Economics


HAVE THE TAX CUTS TRICKLED DOWN TO YOU?

HAVE THE TAX CUTS TRICKLED DOWN TO YOU?By Jeanne LarsonIn December 2017, the Republican majority rushed tax-cut legislation through Congress before the Congressional Budget Office (CBO) analysis of the 505-page bill could be properly scrutinized.On April 9, 2018, reuters.com reported that the CBO estimates the immense tax cuts signed into law -- which Republicans said would pay for themselves -- will balloon the deficit for years to come. In just one year, 2017 to 2018, the deficit expands from $665 billion to $804 billion.On September 28, ...

Read More


THE UNIVERSAL ECONOMY UNIT XVIII: LESSONS FROM MONOPOLY

Most of us (especially elders like myself) have played the board game “Monopoly.” Interestingly, in spite of huge growth in electronic gaming, sales of “Monopoly” continue to do well. The face to face social interaction in board games is regaining its appeal. But the game of “Monopoly” also provides many lessons in understanding the current state of economic affairs. It is a microcosm of a macrocosm – specifically, macroeconomics.A quick review. . .The “Monopoly” board has various properties, utilities, railroads and other locations where players ...

Read More


RETIREMENT FOR ALL

For years polls have shown the general public to be more supportive of specific policy issues than the close partisan elections would indicate. People from across the political spectrum want action on affordable health care, adequate public school funding, and rebuilding our crumbling public infrastructure. This is a golden opportunity for Democrats to LEAD even if they control only one of the branches of government. A bold agenda that addresses people's real needs and concerns could turn the “blue wave” of 2018 into a tsunami in 2020. As this week's special legisl...

Read More


Don’t Celebrate – Organize

“If there is no struggle, there is no progress.” Frederick Douglass“Don't mourn – organize.” Joe Hill, labor activistWe, thankfully, don't have to mourn the last election. But the job is not done. Now is not the time to kick back and wait for the next election. This would be tempting and we all need a rest from politics. But, progressives must continue to oppose the destructive policies of Republicans and to push Democrats to do what is needed for people. Don't celebrate – organize.Democrats made some gains in the last election. Wisconsin elected a ...

Read More


SODDY, FULLER AND MODERN MONETARY THEORY

Portions of this article have been previously published in Middle Wisconsin but the concepts are hopefully useful in understanding current economic issues confronting America and the world.Born in the late 1800’s, Frederick Soddy and R. Buckminster Fuller led extraordinary lives. Soddy won the Nobel Prize in chemistry in 1921 and Fuller became known for his work in architecture, the geodesic dome and visionary thinking. Soddy was a British citizen, Fuller an American. Both were deeply rooted in science and the laws of physics, and both spent the latter half of their ...

Read More


WISCONSIN AND NICARAGUA ARE PARTNERS

Wisconsin and Nicaragua are partners. For fifty years, programs have provided assistance to people in Nicaragua of all ages. Programs help with natural resources and cultural diversity, with health and education.For fifty years, the Wisconsin/ Nicaragua partnership has shown that working together brings good results.Wisconsin and Nicaragua have commonalities:++Each approximately 57,000 square miles++Extensive stretches of coastline++Large inland lake++Valuable forest areas++Agricultural productionThe headquarters are in Nelson Hall of UWSP campus, Stevens ...

Read More


THE UNIVERSAL ECONOMY UNIT XVI: THE MISLEADING USE OF TRADITIONAL ACCOUNTING/ECONOMIC TERMINOLOGY

The U.S. Government never – ever – borrows money. The U.S. Government is never – ever – in debt.Ah, the heresy! How can one make such a ridiculous statement! Look at the National Debt Clock! It’s the end of the world! We’re mortgaging our great, great, great, great grandchildren into infinity! China will own us! It’s the end of the world!!!! Be afraid! Be very afraid! And on and on the insanity goes.But let us ask ourselves - - - since the U.S. Government is the Constitutionally authorized creator of the nation’s money, why on Earth would it ever ...

Read More


WHAT DOES FOXCONN MEAN TO ME?

“Hard to wrap my head around,” the woman shared as she considered Foxconn. Just what do big budget decisions mean to us?Work has begun on crafting the next state budget. Over the next few months, this work will continue in earnest. One hefty unbudgeted expense added to upcoming budget math is a large taxpayer funded payment to a foreign corporation.Foxconn is the Taiwanese company building a manufacturing plant in southeast Wisconsin. To lure the company to our state, majority lawmakers and the governor created the largest state corporate give-away in American ...

Read More


THE UNIVERSAL ECONOMY UNIT XV: THE CRITICAL NEED FOR WAGE EARNING AMERICANS TO UNDERSTAND THE FEDERAL GOVERNMENT “DEFICIT”

It was the same fairytale spouted by President Ronald Reagan when he sold us the con-job of “trickle down” economics - - - “cutting taxes for the rich and corporations will lead to an economic boom, government revenue will increase, and everyone will live happily ever after.” Unfortunately, fairytales aren’t true and when congress once again cut taxes for the rich at the end of 2017, the result was the same as it has always been (and what the politicians voting for it know full well it will be). It Grew the Federal Government Deficit.But when it comes to ...

Read More


Santa Claus and the Grinch

The annual Federal Government “deficit,” is the difference between the money Congress orders the US Treasury to create out of nowhere to spend into the economy and the money the US Internal Revenue Service removes from the economy through taxes. The Federal Government must operate in a “deficit” or there will be no money circulating in the economy to conduct private business. The “deficit” is a number on the Treasury’s computer screen. Nothing more.Since 2016 the Republican Party has been in full control of our federal government. They own the Presidency ...

Read More