The Berkshire Eagle has an op-ed Rinaldo Del Gallo, III: The race’s true progressive Also posted one Facebook.

I think it is a great explanation of his campaign, but I find a troubling theme that runs through it. Here is an example of what bothers me.

Many do not know that higher education at state schools was once quite affordable because government had the revenue to pay most of the tab.

It is kind of complicated, but if you talk about this in terms of revenue, then people are led to many false assumptions. In the 50’s and 60’s the idea of revenue might have been more appropriate because we were still on the gold standard back then. Nixon took us off the gold standard in 1972.

The real reason to have higher taxes is to stop inflation. Since the FED creates money at will, there is no such thing as “we don’t have the money”. However, if there is too much money so that the private sector can employ a large percentage of the economy’s capacity, and the government sector also tries to employ some of this capacity, then there will be inflation. For the government to use the part of the economy’s capacity for investment in the country, then we have to make sure the private sector only has the funds to use the available part of the economy’s capacity that is left.