Huffpo reports on a Shiller interview:
He said he supports having a contingency plan in place now to raise taxes on the rich if inequality gets worse.
"The most important problem that we are facing now today, I think, is rising inequality in the United States and elsewhere in the world," Shiller said.Typical interventionist, for every problem created by government intervention, Shiller wants more intervention.
There is nothing per se wrong with inequality, but there is certain type of inequality which is the result of government intervention, which prevents newcomers from advancing, in order to protect from competition the crony elite connected to government.
This is the type of inequality that is dangerous and suffocates an economy. It is not resolved by "taxing the rich," it is resolved by removing government imposed barriers to success, so that even more become rich. Shiller is nothing but a pathological central planner.
This is why I don't bother trying to grow my business. I'll take profits today and f'k tomorrow. When taxes go past 50%, I'll shut my doors and retire with what I have. Simple as that. Sadly, the US is becoming more and more like a failed European state, where the American Dream will be to secure a government job. I really feel sick to my stomach with what my children face. Hopefully, I can get them all government jobs.
ReplyDeleteThe current monopoly fiat currency system is antithetical to capitalism. The lower classes cannot build wealth without the ability to store value and accumulate capital. However I think this may be the intent of the system that is imposed upon us. The current system exists as it does to keep those on top, on top. They get bailed out and those on bottom get zero percent interest rates, a devaluing currency, rising taxes and theoretical nonsense from shills like Shiller.
ReplyDeleteAmen Brother!
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