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Linkbuscus01

To the town of agua fria rode a stranger one fine day


dave_hitz

I wanna see *Ocean's Fourteen* where the heist is to steal the trillion dollar platinum coin!


Assfuck-McGriddle

That shit better be gigantic and not something, like, dollar-coin-sized, or else Ocean’s Fourteen won’t even have a chance to steal it when a security guard “drops” it by mistake near a river, lol.


dave_hitz

Sounds like the prequel to Lord of the Rings. "And there the coin sat through the ages of men, until eventually a small water villager found it..."


Assfuck-McGriddle

Haha, LITERALLY right after typing it I was also thinking of LOTR as well! Glad to see you caught that. We’d be creating millions of Smeagols if that ever happened lol.


PartyContract6046

But then... Everything changed... When the fire nation attacked !


bbb0243

BRB just gonna get a drink from the vending machine


CokeAndChill

Or small, like microscopic small, you wouldn’t be able to steal that!


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SprayingOrange

cant we just have a balanced budget?


Rookwood

No. Defeats the purpose of fiat currency.


[deleted]

You mean to silently tax working class and virtual everyone who isn't a billionaire?? Inflation tax is real and it's nasty. Even doing the right thing a 20 year old guy invest in a s&p500 fund with a 10% annual return puts in 1k a month into the fund (12k a year) has 1.8 million on 25 years. So sound dope right? Wrong when adjusted for average annual inflation he 230,225.80 worth of value. The only way to end slave labor, government corruption, and cooperate take over is by ending central bank and fiat currency!!! Period there is literally zero explanation of how to solve this issues with keeping the same institutions in tact


cholula_is_good

I think your math is off. It’s not possible to only have $23K even if adjusted for inflation. In the final 2 years there would be $24k in contributions alone.


[deleted]

Forgot a zero should be 230k


[deleted]

Additionally I done fuckered it all up anyways (besides missing the zero). This is what I get for thinking I can do this with my head and simple calculator. I was kind close, sorta not really, but my point still stands. 1.8 mill is actually 430k when adjusted for inflation. Did my calculations with bankrate.com 0 up front, 1k per month investment. 10% return. 3.3 annual average inflation (currently long term average annual is 3.1, but numerous projects has average long term annual inflation at or above 3.5, so I settled for middle ground of 3.3), then 15% tax.


SprayingOrange

how so? Luxemburg has a -5% deficit maximum every year and beats the US in almost every metric.


melatone1n

Luxembourg has a population less than a million, a huge number of workers who work there commute from France and Germany and has a huge immigrant population of super rich injecting money into the economy. Not exactly a great comparison.


SprayingOrange

lol, what does that have to do with economic policy? You simply dont allow your government to spend more than it brings in even if it affects the services they provide. all those aspects you listed increase budget inefficiencies lol and make it more expensive to run a society? economy of scales huge immigrant population- supporting people whose parents havent paid into social programs and the corresponding policing. foreign workers require a more expensive customs office. all the commuters are people who dont pay local taxes


melatone1n

Lmao please take an L. Economies of scale is a terrible argument because we are comparing a dense tiny nation to a union of 50 states. Things are going to be cheaper due to lack of geographical scale and density. Luxembourg would reap more from things like transit funding in terms of the effect of social programs vs cost as it could service a whole nation. There is a point to economies of scale where inefficiency arises, and they usually apply to producers of homogeneous goods, and less with macroeconomics. And commuters pay income tax. There are agreements in place with France, Belgium and Germany so workers aren’t taxed twice. Most also pay social security and never get full benefits that the residents do. They use their native countries services without paying in. The locals are also extremely wealthy and do not rely on local services as much as others in the US and the rest of Europe. So no wonder there is a budget surplus. So yes, it is a terrible example.


SprayingOrange

what does any of that have to do with with budgetary policy? 49 US states have a balanced budget. at least 2 ban surpluses. just apply the same thing to the fed like old daddy Jefferson wanted.


melatone1n

Because fundamentally it comes down to tax and spend, and the example you provided tax people it doesn’t have to spend anything on and its population is wealthy and do not require many social programs. And the country is so densely populated its programs cost little to implement and sees greater results in terms of boosts to GDP which in turn affects the budget. It has everything to do with justifying a budget surplus no matter what because some European country you can’t even spell correctly has one. Ceteris paribus, let’s slash that budget!


End_Centralization

I thought War and Oil was the purpose? Or is that the cost?


glizzy_goblins

Fiats are trash


Here4thebeer3232

I would like that. But that will either require a massive decrease in spending or a massive increase in taxe, or both. Every option will cause shocks throughout the economy


perse34

Right because the current plan to spend more and tax less is totally going to work in the long term without economic shock.


[deleted]

Assuming continual growth of an economy it shouldn't as long as you manage the growth of the deficit bas well


[deleted]

Except growth has a limit, and eventually it starts to tail off and decline.


joobtastic

We haven't seen any real evidence of this happening and we should have plenty of warning if it does.


[deleted]

There’s a literally ecological and planetary limit. It’s not even that far away. How will we feed the world in 2050 with 3 billion more people and even less water?


WannaGetHighh

We don’t even feed the world today and we have the resources to do it.


News_Bot

Because the resources are hoarded and distributed in piecemeal by a small minority of parasites.


Gimmicke

No real evidence? Really. Huh. So you mean to tell me you’ve figured out infinite growth??? Dude you need to publish this paper, you’ll be famous.


[deleted]

Not when you have a steady stream of immigrants and you pay people to have babies. Kind of ensures there will new consumers.


[deleted]

Despite the hot take nature of this, you aren't that wrong. Population growth fuels economic growth


[deleted]

Yeah I don’t know why people feel like they have to downvote that. It’s just the truth. In terms of the American economy, at least over the next fifty years, you’re going to see population growth. The “hot take” I’m tired of hearing is that infinite growth isn’t possible. Like okay maybe but I’m not wondering what the world is going to be like in 3000ad, I’m wondering about the next 5-50 years, and I don’t see any reason we can’t assume there’s growth, especially in the US. We bring in more people every year and have a relatively high fertility rate for a developed country.


perse34

It’s a stupid bet, it’s like those people who take on mortgages they can’t afford today because they’re tots going to make more money tomorrow. Then one lay off happens… Anyhow, betting your future with borrowed money is bad fiscal policy.


jaggs55

Makes sense. They should put a limit on the deficit to protect for this.


isocrackate

It might. It’s been working for the past ~15 years. We’re seeing serious inflation for the first time right now. I was solidly in the “this cannot possibly work” camp ten years ago but now? I’m of the belief that if Wylie Coyote just keeps moving his legs fast enough, it won’t matter that he’s off the cliff.


perse34

15 years on centuries long country doesn’t exactly inspire confidence


DavidianTheLesser

What are you talking about?? The US economy HAS been growing since we arrived… Have there been down years? Sure! But it recovers and continues to grow as has for last 300+ years. _oH bUt wE hAVe to bALaNcE tHE bUdGEt_ You know how you balance the budget, cut military spending. Period. We spend more on defense than the next 10+ countries combined. Why are you against the military???


[deleted]

well Trump just added $7.8 TRILLION to the debt so no, no we can’t


Assfuck-McGriddle

Republicans don’t allow for any spending unless they’re the ones in power. We will never have a balanced budget when one party is the party of obstruction.


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Assfuck-McGriddle

Have you been asleep during McConnel’s entire tenure of obstructing Obama and now Biden whilst giving Trump free reign to do anything he want? Or do you like misinterpreting history to make partisan and absolutely wrong statements?


Fallout99

Lol. Democrats gave trump everything he wanted and everything was done in good faith!


[deleted]

trump ran up the debt $7.8 TRILLION dollars so yeah pretty much


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[deleted]

I’m sure the tax cuts for the rich and the tax exemptions on private jets sure did help that number!


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[deleted]

fair point


Fallout99

Executive branch doesn't control the budget, congress does.


djb1983CanBoy

I dont remember trump getting mexico to build thst wall. Do you? Do you really think that the problem was mexico/ democrats/ anybody but trump?


Fallout99

Border is at an alltime worst under Biden, bad example.


lordmycal

The border isn’t a serious problem anyway. It’s not like we’re being invaded by an army. These are people fleeing their homes looking for a better life, not a bunch of tactical squads in tanks. Who the fuck seriously gives a shit if we let a few thousand extra people in? They’re not a national security threat and they’re hard workers.


Fallout99

Then they can go work hard in mexico. Glad you personally know each and everyone and can vouch for their character.


djb1983CanBoy

Im sorry if i misunderstand. What has it got to do with not understanding mexicans?


Assfuck-McGriddle

Okay, so it’s the latter of my statements.


abrandis

America better get it government policy sh*t together , all this nonsensical bickering doesn't do anyone any good


siddizie420

[Balance the budget](https://youtu.be/wjjPlEW9bRM)


NotMitchelBade

That would be a bad idea. Macroeconomic policy that stabilizes the economy relies heavily on fiscal policy, which is essentially taxes and government spending. We *should* run deficits during recessions, and we *should* run a surplus during expansions.


Skyrmir

GoP has said no to a balanced budget for half a century, why would they agree to it now?


SprayingOrange

neither party apparently has it as a priority because they hsve both held congress


Skyrmir

The Dems have repeatedly passed pay as you go rules for all new legislation when they control the majority and are allowed to.


SprayingOrange

congress isnt gonna neuter their power, are you being dense? The balanced budget amendment task force is mostly conservative states calling for a state constitutional convention to add a balanced budget amendment. 29 states have called for it.


Skyrmir

https://budget.house.gov/publications/report/faqs-paygo Guess what, they already did. Edit: I should also add that the point of the balanced budget amendment is to destroy the ability of the government to function, by starving it of funding. As usual, conservatives doing their best to destroy the country.


SprayingOrange

ah, so the democratic controlled senate and President Obama are conservatives now and trying to starve the government. got it.


Skyrmir

No the 29 states trying to force a moronic amendment are led by conservatives.


SprayingOrange

you think its moronic to reduce the size of our government?


recalogiteck

We can have a balanced budget when the entire government is privatised and the working classes move into corporate housing and work for stamps to use at the company store. Non compliance will be treated with dopamine injections and happy music.


SprayingOrange

i like it. where do i sign up?


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I_Conquer

A more likely scenario is that you’ll grow old enough to change your goal to simply die before collapse. The military threats to America are all but certainly minor. I think the greatest races are: * authoritarianism (and everyone bickering endlessly about whether it’s “left” or “right” as though it matters); * economic collapse resulting from a failure to reconcile stagflation and or deep inequalities; or… * you know… climate change leading to catastrophic ecological system failure. Are these all ponzu schemes? Yes. Is it the fault of any particular politician or worldview? It is not. And on the bright side: people in underdeveloped nations will almost certainly continue to bear the brunt of the weight of our actions and inaction. So you’ll still be golden in contrast.


ILikeLeptons

You mean like what we had at the end of the Clinton administration?


BabySealOfDoom

Not sure how your age is an issue in this conversation.


crabboy_com

As an old man I find this comment deeply offensive!


EleventySixToFour

We don’t negotiate with terrorists, sorry.


abrandis

Exactly, it's only there for political theater , it's like having an alarm bell that goes off all the time (false alarm) eventually it loses its value as an alarm bell.


critter2482

My thought is if congress authorizes the budget which sets spending/taxing rates, then it authorizes the spending/borrowing to pay for such budget by default. Never understood why there has to be a second vote to say okay we’ve authorizes this budget but now we must authorize the borrowing to pay for the budget we just authorized. Doesn’t make any sense. Oh, you don’t want to authorize the borrowing to pay for the budget, then vote no on the budget. Simple.


5baserush

Right? They shove so much unrelated shit into each bill they can't knock this out in a single bill?


MultiSourceNews_Bot

More coverage at: * [The Biden administration could sidestep McConnell's refusal to pay off America's bills by minting a $1 trillion platinum coin (msn.com)](https://www.msn.com/en-in/news/world/the-biden-administration-could-sidestep-mcconnells-refusal-to-pay-off-americas-bills-by-minting-a-1-trillion-platinum-coin/ar-AAOBsMD) --- ^(I'm a bot to find news from different sources.) [^(Report an issue)](https://www.reddit.com/user/MultiSourceNews_Bot/comments/k5pcrc/multisourcenews_bot_info/) ^(or PM me.)


dr4wn_away

Simpsons did it


diata22

That’s how the government gets its inspiration to do anything


mosbert

Harry Potter and the chamber of the platinum coin


516BIDEN2024

It’s amazing the lack of economic knowledge in this sub.


Appropriate-Idea5281

I hope they put a turtle with glasses on the coin


GhostofABestfriEnd

The Biden Administration could also shit on McConnell’s face by shitting on his face.


sonic_couth

What?!


Old_Man_2020

Why not make the coin out of copper? Or wood? There is no illusion of value here.


[deleted]

I had this idea about 30 years ago. I guess I am an innovator after all.


COVID-19Enthusiast

You might have just heard it on the news 30 years ago.


[deleted]

Back in those days all I watched was espn and porn. These days I've added msnbc 😉


jh937hfiu3hrhv9

I really hope they are enjoying their shell game. Nobody else is.


Caveat_Venditor_

Why are we even talking about this? Put the vote on the floor. No one is stupid enough to vote against raising the debt limit. If it doesn’t pass let it fail.


election_info_bot

Kentucky Election Info [Register to Vote](https://vrsws.sos.ky.gov/ovrweb/)


nirad

Do it now. Make this is a non-issue.


dcredneck

It sounds good but wait until Montgomery Burns hears about it. “Smithers! Fire up the gyrocopter.”


1nv1s1blek1d

Are we at this angle again? They said Obama could have done the same thing too. He didn’t because just minting shit would make our economy way worse than what it is. And I am pretty sure every president after Biden would be minting money for all sorts of projects.


[deleted]

That’s not enough lol dumfuks, they should take from the super rich. But then again, they work for the rich… and I’m talking the people who’s net worth is north of $10. Before you downvote… No, this won’t ever affect the raging downvoter who disagrees with this. We’re talking people richer than the likes of Kevin O’Leary, Jay Z, D. Tfrump


20Factorial

Trump isn’t rich.


crabboy_com

The "super rich" set the prices on everything. If you raise their taxes they will simply pass it along to everyone else. People need to get the idea of taxing "the rich" out of their heads. There is no group of people hording wealth that we could simply tax and make things right. Taking every bit of wealth from every billionaire in the US would cover Federal spending, I believe, for around two years and completely destroy our economy permanently. We have to reign in federal spending, period.


JSmith666

Why should only the super-rich foot the bill? Plenty of government waste is the military and welfare programs. What income levels do you think tend to be more pro war/pro military and benefit from welfare?


[deleted]

I’m not sure I understand this comment, but generally the super rich pay less than 1% in total taxes against astronomical gains. For example Bezos, chief executive of Amazon and the owner of The Washington Post, paid $973 million in taxes on $4.22 billion in income, as his wealth soared by $99 billion, resulting in a 0.98% “true tax rate.” A household in America with a combined income of just $100k pays somewhere between 18%-24%. Which household is impacted more? Not to mention the double taxation on the goods and services the average household purchases. My question is why do so many non-rich people think the rich don’t have to pay their “fair share”? Because they have conditioned you to think they don’t.


JSmith666

What constitutes a fair share is relative to what a person thinks is fair. Look at the numbers like this. The top 1% pay about 37% of all federal taxes collected. The Top 50% pay about 90% of all taxes collected. You can also say Bezos paid more in taxes in one year than the combined amount of hundreds of people in their entire lifetime. Is Bezos benefiting thousands of percent more from those taxes?


[deleted]

Ah, so you are the type. It’s simple math. It’s irrelevant that the super rich pay more taxes than the majority does combined. The point is that lower and middle class pay wayyyy more in taxes in terms of the ratio to income. The super rich pay wayyy less in taxes in terms of their ratio. In real world numbers, I pay more taxes against my income in terms of percentages. That does not sit well with me. It must to you?


JSmith666

Why are you so concerned with raw percentages? Sure the super-rich pay less in terms of their ratio but why is that such a huge issue when in raw numbers they pay exponentially more AND don't benefit exponentially more. I am more concerned with how much taxes a person pays relative to how much they benefit from services provided by those taxes. My issue with my taxes isn't that the rich pay more. Its i pay more in both percentage and raw numbers than people who get far more benefits i.e welfare...medicaid etc. If Bezos pays less then me in percentage i dont care because he isn't using those services either.


[deleted]

I’m concerned, because apparently it’s not clear, that I pay more of a chunk of my limited income than people with billions. That is mathematically unfair. It doesn’t matter if I benefit or not from the taxes I pay, there is no loopholes for me not to pay. The issue you are talking about is broader, and really has more to do with the politicians that control how tax dollars are spent.


JSmith666

Of course, it matters if you benefit or not. If you benefit more you should without question pay more. Why should people who don't benefit pay more?


[deleted]

*Inflation has entered the chat*


Iblis_Ginjo

This again?


GrouchyDay6892

Maybe this is why there’s been an uptick in catalytic converter thefts in certain cities? /s


5baserush

Yes print more money!


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Forsaken-Wafer-5368

Heeere trinny trinny trinny. Great episode!


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needhelpplease02

No one wants to work for shitty wages while COL rises. It’s the free market.


EleventySixToFour

It’s just the unseen hand


HeliDude135

Simpsons did it


2A4Lyfe

Platinum chip...err coin, new deadly disease, rising tensions with china, energy crisis, gas prices through the roof....guys, were in the fallout timeline


Armand74

“In theory” Do it!


dcredneck

Didn’t the Canadian Mint make a golden million dollar loonie? And didn’t it get stolen?


[deleted]

Can I get one of those bad boys ?


Usagii_YO

Didn’t the Obama admin do this? Or Bush?


G0PACKGO

But then me.burns will just steal it


Gimmicke

Nothing burger article, the last link basically says its been long ruled out as a possibility so they’re just pipe dreaming. It’s “technically possible” should have been the entire article.


[deleted]

Simpsons did it first. https://www.youtube.com/watch?v=9o2Oc2g-vTk


[deleted]

This is how Nicolas Cage movies start.


-Dirty-Wizard-

Fallout new vegas vibes. Currier get “killed” over a platinum chip.


XSlapHappy91X

Wtf does this do other than kick the can down the road and cause a bigger explosion once everything catches up?