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- Might want to look up the definition of entitlements before you type your piece next time...it also means an earned benefit. That is what ppl paid into...Medicare is more akin to insurance. Ppl have paid the premium for a certain period of time and expect their contracts to be honored-benefits...hmmm..also, next time...try not to use slippery rope arguments...if, then...assume this...fallacious...fallacy are words that come to mind.....seems very irresponsible...at least, the proposal was an attempt at a solution...that is based on the law...it seems a bit more responsible than your piece...Mar 21, 2013
- Not sure I follow what you are saying. I'm saying that nothing in economic theory pins down the words.Mar 21, 2013
- Thank you for responding.
You may want to re-read your article. It has some very interesting remarks re: Medicare. Hence, my comments re: Medicare being more akin to insurance. It also seems to suggest that the "coin" is not needed as the US has already "performed" the trillion dollar coin "trick." The article does so by "assuming" a few things...thus, the fallacious/slippery slope argument comments. And as far as the economic theory pinning retort...Very glad that no one in this country truly subscribes to Malthus's economic prose/theories...Problem with economists at times...can't think outside the box of supply and demand. Just b/c it isn't presently within an economist's tool box...doesn't mean that it cannot be....i.e...Henry Ford's approach to Adam Smith's divison of labour---(assembly line)--Maybe the law is on to something by allowing seigniorage. You might want to look at http://www.ritholtz.com/blog/2013/01/trillion-dollar-coin-posts-on-legality-and-constitutionality/. Here is, at least, a look at competing legal arguments as to why it may or may not be legally feasible. If the coin(s) were in fact permitted, there are ways to "control" inflation. I simply think that maybe the gov't might want to think about bailing itself out. There are many national projects in this country that not only need to be considered, but done.Mar 22, 2013