Beardsley Ruml, the guy that wrote ‘Taxes For Revenue Are Obsolete’ in 1946 which is quoted by every single ‘prescription’ MMT academic from Professor L. Randall Wray to Professor Bill Mitchell, also said this: “The corporation income tax must go, taxes on corporation profits have three principal consequences and all of them are bad.” As chairman of the Federal Reserve in New York, Mr. Ruml insisted that the case for ending the corporate tax was overwhelming. “It is evil…it should be abolished,” he said.
Which begs the question: Why don’t the same scholarly MMTers that love to quote Beardsley Ruml, ever give the current administration any credit for dropping the corporate tax rate to 21% from 35% which Beardsley Ruml would have approved of (?)
Why don’t MMTers that want a reduction of payroll taxes for the working class, ever give the current administration any credit for the Tax Cuts and Jobs Act that lowered individual income tax rates (?)
Why don’t MMTers that want to raise the standard deduction, ever give the current administration any credit for doubling the standard deduction to 24K for a household (?)
Why don’t MMTers that want to address wealth inequality, ever give the current administration any credit for pinching the rich with a 10K cap on State and Local Tax (SALT) deductions (?)
Why don’t MMTers that want the federal gov’t to deficit spend more, ever give the current administration any credit for substantially growing the deficits now projected to top $1 trillion by 2020 (?)
Why don’t MMTers that know that we won’t default because we can always print the money, ever give Trump credit for saying “We won’t default because we can always print the money” (?)
Why don’t MMTers that supposedly want to transition the unemployed into becoming employable, ever give the current administration credit for wanting a federal Jobs Training program (?) Why are MMTers saying that we should have a federal Job Guarantee (JG) program, right now, during The Longest Jobs Growth In US History? Why a JG instead of a Jobs Training program, like vocational school partnerships with businesses that President Trump promoted at a round-table discussion at the Boeing facility on 03/14/18 (which would have people acquire marketable skills, get them vocational certifications), to keep them independent in the private sector (and not to have them become more dependent on the public sector). Why are MMTers saying that we need the federal gov’t to spend $500B on a ‘job guarantee’ program to create Soviet-style, make-work jobs when we have labor shortages across the country? Cities are paying $10,000 for people to come work there, some cities are even offering to pay off your school loan to come work there, so to paraphrase the late Sam Kinison, the unemployed people don’t need a federally-funded Job Guarantee program, THEY NEED A BUS TICKET! They don’t need a $500 billion ‘job guarantee’, THEY JUST NEED SOME LUGGAGE! Why do these MMTers prefer that the unemployed become sharecroppers on their gov’t JG plantation instead of becoming shareholders in our capitalist system (?)
The answer is…because they’re #FAKEMMTERS (!)
Fake MMTers are promoting their political ideologies under the guise of promoting Pure MMT. As a result, FAKEMMTERS are only pandering to problems (pandering to their choirs) instead of actually solving problems (instead of actually helping them).