Author Topic: Money is not real!! It's not real so you're harming no one by wiping debt!! /DU  (Read 246 times)

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Offline Texacon

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Recursion (53,297 posts)


It's important to remember that student loan money didn't "come from" anywhere

 
Here's the fun bit about fractional reserve banking. It's not like It's a Wonderful Life, where George Bailey takes people's deposits and prudently lends them out. That's how a Thrift or a Savings and Loan work. That's not how a bank works. When a bank originates a loan, it literally creates the money out of nothing, and then destroys the principal payments as they are received, keeping the interest. There's no account somewhere that your student loan was subtracted from when the check was cut; that was literally money out of thin air.

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Thomas Hurt (3,347 posts)

1. Taxes have the same vaporous nature...

The right in particular loves to whine about how their taxes are going to this or that thing that mightily offends their fascist sensibilities but that is pure bee ess.

If you don't like where "your" taxes are going. Just think of your taxes going to something you do agree with, that is equally as true.

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Star Member Recursion (53,297 posts)

3. Right: the US government can never "need" a dollar

Looking at taxation as "funding government spending" is completely missing how money actually works.


Hmmmm ... why doesn't Skimmer give everyone stars?  I guess he hasn't learned what his subscribers know, that money isn't real.


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Hoyt (38,250 posts)

10. In the end, the feds back most of that money the bank creates, including most student loans.

Wiping them out might be a good thing, but someone will pay.

I think Warren's proposal is a wealth tax of 2% or so annually. That's cool, except that wealth tax, and similar taxes, have been promoted to pay for healthcare, jobs, bolster Social Security, education, climate change, deficit reduction, debt reduction, infrastructure, and a bunch more. Sooner, rather than later, the taxes needed to do all this stuff are going to reach all of us.


Some times Hoyt sounds more like one of us.  Not often, but it does come through at times.


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Turin_C3PO (1,716 posts)

12. Yes.

We can’t keep promising middle class tax cuts. The truth is, we need to RAISE taxes on most people to pay for these good programs that are being proposed.


So, Turin ... who gets to decide what a GOOD program is and what it looks like?  Hmmmm, how about you get the taxes then Conservatives get to decide what it gets spent on? 

They're just trying to convince everyone that money means nothing so Warren and Sanders don't look so f'n crazy.

KC
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Offline Ralph Wiggum

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A line as ridiculous as that sounds like it emerged from AoC's bunghole.
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Offline jukin

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Yes but the work behind money is real.

Oh and banks don't make loans anymore. Obunghole, the Greatest Shit Midas of all time made it entirely a government run crime.
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Offline SSG Snuggle Bunny

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Offline USA4ME

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Quote from:
Recursion

3. Right: the US government can never "need" a dollar

Looking at taxation as "funding government spending" is completely missing how money actually works.

If that's the case, then the liberal "so-and-so needs to pay their fair share" mantra is a sham. The primitive Recursion needs to remind his fellow kooks of this when they bring it up.

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Offline DUmpsterDiver

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>Recursion (53,297 posts)

while ( recursion(stupid) )
  {
  fprintf(stderr, " I am a moron\n");
  }

Just another freeloading retard on the left.

Offline Old n Grumpy

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There's no account somewhere that your student loan was subtracted from when the check was cut; that was literally money out of thin air.

Right, so the universities shouldn't mind the goobermint charging back the payments. :-)
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Offline SVPete

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So DUmmie Recursion won't care if somebody gets his/her SS#, sets up a bogus account, gets payments, and the IRS comes after DUmmie Recursion? DUmmie Recursion will just pay the back taxes? Because DUmmie Recursion's money isn't real?
« Last Edit: July 04, 2019, 08:09:36 PM by SVPete »
Facts don't matter to DUpipo

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Offline Texacon

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So DUmmie Recursion won't care if somebody gets his/her SS# sets up a bogus account, gets payments, and the IRS comes after DUmmie Recursion? DUmmie Recursion will just pay the back taxes? Because DUmmie Recursion's money isn't real?


He started another thread about how money isn’t real. I haven’t had time to bring it over yet.

KC
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*Stolen

Offline FlaGator

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I would suggest that Mr. Recursion take any money that he may have and throw all of it into a homeless camp. He'll then find out just how real it is.
Man’s greatness is so obvious that it can even be deduced from his wretchedness, for what is nature in animals we call wretchedness in man, thus recognizing that, if his nature is today like that of the animals, he must have fallen from some better state which was once his own.
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Offline Texacon

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I would suggest that Mr. Recursion take any money that he may have and throw all of it into a homeless camp. He'll then find out just how real it is.


^5!

KC
  Build a man a fire and he'll be warm for a day.  Set a man on fire and he will be warm for the rest of his life.

*Stolen