Saturday, December 27, 2008
Another Angle on $4 trillion tax cuts for rich -- ditch Detroit
Another angle on $4 trillion in tax cuts for the rich -- the bird for Detroit.
If the rest of us had that $4 trillion in tax cuts to spend (about $400 billion a year -- doable) we might have bought enough cars to keep all, domestic and transplant, auto factories profitable.
BTW, I am reading The Weight of the Yen, by R. Taggart Murphy (1996 -- reputed the best book on the Japanese economy -- by a business man; no graphs). Believe it or not, the giant Japanese stock market and real estate bubbles of the eighties were cold bloodedly provoked by the economic bureaucrats running Japan (out of control of the politicians and everybody else) in order to soak the everyday person for as many yen as possible and use them to build a giant industrial plant. How's that for a subsidy?!