Thread by @netbacker

Here is a thread about understanding GDP, Federal Spending, purpose of Federal taxes, Influence of Rich and wealthy on public policies, and Ignorance of the voters.

1/15: GDP measures the economy and spending; it's not rocket science, but politicians, media, and economists often pretend not to understand it to avoid government spending growth.

2/15: Federal Spending is necessary for economic growth; when it doesn't grow, recessions and depressions occur, even if non-federal spending grows. The economy needs government spending to grow.

3/15: The notion of federal spending being "unsustainable" is misleading; the federal government, as a Monetarily Sovereign entity, cannot run short of U.S. dollars and can pay any bill by pressing computer keys and have the commercial banks credit the payee's bank accounts.

4/15: The rich bribe politicians, media, and economists to promote reducing federal spending, widening the income/wealth/power gap, and preserving benefits for themselves while cutting benefits for others.

5/15: The Gap Psychology drives the rich to distance themselves from those below and come closer to those above on the income/wealth/power scale, leading to their opposition to policies that narrow the gap.

6/15: False comparisons between personal financing and federal government financing are used to make people believe the government can't afford benefits, despite its infinite ability to spend and sustain deficits.

7/15: The parallel paths of federal spending and GDP demonstrate their integral relationship; cutting federal spending means cutting economic growth, which contradicts claims that it is unsustainable.

8/15: The rich exploit tax loopholes, pay lower rates than average individuals, and perpetuate myths about IRS investigations to discourage higher taxes on the wealthy.

9/15: The rich influence information sources to indoctrinate the belief that federal spending should be cut and taxes increased, except for benefits that benefit them, contributing to widespread ignorance.

10/15: Federal taxes serve purposes like controlling the economy, ensuring demand for the U.S. dollar, and widening the income/wealth/power gap through tax loopholes for the rich.

11/15: The debt limit struggle is a charade where Republicans demand benefit cuts, and Democrats weakly oppose some cuts, while the truth about federal deficit spending is obscured.

12/15: We must recognize the lies and demand better; federal deficit spending is not unsustainable and doesn't cause inflation, and the government can provide comprehensive benefits while funding various sectors.

13/15: The rich's influence through bribery hampers progress, preventing government from fulfilling its intended purpose and widening the gap between the rich and the rest of society.

14/15: Let's challenge the misconceptions, educate ourselves, and stand against the influence of the rich, ensuring a more equitable society where government spending benefits all.

15/15: It's time to break free from the indoctrination & work together to create a government that serves the interests of the people, not just the wealthy few

#GDP #FederalSpending #RichInfluence #GapPsychology #TaxLoopholes #DebtLimit #Ignorance #DemandBetter #EquitableSociety