When wealth is concentrated and downturns drain government revenue, taxation tends to shift wealth from the wealthy to people with less.
When wealth is concentrated and downturns drain government revenue, taxation tends to shift wealth from the wealthy to people with less.
More from this video
See all →A borrowed television creates repayment obligations without income. A borrowed tractor can raise…
Most money people use is actually credit, so shrinking credit shrinks effective money and…
Austerity can worsen the debt burden first when spending cuts shrink incomes faster than debts are…
Deleveraging feeds itself: less spending means less income, less wealth, less credit, and still…
Borrowing pulls spending forward, allowing consumption above income now and forcing consumption…
Credit is the economy’s most important, largest, and most volatile component, yet it remains least…
Three rules of thumb: debt must not outgrow income, income must not outgrow productivity, and…
The long-term debt peak hit the United States, Europe, and much of the world in 2008.
Don't lose this one
A free account saves insights like this to your Boards, and Korva resurfaces them so you actually remember.