keccers
@keccers.eth
Looking at the Big Beautiful Bill its hard not to feel disgusted I can be convinced we need to cut entitlements; we are too low trust of a country and too broke to be generous But taking away entitlements and reducing poor peoples income while increasing the deficit and increasing the income of the wealthy? What is the pro case for this? Are we assuming trickle down? https://equitablegrowth.org/congressional-republicans-budget-bill-is-the-most-regressive-in-at-least-40-years/ https://budgetlab.yale.edu/research/distributional-effects-selected-provisions-house-reconciliation-bill-preliminaryc
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keccers
@keccers.eth
The lowest tier of income is so dependent it’s hard for me to fully understand what’s going on there….. My broader point: no tax cuts for any income bracket are defensible at this time, especially when paired with cutting entitlements etc
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zoo
@zoo
they always assume trickle down
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Nounish Prof ⌐◧-◧🎩
@nounishprof
trickle down never happens — voodoo economics
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Spaceman Spiff 🎩🍖
@spaceman-spiff
Was reading some tweets on macro from @aridavidpaul today and this was his take on where our government is in the cycle: "Late stage capitalism is marked by growing financial nihilism. In general sentiment, people become distrustful of the value of long-term plans and long-term investment and seek to “get rich quick.” Getting 5% on bonds starts looking foolish, it feels like “everyone” is getting rich in crypto or speculating on beanie baby type colkectibles. And governments have typically been accumulating debt over time, such that debt to GDP ratios reach all time highs and keep growing faster. Politicians and powerful capitalists increasingly turn “kleptocrat” and look to loot government coffers quickly. " reference tweet: https://x.com/AriDavidPaul/status/1937853257600074065
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Metaphorical
@hyp
They’ve given up on PR. Nobody really out there talking benefits for voters. Seems like they are just doing what they want for their frens and donors and assume elections no longer matter.
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rileybeans
@rileybeans
they don't know what the fuck they're doing
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