Thursday, October 31, 2013

Pimco's Gross urges 'privileged 1 percent' to pay more tax


Story at Reuters.

Bill Gross, manager of the world's largest bond fund, urged fellow members of the "privileged 1 percent," earning the highest incomes, to support higher U.S. taxes on carried interest and capital gains to help the economy. 
Gross, who acknowledged he was among the 1 percent, noted he is writing investment letters that "'dis' the success that provided me the soapbox in the first place." He said that increasing taxes could improve the U.S. competitive position compared with Germany and Canada.

Hey Gross, I'll make it easier for you guys to directly "help the economy" via your idea that somehow, increased transfers of USD balances from the non-government to the government is going to help.

You and your friends can just go to this link and make a direct voluntary contribution to the U.S. Treasury, they even take credit cards.

Suggest donate as much as you can you dope.



3 comments:

TofuNFiatRGood4U said...

Suicide is (ordinarily) illegal, as should be Gifts to Reduce the Public Debt.

The latter can never be described as 'medically necessary' (unless you think all of your heirs are unworthy).

In that case, your estate administrator could fill in IRS Form 999, Application for Random Fiat Jackpot Distribution, to be awarded to some lucky SSN holder (sans gift tax, of course).

Roger Erickson said...
This comment has been removed by the author.
Roger Erickson said...

Quit calling it a "debt"

Call it what it is.

Try this approach: "Do NOT make payments to the fiat currency sink."

What on earth is the point?

Instead, treat it for what it is, a source.

THERE IS "NO" CAUSAL CORRELATION FROM PAYING INTEREST ON TREASURY SECURITIES TO REAL INTEREST RATES OR TO LIMITS ON PUBLIC POLICY.

It's the exact opposite, for both cases, and even then, ONLY BY CHOICE! Plus, the very existence of T-secs are a simple policy decision, not a currency supply requirement.

Formulating policy, and methods for guiding it, are themselves policy choices. It's a simple point of logic.