Lefties trying to understand Smaug
(media.kotakuinaction2.win)
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (61)
sorted by:
That sounds like a great opportunity.
Not that I support it, because I don't think it's good policy, even though it does hurt billionaires.
Yeah, it's not exactly unlikely. And I think that many on the left are economically illiterate. That said, the right calling billionaires 'job-creators' and decent people is also cringe. It is possible to oppose counterproductive policies without praising them.
That was the cancer that was introduced into politics by the French Revolution: the belief in forcing through social and historical development through violence and terror.
Interesting, because the GOP has always attacked the estate tax. But does this not replicate your earlier concern? Imagine if Elon owns 70% of Tesla and then drops dead. If the government seizes it and then sells it, wouldn't it cause Tesla to crash and burn?
Yes because rich old donors literally paid them to. I don't think the same dynamic exists now because the issues have shifted so much. Republicans have to contend with populism now, and death taxes only affect the rich. R donors have much bigger problems to worry about than death taxes.
That said, I don't expect any legislation on death taxes. One of the problems with death taxes is that unless you're a communist, it doesn't produce revenues immediately. You need to wait. Congress is likely to assfuck our economy & debt to the point where they need to raise taxes in an emergency fashion.
No because the Fed already has trillions in stock on its books & buys & sells them. The Government would not have to sell any stock immediately. It could slowly sell it off over time.
Since people don't all die at once, the government liquidating assets from death taxes would be a trickle, instead of a tsunami hitting all at once.
Ah, well, as much as I like to call you a GOP partisan, you dissent from the GOP elite on some important points - for the better.
The good thing about death taxes is that it deprives billionaires. The bad thing about them is that it gives money to the government.
It doesn't matter how much money the government sucks up - it's always looking for more. I know this from personal experience. Countries that raised the age of retirement just threw the savings into 'climate change' idiocy.
I'm not an 'End the Fed' kind of guy, but I was very shocked when I discovered that the Fed buys stocks. How much of the current economy is just a bubble?
GOP is going to need to be a hybrid populist party in order to win. Trump changed that. The Democrats are now a very elitist party, so their populist flank is very open to attack. DeSantis knows this & has been exploiting that in Florida.
This is what "quantitative easing" has always been. The Fed just prints money then uses that money to buy securities like stocks & bonds.
This is one of the main drivers of inflation. The other being just raw government spending of additional trillions.
I agree, though I think the power of campaign contributions (i.e., bribes) will prevent the GOP from doing what it has to do to be a viable party.
Amazing how it took 11 years for me to figure out what QE is precisely. I knew it was pumping money into the economy, but I thought it worked through interest rates - by lowering them and allowing the creation of more money.