Ayatollah Ted Wants To Trickle-Down More Billions for Billionaires!

“What are you wearing?”

So this scrolled across my timeline:

And if you click on the tweet’s link you will read a remarkable letter written by Ayatollah Ted Cruz, the senator from Texastan (and signed by 20 or so of his best friends, haha, he has none!), in which he urges the Worst. Bond. Villain. Ever Steve Mnuchin to use his authority to index capital gains to inflation, which would benefit the über-rich. (Changing the rules would require no legislation, btw. Tax cuts without a vote!)

Ted insists that the Living Typo must adjust capital gains for inflation “so that everyday Americans can continue to enjoy better lives and livelihoods.”  And by everyday Americans, he does not mean filthy socialists like us, but hedge fund managers and the assorted Devosi (is too a wurd), Koch Brothers, etc.

Cruz then sings a GOP greatest hit:

“[Changing how capital gains are taxed] would…unlock capital for investment, increase wages, create new jobs, and grow the economy, benefiting Americans across all income levels.”

Yup. He’s giving his idea the aura of Saint Ronnie’s trickle-down economics which —[checks notes] —has yet to work even after 40 years of repeated attempts.

 

 

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7 Responses to Ayatollah Ted Wants To Trickle-Down More Billions for Billionaires!

  1. R White says:

    [Changing how capital gains are taxed] would…unlock capital for investmentfor stock buybacks, increasedepress wages (be thankful you have a jerb, pleb), create low-paying jobs, while growing the economy on paper, benefiting white Americans at the highest income levels.

    Forty-plus years of supply-side economic policies that have never worked and it’s obvious the inbred wealthy have given their orders to raphael and his morally bankrupt fiends to steal whatever is left in the treasury before the poors demand more stuff. However, since fat nixon just honored Art Laffer with a now-worthless presidential medal for his economic hackery, the worthless beltway media will decry how such thievery will work this time and be rewarding for all.

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    • R White says:

      Um, sorry about the formatting. some of the html coding didn’t work as I thought it would.

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    • tengrain says:

      R White – I also suspect that they realize that we are heading to inflationland, which would make their piles of cash meaningless (and kill the rest of us with $100 loafs of bread). This is really craven.

      Rgds,

      TG

      Liked by 1 person

      • We’re not “heading to inflationland”.

        Inflation in a modern economy such as the US’s does not experience inflation the way, say Zimbabwe did, from simply printing more and more Ameros. In the US it’s historically (and by historically I mean in the 20th century) by getting two things: full employment and a growing demand for goods and services. Basically full employment + increasing demand == the peons demanding more pay.

        Since the 70’s the ONLY mission of the Fed has been to kill inflation at any cost by creating a recession whenever the possibility of workers gaining any material advantage rears it’s ugly head.

        They don’t CALL it that, of course, but that plus the OPEC oil shocks are largely what fueled the huge inflation of the late 60’s & 70’s.

        We’ve had 40 years of concentrated anti-labor governments (both R & D) , a free trade policy that made stuff cheaper by gutting the worker class in the US (US manufacturing output has never been higher largely due to automation; it’s only the hyoo-mans who have suffered) and creating a local working economy almost entirely in the service sector. That equates to lower pay, less secure jobs, etc. Who can ask for better pay thses days? Starbucks will always find someone else with huge cikkege loans to work at what they’re paying you and you can go starve.

        The PTB helped hide this by making cheap credit readily available to the masses, so we managed to sorta-kinda feel like we weren’t getting royally shafted because we could get our big-screen teevees cheap at Walmart on credit.

        That lead directly to the Great Depression 2 (and fuck the economists, it’s not a “recession” not when we’re still feeling the effects a decade later)

        We’re headed to serfland, when the new conservative SCOTUS abolishes the 20th century and large parts of the 19th, and we get canned rat and poison labeled as Medicine and Food, where bosses get to pay us in Libras and whatever stupid fake money Amazon comes up with (I mean ‘company scrip’).

        It’ll eventually blow up in their stupid faces, but it will be long, and bloody and in the face of the actual existential crisis posed by global warming, quite probably the end of humanity as a species.

        Liked by 2 people

  2. Dennis Cole says:

    I was recently banned from my local library for moving all the books about Laffer, trickle-down theory, etc. from the Economics section to Mythology.

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