Quote:
Originally Posted by Montrealcorp
When the wealthy get tax cut , they buy the same houses or stocks
(or worst bonds that lower interest rates -> costing billions profits to pension funds and %interest to the common man for his savings ) ,
just with higher prices to another rich guy that sell the house to buy with it other houses or more stocks , it produces 0 productivity for the real economy .
But it create massive amount of deficit that is the common man that pay for it …..
When u give to millions of Americans some debts relief for education cost , they can actually use that education asset they acquire and make something productive for that economy with that new money .
Who’s responsibility is it anyway to make sure getting a fair education (I’m not talking free) for a semblance of equal opportunity for everyone if not the government ?
Seeing how terrible the logic of some people are
In the US , might actually be a good idea to lower the cost down for education and make it more accessible for everyone .
Wouldn’t u agree investment in education is clearly one of the most profitable thing a government can do ?
Not just for work purpose but to actually create better citizen in many sphere of society ?
Ps: maybe u do not agree but I’m not a believer that a US doctor paying 2-300k ( w.e the number) for its tuition is necessarily better than a Canadian doctor just because he paid more to go to school .
We are extremely lucky in Canada to have the education and health care system we have .
U should know that imo .
Building on the above, America is the country that it is because of investing in the MC and improving their life.
The gov't programs that that build MC wealth (including debt alleviation) pay back multiples more across generations, then the gov't invests. They create massive surpluses.
They also provide the best long term benefits to the uber rich. America is just in this tough time as a maturing nation, where the Wall Street financial wizards see these mass pots of MC wealth as easier to loot for short term gain, then investing long term in the MC for more gains, due to the pressures of globalization. Thus why they push things to now loot MC wealth, like all the Housing Bubble games, that ended up taking a mass amount of MC wealth and transferring it to Wall Street. Thus why they are focused on SS and Medicare as well to loot.
America has shifted more towards a Russia type Oligarch model which is the uber rich saying 'screw it, lets loot it all to the benefit of the Elite, even if harms the long term wealth we, and the country would enjoy'.
Those pressures are very real. You will always have an Oligarch class willing to take the short term looting over the long term building.