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Jeff Epstein 🌹🌎 Host of @ActivistMMT 🦉 Profile picture
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Mar 4, 2019 • 13 tweets • 6 min read
1/ The #MMT designed Federal Job Guarantee (FJG): scholarship by MMT economists and experts, and the scourge of unemployment.

[#LearnMMT, THREAD v.1]
2/ The FJG is a “transition job.” If you unexpectedly become unemployed, you can transition into the FJG with a dignified wage instead of splatting onto the ground at $0/hour – until private industry is ready to hire you back. #MMT founder @wbmosler:
2/ A good place to start: The FJG FAQ (frequently asked questions) by economist @ptcherneva. Tcherneva has been working on the Federal Job Guarantee for 20 years: pavlina-tcherneva.net/job-guarantee-… pavlina-tcherneva.net/job-guarantee-…
3/ Economist @ptcherneva’s main page on the Federal Job Guarantee, with links to much more information: pavlina-tcherneva.net/job-guarantee
4/ More scholarship on the Federal Job Guarantee can be found on this page. Search for the term "guarantee.” neweconomicperspectives.org/mmt-scholarship
5/ Why the FJG is so critical. The scourge of involuntary unemployment, by economist @ptcherneva:
6/ A children’s fable, and analogy of involuntary unemployment: 100 dogs and 94 bones. [it’s a thread, scroll down]
7/ As documented in this thread, involuntary unemployment is American economic policy:
8/8 To learn more about the #MMT designed Federal Job Guarantee, follow @FightForFJG and @GISP_Tweets.
9/ And for good measure:
10/ The Federal Job Guarantee is a core element of #MMT. It is not an optional add-on. Confirmation by the original MMT economists:

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More from @citizensmediatv

Jeff Epstein 🌹🌎 Host of @ActivistMMT 🦉 Profile picture
Feb 21, 2020
1/ Up until now, Bernie & Warren refused super PACs in the primary. Warren, however, openly stated she'd take it in the general – but not Bernie. Today's she changed her mind. She WILL take it in the primary because all the other candidates are doing it.
2/ This is based on the false notion that grassroots organizations such as @OurRevolution and @sunrisemvmt are super PACs. They're nothing of the sort. readsludge.com/2020/02/10/fac…
3/ It turns out that Warren's "new super PAC" has in fact been in the works since at least October 2019.
Read 25 tweets
Jeff Epstein 🌹🌎 Host of @ActivistMMT 🦉 Profile picture
Sep 2, 2019
Here is economist @SandyDarity’s thread criticizing @AndrewYang’s Freedom Dividend. The original thread was disconnected at multiple points so I’m reproducing it here in whole.

Read 10 tweets
Jeff Epstein 🌹🌎 Host of @ActivistMMT 🦉 Profile picture
Aug 31, 2019
1/ Federal taxation is the destruction of money. This is not an option or a choice, there is no other way for it to be. @StephanieKelton (then Bell) in her 1998 paper, "Can Taxes and Bonds Finance Government Spending?” (levyinstitute.org/pubs/wp244.pdf)

[#LearnMMT THREAD v.1]
@StephanieKelton 2/ Federal taxation is the destruction of money. This is not an option or a choice, there is no other way for it to be. Eric Tymoigne (@tymoignee) in his 2014 paper, "Interrelations between the Treasury and the Central Bank” (levyinstitute.org/pubs/wp_788.pdf)
@StephanieKelton @tymoignee 3/ As far as *how* federal taxes are destroyed... It’s no different than how the 100 is destroyed (or disappears or dies) when you minus it on a calculator. To the federal government, money is not real (as it is to me and you), it’s a concept.
Read 8 tweets
Jeff Epstein 🌹🌎 Host of @ActivistMMT 🦉 Profile picture
Aug 5, 2019
1/ To me, this is the core of the FJG v UBI debate 👇. (I expect this will change, but these are my thoughts after two absolutely massive debates with UBIers that I've had in the past weeks.)

[#LearnMMT thread v.2]
2/ A major objection UBIers have to the FJG is that in the hands of our corrupt government and their for-profit bribers, the FJG would be outright slave labor. Here is a leading UBI advocate, evoking the Nazi holocaust.
3/ If not slave labor, then indentured servitude. Here’s 2020 candidate Andrew Yang (at 12min, 45sec).

Rubin: “As a small gov’t advocate, the FJG sounds like indentured servitude."
Yang: [laughs] "Yeah, why don’t we just give everyone grey jumpsuits?"

Read 28 tweets
Jeff Epstein 🌹🌎 Host of @ActivistMMT 🦉 Profile picture
Aug 4, 2019
1/ To me, this is the core of the FJG v UBI debate 👇. (I expect this will change, but here are my thoughts after two absolutely massive debates with UBIers that I've had in the past weeks.)

[#LearnMMT thread v.1]
2/ A check will undoubtedly help millions. My concern, a primary concerne of government and SOCIETY, is the collective. UBI will harm the collective, which in turn will harm citizens, starting of course with the most vulnerable.
3/ Most UBI supporters don't understand the fallacy of composition. They're so passionate abt the check being good for THEM, they don't look deeper to see that scaling that program up for the entire economy is extremely detrimental. en.wikipedia.org/wiki/Fallacy_o…
Read 19 tweets
Jeff Epstein 🌹🌎 Host of @ActivistMMT 🦉 Profile picture
Jul 16, 2019
1/ @DougHenwood's [COUGH] critique of #MMT, and three responses by MMT economists and scholars.

[#LearnMMT THREAD]

Henwood's piece: jacobinmag.com/2019/02/modern…
2/ #MMT Economist @ptcherneva: "Henwood is tethered to the wealthy by an imaginary umbilical cord. Time to cut the cord. MMT has a profound emancipatory power. jacobinmag.com/2019/02/mmt-mo…
3/ #MMT scholars @videotroph, @nathanTankus, @RohanGrey, and @RaulACarrillo: "For Henwood, the left’s role is merely to argue extra hard for corporations and the wealthy to pay their 'fair share' of taxes." mronline.org/2019/05/02/mod…
Read 7 tweets

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