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To: Kaslin

The more money you make, the easier it becomes to make more money still.

We need a more progressive income tax because we are losing our freedom to a kind of economic feudalism.


10 posted on 05/04/2014 11:32:37 AM PDT by Age of Reason
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To: Age of Reason
The more money you make, the easier it becomes to make more money still. We need a more progressive income tax because we are losing our freedom to a kind of economic feudalism.

Non-sequiturs. You start with a semi-truism, certainly an experienced successful investor is going to be presented with better investment opportunities both from their experience and others who are banking on them succeeding again. Next you state a conclusion: "we need a more progressive income tax" that does not follow from the truism unless you merely want to punish success. But then you come up with new rationale "we are losing our freedom".

Loss of what freedom? And how does that justify a more progressive income tax. Finally you explain that freedom is being lost due a kind of economic feudalism. Now finally after the socialist blather there is a germ of original thought in your writing. Better late than never I suppose.

Yes there is a kind of economic feudalism. It is created by politicians and realized mainly through the Fed. The Fed prints up money and hands it to the politicians who hand it out to the politically connected: construction firms to build new spy agency buildings filled with fancy equipment and good-looking contractors. They hand it out to politically connected scams like "green" energy or anything else green related. Mostly the Fed props up large banks which props up the market but mainly for short term momentum plays that contribute little to economic growth. The politicians also control the economy with the highest corporate tax rate in the world combined with politically motivated cuts to that rate for favored industries.

The answer to that kind of economic feudalism is to slash the corporate income tax and generally reduce politicians ability to rig the markets. Getting rid of the Fed would be difficult and may result in more politically generated monetary problems. But certainly the Fed should not be allowed to print money and hand it to politicians to give mainly to the already wealthy.

30 posted on 05/04/2014 3:36:28 PM PDT by palmer (There's someone in my lead but it's not me)
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