My perspective is power and control based. If Trump’s goal is to shift to an oligarchy more in line with Putin’s Russia with strong authoritarian government and the economy controlled by a handful of cronies they will need to break the American economy. Wealth is lopsided at the top in America but we aren’t at Russian oligarchy levels.
https://www.statista.com/chart/27025/billionaires-wealth-gdp-ratio/
Yet, billionaire wealth compared to GDP in Russia was still higher as of March 10 than in the U.S., Canada and several European countries. Looking back at February 23, when billionaire wealth still stood at almost 21 percent of Russian GDP, shows how extraordinary the position of the Russian ultra-wealthy class really is.
According to The Economist, approximately 85 percent of Russian billionaire wealth can be attributed to the so-called crony sector, where business and political power players work together to share profits and favors. Russian President Vladimir Putin has been known to use this class of the loyal and influential to cement his power for years. Out of the country’s richest mentioned on the Bloomberg Billionaires Index, Gennady Timchenko of investment firm Volga Group appeares on the UK sanctions list, while Petr Aven of ABH Holdings, Mikhail Fridman of Alfa Group and Alisher Usmanov of Metalloinvest are being sanctioned by the EU.
The U.S. also exhibits an extraordinarily high billionaire wealth of between 14-15 percent of GDP. But despite the fact that the United States is home to around 35 percent of all the billionaires listed on the Bloomberg index, including the top 9 individuals with net worths between $95 billion and $221 billion, Russian billionaires are still richer in comparison to their country’s economic output.
If the goal is the concentration of wealth with a select few what is the best tax and monetary policy to achieve that even if it damages the overall economy?
Trump was campaigning proposing the elimination of income tax. It seems he wants tariffs to replace income tax.
Cut taxes at the top and corps
Cut spending on social programs
Then its basically a huge transfer of income and wealth from the working folks to the very wealthy.
I suspect this is their plan. They also know they will only get one solid shot at doing this (as they can get punted in the mid-terms)
So my expectation is big corp tax cut, capital gains cut, and they make the older Trump tax cuts permanent.
Then they take a chisel to social programs on the spending side.
You will still see a lot of debt and high debt repayments this way, which would damage the US economy (the debt service payments would crowd out other public spending) and cause inflation.
OK, it is a sales tax on foreign goods. Fucks the lower class a lot, as they rely on cheap imported goods to exist more so than the upper classes
As I always recommend: a slow transfer, over 20 years or so, from income to sales taxes of all kinds, with a large “rebate” for each American citizen. Jolts fuck the lower classes, as the upper class rearranges their assets to make more money caused by the jolt.
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Smoothing is always your friend.
Ahh, I now understand why FBI has to go. They are not giving security clearances to the Trumpists.
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And they “illegally” raided Mar-a-lardo and it’s perfect bathorrom
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FAR easier to administer a flat tax. An awful tax system, but simpler.
And…Trump put Kennedy in Health.
He is just trolling at this point.
Are you sure you guys want to continue with this?
Its like he is lining up the US for national suicide.
Honestly, I think project 2025 is being implemented as we look on.
Is that a surprise? Or perhaps you think there is an alternative to looking on.
The maga side did Jan 6 for no real threat at all. It has been said in another thread that Harris is worse for USA than Trump. Is anyone unable to see that any cabinet Harris would have picked would have been better than what we have seen so far. Any!
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Same as he does in life: presses until he feels resistance. In business, in teenage girls, in porn stars,…
This time it’s “Whaddaya gonn do 'bout it?” And the small minority of GOP resistors will meet an untimely end in the next primaries. They will figure out what is best for them to do.
And you know I’m terrified of clowns :shudders:
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Musk gave DOGE a gray checkmark, indicating it’s an official government agency. DOGE is only accepting resumes via Twitter DM, and only from those who pay him a monthly subscription
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Sounds like you don’t want to lose this deal!
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Nah, he doesn’t have a cent from me directly for anything.
I was wondering how soon they will want 80 hour weeks in govt as part of the cost cutting.
