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The US gov't debt machine is truly out of control. The US (lhs) runs a budget deficit that's more than twice as big as Canada, Euro zone, Japan & UK combined (rhs). More important, the US – unlike everyone else – funds all this with very short-term debt (red). What are we doing? pic.twitter.com/JlbgJpF4Yy
— Robin Brooks (@robin_j_brooks) March 29, 2024
Then why the war on saving? Proposed wealth taxes, increased capital gains taxes, inheritance taxes, getting rid of Prop. 13 in California, and most importantly inflation all punish saving. There’s even a proposal to tax capital gains when securities and property is transferred upon death, instead of resetting the basis upon the transfer. The government wants you dependent on Social Security, which is really inefficient, but funds deficit spending.
Speaking of the middle class…..
Elizabeth Warren says her wealth tax will "rebuild America's middle class." Amusingly enough, that's true! The reason the middle class has been shrinking is not because more people are becoming poor, but because more are becoming rich. Her tax will reverse that trend. pic.twitter.com/WJnp4YQRvv
— Paul Graham (@paulg) March 26, 2024
Still, inflation has eroded the middle class in America. There’s no choice but debt for most risk averse families.
Government expenditures are now about 25% of GDP, a non-WW high. Without debt financed growth in G (government expenditures for non-economists), the economy would not be growing. But we’re more politicized than ever. Why? Because when the government becomes the most important part of the economy, each fight over who controls the government becomes that much more important. And when the politicians see citizens as revenue streams rather than customers, there’s no end to what the state is owed.
60 Minutes interviewed @katestarbird for their show on misinformation last night.
Kate works at the University of Washington and for a misinformation research group that helped censor Americans during the 2020 election.
In this interview she whined that old Twitter “only”… pic.twitter.com/CaoW9SPTi8
— Paul A. Szypula 🇺🇸 (@Bubblebathgirl) March 25, 2024
Watching a democracy blossom into life always brings a tear to the eye pic.twitter.com/sPMjksJ2Lz
— Tom Elliott (@tomselliott) March 17, 2024
As I suspected. The president is literally slandering a candy bar. Official statement given to me by the Mars/Snickers people. Will literally slander anything and anyone. Total hack. pic.twitter.com/6DiJ1Ld6EH
— Scott Jennings (@ScottJenningsKY) March 9, 2024
Susan Shelley: Proposition 1 is an expensive scam that must be rejected on March 5
More on behests and Gavin Newsom maxing out the grift.
https://x.com/Susan_Shelley/status/1764536538397114804
Maybe, but not in the way you think….
Low turnout primary. Schiff has tons of money. He’s really arrogant, though. I don’t know who is running the PAC attack ad against Garvey, but they have the messaging wrong. Yes, Garvey votes for Trump twice. But his “scare quotes” are: “We were safer under Trump,” (true), and that he wants to build the wall, which is getting more and more popular, even in California.
Prof. Fryer had his career derailed / was suspended from his lab by…. Claudine Gay.
https://www.karlstack.com/p/the-curious-case-of-claudine-gay
https://news.fairforall.org/p/roland-fryer-harvard
Not only police shootings, but his work on closing the racial achievement gap in Harlem and Houston challenged the idea that it is socio-economic conditions that prevent kids from learning / achievement. It also required hiring teachers with the right mindset….
He’s a pure academic (and a Democrat). But he believes in the data and making sure our policies address actual problems, and create real solutions. That’s what makes him dangerous to people like Prof. Gay.
Doesn’t matter. People will still vote Democrat once the fear mongering kicks in. The economy was worse in 2022, and the red wave fizzled.
This is an absolutely insane story, which I hope you'll all read. The chaos in our streets is not an accident. It's been purchased — by you. https://t.co/XR1EIe5rIF
— Mike Solana (@micsolana) January 27, 2024
