Western money printing is slowly burning the bridges between rich and poor. Whatever the economic benefit (and I am dubious there), it is worth considering that there is a significant social cost.
– Thomas Pascoe (via Guido)
Tag / QOTD
Quote of the Day
Things have move on since 1700. We now have ubiquitous internet, exchange of information, people able to connect and form pressure groups etc. Prior to the internet, it would have been hard for people to know others were having the same problems, let alone connect with them an do something about it. I strongly believe that the internet age has made Libertarianism an even more practical proposition than it was previously.
– James Rigby, on Facebook
Quote of the day
Freddie’s resistance to refis highlights a central conflict of interest that plagues both Freddie and Fannie. That conflict is even more pronounced now that they are owned by taxpayers. The companies, which own or back about 60 percent of U.S. home mortgages, have a mandate to help expand homeownership…
Emphasis mine.
Quote of the Day
We get people like Sunny Hundal puffing in disgust because someone on £250,000 a year might be paying LESS than 40% in tax.
40% is £100,000 in tax. One hundred THOUSAND pounds in tax from one individual. Every year! That is four times the entire pre-tax wage of those on average incomes. It is TWENTY times that paid in tax by those same people. One person paying twenty times that of another.
Why? Because they are outnumbered, for a start.
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