@PurefoyAmebo @TheStalwart If they're using natural gas, they're doing it wrong. #SolarPanels for the win!
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Derek Ross
6.7K posts
Derek Ross
@wikiDerek
Procrastinator Extraordinaire. Likes #LVT (#LandValueTax), #MMT (#ModernMoneyTheory), #UBI (#UniversalBasicIncome), #Sortition and #QI (#QuantisedInertia)
Nova Scotia, Canada Katılım Aralık 2013
116 Takip Edilen322 Takipçiler
@TheStalwart Wait till they find out what happens when there's no natural gas to charge them cheaply 😅
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WOW. Just in the last two weeks, BYD showrooms around the world are seeing a surge in customer demand from people who are deciding that now is the time to switch to EVS, with oil prices so high. bloomberg.com/news/articles/…
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@PatrickSquirrel @DavidMcNab17 @tonywestonuk @barua_ashish I'm pretty sure that would cause a lot more ill-feeling than the current system.
And it didn't work particularly well in Soviet times. Whereas the current system works Just Fine most of the time.
So hardly the same.
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@DavidMcNab17 @tonywestonuk @wikiDerek @barua_ashish Imagine that the state, instead of issuing a tax demand, sequestered your produce. Then a note holder could come to the state superstore, and redeem his note for your produce, much like the CB used to for silver.
It's the same except the state just takes the notes from you
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Can we please stop pretending that crossing some random, made-up “debt limit” is the end of the world? It’s not!
This whole panic around national debt is just built on a complete misunderstanding of how money even works.
That “debt” everyone is freaking out about? It’s literally just the total amount of currency the government has issued, nothing more, nothing mystical, nothing catastrophic.
And yet people keep comparing a currency-issuing government to a household like it’s the same thing, seriously? A household can run out of money.
A government that issues its own currency cannot. Full stop. This isn’t complicated, it’s just a basic reality that people refuse to accept.
The real problem isn’t the so-called debt, it’s this obsession with arbitrary limits and fear-driven narratives that keep getting recycled without anyone stopping to question them. It’s exhausting. #LearnMMT #NationalDebt
Jackson Hinkle 🇺🇸@jacksonhinklle
🚨🇺🇸 BREAKING: US national debt reaches $39 trillion.
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@volcaholic1 Putting petrol in my car? That's so 2010s. EV all the way for me!
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@DavidMcNab17 @tonywestonuk @PatrickSquirrel @barua_ashish In an ideal world we are the state. In the real world only a few of us are the state. And those few don't necessarily have the interests of the rest of us in mind. It's nice when they do but there's no guarantee.
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@tonywestonuk @PatrickSquirrel @wikiDerek @barua_ashish To an extent - but we are the state. It is us. We hand people authority to run our state on our behalf.
Don’t most of our problems stem from the imagined disconnect between “the state” and “the economy”?
Them and us?
Enslaved in a wellbeing state?
Bring it.
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@PatrickSquirrel @tonywestonuk @barua_ashish @DavidMcNab17 German bondholders got nothing. German taxpayers paid nothing.
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@PatrickSquirrel @tonywestonuk @barua_ashish @DavidMcNab17 Before Germany was defeated in 1945, it owed a huge National Debt to German citizens. Did German citizens have to pay that debt after the government was defeated?
Nope! The debt was just written off. German MEFO holders got nothing and paid nothing. The National Debt vanished.
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@xcsler @barua_ashish @DavidMcNab17 It's circular. But it's the way that most economies have worked for the last 5,000 years at least. And for the most part it does work. That being so, does it matter whether it's rational?
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@wikiDerek @barua_ashish @DavidMcNab17 'They' is 'us'. 'They' pay their debts to 'us' by taking money from 'us' to give back to 'us'. Do you think this is a rational system?
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@DavidMcNab17 @barua_ashish They do. Each of those currency notes is a tax credit. The notes are an acknowledgement that they owe us the cancellation of any debt that we owe them.
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@wikiDerek @barua_ashish They OWED it to us - for some service or good. Their debt is paid when they issue currency in exchange for our labour. They don’t ‘owe’ us anything after that, other than they will exchange our money for tax liabilities.
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@jacksonhinklle Government debt is our savings. They owe it to us.
Sure we can reduce the National Debt if we're all prepared to reduce our savings and so reduce our personal net worth. Are you ready to do that?
The #NationalDebt is the #NationalSavings. US savings are now $39 trillion.
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🚨🇺🇸 BREAKING: US national debt reaches $39 trillion.
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@LNallalingham Almost right.
The actual fun fact is:
The Government spends £2.6 million of government money EVERY minute.
UK taxpayers and foreigners pay £2.3 million EVERY minute in tax with that money.
UK taxpayers and foreigners keep the other £0.3 million as savings EVERY minute.
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🚨 Fun Fact:
UK taxpayers pay £2.3 million EVERY minute in tax.
The Government spends £2.6 million of taxpayers money EVERY minute.
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@CricketSurfing @GallmanRussell @YouTube Depends upon the tax. There are some taxes where the Laffer peak is at the 10% level and some where it's at the 90% level.
If we took the Laffer Curve seriously we would use it to select taxes with Laffer peaks at or above the 90% level.
Taxes such as #LandValueTax
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@GallmanRussell @YouTube It is not, in fact, wrong. It is practically self-evident: set tax rates high enough, and people will modify their behavior to avoid them.
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Always worth repeating. Laffer has caused enormous harm.
The Laffer Curve is wrong, and here is the proof youtu.be/X3WtE1SPv-o?si… via @YouTube
YouTube
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@djohnsonmsp Factually incorrect. In Scotland the new ‘mansion tax’ bands will be retained in the local authority the property sits. The Westminster Government has ensured the tax raised in their version of ‘mansion tax’ will go to HM Treasury, who will spend the money elsewhere in England.
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The SNP are plotting a brutal tax raid on Edinburgh.
This tax would disproportionately affect our city with no guarantee that the money would be spent locally.
They call this a 'mansion tax' but here in Edinburgh, it will have the biggest impact on family homes.
Let's reject the SNPs Edinburgh tax and let's reject a third decade of SNP incompetence on 7th May.
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Derek Ross retweetledi
Let me get this straight…
OpenAI was founded as a nonprofit. Open source. For everyone. “To benefit humanity.”
Then he raised billions of dollars.
Then he closed the source code.
Then he converted to for-profit.
Then he scraped the entire internet without asking anyone.
Then he used YOUR writing YOUR art YOUR code to train his models.
Now he’s on stage saying you’ll pay HIM to access intelligence. Just like a water meter.
He stole all of your data. He built the product with your work. And now he’s going to bill you to use it…
Corporate greed has reached an all time high, and they’re not even hiding it anymore…
Chief Nerd@TheChiefNerd
🚨 SAM ALTMAN: “We see a future where intelligence is a utility, like electricity or water, and people buy it from us on a meter.”
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@Trollsvszombies @malcolm_reavell Oh yeah? Try giving them a tenner that you created at home.
If you don't give them one of the tenners they created, they will get seriously annoyed.
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@malcolm_reavell You’re sharing authoritarian propaganda. Governments don’t create money, they only take money. Climate change is an excuse they use.
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Debt fear mongering nonsense. Forget it. Either create the money and spend to deal with the climate crisis or balance the budget and die. The debt hurts no one. Balanced budgets will kill us all.
NEF@NEF
🚨NEW: The impact of climate change on our economic stability is being hugely underestimated. Our latest analysis shows climate damage could drive the EU’s debt-to-GDP ratio 58 percentage points higher than official projections by 2050.
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Derek Ross retweetledi
Love this experience by one of the basic income pilot participants in Wales. They got £1,290 a month after tax for two years (about $1,862/mo), and at first they planned to not get a job, but then after getting into the pilot, they changed their mind, because why not do more to get more money?
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Derek Ross retweetledi
#Georgism
Those who own land can grow rich in their sleep without providing anything in return
This is a play on John Stuart Mill's famous quote:
Landlords grow rich in their sleep without working, risking or economizing. The increase in the value of...
reddit.com/r/georgism/com…
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Derek Ross retweetledi
@BiatchDulce It's a plantation, not a free market.
As long as labor and commerce are taxed instead of land ownership, the masses will be slaves to the elite even if the minimum wage becomes $100/hr. People have plenty of money, but we have to pay investors for our existence.
#SingleTax
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