4 ms·
It's not a question of a tax on the rich vs. a tax on the poor, it's a tax on savers to benefit borrowers and spenders. You're forcing the responsible to subsid
by tharne 5y ago
It's not a question of a tax on the rich vs. a tax on the poor, it's a tax on savers to benefit borrowers and spenders. You're forcing the responsible to subsidize the irresponsible. Donald Trump loves low interest rates for example, because he uses debt for everything. My grandmother by contrast, would always be sure to have a rainy day fund with plenty of cash. Having lived through the Great Depression, she knew it was prudent to always keep some cash on hand and not have everything tied up in illiquid assets.
- frockington1 5y agoSadly the world no longer values savings and prudence. Might as well jump out on the risk curve and get rewarded with everyone else. Those with the worst loans in '08 were bailed out so there is little downside. I wish it were not this way but might as well take advantage
- jokethrowaway 5y agoVery true - at the same time, when everyone start thinking like this, the bubble may pop