Tax Bill (December 2017)

The Republican tax bill (December 2017) will give most of the tax cuts to the wealthy.  I fear that the wealthy will invest a large part of their extra income into investment vehicles like the stock market – with the result that the stock market, and other such vehicles, will rise to unprecedented levels – but I am quite sure that that the rise will be a bubble.  I do not think the  stock market, or other vehicles, will be able to absorb the extra money into new business – which the Republicans are claiming will be the effect of the cut.  To grow the economy, I think we need to grow demand – from the bottom up, not the top down.  We shall see, since the bill is likely to pass.

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