If I hear another lecture from Fred Smith and his fellow billionaires on trickle-down tax cuts and the “benefits to the United States economy, especially lower and middle class wage earners”, I’m going to lose it.
If I hear another lecture from Jay Powell and his fellow centimillionaires and decamillionaires at the Fed on trickle-down monetary policy and the “benefits to the United States economy, especially lower and middle class wage earners”, I’m going to lose it.
OK, boomer.
What’s the boomer world?
It’s a world where our current President is an on-the-make billionaire, and our most recent former President seems hell-bent on becoming one. A world where lawyers from Citadel write our securities regulations, and VPs from Boeing run our Defense Dept. A world where corporate managers can become billionaires – not by innovation or risk-taking – but by stock-based comp at scale. A world where asset managers can become billionaires – not by invention or outperformance – but by asset-gathering at scale.
It’s a world that has been systematically hollowed out for decades, through
- narrative capture of monetary policy,
- trade policy,
- antitrust law,
- mass media and the
- tax code.
“Yay, trickle-down economics!”
It’s a bipartisan thing. It’s a Zeitgeist thing.
And the 2017 Tax Cuts and (LOL) Jobs Act was just the latest smiley-face punch in the gut.
Worried about losing your freedom to a redistributive State? I think you’ve already lost it.
Just not in the direction you thought.