Posted on 04/28/2017 1:12:49 PM PDT by 2ndDivisionVet
Ro Khanna has a $1 trillion plan to fatten Americans’ wallets.
The newly elected member of Congress, who represents Silicon Valley, has become a loud progressive voice on the Hill during his brief tenure there. The way he sees it, Democrats have failed by not offering families a radical plan to end wage stagnation and bring prosperity to the middle class once again. He is working on a bill he believes will do just that, by boosting the Earned Income Tax Credit to provide as much as $6,000 a year for individuals and $12,000 for families. (That would roughly double the maximum payout for families, and increase it tenfold for childless workers.) The plan is being heralded as a move towards a universal basic income in the United States, and Khanna hopes to pair it with efforts to move federal jobs out of Washington, expand universities and colleges, and encourage investment in depressed communities. Such a moonshot effort is not going anywhere soon, he concedes. But it would at the very least demonstrate to voters that Democrats had something new and bold to offer them.
We spoke about what Obama did wrong, what Trump has done right, whether tech companies like Facebook should be broken up, whether deficits matter, and how to help coal miners in Kentucky, along with his tax proposal. The conversation has been edited for length and clarity....
(Excerpt) Read more at theatlantic.com ...
We are in serious trouble...
What is so new and bold about this? I have been hearing about this for years.
Just when you thought the left couldn’t get any screwier...
Spending more money we don't have is "new and bold"? Somebody could make a fortune selling clues to people like this. Even at $100 per vowel would be a good living. At least until the money runs out....
They mean a loudmouth.
The left’s war on the workers continues.
Good idea if you could only tax rich Democrats and rinos to pay f0or it.
I bust my but all year and pay thousands in taxes, while the do-littles get $10,000 in earned income credit. Their claim to riches, have babies you can not afford.
Exactly the opposite of how to Incease prosperity in society
From???
The fact that the vast majority of Americans just want a decent paying job and not a handout seems to escape them utterly.
Providing the macroeconomic conditions for that would require booting out illegal immigrants, ending H1B and other scam visa programs and tariffs on imports. Briefly put, restricting the labor supply but guaranteeing a market for American-made goods, while relying on internal competition and improvements in productivity to control costs.
Of course the wannabee aristocrats among the clerical class would have to give up their cheap nannies and landscapers and the rentier class would see a good portion of it's income redirected to workers.
You know, like that terrible economy we had in '50's and '60's.
It’s called “you pretend to work, and the Government pretends to pay you”
Sounds kind of Soviet, don’t you think?
If he wants to hit up his Silicon Valley buddies for a trillion dollars to give out, I have no problem with that. But no one should get one penny more than they pay in of US tax dollars for either refunds or EITC.
If the government gives someone $100 and takes back $90, you’re at a deficit of $10. But that is $10 in the economy. It’s $10 of productive economic activity. It’s not like that $10 just disappeared.
You're going to have to knock out a lot of teeth to get the tooth fairy to leave you that $10 under the pillow. Or else it will have to be printed which will give you inflation or borrowed which will squeeze out more productive borrowers. There is no free lunch.
We pay about $1,000 a month for a 3 bedroom, 2 bath home, so I doubt it’d cost that much in Kentucky.
Silicon Valley, where inventing a new app is seen as the way to change the world, and the most essential skill one must learn to succeed in that world is seen as computer programming - fantasy land for sure.....
Do you grasp the concept of supply and demand? What do you think will happen to the prices of goods and services if you give free money to everyone?
Asshat.
So get to writing your checks to pay for it. Just a warning tho, you’ll get yourself up sh*tcreek for writing bad checks in KY.
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