#THISisJFKStimulus

But the most direct and significant kind of federal action aiding economic growth is to make possible an increase in private consumption and investment demand -- to cut the fetters which hold back private spending. In the past, this could be done in part by the increased use of credit and monetary tools, but our balance of payments situation today places limits on our use of those tools for expansion. It could also be done by increasing federal expenditures more rapidly than necessary, but such a course would soon demoralize both the government and our economy. If government is to retain the confidence of the people, it must not spend more than can be justified on grounds of national need or spent with maximum efficiency. And I shall say more on this in a moment.

The final and best means of strengthening demand among consumers and business is to reduce the burden on private income and the deterrents to private initiative which are imposed by our present tax system -- and this administration pledged itself last summer to an across-the-board, top-to-bottom cut in personal and corporate income taxes to be enacted and become effective in 1963.

I'm not talking about a "quickie" or a temporary tax cut, which would be more appropriate if a recession were imminent. Nor am I talking about giving the economy a mere shot in the arm, to ease some temporary complaint. I am talking about the accumulated evidence of the last five years that our present tax system, developed as it was, in good part, during World War II to restrain growth, exerts too heavy a drag on growth in peace time; that it siphons out of the private economy too large a share of personal and business purchasing power; that it reduces the financial incenitives [sic] for personal effort, investment, and risk-taking. In short, to increase demand and lift the economy, the federal government's most useful role is not to rush into a program of excessive increases in public expenditures, but to expand the incentives and opportunities for private expenditures.

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source: American Rhetoric: John F. Kennedy - Address to the Economic Club of New York

#THISisAmericanCommunism

1. Guaranteed Work for Everybody
Unemployment blows. The easiest and most direct solution is for the government to guarantee that everyone who wants to contribute productively to society is able to earn a decent living in the public sector.
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Imagine a world where people could contribute the skills that inspire them – teaching, tutoring, urban farming, cleaning up the environment, painting murals – rather than telemarketing or whatever other stupid tasks bosses need done to supplement their millions.

2. Social Security for All
What if people didn't have to work to survive? Enter the jaw-droppingly simple idea of a universal basic income, in which the government would just add a sum sufficient for subsistence to everyone's bank account every month.
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Put another way: A universal basic income, combined with a job guarantee and other social programs, could make participation in the labor force truly voluntary, thereby enabling people to get a life.

3. Take Back The Land
The most mainstream way of flipping the script is a simple land-value tax. By targeting wealthy real estate owners and their free rides, we can fight inequality and poverty directly, make disastrous asset price bubbles impossible and curb Wall Street's hideous bloat. ... In any case, we have to stop letting rich people pretend they privately own what nature provided everyone.

4. Make Everything Owned by Everybody
"Capital stock" refers to two things here: the buildings and equipment that workers use to produce goods and services, and the stocks and bonds that represent ownership over the former. The top 10 percent's ownership of the means of production is represented by the fact that they control 80 percent of all financial assets.

Just buy up their stocks and bonds. When the government does that, it's called a sovereign wealth fund.

5. A Public Bank in Every State
There is only one state that currently has a public option for banking: North Dakota. When North Dakotans pay state taxes, the money gets deposited in the state's bank, which in turn offers cheap loans to farmers, students and businesses. The Bank of North Dakota doesn't make seedy, destined-to-default loans, slice them up inscrutably and sell them on a secondary market. It doesn't play around with incomprehensible derivatives and allow its executives to extract billions of dollars. It just makes loans and works with debtors to pay them off.

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source:
EXCERPTED from w/ emphasis added: Five Economic Reforms Millennials Should Be Fighting For | Politics News | Rolling Stone