Alternative Visions - Billionaires’ Kids Call For Tax Hikes as Trump Proposes More Tax Cuts for Wealthy
Dr. Rasmus previews the G20 meeting and prospects for US-China deal. Review of deteriorating condition of both US and China real economies. US indicators weakening fast: housing, factory orders, consumer and business spending, inflation, jobs. What’s happening in India’s economy overview, as non-performing bank loans and shadow bank instability rises. Weak links in global economy: Europe, India, Argentina, Turkey, So. Africa, Brazil, So. Korea, as US & China economies also slow. US Billionaires (Soros, kids of Pritzgers, Disney, Berkshire Hathaway, etc.) call for 0.1% wealth tax hikes on billionaires like themselves. As Trump maneuvers another tax cut for them bypassing Congress. Rasmus compares wealth tax hikes to financial transactions taxation, Warren vs. Sanders’ proposals. Stock buybacks and dividend payouts to reach $1.5 trillion in 2019, as Fed allows banks to buyback-payout $200 billion or more for first time. The show concludes with critique of (other) billionaires (Rubinstein, Singer, etc.) launching media ideological offensive against emerging progressive proposals like Medicare for All, Modern Money Theory, Student Debt Relief, Green New Deal, and the general idea of ‘Socialism’.
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