Our approach to taxation (as a nation) is like turning down a high-paying work-from-home job because it will cut into your video-gaming time. We can deal with Social Security and Medicare needs by raising the ceiling on payroll taxes; we can deal with the annual deficit by taxing the people with all of the income and wealth rather than letting them take "their" wealth and buy Treasury Bills and earn interest that we all pay with our taxes. But the wealthy will get upset and...build ballrooms? Move to Russia? Saudi Arabia? China? Actually all of this would be "try it, you'll like it."
~4:30 "Budget deficit is highest in postwar period except for Covid & Great Recession... deficits at the level that would only make sense at a moment of extreme economic distress - but we're NOT in extreme distress" - Exactly... we just spent like it by handing tax cuts to billionaires now & into the future! Kind of like a weird histamine reaction to corporations & millionaires longing for greater wealth. Our body politic seems to have become allergic to that. We panicked and threw money at them in the form of massive tax cuts! And it turns out, like in anaphylaxis, our deficits are now swelling out of control, the rest of us are having trouble breathing, and our whole economic system is suffering. If only we'd been inoculated against caring so much about the wealthiest, LOL (till I cry)
MAGA (there is no more GOP) economic policy is absurd. It's all based on their lack of any understanding of Economics. They view the field not as a science but as an ideological tool to gaslight and manipulate. Very few of their ideas are moored in reality and ALL of them are entirely focused on rewarding those w/ existing wealth and oligarchs/big biz specifically. These supply side/libertarian clowns are completely clueless and they desire to immunize themselves from the ever having to pay taxes. They assert only working people should be paying taxes. All taxes should be regressive and that is exactly what they have done.
The rest of their policy is the same autocratic/kleptocratic playbook and it isn't helping our economy either.
MAGA/GOP policy is failed policy. They have corrupted our government, destroyed our legal system, enabled rampant corruption in financial markets. They have simultaneously and unnecessarily ballooned our federal budget deficits. They have turned our government into a kleptocracy serving one man and his oligarchs.
Studies already show that autocrats bring this ruin. We shouldn't be surprised but we should vote them out.
Trump is arguably the king of bankruptcy w/ 6 bankruptcies in his past and another on the horizon. America, you should know better. The GOP is the party of irresponsible economic policy and they are teetering on financial disaster. They always rack up the debt while in office and then claim it needs to be address when they aren't in power while fingering the dems as the source.
The entire world isn't blind. They see America devolving into a corrupt autocratic/kleptocratic developing nation. They see MAGA attempting to gaslight them about what they are doing and they aren't as dumb as the average MAGA voter. It turns out failed MAGA policies based on greed and not science, don't work well. It also turns out corruption has consequences and we're seeing them.
Especially liked the sentence you singled out: "Studies already show that autocrats bring this ruin. We shouldn't be surprised but we should vote them out."
So let's see if I got this right. The US Treasury buys long term bonds with, I presume, general revenue, which is composed of about 30% borrowed money. Although Treasury is not the Fed, this buying of bonds increases the money supply, which is inflationary. So Treasury borrows money (the 30 aforementioned 30%) to buy back some debt, which inflates the currency, to get a short-lived decrease in long term interest rates. What geniuses!
Interesting relationship between the bond market and stocks. Sentiment around government borrowing is souring, while everyone has a rosy corporate outlook. With corporations living high on government contracts, isn’t this just circular borrowing?? A return to normalized corporate income tax rates is the only solution if they want to continue walking the tight rope of ‘capitalism’. If they think they got a sweeter deal elsewhere — don’t let the door hit ya!
So, if I understand this right, the market is looking at Bessent’s move and decided after a sleepless night that maybe they should take a page from what many judges have decided and toss out their “assumption of regularity.” Yeah? The market is wavering on trusting this administration’s treasury department? Feeling uncertain about what Bessent’s up to (and watching him closely?)
Our approach to taxation (as a nation) is like turning down a high-paying work-from-home job because it will cut into your video-gaming time. We can deal with Social Security and Medicare needs by raising the ceiling on payroll taxes; we can deal with the annual deficit by taxing the people with all of the income and wealth rather than letting them take "their" wealth and buy Treasury Bills and earn interest that we all pay with our taxes. But the wealthy will get upset and...build ballrooms? Move to Russia? Saudi Arabia? China? Actually all of this would be "try it, you'll like it."
~4:30 "Budget deficit is highest in postwar period except for Covid & Great Recession... deficits at the level that would only make sense at a moment of extreme economic distress - but we're NOT in extreme distress" - Exactly... we just spent like it by handing tax cuts to billionaires now & into the future! Kind of like a weird histamine reaction to corporations & millionaires longing for greater wealth. Our body politic seems to have become allergic to that. We panicked and threw money at them in the form of massive tax cuts! And it turns out, like in anaphylaxis, our deficits are now swelling out of control, the rest of us are having trouble breathing, and our whole economic system is suffering. If only we'd been inoculated against caring so much about the wealthiest, LOL (till I cry)
MAGA (there is no more GOP) economic policy is absurd. It's all based on their lack of any understanding of Economics. They view the field not as a science but as an ideological tool to gaslight and manipulate. Very few of their ideas are moored in reality and ALL of them are entirely focused on rewarding those w/ existing wealth and oligarchs/big biz specifically. These supply side/libertarian clowns are completely clueless and they desire to immunize themselves from the ever having to pay taxes. They assert only working people should be paying taxes. All taxes should be regressive and that is exactly what they have done.
The rest of their policy is the same autocratic/kleptocratic playbook and it isn't helping our economy either.
MAGA/GOP policy is failed policy. They have corrupted our government, destroyed our legal system, enabled rampant corruption in financial markets. They have simultaneously and unnecessarily ballooned our federal budget deficits. They have turned our government into a kleptocracy serving one man and his oligarchs.
Studies already show that autocrats bring this ruin. We shouldn't be surprised but we should vote them out.
Trump is arguably the king of bankruptcy w/ 6 bankruptcies in his past and another on the horizon. America, you should know better. The GOP is the party of irresponsible economic policy and they are teetering on financial disaster. They always rack up the debt while in office and then claim it needs to be address when they aren't in power while fingering the dems as the source.
The entire world isn't blind. They see America devolving into a corrupt autocratic/kleptocratic developing nation. They see MAGA attempting to gaslight them about what they are doing and they aren't as dumb as the average MAGA voter. It turns out failed MAGA policies based on greed and not science, don't work well. It also turns out corruption has consequences and we're seeing them.
Especially liked the sentence you singled out: "Studies already show that autocrats bring this ruin. We shouldn't be surprised but we should vote them out."
So let's see if I got this right. The US Treasury buys long term bonds with, I presume, general revenue, which is composed of about 30% borrowed money. Although Treasury is not the Fed, this buying of bonds increases the money supply, which is inflationary. So Treasury borrows money (the 30 aforementioned 30%) to buy back some debt, which inflates the currency, to get a short-lived decrease in long term interest rates. What geniuses!
Interesting relationship between the bond market and stocks. Sentiment around government borrowing is souring, while everyone has a rosy corporate outlook. With corporations living high on government contracts, isn’t this just circular borrowing?? A return to normalized corporate income tax rates is the only solution if they want to continue walking the tight rope of ‘capitalism’. If they think they got a sweeter deal elsewhere — don’t let the door hit ya!
So, if I understand this right, the market is looking at Bessent’s move and decided after a sleepless night that maybe they should take a page from what many judges have decided and toss out their “assumption of regularity.” Yeah? The market is wavering on trusting this administration’s treasury department? Feeling uncertain about what Bessent’s up to (and watching him closely?)