Money & Morality
This week's reading of The Deficit Myth got me thinking about just how abstract money is, especially when it comes to "national" debt. I'll admit I've never understood how the deficit works in this country - how can the government be in debt...to itself? Don't they create the money now? How are we in debt but affording billions in bloated military costs, Congressional salaries, and bank bailouts?
When the government sent out the CARES act stimulus package, it was touted as the BEST they could do - there is only so much money, after all, to go around. $1200 for what is now a 6+ months crisis is laughable and shows just how out of touch most of Congress is with "regular" Americans.
I then thought about the New York Times article that came out about Trumps's taxes - that he paid $750 in taxes two years in a row. In 2017, my husband and I made, jointly, about $80k and we paid almost $3k in taxes - four times as much as the president. Does Trump's money management make him smart, or corrupt? Does it matter? It seems there's little fallout from this - folks who were already skeptical of his money management are proven right, which people who support him still are finding ways to explain about his abhorrent behavior.
If I could change policy right now, it would be to force the president, Congress, and other government entities to continuously be fully transparent - in plain language - about how much money they make, spend, create, and where it all goes. Full accountability for every dollar that is moved around.
Kathryn Whitehead posted in her blog about schooling costs and continued debt faced by graduate students at a time when most of us are struggling harder than ever to make ends meet. This got me thinking about our job prospects post-graduation.
In the United States, the "helping" professions are typically underappreciated and hugely underfunded. Through COVID, we're told there is less money than ever for social support programs (as well as many other things). When we emerge from graduate school with our MSWs, our years of experience, our internships, our debts - how likely is it that we'll be offered reasonable salaries at non-profits? How much will these agencies even be able to afford when hiring on new employees?
This of course relies on continued insistence that there is never enough money to go around in this country, a notion which is strongly shut down in The Deficit Myth. I look forward to finishing the book and perhaps reading it a second time - there is so much I didn't know, was never taught, that I am overwhelmed with new information...or perhaps I am just overwhelmed at the shock of just how much is hidden from the public.
Emily, your post resonates with me deeply. I also find myself rereading the book, amazed and shocked at what little I know about fiscal policies and finances within our government. I also appreciate where you touch on the future for students like ourselves and the lack of reasonable salaries available and provided to us after graduation. These are all authentic points and matter not only for current students but also for future ones. My mind kept thinking about health care and access to health when you addressed students, and I find myself thinking similar thoughts that you make regarding students to this issue... If the government creates money, why is it so complicated? Why does profit and gain matter moreover everyday people? Thanks for sharing your takeaways, and I look forward to hearing more of your insights from the book.
ReplyDeleteEmily,
ReplyDeleteI admit when reading the book I was perplexed as well as to why the CARES act was as you put it "the best they could do" When we see money being allocated for the military, to bail out big businesses and corporations all the time.
I also I agree there should be a transparency of incomes for those in D.C. There is on a state level you can go to any state website and look up how much any employee makes. When you go to senate.gov it says how much each position makes but it doesn't include other incomes, monies paid from lobbyists etc. If there was more accountability there would be less shadiness, we would know where those who support us true intentions lies.
Great insights about a number of issues we are facing!
So... I'm not sure I agree. I don't hear the argument "there's never enough money to go around." I hear the arguments "that's not a priority" (public education a la Betsy DeVos) or "we have more important things to do" (i.e. the defense budget. Always the defense budget.) I didn't need Kelton's theories to convince me that we have the money; I believe that we have the money. I do think we need a complete overhaul to corporate/billionaire tax law, which you touch on in your post.
ReplyDeleteThe problem, as I see it, is basic human dignity. If we don't prioritize/value our wellbeing (housing, healthcare, and other basic needs), then we aren't even making an attempt to find them money, as so many left-leaning politicians have described to us, and as is modeled through European approaches/Democratic Socialism.
I think perhaps we're just interpreting the same issue in two different ways - priority vs availability. Either way, it's certainly true that basic human needs are seen as a priority, and access to that which will meet the needs is viewed as a privilege, and not a right. How many times have you heard someone say, "If you want better pay, get a better job" or "homeless people should just a job", as if the only way you're deserving of things like housing or a living wage is to trade your labor for it.
DeleteValorie made a point in her blog that community services often step up to fill in gaps where the government is failing its citizens, and that gives the gov't more wiggle room to continue ignoring those in need...but the community services can't stop, because without them people will suffer great harm. Where do we go from there?
**basic needs are NOT seen as priority
DeleteTotally, that makes sense. Those on the more conservative (i.e. inhumane) end of things need a lesson in inflation 101 - $7.50 today isn't what it used to be :(
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