He’s Got My Vote

Yesterday I was driving into New York City for a couple of meetings, and I heard an old friend from the business being interviewed by Kathleen Hays on Bloomberg Radio.

I was amazed that Warren Mosler is running for Chris Dodd’s seat in the US Senate.

I thought his business interests in Florida and the US Virgin Islands would keep him from coming back to New England, but maybe he’s getting a jump on future northward migration from global warming.

Warren was a “blogger” on economic and market topics before there was blogging. Besides making the fastest sports car on the planet, he used to pen columns on the economy, the market, and government policy before we even used the internet to communicate.

His position papers and thought pieces that were very popular with professionals in the bond business throughout the late 80’s and 90’s, so I suppose it’s no surprise to find him sharing his thoughts on the web today.

I’ll be contacting the campaign to see how I can help.

hh

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2 Responses to He’s Got My Vote

  1. David Ericson says:

    Howard — Mosler has a highly interesting proposal that just may put a hell of a lot of people back to work. Suspend FICA contributions for all individuals and businesses (for how long would have to be thought through). If more sales = more jobs (ceteris paribus), more money in the pocket of people and businesses in the productive economy should ignite job creation and create a more virtuous money cycle (including tax receipts). Beats the hell out of shoveling money into insolvent banks and watching M1 – M3 continue to decline, as the FED is doing. This is one fiscal stimulus that all of us (no matter what political stripe) should support — especially a tax cut that is the opposite of regressive, but which would benefit small and large productive business, as well.

    David in Hawaii

    • hhill51 says:

      I was pitching this in 2008 to a buddy (Fellow at AEI)… My favorite part is that it pays “double” to self-employed small business people, and it only rewards companies that employ Americans. It also gives no reward to those who legally (or illegally) avoid paying what became the largest tax in America last year, whiners about income tax to the contrary notwithstanding. The final benefit vs. other lump-sum tax breaks is that it appears every week in people’s paychecks, making it much more likely to be recirculated. After all, the big problem right now is how to increase end demand. No amount of breaks will make a business invest that is not operating anywhere near capacity, so half or more of the previously given corporate tax breaks did exactly nothing for the GDP, and dollar-for-dollar increased the national debt.

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