[kewp]

My idea for wealth distribution.

Every tax bracket gets a 10% (i.e., if you are paying 10%, now you pay 11%) increase, except the lowest one.

Everyone that files a tax return gets a quarterly bonus drawn from the 10% pool of income taxes of the bracket above them (except the uppermost bracket).

You can do whatever you want with the bonus, buy health insurance, eat fancy food, drink booze, invest it, give it to charity, whatever.

This accomplishes a couple things:

One: it gives an incentive for the lower classes to get at least one legit job so they can get the bonus check. It disincentives illegal labor and encourages payment of taxes.

Two: It leverages the free market to optimize social services. I can choose to buy whichever medical/dental plan I want with the bonus, for example.

Three: It improves the economy, by keeping wealth circulating domestically; as opposed to going overseas. The lower classes will tend to spend their bonuses pretty quickly.

[kewp]

My idea for wealth distribution.

Every tax bracket gets a 10% (i.e., if you are paying 10%, now you pay 11%) increase, except the lowest one.

Everyone that files a tax return gets a quarterly bonus drawn from the 10% pool of income taxes of the bracket above them (except the uppermost bracket).

You can do whatever you want with the bonus, buy health insurance, eat fancy food, drink booze, invest it, give it to charity, whatever.

This accomplishes a couple things:

One: it gives an incentive for the lower classes to get at least one legit job so they can get the bonus check. It disincentives illegal labor and encourages payment of taxes.

Two: It leverages the free market to optimize social services. I can choose to buy whichever medical/dental plan I want with the bonus, for example.

Three: It improves the economy, by keeping wealth circulating domestically; as opposed to going overseas. The lower classes will tend to spend their bonuses pretty quickly.

[kewp]

My idea for wealth distribution.

Every tax bracket gets a 10% (i.e., if you are paying 10%, now you pay 11%) increase, except the lowest one.

Everyone that files a tax return gets a quarterly bonus drawn from the 10% pool of income taxes of the bracket above them (except the uppermost bracket).

You can do whatever you want with the bonus, buy health insurance, eat fancy food, drink booze, invest it, give it to charity, whatever.

This accomplishes a couple things:

One: it gives an incentive for the lower classes to get at least one legit job so they can get the bonus check. It disincentives illegal labor and encourages payment of taxes.

Two: It leverages the free market to optimize social services. I can choose to buy whichever medical/dental plan I want with the bonus, for example.

Three: It improves the economy, by keeping wealth circulating domestically; as opposed to going overseas. The lower classes will tend to spend their bonuses pretty quickly.

[kewp]

My idea for wealth distribution.

Every tax bracket gets a 10% (i.e., if you are paying 10%, now you pay 11%) increase, except the lowest one.

Everyone that files a tax return gets a quarterly bonus drawn from the 10% pool of income taxes of the bracket above them (except the uppermost bracket).

You can do whatever you want with the bonus, buy health insurance, eat fancy food, drink booze, invest it, give it to charity, whatever.

This accomplishes a couple things:

One: it gives an incentive for the lower classes to get at least one legit job so they can get the bonus check. It disincentives illegal labor and encourages payment of taxes.

Two: It leverages the free market to optimize social services. I can choose to buy whichever medical/dental plan I want with the bonus, for example.

Three: It improves the economy, by keeping wealth circulating domestically; as opposed to going overseas. The lower classes will tend to spend their bonuses pretty quickly.

[kewp]

My idea for wealth distribution.

Every tax bracket gets a 10% (i.e., if you are paying 10%, now you pay 11%) increase, except the lowest one.

Everyone that files a tax return gets a quarterly bonus drawn from the 10% pool of income taxes of the bracket above them (except the uppermost bracket).

You can do whatever you want with the bonus, buy health insurance, eat fancy food, drink booze, invest it, give it to charity, whatever.

This accomplishes a couple things:

One: it gives an incentive for the lower classes to get at least one legit job so they can get the bonus check. It disincentives illegal labor and encourages payment of taxes.

Two: It leverages the free market to optimize social services. I can choose to buy whichever medical/dental plan I want with the bonus, for example.

Three: It improves the economy, by keeping wealth circulating domestically; as opposed to going overseas. The lower classes will tend to spend their bonuses pretty quickly.

[kewp]

Sounds mostly right; however I still don’t understand where the future inflation is supposed to come from.

We are experiencing debt deflation due to a credit bubble/inflation caused by excessively lax lending standards in the past.

There is a tremendous amount of liquidity sloshing around looking for a home, the best thing to do is let the market find its bottom and get people investing again.

[kewp]

Sounds mostly right; however I still don’t understand where the future inflation is supposed to come from.

We are experiencing debt deflation due to a credit bubble/inflation caused by excessively lax lending standards in the past.

There is a tremendous amount of liquidity sloshing around looking for a home, the best thing to do is let the market find its bottom and get people investing again.

[kewp]

Sounds mostly right; however I still don’t understand where the future inflation is supposed to come from.

We are experiencing debt deflation due to a credit bubble/inflation caused by excessively lax lending standards in the past.

There is a tremendous amount of liquidity sloshing around looking for a home, the best thing to do is let the market find its bottom and get people investing again.

[kewp]

Sounds mostly right; however I still don’t understand where the future inflation is supposed to come from.

We are experiencing debt deflation due to a credit bubble/inflation caused by excessively lax lending standards in the past.

There is a tremendous amount of liquidity sloshing around looking for a home, the best thing to do is let the market find its bottom and get people investing again.

[kewp]

Sounds mostly right; however I still don’t understand where the future inflation is supposed to come from.

We are experiencing debt deflation due to a credit bubble/inflation caused by excessively lax lending standards in the past.

There is a tremendous amount of liquidity sloshing around looking for a home, the best thing to do is let the market find its bottom and get people investing again.

[kewp]

kewp, what amounts to $500 billion? The total of writedowns, or the potential amount of tsunami flood back? I’m not sure what you mean, or where you are getting that figure from.

U.S. dollars in circulation outside the country.

http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html

Actually, it looks closer to 700 billion these days.

I don’t think Peter Schiff is totally wrong. He was obviously right about the housing bubble. But it looks like he put his clients money in the gold, oil and China bubble instead.

And just because he called the housing bubble (Stevie Wonder could have seen that coming); don’t think he got everything else spot on.

I keep hearing this talk of severe inflation, I just don’t see any evidence of it other than in hindsight (high housing prices). *Everything* is collapsing around the world. My ETF tracker doesn’t show a *single* long fund on the first page for the year. Every single one is short.

That is deflation personified.

And as long as the dollar stays strong and I keep my job, I’m fine with this.

Remember, my position is that the hyper-inflationary credit-bubble already happened. Its in the process of a deflationary collapse and will continue for years. All Bernanke can do is refill the banks coffers to replace bad loans. He can’t force the banks to lend and can’t make the consumers borrow.

He also can’t fix the credit score of all those FB’ers or wipe their bad debt and back taxes off the books.

The only way he could cause hyper-inflation would be if the Fed just started printing money and giving it out willy-nilly. I understand that may be the end-game for Helicopter Ben, but I remain skeptical.

[kewp]

kewp, what amounts to $500 billion? The total of writedowns, or the potential amount of tsunami flood back? I’m not sure what you mean, or where you are getting that figure from.

U.S. dollars in circulation outside the country.

http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html

Actually, it looks closer to 700 billion these days.

I don’t think Peter Schiff is totally wrong. He was obviously right about the housing bubble. But it looks like he put his clients money in the gold, oil and China bubble instead.

And just because he called the housing bubble (Stevie Wonder could have seen that coming); don’t think he got everything else spot on.

I keep hearing this talk of severe inflation, I just don’t see any evidence of it other than in hindsight (high housing prices). *Everything* is collapsing around the world. My ETF tracker doesn’t show a *single* long fund on the first page for the year. Every single one is short.

That is deflation personified.

And as long as the dollar stays strong and I keep my job, I’m fine with this.

Remember, my position is that the hyper-inflationary credit-bubble already happened. Its in the process of a deflationary collapse and will continue for years. All Bernanke can do is refill the banks coffers to replace bad loans. He can’t force the banks to lend and can’t make the consumers borrow.

He also can’t fix the credit score of all those FB’ers or wipe their bad debt and back taxes off the books.

The only way he could cause hyper-inflation would be if the Fed just started printing money and giving it out willy-nilly. I understand that may be the end-game for Helicopter Ben, but I remain skeptical.

[kewp]

kewp, what amounts to $500 billion? The total of writedowns, or the potential amount of tsunami flood back? I’m not sure what you mean, or where you are getting that figure from.

U.S. dollars in circulation outside the country.

http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html

Actually, it looks closer to 700 billion these days.

I don’t think Peter Schiff is totally wrong. He was obviously right about the housing bubble. But it looks like he put his clients money in the gold, oil and China bubble instead.

And just because he called the housing bubble (Stevie Wonder could have seen that coming); don’t think he got everything else spot on.

I keep hearing this talk of severe inflation, I just don’t see any evidence of it other than in hindsight (high housing prices). *Everything* is collapsing around the world. My ETF tracker doesn’t show a *single* long fund on the first page for the year. Every single one is short.

That is deflation personified.

And as long as the dollar stays strong and I keep my job, I’m fine with this.

Remember, my position is that the hyper-inflationary credit-bubble already happened. Its in the process of a deflationary collapse and will continue for years. All Bernanke can do is refill the banks coffers to replace bad loans. He can’t force the banks to lend and can’t make the consumers borrow.

He also can’t fix the credit score of all those FB’ers or wipe their bad debt and back taxes off the books.

The only way he could cause hyper-inflation would be if the Fed just started printing money and giving it out willy-nilly. I understand that may be the end-game for Helicopter Ben, but I remain skeptical.

[kewp]

kewp, what amounts to $500 billion? The total of writedowns, or the potential amount of tsunami flood back? I’m not sure what you mean, or where you are getting that figure from.

U.S. dollars in circulation outside the country.

http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html

Actually, it looks closer to 700 billion these days.

I don’t think Peter Schiff is totally wrong. He was obviously right about the housing bubble. But it looks like he put his clients money in the gold, oil and China bubble instead.

And just because he called the housing bubble (Stevie Wonder could have seen that coming); don’t think he got everything else spot on.

I keep hearing this talk of severe inflation, I just don’t see any evidence of it other than in hindsight (high housing prices). *Everything* is collapsing around the world. My ETF tracker doesn’t show a *single* long fund on the first page for the year. Every single one is short.

That is deflation personified.

And as long as the dollar stays strong and I keep my job, I’m fine with this.

Remember, my position is that the hyper-inflationary credit-bubble already happened. Its in the process of a deflationary collapse and will continue for years. All Bernanke can do is refill the banks coffers to replace bad loans. He can’t force the banks to lend and can’t make the consumers borrow.

He also can’t fix the credit score of all those FB’ers or wipe their bad debt and back taxes off the books.

The only way he could cause hyper-inflation would be if the Fed just started printing money and giving it out willy-nilly. I understand that may be the end-game for Helicopter Ben, but I remain skeptical.

[kewp]

kewp, what amounts to $500 billion? The total of writedowns, or the potential amount of tsunami flood back? I’m not sure what you mean, or where you are getting that figure from.

U.S. dollars in circulation outside the country.

http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html

Actually, it looks closer to 700 billion these days.

I don’t think Peter Schiff is totally wrong. He was obviously right about the housing bubble. But it looks like he put his clients money in the gold, oil and China bubble instead.

And just because he called the housing bubble (Stevie Wonder could have seen that coming); don’t think he got everything else spot on.

I keep hearing this talk of severe inflation, I just don’t see any evidence of it other than in hindsight (high housing prices). *Everything* is collapsing around the world. My ETF tracker doesn’t show a *single* long fund on the first page for the year. Every single one is short.

That is deflation personified.

And as long as the dollar stays strong and I keep my job, I’m fine with this.

Remember, my position is that the hyper-inflationary credit-bubble already happened. Its in the process of a deflationary collapse and will continue for years. All Bernanke can do is refill the banks coffers to replace bad loans. He can’t force the banks to lend and can’t make the consumers borrow.

He also can’t fix the credit score of all those FB’ers or wipe their bad debt and back taxes off the books.

The only way he could cause hyper-inflation would be if the Fed just started printing money and giving it out willy-nilly. I understand that may be the end-game for Helicopter Ben, but I remain skeptical.

[Author]

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