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Wednesday, August 15, 2018

Treasury Secretary’s New Scheme To Further Enrich The Very, Very Rich

Reprinted with permission from DCReport.

 

The swamp monster who Donald Trump chose as Treasury secretary has a plan to save the richest of the rich billions and billions in taxes – and without any vote by Congress, either.

Steve Mnuchin, a former Goldman Sachser and later California banker who grew rich exploiting the housing crisis, revealed the plan to The New York Times while in Argentina for the G-20 meeting of the world’s richest countries.

The plan would radically increase the concentration of wealth in America, accelerating a trend that will be explained below with some shocking numbers. And it comes as the Trump administration, reneging on campaign promises, is floating proposals to cut Medicare, Medicaid and Social Security as well as using subtle means to scuttle the Affordable Care Act.…

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Why Higher Techie Incomes May Bring Lower Quality Of Life

Reprinted with permission from Creators.

 

It’s the craziest thing. Factory towns that bled both jobs and people still have a fine housing stock, cheap for lack of demand. Booming tech centers, meanwhile, attract battalions of newcomers despite their soaring housing costs and growing congestion.

Can’t something be worked out here?

Amazon.com helped set off the red-hot growth in its hometown of Seattle. With the prosperity came a crisis of homelessness and crushing housing prices for those with moderate incomes. This has created strife. Longtime residents who prize their funky old neighborhoods are fighting off newer arrivals (allied with builders) who want them leveled for apartment complexes.…

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Freeing Predators To Bilk Little People Hurts Everyone

Reprinted with permission from Creators.

The most vivid takeaway from the financial meltdown of 10 years ago was that nearly everyone got hurt. Stock investors took a beating. People who had carefully set aside money for retirement saw a third of their savings vanish. Consumer spending collapsed, pushing two of the Big Three U.S. car companies to the edge of bankruptcy. Unemployment soared to 10 percent.

Taxpayers had to bail out both the banks and the automakers. And no, they didn’t have a choice. It was that or turn the Great Recession into another Great Depression.

The losers were everywhere, but the saddest had to be the ordinary folks who lost their homes.…

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