Latest posts by Livio Nespoli (see all)
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It is the real business community that creates jobs, not the bankers and multinationals. In fact, 70% of jobs are created in the real business community and they are the ones excited about Trump’s tax plan to reduce corporate taxes to 15%.
So if we bring back the excess reserves at the Fed and nearly $3 trillion in cash these multinationals have moved offshore to avoid taxes, it would ignite a real economic recovery. Then all we have to do is outlaw the Fed paying interest to the banks for NOT lending money, and what we will get a economic boom of spectacular size. You will have about $5 trillion freed up in an economy that is $18 trillion. It would be easy to create jobs and an economic boom.
All the US government has to do is end the socialism. This same formula would work in Europe as well.