Bill Casey

Retired public finance economist

[Bill Casey @BillCaseygny]

@mitchellvii BM,

Speaking of gas …your expelling a lot of it

There’s a malodorous scent to your spin ….

How about voting Democratic because they see their Emperor Trump has no clothes 😊😊😊

[Bill Casey @BillCaseygny]

BM ,

Cap Ex spending and govt war spending aren’t the GDP that help most of the folks

Trump has the US economic ship taking on water …he’s still wandering around looking for his strawberries

Keep spreading the gaseous fumes BM ..but other than the MAGA kool aid crowd the folks have seen enough

Get ready for a shellacking at the polls 😊😊

[Bill Casey @BillCaseygny]

Not sure if you know this ..but unless you’re a member of the Chinese Communist Party …China is no place to enjoy a comfortable consumptive lifestyle …their economy has huge and perduring problems …too dependent on exports and carbon based imports ( refined petroleum and natural gas ) , they have a huge deflation problem in residential and commercial property values , large local government debts and a homogeneous citizenry that refrains from buying a lot of consumptive stuff (largely cultural issue) . And , even more than US they have a rapidly aging population dependent on the state. It is no Country for old folks .

Communism and full Euro type Socialism are largely flawed and failed systems for organizing a society’s economic activity. I think the US problem is not market based capitalism ..our system has proven to have the right incentives for work, saving, investing and innovating to promote economic growth and improved lifestyles.

We just need some tweaks to make sure that those who work hard to deliver essential goods and services in our economy get compensated enough to pay for their basic necessities—rent , food, electricity and transportation.

How do we do this ? Well , read my new book :

Worker Basic Income …Making Work Affordable for Workers

[Bill Casey @BillCaseygny]

All good man…there’s a preference in our market economy for goods and services to be provided by private actors ( businesses and entrepreneurs) . However, as you saw in your research , many times private markets either don’t deliver the desired goods and services ( e.g, public goods , externalities ) or do so inefficiently ( monopolies , common resources.) Whether or when the Government replaces private markets in delivering these goods and services is a societal choice

I think National defense , police and other law enforcement , courts and protection of private property rights are straightforward govt operations in most societies.

Other issues such as public education , public health provision , social security , etc are choices . The US will never be Communist China or even socialist Euro countries. There’s political rhetoric out there to this effect but that’s just silly banter among folks trying to get votes .

[Bill Casey @BillCaseygny]

@larry_kudlow Larry ,

Ensconced in Your Potemkin village again 😊😊

Reading between the WHITE lines , SNORTING through the Data Maze

Drinking Champagne …high on ..rhymes with Champagne

[Bill Casey @BillCaseygny]

@mitchellvii BM ,

Keep that foul air flowing …when the Trumpster is running a Fool R US operation out of DC …might as well throw some smelly stuff at the wall and see if it sticks 😄😄

[Bill Casey @BillCaseygny]

@mitchellvii BM

Prepare your audience for a November shellacking at the polls …the Trumpster has caused so much economic damage that your GASEOUS attempts at distraction are truly malodorous

Translation BM your spin is stinking up the social sphere 😄😄😄😄

[Bill Casey @BillCaseygny]

You should go on any AI program (like ChatGPT) and inquire if tax receipts are commonly referred to as tax revenue

I mean you can call these taxes anything you want ..receipts , exactions as long as you know that they are commonly called tax revenues by folks who study this stuff

If you understand the difference between privately and public ally provided goods and services in the US economy and what the different reasons are for these market provision differences, that’s what is important . Seems like you have some understanding of these distinctions but if you have any other questions on this topic , I would be glad to answer them .

[Bill Casey @BillCaseygny]

@2ears__1mouth @StephenMoore @SteveForbesCEO No one is talking about taxing unrealized capital gains for the 99.5 percent of households that are not multi millionaires

I mean that’s what the proposal is ..just for multi millionaires . Ask the voters about that ..I guess ?

[Bill Casey @BillCaseygny]

BM,

Don’t you think the shareholders of the major US current owners of petroleum refineries such as Exxon-Mobil, Chevron, Marathon , Valero , British petroleum have some say into whether a refinery is shut down. I guess if these shareholders are all democrats ..your right😊😊

Seems like these companies are making significant profits due to the excess of US crude production over their capacity to refine it .

You know from basic economics that when supply is constrained and demand is growing (gas and diesel fuel are pretty inelastic goods in their demand by consumers) .

So the US petroleum refining industry has what economists call an Oligopolistic market structure (from the Greek for few sellers ) . Not a bad profit structure if you’re the seller ..not so good if you are a buyer

Of course , there is the issue of getting stuck with a stranded fixed investment if Government policies are advanced to curtail the use of petroleum products …but we know the major oil companies have the cash to decide who gets to make those policies

Funny comment..nice try but no cigar BM 😊

[Bill Casey @BillCaseygny]

Some goods and services that are used by the public like say

National defense , police , court system , prisons , non toll roads , bridges , etc …are goods and services that once provided are non excludable to non payers .

So, if you choose to not pay for National defense say ..one of the largest categories of federal govt expense ..you still get the protection of that service …same with local police say

So, that’s called the free rider problem and is one of the primary reasons we have a taxing system . There are other characteristics of public goods that require a taxing system such as non-rivalness in consumption

If you are really interested in why we need a taxing system for public goods and services and why the taxes are considered revenues , you can google any introductory discussion of this issue . Hope this helps

[Bill Casey @BillCaseygny]

When you buy a pizza , the pizza shop takes your payment and accounts for it as revenue in their operations

When the same pizza shop collects sales tax from you on your purchase and submits that payment to the state and/or local government that’s revenue to the state or local govt .

That revenue may then be used by the state or local govt to pay for a police force , local court system , prisons , etc. ..these are goods and services that unlike the pizza shop that are considered public goods and are paid for through taxes .

These are accounted for by the local or state taxing authorities as revenues

Hope that helps

[Bill Casey @BillCaseygny]

Also roughly 1/3 of the US Billionaire households are heir wealthy ..they are not the job creators . Also a lot of the Tech Bro’s are AI wealthy ..their long term status as major employers is questionable as AI drives labor employment potentially down. There are currently spikes up in AI related employment but these are largely in initial data center and electric grid foundational buildouts , chip production and AI foundational platform development …

[Bill Casey @BillCaseygny]

Read my book ..the ultra rich marginal propensity to consume an additional dollar of income is much less than that of the working class worker household that needs the dollar for necessities . It’s toward the affordability problem expressed by Americans now.

Because 2/3 of US GDP is derived from the Consumption (C) component of C+ I+ G + ( net exports) —macro economy identity , subsidizing the market paid wages of the working class with a WBI monthly payment derived from the tax proposals discussed above makes economic sense . And ask voters what they think of taxing the top 1/2 of 1 percent of taxpayers (less than 1 million) to potentially assist the market wages of potentially 30 million households ? So to non plutocratic donor dependent politicians it should make sense too.

Put that proposal to the electorate and see if they approve of it …

[Bill Casey @BillCaseygny]

BM,

You are really living in a Potemkin village …full of Trump “soiled federal data “ ….other than the MAGA kool aid drinkers Americans have seen enough ..the Trumpster has tanked the Country . I mean who believes any federal data now after Trump cleared out the professionals and brought in the data cooks

Folks are hurting out there

-record high gas & diesel fuel prices
-farmers on the edge with high fuel and fertilizer input prices and tariff truncated export markets
- beef prices up 8% over the last year
- folks losing their health care coverage

The wheels are off BM and your spin is smelling really foul to the folks out there

[Bill Casey @BillCaseygny]

Bill O ,

You’ve lost touch with the folks …your kool-aid stand nonsense about the rebirthing of anachronistic and failed systems for organizing economic activity …using terms like socialism and communism are stale BS …no thinking, sentient American wants to hear this nonsense

Maybe the hard core MAGA base buys this stuff but the rest of the folks are looking at the real and abysmal failure of Trump’s economic and foreign policy decisions . He’s done a very poor job of running the Country …so prepare for a shellacking at the polls

[Bill Casey @BillCaseygny]

Ted,

You’re really missing the whole policy game here ..it’s not a movement to socialism …it’s moving away slightly from unfettered capitalism toward throwing in a mix of Laborism

You know you work real hard and you get compensated at least enough to pay for necessities like rent, food, electricity, health care & transportation

You want to see how that might work :

Read my new Book: Worker Basic Income ..making work affordable for workers …a proposal for change

There’s no Free Lunch in this proposal …no communism or socialism …a mix of Laborism yes ..,for hard work !!!

[Bill Casey @BillCaseygny]

Agreed ..I just wrote and had a book published :

Title : Worker Basic Income —Making Work Affordable for Workers ….A Proposal for Change

Check it out …hopefully my publisher’s editors caught any grammatical errors I made ..as you discovered 😊 …but if they missed any of course I own the mistakes 😊😊