Quote:
Originally Posted by Derek Sutton
Sorry, 38:15
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Sorry, I understand than there are some philosophical differences here. And I can understand how someone could disagree on the impact of taxing companies profits on inflation.
But this is cause for you to worry about senility and incompetence? Come on man, you understand that different people can hold different views than you on things and still be thoughtful people, right?
His point is perfectly valid, when you have an investor class when several individuals basically hold the wealth of nations as personal tools, where they can bid up the price of goods, and create their own currencies from thin air, and basically extract excessive rents from their clients. And while companies are making record profits, pulling some of this wealth into general government revenues which on balance would go towards national debt, would on balance reduce inflationary pressures. It might not work in practice but it's perfectly reasonable to hold those views.