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What, exactly, is he referring to when uk canada goose outlet

canada goose clearance sale Hedgies vs Obama

Jim Chanos claims not to understand why hedgies are so critical of Barack Obama: after all, they done pretty well for themselves over the past three canada goose clearance sale years. But uk canada goose maybe this chart, from Thomas Piketty and Emmanuel Saez, might help buy canada goose jacket him out:

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Canada Goose Jackets What we see here is the canada goose very strong correlation between cheap canada goose uk tax cuts for the rich (on the x axis) and increased wealth for the rich (on the y axis). This correlation comes as no surprise, of course. But Obama doesn want tax cuts for the rich: he wants to roll their canada goose uk outlet taxes back to Clinton era levels. Instead, he wants lower taxes for the middle classes, which won help hedge fund managers at all.

canadian goose jacket As Piketty and Saez note, lower top marginal tax rates don translate into higher Canada Goose Online growth which means that the extra wealth going canada goose clearance to the 1% really is a zero canada goose black friday sale sum game, and being taken out of the pockets of the 99%.

buy canada goose jacket cheap But it hard for a gazillionaire to Canada Goose Parka come out and say that he wants more of everybody else money. So instead we get this kind of thing, wherein Leon Cooperman pulls out every rhetorical trick in the book in an open letter to Barack Obama:

Canada Goose sale What I can justifiably hold you accountable for is your and your minions role in setting the tenor of the rancorous debate now roiling us that smacks of what so many have characterized as warfare Whether this reflects your principled belief that the eternal divide between the haves and have nots is at the root of all the evils that afflict our society or just a cynical, populist canada goose factory sale appeal to his base by a president struggling in the polls is of little importance. What does matter is that the canada goose coats divisive, polarizing tone of your rhetoric is cleaving a widening gulf, at this point as much visceral canada goose outlet toronto as philosophical, between the downtrodden and those best positioned to help them. It is a gulf that is at once counterproductive and freighted with dangerous historical precedents. And it is an canada goose store approach to governing that owes more to desperate demagoguery than your Administration should feel comfortable with.

canada goose black friday sale The first Canada Goose Coats On Sale thing to note, here, as Piketty and Saez show, is that the 1% are not actually the people positioned to help the 99%. When the 1% do well, the 1% do well. But that rising tide is nowhere to be seen.

canada goose clearance But there another question raised by Cooperman letter, and Andrew Ross Sorkin phoned up Cooperman to ask it. What, exactly, is he referring to when uk canada goose outlet he talks about Obama polarizing tone Go on, cheap Canada Goose take a guess. Here the answer:

canada goose deals pushed canadian goose jacket me over the fence was the president dialogue over the debt Canada Goose online ceiling, Mr. Cooperman said, explaining that just when it seemed like a compromise was near, President Obama went on national television and pressed harder on and billionaires, a phrase that has stuck in the craw of many of the elite. For example, Mr. or hedge fund manager in America right now, your taxes are lower than they have ever been. They are lower than they have been since the 1950s. And they can afford it, the president said back in June. can still ride on your canada goose uk shop corporate jet. You just going to have to pay a little more.

cheap Canada Goose This just doesn make sense. Cooperman supported Obama in the 2008 election, when he trotted out the line about cuts for millionaires and billionaires many times. And the corporate jet line was a specific reference to a specific tax break which Obama wanted to abolish as part of the deal.

canada goose store I think the real reason that Cooperman has started throwing his toys out of the pram right now is Occupy Wall Street a movement which is more opposed to Obama than aligned with him. But saner heads, like venture capitalist Nick Hanauer, understand that higher taxes on millionaires and billionaires are a https://www.thebeatlestimeline.com necessary part of any successful fiscal policy going forwards:

Canada Goose Parka Without consumers, you can have entrepreneurs and investors. And the more we have happy customers with lots of disposable income, the better our businesses will do.

Canada Goose online That why our current policies are Canada Goose Outlet so upside down. When the American middle class defends a tax system in which the lion share of benefits accrues to the richest, all in the name of job creation, all that happens is that the rich get richer.

buy canada goose jacket So let give a break to the true job buy canada goose jacket cheap creators. Let tax the rich like we once did and use that money to spur growth by putting purchasing power back in the hands of the middle class. And let remember that capitalists without customers are out of business.

canada goose coats on sale Hanauer absolutely right: the idea that millionaires (that is, people with seven figure incomes) are job creators simply isn borne out by any Canada Goose sale empirical evidence whatsoever. And I particularly like NPR idea of asking the GOP to point to a single business owner who would hire fewer people if the top marginal tax rate were to go up. Astoundingly, in a country of 300 million people, they couldn find a single one.

Canada Goose Outlet So while people canada goose uk black friday like Cooperman are interesting as a political phenomenon, their rhetoric doesn stand up to scrutiny. I do, however, continue to wonder at the ability of the Republican Party to sell higher incomes for the 1% to the public as a whole. Is there any other country in the Canada Goose Jackets world where a major political party panders so cravenly to such a tiny base and gets broad political support for doing so.



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