Message from @NewRogernomics

Discord ID: 649101204382547982


2019-11-27 04:09:10 UTC  

but same party is also in bed with military industrial complex, which is a huge tool of fiscal policy

2019-11-27 04:09:32 UTC  

yea, the immigration issue also come sfrom same misunderstanding. I think that might be one way around it

2019-11-27 04:09:48 UTC  

the nativists might be convinced if you show them about how the labor woes are really caused by the policies

2019-11-27 04:09:57 UTC  

NZ is kinda the reverse of the US in that we spend way too little, even when we know where money needs to go.

2019-11-27 04:09:58 UTC  

dangerous well to drink from but something has to give

2019-11-27 04:10:23 UTC  

NZ govts have a heavy fear of inflation and government debt.

2019-11-27 04:10:39 UTC  

yea, the US has a military industial complex and the hypocracy around championing it makes it sort of impossible to do completely euro-style austerity pushes here

2019-11-27 04:11:20 UTC  

the inflation issue is a misunderstanding of how we get the price level and also the effects of demand for credit on aggregate demand

2019-11-27 04:11:25 UTC  

Well, at least from what I see the US is spending the right amounts in education, healthcare, and on the military, but not putting it in the right places or letting it be wasted.

2019-11-27 04:11:31 UTC  

some fiscal policies might be DEFLATIONARY ironically

2019-11-27 04:11:37 UTC  

because they would lower credit demand

2019-11-27 04:12:54 UTC  

Realistically, the amount the US is spending, it should be getting way better outcomes in education at least...yet school systems are failing, and the response seems to be 'we need more money'.

2019-11-27 04:13:10 UTC  

they would be deflationary in exactly the areas the elites hate as well, asset prices

2019-11-27 04:13:58 UTC  

they need more money, but it's also the pressure on the parents for having to work so much, and ideological battles inside system i only mildly understand

2019-11-27 04:14:30 UTC  

There are lot of high admin costs, yet teachers are low paid compared to the job they do, and classrooms are without the resources they need.

2019-11-27 04:14:47 UTC  

it all has to go to the top or it can't happen

2019-11-27 04:15:07 UTC  

that tells me it's about more than simply a misunderstanding of the economics

2019-11-27 04:15:48 UTC  

At least from the way I see it, both major parties have no clue over what direction to go in.

2019-11-27 04:15:51 UTC  

it varies by state/locality here though, you can see dramatic differences if you travel aroudn US

2019-11-27 04:16:21 UTC  

in the US, i think the far left is becoming the more rational group, which excludes mainstream democrats for the most part

2019-11-27 04:16:26 UTC  

I disagree with both parties, and have pretty much given up on trying to understand where they are going.

2019-11-27 04:16:52 UTC  

wealth inequality has macroeconomic effects, alongside all the social justice stuff

2019-11-27 04:17:13 UTC  

Well, on a real basic level, I think the tax system needs work.

2019-11-27 04:17:24 UTC  

as workers share of GDP shrinks, aggregate demand drops

2019-11-27 04:17:44 UTC  

sure, but i woudl say more for the labor savings than any real issue of taxation

2019-11-27 04:17:51 UTC  

The way the US system is set up, tax avoidance is a major issue, and it seems to hurt the poor and middle class.

2019-11-27 04:18:22 UTC  

tax system could stay exactly the same and you could fix latter part just from fiscal policy

2019-11-27 04:18:40 UTC  

And the tax avoidance is kinda built-in, and it isn't a bug and rather a feature.

2019-11-27 04:18:41 UTC  

tax policy is really about how efficiently you want to control inflation AND/OR social engineering goals

2019-11-27 04:19:18 UTC  

You'd have to figure out how to tax higher incomes.

2019-11-27 04:19:42 UTC  

I've heard some floated ideas, like taxing shares,etc, as well as a flat tax.

2019-11-27 04:19:49 UTC  

no real magic to that, the us has had dramatically higher marginal tax rates before, though it doesn't really do wht they want it to because spending habits change less higher up you go

2019-11-27 04:20:00 UTC  

so that would be mostly a social engineering goal

2019-11-27 04:20:10 UTC  

if you want to control inflation, consumption taxes work better

2019-11-27 04:20:29 UTC  

(and that should be the main goal of tax policy in monetary economy)

2019-11-27 04:21:07 UTC  

I can't say whether it is right or wrong: Though in NZ, it has a high sales tax, coupled with a flat tax system based upon income level, with no exemptions for charities as much as in the US.

2019-11-27 04:21:47 UTC  

My folks kinda feel they are paying more tax here than in NZ.

2019-11-27 04:22:09 UTC  

they might be, us has a very diverse system depending on how you make your money

2019-11-27 04:22:42 UTC  

I don't think NZ has capital gains taxes either

2019-11-27 04:22:58 UTC  

or it's not separate at least

2019-11-27 04:23:09 UTC  

They paid the top tax rate in NZ, which was 33%