Money is no Object
** This article was published on Counterpunch January 11, 2019 ** Chances are, most of what you’ve learned about taxes and the economy is wrong. In fact, the key principles at work in our economic system are very different from what we’re taught. If you find you’re one of those who’s been misled, it’s not your fault. A system such as ours – where eight individuals control as much wealth as half of all humanity – can only be maintained with force and deception. As the industrialist Henry Ford is said to have opined, “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” It’s commonly believed that: · Today’s money has intrinsic value. (It doesn’t.) · Taxes fund government spending. (They don’t.) · Automation inevitably threatens jobs. (It doesn’t have to.) · Federal budget deficits must saddle future generations