11.18.2017

Tax Cuts - 2

More on this earlier post on tax cuts

Starting with another good post by Ian Welsch: Five Hundred Million Dollar Negative Yield Bond Issued

The problem in the world today is the same as it was 15 years ago, before the financial collapse: There is too much money chasing not enough returns. Because there isn’t enough real growth, that money moves into bubbles and fraud, and destroys companies through leveraged buyouts and so on, but it also means that, if there isn’t enough fraud or predation going on, it sits and stagnates and does nothing worthwhile.

There is simply too much cash in the hands of the wealthy right now.  There are bubbles in stock markets, artwork, muscle cars, high-quality housing, education and health care, while inflation and growth in economy as a whole is mostly non-existent.



We don't need tax cuts to give the rich a few more dollars to buy $600 ping-pong paddles or $9,000 silver, balls-of-yarn (see below). They have so much cash now they don't know what to do with it.

We need higher taxes on the wealthy to help fund a system that gives the struggling working class a little breathing room in their economic lives.



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