Hudson: the Catfood Index

[don]

Obama’s Catfood Reform

[DSpencer]

Re: Hudson: the Catfood Index

Nobody complained at all about the government printing $13 trillion dollars? Nobody complains about military spending? Social security and medical care are a small part of the budget?

What is he talking about?

[don]

Re: Hudson: the Catfood Index

12 April 2013

Michael Hudson: Obama's Cat Food Social Security Budget Strategy and Stealth Tax Increases


What some of the 'conservatives' have figured out is that 'chained CPI' is also a threat to those who rely on incomes.

The chained CPI would also apply to the income tax brackets, to adjust for 'inflation creep.'

By seriously understating inflation, the chained CPI would also result in steady, hidden tax increases on non-privileged income by allowing inflation to push income levels higher without adjusting tax brackets.

Remember how the AMT was originally pitched as a way of forcing the wealthy to pay taxes despite loopholes, and instead became a snare for the middle class?

It's a win-win for the crony capitalists. Less money for the elderly, and more income taxes from their working children.

And the oligarchs maintain a tight control on any investment opportunities and returns, driving savings where they like using the power of their exchanges and the Federal Reserve. And it is easy to game when you are included in a stream of privileged information and dark pools of trading.

Jessie's Cafe Americain