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Why does a state like California that has supermajorities in both houses of the legislature not have a livable wage, housing guarantees, universal healthcare, and other very progressive policies? (lemmy.world)

submitted 5 months ago by [email protected] to c/[email protected]

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I keep being told it's because of the Republicans that we can't have nice things. So what gives in California? We should be overflowing with progressive policies.

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[–] [email protected] 2 points 5 months ago

The government just has to print for the money, and use it for that

Printing money means taxing those that have cash or assets valued directly in the units of the currency being measured. Those who mostly hold other assets (say, for example, the means of production, or land / buildings, or indirect equivalents of those, such as stock) are unaffected. This makes printing money a tax that disproportionately affects the poor.

What the government really needs to do is tax the rich. Many top one percenters of income fight that, and unfortunately despite the democratic principle of one person, one vote, in practice the one percenters find ways to capture the government in many countries (through their lobbying access, control of the media, exploitation of weaknesses of the electoral system such as non-proportional voting and gerrymandering).

instead of bailing out the capitalists over and over.

Bailing out large enterprises that are valuable to the public is fine, as long as the shareholders don't get rewarded for investing in a mismanaged but 'too big to fail' business (i.e. they lose most of their investment), and the end result is that the public own it, and put in competent management who act in the public interest. Over time, the public could pay forward previous generations investments, and eventually the public would own a huge suite of public services.