Read on Twitter
1/ #CancelRentNJ now, @GovMurphy.
This is what happens when the fed gov’t, which can pay for everyone’s rent, doesn’t – that is, chooses not to. It puts undo pressure on states during this precarious time, which have no more ability to issue US dollars than you or I do. https://twitter.com/oseguera2020/status/1248235366915674113
This is what happens when the fed gov’t, which can pay for everyone’s rent, doesn’t – that is, chooses not to. It puts undo pressure on states during this precarious time, which have no more ability to issue US dollars than you or I do. https://twitter.com/oseguera2020/status/1248235366915674113
2/ States can only pay for everyone’s rent if they (1) already have the money on hand. They very likely don’t, especially now. So they must (2) float a bond which must be repaid, (3) collect taxes from its richer citizens, or (4) pressure municipalities to freeze everyone’s rent.
3/ Municipalities in turn can only do (1), (2), and (3).
This rent freeze is on top of everything else the federal government could but won’t provide, even in good times: health crisis help, healthcare in normal times, public K-12 education, free college, etc.
This rent freeze is on top of everything else the federal government could but won’t provide, even in good times: health crisis help, healthcare in normal times, public K-12 education, free college, etc.
4/ This neglect ratchets up the pressure on the largest currency USERS (states), which in turn must focus that pressure onto smaller currency USERS (municipalities), which in turn ALWAYS focuses that pressure onto us. (We DEFINITELY ain’t currency issuers.)
5/ It does NOT, however, focus that pressure onto the richest citizens in the state because those are exactly who own the state legislatures, because they really do fund the state coffers, because the federal government won’t provide.
6/ It also does not focus that pressure onto the richest citizens in the state because they are also the ones who fund K-12 through their large property taxes, are the biggest donors to universities, and are "graciously donating" desperately needed supplies during this crisis.
7/ Yes, we must demand that NJ Governor @PhilMurphyNJ #CancelRentNJ. We must also demand it of our landlords and our municipalities.
8/ Most of all, however, all renters and mortgage holders across the entire country must stand together and demand our elected federal representatives use the immense fiscal powers provided to them by the Constitution, to VOTE to cancel rent for all.
9/9 (After that, maybe we can have a conversation about why people should have to pay to have a modest roof over their head in the first place...)
To learn the truth about federal finance, here is a good place to start. https://twitter.com/mmtresources/status/1188935401827901440?s=21
To learn the truth about federal finance, here is a good place to start. https://twitter.com/mmtresources/status/1188935401827901440?s=21
Facebook version of this thread: https://m.facebook.com/activistmmt/photos/a.151982812881995/221076572639285/?type=3
