[quote=patb][quote=mike92104][quote=BigGovernmentIsGood]The only true remedy to deflation is to tax wealth and to have a very high estate tax. This will allow for redistribution of wealth from the upper classes who are hoarding it to the lower, more productive classes who will spend and invest it.[/quote]
There’s an idea! Communism will fix it![/quote]
Republican capitalism got us in this fix, and you
want to keep it up?[/quote]
I am keenly disappointed. This is not Piggs-worthy discourse
Actually, I have nothing against trying to enforce existing tax laws, and perhaps taking away one or two of the tax loopholes that the very wealthy enjoy. However, wholesale redistribution of wealth doesn’t do it for me (and not because I’m wealthy).
I am curious as to what you mean when you say “more productive” in referring to, quote, lower classes. Actually, I’d also like to know what income range are we speaking of here.
In reality, there were millions of lower middle class Americans that earned more wealth than they ever thought possible during the late 90s and early 2000s. I saw a lot of Mercedeses, Cadillacs, and ultra-loaded luxury trucks, and quite a few good-sized boats, plenty of plasma TVs and home theater systems, and kids and adults alike in expensive designer clothes, all paid for with the wealth that people took out of their homes. Is this what constitutes “investment”? Because it didn’t work. And you have a lot of embittered people who are pissed that their homes are worth half of what they owe on them, and acting like they had no part in it.
Sorry, but I’m not seeing any evidence that these people know anything about “investing”.
