Corporate tax cuts are economic growth, which helps approval ratings.
Deficits are an easy way to please everyone by offloading austerity to the future.
So every government in all of human history has borrowed from the future, and have even curated their economists to push a message that deflation is dangerous and that debt needs to be monetized.
Then for some reason debt has exploded, crypto and risk stocks are completely disconnected from reality, and the bailouts get larger and larger.
On the other hand, austerity politics (aka “don’t spend money in order to reduce the national debt”) tend not to work, either, because they offload maintenance to the future. Repairing broken infrastructure costs more than keeping it from breaking in the first place.
I suppose you could just raise taxes but even with WWII-level tax ceilings it’s damn expensive to run a country.
Well dont forget you obviously need to cut taxes as well for economic growth, while you run these fat deficits maintaining this “critical infrastructure”.
I generally find that cutting taxes is more popular with the politicians who think that reducing the debt is more important than a functioning power grid and bridges that don’t collapse. Don’t ask me how the hell reducing tax income is supposed to help with the deficit but it’s probably built on the assumption that the kickbacks economic growth will make up for it.
Corporate tax cuts are economic growth, which helps approval ratings.
Deficits are an easy way to please everyone by offloading austerity to the future.
So every government in all of human history has borrowed from the future, and have even curated their economists to push a message that deflation is dangerous and that debt needs to be monetized.
Then for some reason debt has exploded, crypto and risk stocks are completely disconnected from reality, and the bailouts get larger and larger.
As someone who may’ve taken the extended family on a 20k holiday when crypto boomed pre-panda, I would certainly describe the experience as unreal.
“may’ve taken the extended family on a 20k holiday” So Disney for a day?
Why settle for Orlando/Anaheim when you can Quebec City? 🤷🏼♂️
That golden droplet ain’t money trickling down.
This in my view is the main cause of inequality, how could it not be when average people make a static salary while the money supply grows 8% a year?
Yup. Pretty much.
On the other hand, austerity politics (aka “don’t spend money in order to reduce the national debt”) tend not to work, either, because they offload maintenance to the future. Repairing broken infrastructure costs more than keeping it from breaking in the first place.
I suppose you could just raise taxes but even with WWII-level tax ceilings it’s damn expensive to run a country.
Well dont forget you obviously need to cut taxes as well for economic growth, while you run these fat deficits maintaining this “critical infrastructure”.
I generally find that cutting taxes is more popular with the politicians who think that reducing the debt is more important than a functioning power grid and bridges that don’t collapse. Don’t ask me how the hell reducing tax income is supposed to help with the deficit but it’s probably built on the assumption that the
kickbackseconomic growth will make up for it.