I think the basic philosophical premise of antitrust regulations is the basic understanding of too much economic power in too few hands is problematic for markets. The problem is that 120+ years ago, firms were the only real power in town anyway, so that was the focus. As finance as emerged as the dominate ‘industrial’ player, I think we have to use the basic broad concepts of antitrust and focus it more on individuals. As Sherman put it, “If we will not endure a king as a political power we should not endure a king over the production, transportation, and sale of any of the necessaries of life.” Sure, there’s a scale issue – we’re not talking about one or two individuals here – but we are talking about monopolies’ closest cousin, oligarchy.
Key-Organization3158 on
Nah, malicious envy makes too many people overlook solid economic principles. Every quintile of income has seen significant real gains over the past 40 years. There’s no need to introduce something as asanine as a wealth tax. If the gains are unequal, current taxation will also be unequal. The US has a very progressive tax structure amongst developed nations. If you are so worried about revenue, then we should implement a VAT.
Werealldudesyea on
Can we stop using made up terms that we used in COVID to describe the outsource effects on the middle class? K shape economy, or that we outsourced middle class jobs so the tax base of the middle class is gone and low earners are now expected to “pick up the slack”.
Give tax breaks to those who hire domestically, not favoring H-1s.
3 Comments
I think the basic philosophical premise of antitrust regulations is the basic understanding of too much economic power in too few hands is problematic for markets. The problem is that 120+ years ago, firms were the only real power in town anyway, so that was the focus. As finance as emerged as the dominate ‘industrial’ player, I think we have to use the basic broad concepts of antitrust and focus it more on individuals. As Sherman put it, “If we will not endure a king as a political power we should not endure a king over the production, transportation, and sale of any of the necessaries of life.” Sure, there’s a scale issue – we’re not talking about one or two individuals here – but we are talking about monopolies’ closest cousin, oligarchy.
Nah, malicious envy makes too many people overlook solid economic principles. Every quintile of income has seen significant real gains over the past 40 years. There’s no need to introduce something as asanine as a wealth tax. If the gains are unequal, current taxation will also be unequal. The US has a very progressive tax structure amongst developed nations. If you are so worried about revenue, then we should implement a VAT.
Can we stop using made up terms that we used in COVID to describe the outsource effects on the middle class? K shape economy, or that we outsourced middle class jobs so the tax base of the middle class is gone and low earners are now expected to “pick up the slack”.
Give tax breaks to those who hire domestically, not favoring H-1s.