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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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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keccers
@keccers.eth
Both the rich and the poor alike view the government as their personal piggy bank 🫣 Fraud plentiful on both ends
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