Five Minutes With Paul Krugman; And A Minute With Me
I've heard a lot of good things about Paul Krugman that appear to be true. This is the first time I've read his perspective.
He seems to be facing in the right direction. But. let's examine what is really wrong with "[cutting] taxes on capital income, as opposed to earned income."
Capital income=money making money, a.k.a., INTEREST. Earned income=money earned from labor, a.k.a, blood and sweat.
This new tax break for capital gains is just another in a long line of economic policies that accelerates the job that INTEREST is designed to do: transfer wealth from those who have only labor and time to those who have access to more money through the formers' need for it.
This reduction in capital gains tax plugs one of the only mechanisms that threatens to slow that transfer down. If capital gains tax were allowed to stay in place, the interest they earned would just go to pay the interest they're charging!
INTEREST is the biggest hoover-matic money sucking machine the world has ever seen.