tag:blogger.com,1999:blog-2031117166106832786.post4133839777542588669..comments2012-01-31T08:39:51.274-08:00Comments on Moderately Rational: Taxes, Billionaires and the Actual DataDavid Holmeshttp://www.blogger.com/profile/11713435341102305865noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2031117166106832786.post-49153587007330443932011-10-13T14:43:36.828-07:002011-10-13T14:43:36.828-07:00rOy
Thanks for your comments!
Yes, we've not...rOy<br /><br />Thanks for your comments!<br /><br />Yes, we've not tried to analyze the effect of any current economic conditions, future trends or specific proposals on the position of the dollar as the general reserve currency for international trade or the domestic or other effects of any serious inflation, as took place in Weimar Germany.<br /><br />I personally would agree that much of the current discussion is focused on band-aids, such as how much, if anything, additional should be taxed of well-off folks. <br /><br />The more serious issue is achieving financial stability and we're a very long way from achieving that!.David Holmeshttps://www.blogger.com/profile/11713435341102305865noreply@blogger.comtag:blogger.com,1999:blog-2031117166106832786.post-49276435723931219762011-10-12T19:08:06.610-07:002011-10-12T19:08:06.610-07:00What I was hoping to convey (and do not think I di...What I was hoping to convey (and do not think I did) was: we're looking at the bandaid, and not the wound.<br /><br />Stabilization of the currency is paramount, or all this is for not. Think 5- or 20-years down the line! China and Russia are making some serious maneuvers that have potential to massively damage the USD and we're just arguing how to confiscate and redistribute wealth.r0yhttps://www.blogger.com/profile/04759179873976906837noreply@blogger.comtag:blogger.com,1999:blog-2031117166106832786.post-81212252870290474672011-10-12T19:04:53.533-07:002011-10-12T19:04:53.533-07:00The problem with a progressive tax is twofold. On...The problem with a progressive tax is twofold. One it's far too easy to manipulate it for power (see: last 100 years of U.S. tax code & politics), the other is: it punishes progress, ironically. That is, hard work and smart investing.<br /><br />Coupled with a fiat currency and fractional reserve banking, a progressive tax structure will always fail - it just takes time comparable to the economic size.<br /><br />The U.S. has been someone isolated and long-lived due to the whole "international currency of trade" (thank you WWII). Should the US Dollar come off the currency of trade (i.e. Oil, goods, etc) for the rest of the world, we'll QUICKLY see how much damage a progressive and manipulated tax code does when the true value of the fiat currency is out-pacing taxation.<br /><br />I don't think we'd like a Weimar economy.r0yhttps://www.blogger.com/profile/04759179873976906837noreply@blogger.com