181–182 of 182 posts
Earlier quoted context omitted.
Favourable (read ‘low’) tax rates for the propertied classes, as well as the neo-liberal nation-state’s tax cuts, are ribbon wrapped gifts
Tax rates are far lower for the poor than the rich. In fact, the wealthiest pay a majority of income taxes.
The single largest thing we can do is undo the changes to bankruptcy law signed in 2005, it removed bankruptcy as a tool of the poor to discharge excess debt. It's caused there to be very little downside to lending, and lead to an explosion of debt.
I'm begging on hands and knees for everyone in this thread to read Graeber's "Debt: the first 5,000 years." The notion that debts have to be paid is very odd. If I went to a bank and asked for a loan to bet on a horse, they'd laugh me out of the building. But if they knew that no matter what they could get the money back from me, they'd cut the check. That's where we are right now with non-dischargeable debts. Who ho…
debtor: good lender: bad
I have empathy for the horrific stories author shares, but my logic was seeking the obvious topic that never came (in those two chapters). What if lenders decided to not lend? Wouldn't that leave those poor souls in Madagascar in even worse position?
The book is propaganda.