[ExI] Summer weather and COVID-19

[spike at rainier66.com]

From: extropy-chat <extropy-chat-bounces at lists.extropy.org> On Behalf Of John Clark via extropy-chat
Subject: Re: [ExI] Summer weather and COVID-19

 

On Sun, May 24, 2020 at 11:08 AM Bill Hibbard via extropy-chat <extropy-chat at lists.extropy.org <mailto:extropy-chat at lists.extropy.org> > wrote:

 

Spike Jones wrote:
>> Counterproposal: government workers have a base salary. If the fed takes in less money than necessary to pay everyone, then the salaries are reduced by that fraction.


> That is sort of how the WI state retirement system works.

 

>…Sometimes state governments have no choice but to do things like that because unlike the federal government they don't have the superpower to create money from nothing.

 

 John K Clark

 

This is exactly why I argue that most of the heavy lifting in government should be done at the state level.  It reduces the temptation of the Federal Reserve to dilute the currency, which would ruin the most vulnerable among us.

 

State governments have way more tax options than the Fed.  They can tax real estate, they can tax fuel, they can tax sales, and they can tax income.  California does all these, and they are free to raise those taxes as high as they want, and California does.  The Fed only has income tax, only income.

 

spike

 

 

 

 

 

 

 

 

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