USPolitics: Warren Mosler's Million Dollar Challenge, "Prove Me Wrong"

[Ellis]

The JOBS candidate Warren Mosler announces his

Million Dollar Challenge to Senate CANDIDATES

Middletown, Conn. (June 2, 2010) – Warren Mosler, Independent candidate for US Senate, knows for a fact that, operationally, there is no such thing as the US government running out of dollars, being dependent on foreign borrowing, or potentially facing a solvency crisis like Greece, and he has pledged $1 million of his own money to any of his Senate opponents on the ballot who can prove him wrong.

“Those concerns are due to pure fear mongering from supposed experts. They have no factual basis, and they have become the true obstacles to the return of full employment and prosperity” said Mosler, who added “and there is absolutely no financial reason to cut Social Security or Medicare benefits.”

Many have also argued that the nation’s growing debt rules out further tax reductions, but Mosler says those assertions are blatantly untrue, proposing a full payroll tax (FICA) holiday for employees and employers that will add over $300/mo to the take home pay of someone earning $50,000 a year. This plan and similar initiatives will reintroduce the capital the economy needs to prosper and grow.

“We lost over 8 million private sector jobs primarily for one reason- sales collapsed,” said Mosler. “My full payroll tax (FICA) holiday for employees and employers boosts take home pay and helps lower prices to quickly restore those lost sales which brings back the lost jobs, fixing the economy the right way, the American way, from the bottom up.”

In the midst of our and social economic calamity, with the Republican and Democratic candidates offering no viable plans to restore full employment, Mosler, an expert in monetary operations, is uniquely qualified to quickly move America back to full employment and prosperity. He knows the American economy works best when people working for a living have enough take home pay to buy the goods and services they produce, with business competing for those consumer dollars.

Mosler congratulated candidates McMahon and Blumenthal on their convention victories, and looks forward to public debate on the urgent economic issues facing our nation and the world.

“We have seen Republicans and Democrats overseeing the devastatingly tragic loss of over 8 million jobs. And while lower income people working for a living struggle to survive, elites who contributed to our problems rake in billions from bailouts,” said Mosler. “It’s time the government focuses on getting its hand out of the pocket of the hard working Americans who make this country great.”

http://uspolitics.einnews.com/article.php?nid=870653

http://moslerforsenate.com/

[greenspandan]

how do you provide proof of an opinion again?

[Fergasun]

That's one Senatorial debate I can't wait to see. I seem to remember a poster here on ES launching a thread with a similar thought. Zimbabwe was never at risk of running out of dollars either.....

[techboy]

I thought McD5 lived in Florida... :whoknows:

[Ellis]

Well, the opponents only have to prove him wrong and they get $1million.

If Mosler is wrong, they get $1million.

Who wouldn't jump at the chance to score $1million?

I know they won't take the bait b/c they'd lose.

I've been following Mosler's blog for years. http://moslereconomics.com/

He's an interesting guy who is very accomplished and has offered a unique, honest look at the economy of the USA.

This Million Dollar Challenge is going to force politicians--at least in this one state--to discuss it honestly, without rhetorical bombs intended to discredit each other.

[Predicto]

Well, the opponents only have to prove him wrong and they get $1million.

If Mosler is wrong, they get $1million.

Who wouldn't jump at the chance to score $1million?

I know they won't take the bait b/c they'd lose.

I've been following Mosler's blog for years. http://moslereconomics.com/

He's an interesting guy who is very accomplished and has offered a unique, honest look at the economy of the USA.

This Million Dollar Challenge is going to force politicians--at least in this one state--to discuss it honestly, without rheorical bombs intended to discredit each other.

No it's not. It's a stupid gimmick.

Creationists have been doing the "million dollar challenge" for years. The thing is, to collect you have to get THEM to admit they are wrong. Strangely enough, that never happens.

[Larry]

Well, the opponents only have to prove him wrong and they get $1million.

If Mosler is wrong, they get $1million.

Who wouldn't jump at the chance to score $1million?

I know they won't take the bait b/c they'd lose.

I've been following Mosler's blog for years. http://moslereconomics.com/

He's an interesting guy who is very accomplished and has offered a unique, honest look at the economy of the USA.

And all somebody has to do to prove him wrong, is:

Create unlimited deficits.

Wait for economic catastrophe to occur.

And then have this blowhard admit that the catastrophe was caused by his policy, and not by something else.

[gbear]

So the way to prove him wrong is to make the dollar worthless. Then, he will give me a million worthless dollars?

Of course, the real trick would be bringing back some value to the million dollars so I could use them to buy a big mac.

[Ellis]

Well, since you guys make it so simple... I look forward to seeing a fact based rebuttal from one of the candidates he is running against followed by a $1million check written to the winners campaign.

:cool:

[19Skins72]

I have not researched this guy at all, and just read the quotes from the OP but...omg, his economic theory sounds like the ultimate liberal wet dream!

[Predicto]

I have not researched this guy at all, and just read the quotes from the OP but...omg, his economic theory sounds like the ultimate liberal wet dream!

As a dyed in the wool liberal, I resent that. :mad:

[Predicto]

Well, since you guys make it so simple... I look forward to seeing a fact based rebuttal from one of the candidates he is running against followed by a $1million check written to the winners campaign.

:cool:

First "disprove" creationism.

:cool:

[Hubbs]

What a moron. Has he never heard of "bond vigilantes"? Bump the 10-year Treasury rate up to just 6% - which would still be low compared to previous decades - and see what happens to housing prices.

[gbear]

What he proposes sounds to me remarkably like the right's version of the Lafer curve. They say the curve shows you can reduce taxes and increase tax revenue.

He says you can do away with taxes for a bit, run a higher debt, and it won't matter. I guess everyone dreams of why nobody needs to be taxed. That's not really a right or left thing anymore.

You think my credit card company will accept that logic?

[PleaseBlitz]

No it's not. It's a stupid gimmick.

Creationists have been doing the "million dollar challenge" for years. The thing is, to collect you have to get THEM to admit they are wrong. Strangely enough, that never happens.

Americans LOVE stupid gimmicks.

Personally, I think his idea of instantly creating jobs simply by restoring sales is incredibly flawed logic that he has carefully surrounded by fancy sounding econo-speak, but as far as gimmicks go, pretty much calling anything the "million dollar challenge" is going to catch folk's attention.

[Larry]

I have not researched this guy at all, and just read the quotes from the OP but...omg, his economic theory sounds like the ultimate liberal wet dream!

Actually, it sounds like the economic policies of every single Republican since Reagan. Including Reagan.

(Well, it is slightly different. This guy wants to only give half of his tax cuts to corporations.)