Fiat currency created at the stroke on a keyboard. Funny money. Spend while we can until we transition to gold standard. What to do it debt at the transition? You forgive the debt and move forward with the Gold standard. Look who The Fed reports to now.
You can’t stimulate an economy you have locked up in chains.
An analogy I used to explain the concept to my economics students was to imagine a swimming pool filled with money. Government spending was to syphon money from the deep end of the pool and put it into the shallow end in hopes of making the pool deeper.
The Laffer curve works, but only in a world where there is sanity about spending.
"Article I, Section 8, Clause 5 (1.8.5): To coin Money, regulate the Value thereof [emphasis added], and of foreign Coin, and fix the Standard of Weights and Measures;"
“Congress is not empowered to tax for those purposes which are within the exclusive province of the States.” Justice John Marshall, Gibbons v. Ogden, 1824.
In other words, not only is the country badly in debt, but most of the debt is based on unconstitutional federal taxes, such taxes arguably stolen state revenues, that the corrupt, post-17th Amendment ratification Congress cannot justify under its constitutional, Article I, Section 8-limited powers.
Consider that before Pres. Woodrow Wilson unthinkingly signed the constitutionally indefensible (imo) Federal Reserve into law that ordinary legal voters had the power to indirectly regulate the value of money.
After all, ordinary qualified citizen voters have always had the power to kick bad-apple House members out of office, all lawmakers having the 1.8.5 power (above) to regulate the value of money, regardless that lawmakers are now evidently being institutionally indoctrinated to not accept responsibility for that power.
So the establishment of the Federal Reserve, done by "pen and phone” (corruption) imo instead of appropriately amending the Constitution, also scandalously weakened the constitutionally enumerated voting power of ordinary legal voters imo, by wrongly protecting career lawmakers from the wrath of the voters.
What a mess!
Corrections, insights welcome.
Send "Orange Man Bad" federal and state government desperate Democrats and RINOs home in November!
Supporting PDJT with a new patriot Congress and state government leaders that will promise to fully support his already excellent work for MAGA and stopping SARS-CoV-2 will effectively give fast-working Trump a "third term" in office imo.
"The “Holy Grail” of organized crime is to party with Uncle Sam's "unlimited credit card."" —me
"The power to tax involves the power to destroy, [...]” —Chief Justice John Marshall, McCulloch v. Maryland, 1819.
"The 16th Amendment effectively repealed the involuntary servitude aspect of the 13th Amendment imo, evidenced by unconstitutional federal taxes." —me
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States." —Justice John Marshall, Gibbons v. Ogden, 1824.
"13th Amendment, Section 1:
Neither slavery nor involuntary servitude [emphasis added], except as a punishment for crime whereof the party shall have been duly convicted, shall exist within the United States, or any place subject to their jurisdiction."
"16th Amendment:
The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration."
"It’s politically correct, under the Democratic Party and its tyrant judges, to use your voting power to make your fellow citizens involuntary servants." —me
"The Democratic elite define a "pro-choice" democracy as being able to vote for your preferred master." —me
"The ill-conceived 17th Amendment not only effectively politically repealed the 3/4 state supermajority requirement of the Constitution’s Article V for ratification of proposed amendments to the Constitution imo, politically correct interpretations of the Constitution now prevailing under Democratic judicial tyranny, but also consider this. That amendment also effectively nullified Congress’s constitutional Article I, Section 8-limited powers along with the Supreme Court’s clarification of Congress’s limited power to appropriate taxes." —me
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States.” —Justice John Marshall, Gibbons v. Ogden, 1824.
"The constitutionally undefined political parties are basically rival, corrupt voter unions, “union dues” paid by means of unconstitutional federal taxes. Belonging to a political party means that you are a subject, not a member.” —me
"Patriots need to support PDJT in demanding that Congress moves "April 15" tax day to the day before election day." —me
"The smart crooks long ago figured out that getting themselves elected to federal office to make unconstitutional tax laws to fill their pockets is a much easier way to make a living than robbing banks." —me
"Federal career lawmakers probably laugh all the way to the bank to deposit bribes for putting loopholes for the rich and corporations in tax appropriations laws, Congress actually not having the express constitutional authority to make most appropriations laws where domestic policy is concerned. Such laws are based on stolen state powers and uniquely associated stolen state revenues." —me