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135 - The Return of War Communism ft. Slavoj Žižek & Paul O'Connell (Patreon)

Published:
2020-04-14 22:33:13
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2026-06
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135 - The Return of War Communism ft. Slavoj Žižek & Paul O'Connell

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J P 3

I think the reality is that Obama probably will move the needle with some younger voters. But no question the failure to come to terms with his legacy is a huge impediment to any kind of progress. Obama and almost everyone around him cashed in and sold an entire generation of voters out.

Bijou Smith

1. "First black president" doesn't mean sh*t. Pure symbolism, void of substance. 2. Neolibs and their 'tax credits' huh? But UBI and social security payments and employee wages, all USD income is a tax credit. Functionally no difference. The difference is in discretionary impact. What the IRS tax credits are though is a way for neolibs to give people money without it being recorded as government deficit. It's balance sheet neutral, which is why the neolibs love it. It is money locked up for a single purpose which cannot be discretionarily spent. Pure neolib crap. If they cared about people, or even just cared about the health of the economy, they'd eliminate FICA tax and record a deficit and in addition spend more on public services (without any extra tax) and use a job guarantee as the inflation buffer to reach full employment, letting the fiscal deficit float to wherever it needs to be to sustain full employment. It'd all be money injected at the bottom, where it should be injected. General tax cuts usually do not work as well, they form a rising tide that lifts all Yachts, but not the small dinghys, it drowns the small boats. This is where you TMBS folks got the MMT episode you did all wrong. Taxes cannot be paid until the currency issuer first issues some currency (otherwise folks would be paying tax liabilities from bank loans). And so taxes do not fund the government, it's the other way around, government spending funds our ability to pay taxes. But the government never needs all it's issue back, what it leaves in the economy becomes private sector savings, which is a good thing. Taxes function as inflation offset and demand driver for the currency, not as a funding source. Bernie could have made a huge impact if he was honest about this and pointed out that Medicare for All is not tax funded. It's the other way around.