splitrocket

Joined 17 years ago

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278

Member since

May 21

Entrepreneur, nerd, tinkerer, philosopher and hacker. contact me: bill at cromie.org

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Comment · 1 year ago

"War is just a racket. A racket is best described, I believe, as something that is not what it seems to the majority of people. Only a small inside group knows what it is about. It is conducted for the benefit of the very few at the expense of the masses." - Major General Smedley Butler

https://en.wikipedia.org/wiki/Smedley_Butler

"Every gun that is made, every warship launched, every rocket fired signifies in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children. This is not a way of life at all in any true sense. Under the clouds of war, it is humanity hanging on a cross of iron." - President Eisenhower

Military Spending and Tax Cuts for the wealthy have some of the lowest economic multipliers of all government activities: https://en.wikipedia.org/wiki/Multiplier_(economics)

* Education spending: 2.4 (Federal Reserve research) Source: Federal Reserve

* Medicaid/healthcare: 2.0 Source: Congressional Budget Office Cbpp

* Food stamps (SNAP): 1.73-1.74 Sources: Mark Zandi/Moody's Analytics, Americanprogress, Manhattan Institute

* Unemployment insurance: 1.61-2.1 Sources: Blinder & Zandi; Urban Institute, Americanprogress

* Infrastructure spending: 1.0-2.5 Sources: CBO, Blinder & Zandi, Feyrer & Sacerdote, Americanprogress

* Military spending: 1.5 (average) Source: Federal Reserve

* Middle-class tax cuts: 0.6-1.5 Sources: CBO, Blinder & Zandi, Feyrer & Sacerdote, Americanprogress

* Upper-income tax cuts: 0.2-0.6 Sources: CBO, Blinder & Zandi, Americanprogress

* Permanent extension of all Bush-era tax cuts: 0.35 Source: Moody's Analytics model, Cbpp

Dollar-for-dollar, social program spending consistently produces higher economic returns than military spending or tax cuts, especially tax cuts for the wealthy.

$1 billion spent on education or transit creates more than twice as many jobs (17,687-19,795) as the same amount spent on defense (8,555). -Cigionline

In fact, military spending can actually slow economic growth over time; a 1% military spending increase can reduce economic growth by 9% over 20 years.

Zandi's analysis of 2010 tax legislation found that 90% of economic growth and job creation came from unemployment insurance extensions and targeted tax credits, while high-end tax cuts had "only very small economic impacts." - Cbpp

Jack Ma was completely correct: US wasted trillions on warfare instead of investing in infrastructure. https://www.cnbc.com/2017/01/18/chinese-billionaire-jack-ma-...

Comment · 1 year ago

It will not be announced.

Fun fact: the current Republican administration was pushing a budget that substantially increased the federal deficit. The one that was finally approved is still a massive budget deficit increase.

Obama reduced the deficit by nearly half during his presidency, the current FY2025 budget has authorized a $1.9 trillion deficit (6.2% of GDP), with reconciliation instructions potentially allowing for a staggering $3.3-5.8 trillion in additional deficit increases over the next decade.

* Obama's final deficit (2017): $666 billion

* Current 2025 projected deficit: $1.9 trillion

This represents an increase of approximately $1.23 trillion, or about 185% higher than Obama's final deficit. The current deficit is nearly triple what it was at the end of the Obama administration.

Republicans have mastered the art of fiscal hypocrisy: campaigning against deficits to win elections, then ballooning them with tax cuts for the wealthy, only to leave Democrats with the thankless job of fiscal cleanup—for which voters reliably punish them at the polls.

Comment · 1 year ago

Tolerance is not suicide pact, nor is it a moral imperative.

Tolerance is a peace treaty, and only extends to those who participate.

Tolerance is an agreement to live in peace, not an agreement to be peaceful no matter the conduct of others.

The Paradox of Tolerance: Karl Popper

Comment · 1 year ago

Isn't it supposed to be a "hell hole"?

Note: you and your children are more likely to be killed by a car in an American suburb than even be remotely harmed in any way by a stranger in NYC.

Comment · 1 year ago

For every complex problem, there is a solution that is easy, simple, and wrong.

And then there's the Ashby's Law of Requisite Variety (not sure it's a law), which states, simplified, that a simpler system cannot control a more complicated system.