I felt that my Readers ought to read this link today, even though I did not plan to Post; blogging being one of those Jobs where a Day Off is belittled. I would further advise pursuing her Recent Post links. I cannot say that I agree with all which she writes, but it is comforting to know that someone other than I considers Taxation to be a normal Operating Cost. It is relevant that it has been during the shrinking Tax Years (1997-2010) that Income Inequality has grown so proportionate–remember back when We talked about the Top 10%, rather than the Top 1%? It started immediately after Republicans starting the virtues of massive Tax Cuts. I remember back even so far as 1987 when Reagan himself thought there should be Tax increases–We were talking about the Top 20% back then.
I will follow with this link. The Risk premium seems only transferred to the Government, and necessary reorganization of the financial sector can be put off as too expensive for those Banks which are Too-Big-To-Fail. The whole thing holds a stench of protecting the funds of the One-Percent Icons, who already seem to possess too much influence within the halls of Congress. I could honestly back a 10% Surtax on a Individuals possessing more than $1 billion in assets, and all Corporations or Businesses holding more than $10 billion in assets. I seriously do not think it would curtail long-term economic growth, while probably raising the Trickle-Down Effect of economic productivity by 2000%. It might even quadruple the Dividend Yield of most Corporate venture stocks.
It is a Saturday, and I am feeling particularly lazy, so will finish only with the Observation that no human program–whether economic, social, or individual–will ever exist which does not possess limits. This means that initial benefits are generally Low, Intermediate benefits are generally High, but continuation beyond a certain point leads to a declining scale of benefit. Plot on a Bell Curve would tell Us We are currently below the X-axis on the issue of Tax Cuts. I am the only one to believe this, but almost all factors in the economy express this datum. lgl
1 comment:
Missing the point L.
Humans redistribute in-group (homogenous societies) and resist monetary redistribution cross-group (heterogeneous societies). The majority of americans will not tolerate pursuit of income equality without social homogeneity. Otherwise they are not redistributing money, but their status signals and political power.
The math on this is simple.
Wishes to the contrary are just economic myopia. The native human economy trades status signals. And redistribution is a vehicle for reinforcing, not altering them.
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