12 votes

How come Australia suddenly has billions of dollars to pay for welfare?

2 comments

  1. [2]
    Omnicrola
    Link
    Good article, it walks through something that's been itching at the back of my brain for a few weeks. When the economy tanked, the US Congress passed a 1+ trillion dollar stimulus bill. Where in...

    Good article, it walks through something that's been itching at the back of my brain for a few weeks. When the economy tanked, the US Congress passed a 1+ trillion dollar stimulus bill. Where in the world does that money come from? Taxes? I doubt it, that would mean there was 1 trillion in tax revenue (or future tax revenue) that wasn't already designated for something. So where did it come from? How can that money just magically appear from in an emergency?

    Oh that's right, it's because money is a shared societal concept, and only has value because we all agree it does.

    7 votes
    1. JamesTeaKirk
      Link Parent
      I always find it interesting that the Republicans have been able to create this false understanding about Congress's ability to fund things while simultaneously cutting revenues at every chance...

      I always find it interesting that the Republicans have been able to create this false understanding about Congress's ability to fund things while simultaneously cutting revenues at every chance with little concern for "how they'll pay for it".

      2 votes