Notable because it’s the Wall Street Journal saying this, not some left-of-center publication.
This post uses a gift link which turns into a non-gift link after 300 clicks. When it runs out, there is an archived copy of the article
Last week the WSJ was saying capital had too much control over productivity compared to labour.
They must be fearing the pitchforks
No faster way to close the Federal deficit than to collect taxes on billionaires.
Not that anyone really cares about the deficit. But it’s crazy to see how much money gets thrown away on vanity projects, while we pretend to pinch pennies at DOGE
“Pretend”, exactly. DOGE was about canceling investigations into Elon’s criminal activities, both personal and business, as well as stealing financial data from the treasury on all Americans. Financial data which is now leaked of course, due to sheer incompetence.
Cost reduction was always a flimsy cover for this operation.
I 'memba the Panama Papers.
Disappeared quicker than Epstein, and with even less penalties and prosecutions.
That did not have a lot of Americans in it because American billionaires don’t need to use shady overseas tax shelters; they’re able to keep their money in US accounts and evade the taxes.
Becoming
Ain’t no time like the present to stop pretending damage isn’t already being done constantly. Time for the mooch class to pay their share.
About 4 decades too late WSJ, welcome to the party i guess
Always has been. Always will be. Concentrations of private power will be used to increase the concentration of private power.
They don’t give a fuck, they just wanted some damage control after that rotisserie chicken bullshit the other day.
This was a problem 100 years ago. And has never stopped being one.
FDR had high enough taxes on the wealthy.
Imagine, there is a lack of money to pay for things unless we make the people hoarding money have to pay percentage of earnings the same as others.
Billionaires and multinational companies are the real welfare queens, not your average joe or the bum on the street.
The only way to meaningfully control inflation is via taxation. Changing interest rate doesn’t solve the real problem: there is just too much fucking money being printed.
There is exponentially more wealth in the system than there is currency printed to back it. That is not where the value of our economy comes from. Trade produces wealth, whether from labor or production. Currency just makes trade simpler.
Interest rates do indeed control inflation because high rates put people out of work. Its been done before.
See the massive tech layoffs over the past few years. Debt got too expensive.
That involved both interest rates and tax policy via changes to the R&D credit, so perhaps not an ideal example
In theory, yes. But the cheap interest is being used disproportionately by the rich, not for reinvestment, but for stock buybacks, high compensation, stock leveraged loans, and private equities to flip companies.
Not just in theory; we’ve seen interest rates used exactly that way several times.
You know what sucks is IF we ever get any taxes out of them. That politicians will take the bulk for military
