Over my lifetime, it seems that tax cuts are paid for by the people who can least afford it. No matter how hard some have tried to explain how trickle down doesn’t happen, it seems many people still believe it. Those who believe in tax fairness know that it is possible, and the 1% would still be the 1%. Few of the 1% seem to be interested in fairness. Money is power, after all. But the difference it would make for the rest of the country would be monumental, and the theory is everyone would benefit socially from this.
Another way Bezos, Cook and the other Magnificents might be looking at the stock market is downturns are a part of doing business. They are to be expected and can be recovered from. Tax cuts can be forever.
I couldn’t help but notice how eerily quiet the Magnificents have been in the wake of Wall Street’s recent shock waves. Where’s their outrage and dissatisfaction with these insane policies, disrupted trade agreements, huge losses of stock value? I had to come to the same conclusion: the belief that whatever Trump has promised them is worth whatever pain they may temporarily experience, and which the rest of the world will be left to swallow.
Thing is, the Drumpf has said all along that he’d be funding his billionaire tax cuts by (a) reducing government waste, and (b) tariffs. When Musk came aboard, one look at his blunt, callous approach to remaking Twitter meant the process would likely not be efficient, or pretty. (Not that I worried: I naively believed Trump could not possibly be re-elected). But do these Roundtable residents (Apple, Amazon, etc) actually condone DOGE’s methods, or accept them as part of a larger plan? And as the Asian markets are tumbling hard tonight, I question how these presumed titans of industry could possibly put their faith in a megalomaniacal, sociopathic narcissist, the exact opposite of a “stable genius”, whose economic policies are as flaky as the Pillsbury Doughboy and have as much substance as one of those flakes. Do they assume they are invulnerable to the volatility of a radical restructuring of global trade, even if this all blows up in Trump’s face? Is this really just a downturn they can weather?
Maybe so. Obviously, I can be vulnerably naive. Perhaps we’re just looking into a black hole of greed and corruption that defies analysis and/or logic. I’d welcome other input.
But maybe not tonight. I need to turn to one of Marlon’s evening time cleanses — say, a glass of wine and a nice bit of music. Any entertaining diversion will suffice. Thanks, Marlon, for the interesting feed.
I've heard magats claim the tariffs will pay off the national debt to which I say, no, it's to avoid adding to it. They don't seem capable of understanding it's at our expense and the benefactors are people like trump and leon.
Hi Leslye! Thanks for your comment. My wife always tells me that my superpower is being able to explain complicated things in a way anyone can understand. Glad it made sense. ☺️
Einstein said, "You don't really understand something till you can explain it to your grandmother." I think Einstein would have approved of Marlon. As for Marlon's grandma, only he could say. :-)
Every Republican "tax cut" in my entire life added no wealth, and barely gave any tax savings for me or anyone I know punching a clock. Bush 43 cut taxes twice, and I saw a total of about a $20/pay period bump from that in a middle income bracket.
It's bewildering to me that American voters, especially on the right, keep falling for this con. It doesn't raise wages, it doesn't lower working people's taxes and it doesn't invigorate the economy. It's a win-lose-lose-lose, and working people hold all of those "L's."
I've been a subscriber...I came for the moments of Zen and the vids of the rolling shore outside your place in South Carolina. I've stayed for the years of wisdom you bring (Financial and otherwise).
How much money will Trump tariffs cost your family and mine? No one really knows; guesses vary. Marlon cites a Tax Foundation estimate approaching $2,000 a year. Former VP Mike Pence’s own think tank pegs the Trump tariff cost at $3,500+, or about $300 a month.
For a sense of scale, consider this: in 2020 the Congressional Budget Office found that universal healthcare, aka Medicare for All — updated here for medical inflation — would essentially SAVE each US family more than $6,000. That's like $500 a month.
Which would you rather have: a new cost BURDEN of at least $300 a month thanks to Trump tariffs? Or a cost SAVING that puts $500 a month, on average, back in your pocket?
The good news: it’s not either/or. Let's raise a ruckus about Trump tariffs, his political stunt. And tell lawmakers loud and clear, We the People demand universal care — “For us. For Free. Forever." https://medicareforall.us. Thank you!
Just what I’ve always wanted to do. Pay taxes for filthy rich people. Hey, c’mon everybody! Let’s pay Léon’s taxes. I’ll pay Léon’s, you pay Jeff’s! Or I’ll pay Tim’s and you pay Mark’s. Whichever. Great fun!
Over my lifetime, it seems that tax cuts are paid for by the people who can least afford it. No matter how hard some have tried to explain how trickle down doesn’t happen, it seems many people still believe it. Those who believe in tax fairness know that it is possible, and the 1% would still be the 1%. Few of the 1% seem to be interested in fairness. Money is power, after all. But the difference it would make for the rest of the country would be monumental, and the theory is everyone would benefit socially from this.
It’s time we start calling it what it is.
It’s not trickle down economics, it’s trickle up economics.
The wealthy in America are the real “welfare queens.”
Another way Bezos, Cook and the other Magnificents might be looking at the stock market is downturns are a part of doing business. They are to be expected and can be recovered from. Tax cuts can be forever.
BINGO
I couldn’t help but notice how eerily quiet the Magnificents have been in the wake of Wall Street’s recent shock waves. Where’s their outrage and dissatisfaction with these insane policies, disrupted trade agreements, huge losses of stock value? I had to come to the same conclusion: the belief that whatever Trump has promised them is worth whatever pain they may temporarily experience, and which the rest of the world will be left to swallow.
Thing is, the Drumpf has said all along that he’d be funding his billionaire tax cuts by (a) reducing government waste, and (b) tariffs. When Musk came aboard, one look at his blunt, callous approach to remaking Twitter meant the process would likely not be efficient, or pretty. (Not that I worried: I naively believed Trump could not possibly be re-elected). But do these Roundtable residents (Apple, Amazon, etc) actually condone DOGE’s methods, or accept them as part of a larger plan? And as the Asian markets are tumbling hard tonight, I question how these presumed titans of industry could possibly put their faith in a megalomaniacal, sociopathic narcissist, the exact opposite of a “stable genius”, whose economic policies are as flaky as the Pillsbury Doughboy and have as much substance as one of those flakes. Do they assume they are invulnerable to the volatility of a radical restructuring of global trade, even if this all blows up in Trump’s face? Is this really just a downturn they can weather?
Maybe so. Obviously, I can be vulnerably naive. Perhaps we’re just looking into a black hole of greed and corruption that defies analysis and/or logic. I’d welcome other input.
But maybe not tonight. I need to turn to one of Marlon’s evening time cleanses — say, a glass of wine and a nice bit of music. Any entertaining diversion will suffice. Thanks, Marlon, for the interesting feed.
I've heard magats claim the tariffs will pay off the national debt to which I say, no, it's to avoid adding to it. They don't seem capable of understanding it's at our expense and the benefactors are people like trump and leon.
I’ve never seen a single group of people so immersed in upside down thinking across so many different categories of things.
That makes two of us.
Which is why I say they're living in Bizarro World.
I’m enjoying your posts precisely because I am not an economist, but a historian. For a change I am reading something that makes sense.
Hi Leslye! Thanks for your comment. My wife always tells me that my superpower is being able to explain complicated things in a way anyone can understand. Glad it made sense. ☺️
Einstein said, "You don't really understand something till you can explain it to your grandmother." I think Einstein would have approved of Marlon. As for Marlon's grandma, only he could say. :-)
Your wife is right. That’s a good superpower to have.
☺️
He said he was going to be vindictive and hateful and he is
Every Republican "tax cut" in my entire life added no wealth, and barely gave any tax savings for me or anyone I know punching a clock. Bush 43 cut taxes twice, and I saw a total of about a $20/pay period bump from that in a middle income bracket.
It's bewildering to me that American voters, especially on the right, keep falling for this con. It doesn't raise wages, it doesn't lower working people's taxes and it doesn't invigorate the economy. It's a win-lose-lose-lose, and working people hold all of those "L's."
ORANGE ARSEHOLE
Marlon, Congrats with your success on substack.
I've been a subscriber...I came for the moments of Zen and the vids of the rolling shore outside your place in South Carolina. I've stayed for the years of wisdom you bring (Financial and otherwise).
Thank You!
How much money will Trump tariffs cost your family and mine? No one really knows; guesses vary. Marlon cites a Tax Foundation estimate approaching $2,000 a year. Former VP Mike Pence’s own think tank pegs the Trump tariff cost at $3,500+, or about $300 a month.
For a sense of scale, consider this: in 2020 the Congressional Budget Office found that universal healthcare, aka Medicare for All — updated here for medical inflation — would essentially SAVE each US family more than $6,000. That's like $500 a month.
Which would you rather have: a new cost BURDEN of at least $300 a month thanks to Trump tariffs? Or a cost SAVING that puts $500 a month, on average, back in your pocket?
The good news: it’s not either/or. Let's raise a ruckus about Trump tariffs, his political stunt. And tell lawmakers loud and clear, We the People demand universal care — “For us. For Free. Forever." https://medicareforall.us. Thank you!
Just what I’ve always wanted to do. Pay taxes for filthy rich people. Hey, c’mon everybody! Let’s pay Léon’s taxes. I’ll pay Léon’s, you pay Jeff’s! Or I’ll pay Tim’s and you pay Mark’s. Whichever. Great fun!