Daily Archives: November 24, 2017

Big CEOs’ Thanksgiving Tax Feast

Inequality.org has an article about the video Big CEOs’ Thanksgiving Tax Feast.

The trouble with this video (not the article) is that it does not explain why tax cuts won’t produce more jobs at higher wages. I’d like to ask the people who think that tax cuts for corporations will stimulate the economy, why do they think that a company that is sitting on lots of cash because they can’t find anything worth investing in will suddenly decide to invest if they have more cash? If companies can’t find customers for what they can already produce, why would they think they could make money by producing more? Corporations are doing fine boosting their profits by cutting production and cutting wages. If they don’t sit on the cash they accumulate, they use it to buy up the competition so that they have more power to keep prices up in the face of falling demand. Monopoly power has never been good for the consumer no matter what Robert Bork wrote in his book “The Antitrust Paradox”.

George Soros’s $18 Billion Tax Shelter

The Wall Street Journal has the article George Soros’s $18 Billion Tax Shelter.

But others, including Mr. Soros and Michael Bloomberg, have turned private foundations into massive de facto lobbying operations for bigger government and liberal causes like higher minimum wages, gun control, universal health care, and a carbon tax. Mr. Soros’s $18 billion gift alone is the equivalent of maybe 100 Heritage Foundations. This kind of weaponized philanthropy has the potential to undermine the American free enterprise system.

What a nasty man that George Soros is.

The biography of the article’s author is the following:

Mr. Moore is an economic consultant with FreedomWorks and a founder of the Committee to Unleash Prosperity. He was a senior economic adviser to the Trump campaign.

I am glad we have these right wingnuts to expose those nasty liberals.

Seriously, though, the ability to make huge capital gains profits which will never be taxed is a distortion of our economy that needs to be addressed