card debt
-6,012,593,000,000 in annual spending
+4,407,000,000,000 in annual revenue

and thinking that spending another 280,000,000,000 is going to matter in the end....

That implies a deficit of $1.6 trillion. Is that the estimate for 2022?

The budget deficit in the 2021 fiscal year was $2.77 trillion. We can thank both political parties for that. We can thank the Democrats, with their $1.9 trillion American Rescue Plan, more.

[WTF]

Originally Posted by Tiny

You and Bernie just want to tax more and spend more money. There’s too little competition in terms of quality and price in our health care system. We should be able to cut costs by 60%, provide universal care, and improve outcomes based on other countries’ experiences. I prefer a system like Singapore’s with a vibrant private sector operating in health services. But just about anything would work better than what we’ve got now.

Mindlessly throwing money at things like what you and Bernie want to do doesn’t do much good, except to run up debt and taxes more.

You keep distorting what I've said
and I'm going to have to change your handle from Tiny to Giant...Giant Pinocchio.

You're the one greenlighting the concept of giving away more money to offset the inflation your prior money give away caused! Get lustylad to tell tell you what the term is called when you do that with wages and now you're sounding like Bernie.

You're way late to the healthcare debate....I was partial to the French's' healthcare system. Probably because I had used it prior but Singapore would do. We did bend the spending curve with Obamacare but blew a great opportunity to transform healthcare in this country.

Our way of government is not efficient in this new world order. That should be the real debate.

[HedonistForever]

Tiny, Texas Contrarian, LustyLad, anybody! What is the rational on the Democrat side that MORE spending will lower inflation? How is that possible? They seem to be saying that there is a "category" of spending that will reduce inflation and deficits. What the heck is that "category"?

[the_real_Barleycorn]

Econ 101, the more money chasing fewer goods and you get price increases that we like to call inflation.
So, because of the lock down and supply chain issues (still not addressed by Bootipig) we have fewer goods and even with the same amount of money, we'd have inflation. Biden pumped money into the economy, money from your grandchildren, without increasing the goods. Inflation! Trump REPLACED pay checks with future government money but Biden, not once, not twice, but three times now has put extra money into the economy. What will be the final inflation rate...11%, 13%, or 15%?

[Tiny]

Originally Posted by WTF

You keep distorting what I've said
and I'm going to have to change your handle from Tiny to Giant...Giant Pinocchio.

You're the one greenlighting the concept of giving away more money to offset the inflation your prior money give away caused! Get lustylad to tell tell you what the term is called when you do that with wages and now you're sounding like Bernie.

You're way late to the healthcare debate....I was partial to the French's' healthcare system. Probably because I had used it prior but Singapore would do. We did bend the spending curve with Obamacare but blew a great opportunity to transform healthcare in this country.

Our way of government is not efficient in this new world order. That should be the real debate.

I should have figured. You're partial to the French system. I knew you and Bernie were admirers of Francois Hollande and the radical left economists Piketty, Saez and Zucman, all from France. I bet you like Jerry Lewis and Mickey Rourke too.

[Tiny]

Originally Posted by HedonistForever

Tiny, Texas Contrarian, LustyLad, anybody! What is the rational on the Democrat side that MORE spending will lower inflation? How is that possible? They seem to be saying that there is a "category" of spending that will reduce inflation and deficits. What the heck is that "category"?

Hi Hedonist. I haven't seen that, but I'd suspect the rationale for spending more is the same as what WTF's trying to pin on DeSantis and me. Inflation in goods and services has been higher than inflation in wages. So people are falling behind and need some help to keep up with everyday expenses.

Of course this could end up as a vicious circle. People are losing purchasing power so you give them money to help, maybe another American Rescue Plan, which in turns supercharges inflation, which causes their purchasing power to fall behind more, etc. Before you know it you've got Argentine style hyper-inflation.

The weakness in WTF's argument is that DeSantis only spent $35 million helping poor people with children in a $22 trillion economy. That's 0.00016% of GDP. So in WTF's view that's going to cause prices to go up. Right.

As to the rationale that more government spending will decrease inflation, if someone's saying that, the only rationale I can think of is something like peyote. That doesn't make much sense.

[HedonistForever]

Originally Posted by Tiny

Hi Hedonist. I haven't seen that, but I'd suspect the rationale for spending more is the same as what WTF's trying to pin on DeSantis and me. Inflation in goods and services has been higher than inflation in wages. So people are falling behind and need some help to keep up with everyday expenses.

Of course this could end up as a vicious circle. People are losing purchasing power so you give them money to help, maybe another American Rescue Plan, which in turns supercharges inflation, which causes their purchasing power to fall behind more, etc. Before you know it you've got Argentine style hyper-inflation.

The weakness in WTF's argument is that DeSantis only spent $35 million helping poor people with children in a $22 trillion economy. That's 0.00016% of GDP. So in WTF's view that's going to cause prices to go up. Right.

As to the rationale that more government spending will decrease inflation, if someone's saying that, the only rationale I can think of is something like peyote. That doesn't make much sense.

From what I heard, that was Joe Manchin's reason for folding to Schumer. Manchin was some how convince that after "carefully looking at the bill and seeing "some" money to protect oil and gas in West Virginia", he came out and said that this bill will "decrease inflation and deficits" but of course he has not released a detailed explanation of how that will happen and probably never will.


One commentator said that Manchin was so in need of a Democrat "hug" from AOC, that he caved.

[WTF]

Originally Posted by Tiny

Hi Hedonist. I haven't seen that, but I'd suspect the rationale for spending more is the same as what WTF's trying to pin on DeSantis and me.

I bet Bernie would agree with you and DeSantis too!

Originally Posted by Tiny

The weakness in WTF's argument is that DeSantis only spent $35 million helping poor people with children in a $22 trillion economy. That's 0.00016% of GDP. So in WTF's view that's going to cause prices to go up. Right.

.

Damn Reaganites....never miss a chance to justify their reasons for piling on more debt!

[Lantern2814]

There have been some sources saying that Sinema is not on board with some parts of this bill. If so, considering what she’s already been put through by the Dems, she won’t cave easily if at all. So there’s still no guarantee that Schumer gets this passed. The question may eventually come up as well that all revenue bills have to originate in the House.

[WTF]

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