Links for 9/24/19

Links for 9/24/19
Trump will be told to leave once the McGahn testimony starts costing Senators their donations. Indeed, it could come sooner. They who pay the piper call the tune.

Inequality in power is the problem. Much higher marginal income taxes and employee ownership can control that. Also robust asset and invoice value added taxes, which would be impossible to evade. If the rich pay an income tax and their companies pay a subtraction VAT with credits rather than deductions, then buy assets and goods with "post tax" money (including paying for consumption with proceeds from asset sales and dividends already taxed), their burden gets much higher.

The question is making the rich want to pay more. Actual public debt liability is 13 times income tax paid. This works out to $3 Trillion owed by the top 0.1% (using 2016 figures), $3.5T for the next 0.9%, $6T for the next 9%, $5T for the next 40%. The bottom 50% owe less than $1T and those who have no income tax burden owe NOTHING! The children or the top 10% owe almost EVERYTHING! Of course, much of their wealth is paper if you take away the power the paper buys. See above.

Larry Summers did more to cause and prolong the Great Recession than even Bush and Greenspan. The quicker way out would have been marking all mortgages held by the Fed to market. This would have restarted housing and simply would have reduced M3. Iowa does not care who Larry supports and he will never work in this town again.

The Register is EWTN. No one cares what they say outside their readership (or what Burke says).