The Consequences of Top-Down Economics Are Not Accidental — But There’s Cause for Hope
Alireza Naraghi

I probably agree with your core theme, that “the system” is too much failing our expectation that it enable the people at the bottom to rise, and too much enabling the people at the top to insanely soar.

It does always nag at me while reading articles of this type when the author departs from his theme to insert little gems of disinformation to promote his own political agenda.

Like the falsity that the US corporate tax rate is at an all-time low. We have the highest corporate tax rate in the industrial world. Perhaps the author means that there are so many loopholes that US corporations are able to legally avoid much of their tax obligations.

Or getting all worked up that Trump has avoided taxes for some years, because of a massive investment loss. I had a large (for me) investment loss in the crash of 2000, because of which I can avoid $3,000 per year of taxable income, saving me about $600 per year of taxes. We all, including Trump, are allowed to deduct losses from our income. The problem isn’t Trump’s legal tax obligations; the problem is the insane distortions of the tax code to suit rent-seekers and cronies. When the Left supports a flat tax with zero loopholes, then I’ll know they’re serious.

And throwing in the $15/hr minimum wage, as if it actually were about solving the inequality problem, when it is exactly about the opposite.

But as I say, I agree with the core theme; just not the naked political side issues.

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