Don’t Blame Billionaires – Blame the Incentives - Schiff Gold
Don’t Blame Billionaires – Blame the Incentives - Schiff Gold
Source: Schiff Gold
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DW NOTE
The incentive problem isn't billionaires gaming the tax code — it's the Federal Reserve monetizing $1.4 trillion in deficit spending while holding real rates negative. When savers get robbed at 3.65% and the Treasury borrows without limit, capital doesn't flow to production, it flows to the tax-exempt and the politically connected.