Striking that the Liberals and Conservatives offer the same response to pain at the pump: siphon money out of the public purse instead of Big Oil’s profits.
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@icanbob @avilewis
If you think MMT means "taxes are unnecessary now" you have probably misunderstood MMT.Governments spend money into circulation, and tax it out of circulation. If they only spend it and never tax it, then the circulating pool of money grows too quickly: hyperinflation. Trust me that you don't want that.
@dragonfrog @icanbob @avilewis That’s an incomplete analysis. The value of money is determined by the supply of money relative to the amount of value available to be purchased in the economy. As a result, printing money for public investment does not cause hyperinflation, because the additional value created by investment at least partially offsets the increased money supply.
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Striking that the Liberals and Conservatives offer the same response to pain at the pump: siphon money out of the public purse instead of Big Oil’s profits.
Oil companies are on track to make tens of billions in windfall profits from Trump’s illegal war in Iran.
It’s their profiteering that’s driving up prices. It’s them who should pay.
It’s time for price caps on gas to stop oil companies from price-gouging Canadians — and a windfall profits tax on war-time oil revenues, so the government can invest that money in the public interest.
Carney temporarily suspending federal fuel excise tax on gas, diesel and aviation fuel | CBC News
A day after sweeping three byelections in Ontario and Quebec that gave him a majority in the House of Commons, Prime Minister Mark Carney says he is temporarily removing the federal excise tax on gas and diesel.
CBC (www.cbc.ca)
@avilewis more like war-crime oil revenues.
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@dragonfrog @icanbob @avilewis That’s an incomplete analysis. The value of money is determined by the supply of money relative to the amount of value available to be purchased in the economy. As a result, printing money for public investment does not cause hyperinflation, because the additional value created by investment at least partially offsets the increased money supply.
@janef0421 @icanbob @avilewis assuming there's no competition in the economy for the inputs into the project, sure. But there is, in fact, competition for construction labour and materials.
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@dragonfrog @icanbob @avilewis That’s an incomplete analysis. The value of money is determined by the supply of money relative to the amount of value available to be purchased in the economy. As a result, printing money for public investment does not cause hyperinflation, because the additional value created by investment at least partially offsets the increased money supply.
@avilewis @janef0421 @dragonfrog Here is my take on MMT.
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@icanbob @avilewis
If you think MMT means "taxes are unnecessary now" you have probably misunderstood MMT.Governments spend money into circulation, and tax it out of circulation. If they only spend it and never tax it, then the circulating pool of money grows too quickly: hyperinflation. Trust me that you don't want that.
@dragonfrog @avilewis I really love Warren Mosler’s business card analogy which shows that taxes are what gives fiat money it’s value.
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@janef0421 @icanbob @avilewis assuming there's no competition in the economy for the inputs into the project, sure. But there is, in fact, competition for construction labour and materials.
@dragonfrog @icanbob @avilewis Unless there’s a supply persistent supply shortage, that isn’t going to offset the increase in produced value. It might impact prices of those particular goods, but that isn’t inflationary by definition.
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I really wish he would have announced a 2.5B$ investment in #renewables and #EV charging, instead of yet another #fossilFuels subsidy.
Predominantly foreign owned O&G companies in Canada are going to make an extra $6B+ from 47's war on Iran... Instead of spending $2.4B of public money on a gas tax cut, Carney could have enacted a 75% excess profit tax (bringing in $4.5B+) and split the revenue 50/50 between renewable infrastructure and a affordability rebate to the 80% of Canadians with the lowest household incomes.
It would have helped more, would have resulted in actual generational infrastructure (which he like to talk about), and wouldn't require cuts to other programs to pay for.
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Predominantly foreign owned O&G companies in Canada are going to make an extra $6B+ from 47's war on Iran... Instead of spending $2.4B of public money on a gas tax cut, Carney could have enacted a 75% excess profit tax (bringing in $4.5B+) and split the revenue 50/50 between renewable infrastructure and a affordability rebate to the 80% of Canadians with the lowest household incomes.
It would have helped more, would have resulted in actual generational infrastructure (which he like to talk about), and wouldn't require cuts to other programs to pay for.
And they can do that now cus majority... but then they seem to be shit scared of upsetting the fossil industry.
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Striking that the Liberals and Conservatives offer the same response to pain at the pump: siphon money out of the public purse instead of Big Oil’s profits.
Oil companies are on track to make tens of billions in windfall profits from Trump’s illegal war in Iran.
It’s their profiteering that’s driving up prices. It’s them who should pay.
It’s time for price caps on gas to stop oil companies from price-gouging Canadians — and a windfall profits tax on war-time oil revenues, so the government can invest that money in the public interest.
Carney temporarily suspending federal fuel excise tax on gas, diesel and aviation fuel | CBC News
A day after sweeping three byelections in Ontario and Quebec that gave him a majority in the House of Commons, Prime Minister Mark Carney says he is temporarily removing the federal excise tax on gas and diesel.
CBC (www.cbc.ca)
@avilewis strong disagree. Its time for gas to cost twice as much and for people to realize they need to stop buying cars that use it. Purchasing gas is the problem, not the price of it. Average Canadian drives 15,200km/yr = ~1300L of gas at average 8.5L/100km. Saving $0.10/L is not exciting. Saving the whole $1.75/L is. Stop driving gas-only cars.
#EV #PHEV #vehicles #cars #driving #electrify -
@avilewis strong disagree. Its time for gas to cost twice as much and for people to realize they need to stop buying cars that use it. Purchasing gas is the problem, not the price of it. Average Canadian drives 15,200km/yr = ~1300L of gas at average 8.5L/100km. Saving $0.10/L is not exciting. Saving the whole $1.75/L is. Stop driving gas-only cars.
#EV #PHEV #vehicles #cars #driving #electrify@mikebabcock @avilewis And mandate apartment dwellers have chargers.
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@mikebabcock @avilewis And mandate apartment dwellers have chargers.
@503bartley @avilewis a number of places in Canada require EVSEs to be installed in all new builds. Putting them in older builds is harder. Requiring them in parking lots like handicap parking would be lovely though.
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Striking that the Liberals and Conservatives offer the same response to pain at the pump: siphon money out of the public purse instead of Big Oil’s profits.
Oil companies are on track to make tens of billions in windfall profits from Trump’s illegal war in Iran.
It’s their profiteering that’s driving up prices. It’s them who should pay.
It’s time for price caps on gas to stop oil companies from price-gouging Canadians — and a windfall profits tax on war-time oil revenues, so the government can invest that money in the public interest.
Carney temporarily suspending federal fuel excise tax on gas, diesel and aviation fuel | CBC News
A day after sweeping three byelections in Ontario and Quebec that gave him a majority in the House of Commons, Prime Minister Mark Carney says he is temporarily removing the federal excise tax on gas and diesel.
CBC (www.cbc.ca)
@avilewis That's what seems to be happening here in Japan. The end result of sudden-onset rationing will be interesting to observe (as a cyclist).
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Striking that the Liberals and Conservatives offer the same response to pain at the pump: siphon money out of the public purse instead of Big Oil’s profits.
Oil companies are on track to make tens of billions in windfall profits from Trump’s illegal war in Iran.
It’s their profiteering that’s driving up prices. It’s them who should pay.
It’s time for price caps on gas to stop oil companies from price-gouging Canadians — and a windfall profits tax on war-time oil revenues, so the government can invest that money in the public interest.
Carney temporarily suspending federal fuel excise tax on gas, diesel and aviation fuel | CBC News
A day after sweeping three byelections in Ontario and Quebec that gave him a majority in the House of Commons, Prime Minister Mark Carney says he is temporarily removing the federal excise tax on gas and diesel.
CBC (www.cbc.ca)
@avilewis a very interesting discussion here, thank you. Perhaps we need to plan a future that we want to see and detail it out, including the small steps required. Get public support for that (allowing for modifications along the way) and thus reduce the mismatch of what is, what’s needed and where the investments/money will be made in the future. Provided of course we don’t allow too much money going to any one company or individual.
