Are we keynesians or would we prefer to be serfs? It’s an election year, so we get to weigh on this and other questions. I really think we need to be thinking about creative economics. Market-based economics that are sustainable, that create useful commons instead of quarterly profits, dividends and obscene bonuses. We all get to decide how to make that happen.
As for me, I will be voting for posterity economics. Raise taxes and reinstate the steeply progressive tax rates that discourage bald-faced greed and encourage investment in useful infrastructure. You will hear that taxing the rich won’t raise the funds that we need, that we will have to tax the middle class. That is a calculated threat by the rich to discourage taxing the rich. And besides, look at the demographics, where is this vaunted middle class?
A couple of stories from the Washington Post this morning caught my attention:
The Mittster is chillin’ in Israel for a few days after his tour of the London Olympics where he wowed them. well, maybe not. but anyway, he’s out to Israel now. Checking the real estate in Jerusalem. Making contacts with car elevator contractors in case he decides to build a get away place in the Other Holy Land (not salt lake).
Mittster did have kind words for the Israeli health care system. Unfortunately that health care system is exactly the kind of big government interference that the right wing is certain will destroy the soul of a great nation. Here is a piece of the WAPO article on that:
Romney praises health care in Israel, where research says strong government influence has driven down costs
As fiscal cliff looms, debate over pre-Election Day layoff notices heats up
By Zachary A. Goldfarb, Published: July 30
The deep federal spending cuts scheduled to take effect at the start of next year may trigger dismissal notices for tens of thousands of employees of government contractors, companies and analysts say, and the warnings may start going out at a particularly sensitive time:
Days before the presidential election.
I hope that the Dems find a semblance of spinal material and will hold certain feet to the fire. Imagine a budget cut so severe, so fair that it would even cut into defense jobs. Well, try to imagine that. What are the chances?
Each moment we are faced again with the choice of austerity politics or posterity politics. Think on.