Matthew Yglesias

@mattyglesias ↗

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Last Checked Jan. 15, 2023

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Wed Jan 11 11:49:35 +0000 2023

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Matthew Yglesias @mattyglesias

Thus you generate more than $10 for a $10 increase the face value of debt. And because debt is constantly rolling over, you can replace more than $10 of old face value with the new high-coupon bond — the face value of the debt magically shrinks. https://t.co/COhytbUf63 — PolitiTweet.org

Posted Jan. 11, 2023

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Matthew Yglesias @mattyglesias

Instead of saying “give us $100 for this $100 bond and we’ll pay you a modest interest rate?” go to auction and say “here’s a $10 bond with a very high interest rate, how much will you pay us for it?” Investors would pay more than $10 for that bond. https://t.co/COhytbUf63 — PolitiTweet.org

Posted Jan. 11, 2023

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Matthew Yglesias @mattyglesias

First GOP bill: Make it easier for business owners to cheat on their taxes. Second bill: Large tax increase on the bottom seventy percent of the income distribution to cut taxes for the rich. — PolitiTweet.org

New: Rep. Buddy Carter confirms to me that his Fair Tax Act will get its first-ever floor vote as part of speaker t… https://t.co/yJKNb6en3y

Posted Jan. 11, 2023