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View Diary: Wealthy ready to sacrifice for their country (111 comments)

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  •  Good post, blue aardvark (4+ / 0-)
    Recommended by:
    DBunn, Calamity Jean, blue aardvark, Siri

    My take is this:

    -- Most of the very well off know that if we raise taxes, the dollar will be on a stronger footing, the country will be better off, and they will make more money as a result.

    In fact, if we continue the tax cuts for the rich, the rich will lose more than they gain, because the borrowing costs from the Chinese, Saudis etc will go up, triggering higher interest rates, runaway inflation, and a really bad time for the USA.

    I have no idea why the timid Dems don't bring up this argument.

    I think I understand why the media don't do so, they have been so dumbed down that they cannot even look out for their own interests as high net worth individuals.

    That's why I get my news from the Internet. Mainstream media is worse than useless, they are corrosive.

    •  If you are rich you want the USA to do well (5+ / 0-)

      If you are uber-rich you don't care, as your capital can be moved from country to country freely.

      In theory, there is no difference between theory and practice; but in practice, there always is a difference. - Yogi Berra

      by blue aardvark on Mon Sep 27, 2010 at 08:26:36 AM PDT

      [ Parent ]

      •  People forget that that voting base out there (1+ / 0-)
        Recommended by:
        blue aardvark

        possesses common sense and decency when it has the information to work on. That common sense and decency seems to be waking up, before the election, and doing the good things it does, of which this is an example, instead of being buried in social issue and bigotry red herrings, a possibly unintended consequence of Rs initially trying to run not on those as their core this year but on economics. Every last person knows you get rid of your debt/deficit, by paying it.

        •  The counterintuitive nature (0+ / 0-)

          of economics is actually a problem here.  Everyone knows you get rid of your debt by paying it... unfortunately that's not always the right thing for the money-printing government to do, which is why Keynesianism is so difficult to explain to people.

          -5.63, -8.10. Learn about Duverger's Law.

          by neroden on Tue Sep 28, 2010 at 12:22:15 AM PDT

          [ Parent ]

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