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Wow, that's a hilariously spot on analogy! I'm ideologically predisposed against centralization (including that of government), but I've still got to acknowled
by mindslight 3y ago
Wow, that's a hilariously spot on analogy!
I'm ideologically predisposed against centralization (including that of government), but I've still got to acknowledge the extreme slashing of tax rates that took place over the last several decades. Not only the income tax, but also the estate tax. Take a look back at the historical rates for both, and they're shocking compared to what we consider "high taxes" today.
These taxes were gutted under a pretend banner of limiting government, while government spending continued full steam ahead - including spending on mega subsidies to the financial industry by the federal reserve. Those taxes were all money that used to be recaptured by the government, now continually accumulating in private hands. The only reason we haven't had massive price inflation over the past several decades is that technological progress and outsourcing has made manufactured goods continually less expensive to produce. Instead the inflation has shown up in the "everything bubble", with asset prices mostly exempt from CPI, as ever-growing anti-productive wealth pools bid up ownership of our entire society.