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View Diary: The rich don't spend tax cuts (117 comments)

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  •  Tax cuts are code. (1+ / 0-)
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    Vicky

    To understand the code, you have to remember that conservatives work by indirection.  That is, they do one thing to make another (the opposite) happen.  They do this because they are convinced that there are always two and only two options for everything.

    To make a long story long, money that public corporations collect and spend on public works constitute a two-sided process which leaves out a crucial element -- the middle man.  The middle is where the conservative money man likes to sit and collect a cut of the money that passes back and forth between public and corporation.  In other words, the money men are looking for a "cut" they don't get when our public corporations simply collect and spend.  The money men prefer "lend and spend." The way to achieve that is to constrict the collection -- i.e. reduce tax revenues.  This has the long term effect of causing public assets to deteriorate, because of poor maintenance and upkeep, to the point where they have to be replaced.  And that's where the money men get their cut.  The public corporations issue bonds to borrow money the money men haven't paid in taxes and then, as the interest trickles into their accounts, they get another bonus because government bonds are exempt from the income tax.  It's a triple treat.  It's also a prescription for transferring public assets into private wealth, automatically.

    The Constitution is not a menu for an exclusive diner.

    by hannah on Thu Sep 16, 2010 at 09:20:44 AM PDT

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