We must break out of our current understanding of taxing to spend that limits our ability to spend, when the only real limits we have are our real capacity limits. The issue isn't lack of money. It's what to do in addition to spending to manage inflation.

vocal.media/theSwamp/why-w… Image
We are watching what happens in real-time of this belief that we can't somehow afford $3.5 trillion in spending, despite being our own currency issuer. Means-tested stuff gets more means-tested. Stuff gets axed. Other stuff expires faster. It's the wrong discussion to be having.
We shouldn't be arguing over what to save and what to cut and what to trim. The debate should be on how to best design the programs, and then how to best manage the impacts of that spending on the economy. What kind and amount of taxes? How to best improve supply chain issues?
If enough people read @StephanieKelton's The Deficit Myth, especially people in Congress, we wouldn't be where we are right now, debating over how best to carve up the carcass of a bill, and what meat should stay on the bones. We'd be managing abundance.

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More from @scottsantens

11 Oct
67% of over 1,000 Americans surveyed in new poll support #UBI. Support was strongest among Democrats (82%), Gen Z (79%), Finance and Insurance (71%), non-college grads (71%), and those earning under $25,000 (77%).

skynova.com/blog/what-woul… Image
The top benefit of UBI according to those surveyed was that it would decrease both poverty and inequality, and help those with poor health and disabilities.

The top concerns were that it would reduce the incentive to work and increase the national debt by costing too much. Image
When asked how people would use their UBI, most people said they'd save it for retirement, or save it for emergencies, or buy groceries, or pay off debt.

GenZ with the strongest support for UBI is the most likely to pay off student loan debt with it.

13% would buy a house. 🏡 Image
Read 5 tweets
9 Oct
We just ran a huge unemployment experiment. Half the states reduced UI, it didn't increase employment compared to the states that kept UI. Then the UI expired and it didn't increase employment. Obviously UI isn't the issue but they REALLY want to force people to accept low wages.
These people want so badly to exploit others for their own benefit, that they don't seem to see that they're making things worse for themselves too. You can't cut incomes in a consumer economy and expect employment to rocket up. Consumer spending is what fuels our economy.
If we want to increase employment, we need to realize a pandemic still exists, and that's the main issue to tackle. We also need to make sure everyone has money to spend, and that they can afford things like child care to make employment make sense.

We should also automate more.
Read 6 tweets
13 Sep
I've never spent longer writing anything than I have writing this article. I'm excited today to finally present to you my explanation of why we need Modern Monetary Theory (#MMT) and why it needs Universal Basic Income (#UBI).


#longreads @StephanieKelton Image
Targeting does nothing but create unnecessary bureaucracy, stigma, and holes for people in need to fall through. Pay 'em all and let taxes sort 'em out. Utilizing taxation instead of means-testing as a tool to shape policy leads to better outcomes with fewer errors of exclusion. Image
When it comes to federal policies, going from "can we pay for it?" to "can we resource it?" is the mindset shift needed to achieve a human-centered eco-friendly resource-based economy built with a mindset of abundance on a foundation of human rights.

vocal.media/theSwamp/why-w… #MMT Image
Read 4 tweets
7 Sep
I'm very proud to announce the launch of something I took part in over the course of 2020 and early 2021 where a vision document was collaboratively crafted as a North Star of principles, rights, and institutions to help guide the direction of the future.

Notice how we believe the future needs to recognize and uphold the INTRINSIC WORTH of every person and community. That's the North Star we should shoot for, where everyone is equally worthy of existing and everyone is provided with the means of participating in their communities.
"In our imagined future a generation from now, we have evolved from a society where we see our own and others’ dignity and potential as contingent on our job, income, wealth, and identity, to one where we respect our own and each other’s intrinsic dignity."
Read 8 tweets
31 Aug
Here's the fun bureaucracy I've experienced so far as an Ida evacuee:

1. Denied by FEMA for unknown reasons.

2. Denied coverage by my insurance because my evac from New Orleans wasn't officially mandatory.

3. Told that my insurance denial can be used to appeal FEMA's denial.
Anti-govt libertarians and conservatives love insurance as the solution to government safety nets, but in my experience, they never pay out. They always find an excuse. In this case, their excuse is that even though my city doesn't want me to return yet, it didn't mandate evac.
My insurance policy is supposed to provide $2,000 to help with hotel fees in this situation, but their legal loophole is that leaving was voluntary, but the thing is, mandatory evac wasn't an option, it was too late, so they just urged us all to leave.

Read 8 tweets
31 Aug
We tend to only focus on the things that go wrong and not notice the things that go right. The levees held in New Orleans against a Cat 4 monster. For that I am thankful, because things could be much worse, but aren't because of that vital infrastructure investment that was made.
With that said, there is absolutely blame to be put on @EntergyNOLA for not investing in infrastructure improvements and instead building an emergency power station that was apparently a complete fucking waste of money for Entergy customers but not the pockets that got lined.
This company could've invested more in underground lines and in strengthening the 8 of 8 main towers that experienced catastrophic failure. But nope. Instead they focused on a new plant for emergencies that did nothing in an emergency. Why? Shareholders.

Read 5 tweets

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