There are 3 things I read this week that pissed me off. Here goes.
1. All Classical Economists Should be Shot
Looking at finance in a lifeless vacuum, devoid of common sense, allows one to reach some pretty absurd conclusions. Case in point,
this article, in Slate, about how Huckster's national sales tax is an awesome idea.
"In the long run, most people, or at least most families, do spend what they earn. (Why earn it if you're not going to spend it?) True, some of us die with money in the bank, but usually our children or grandchildren step in to spend the remainder for us. So, as far as your dynasty is concerned, a 20 percent income tax and a 20 percent sales tax are equally painful."
He goes on to say that a sales tax is better than an income tax because with a sales tax you get to put your money in the bank and earn interest on it. What the fuck does he think he's talking about? This is the life-cycle of a paycheck for about half the country, including me: receive paycheck, pay bills, have a small amount left over for eating, drinking, strippers, really awesome Warcraft ax, Warcraft strippers, or whatever you're into for entertainment, and by the time the next paycheck arrives we are somewhere between having $5 left and pawning our teeth. Think the class divide is bad now? Wait until we have a sales tax and the monied people are even more monied, while everyone else is in the same place. And where will that moniedness be spent? At the high-end Manhattan stores that just set up shop in Montreal. This is retarded.
An even more obvious reason a sales tax is a bad idea: we don't have a functioning economy. We don't make anything except movies based on comic books. We are getting by because people refuse to stop going into debt to buy shit they can't afford. If that stops happening, as it would with a sales tax, we'll collapse. Our greatest national resource is the lists of consumer information we sell to each other because they'll help us sell each other more shit. Jesus Christ, I'm sick of economists trying to out absurd-conclusion each other.