economy janet yellen Markets

If Janet Yellen Had A ‘Magic Wand’, She’d Raise Taxes: Let’s Discuss…

"This is unsustainable."

"This is unsustainable."
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4 comments on “If Janet Yellen Had A ‘Magic Wand’, She’d Raise Taxes: Let’s Discuss…

  1. Janet is rich enough that she doesn’t have to depend on Social Security as many of us do!

  2. It saddens me that Repubs didn’t do tax reform that really made it more efficient and more incentivizing. A Simpson Bowles type revenue neutral plan. Something that really would encourage productivity enhancing investment and encouraging R&D and new products. Yes some of the tax cuts tried to help this but it was not comprehensive enough. We need to spend money on adding value or creating new products or making things at less cost or higher quality (productivity etc) not on pushing tax papers, hiring lobbyists, etc. And do this in a revenue neutral way. Or just take corp taxes to zero (as corps do not pay taxes people/consumers do) and tax dividends and cap gains at marginal rates while making it rev neutral with a consumption (VAT natl sales tax) which would capture the underground economy. IRS is thinned down, expensive accts, lawyers, lobbyists retrain as engineers and become productive etc. an opportunity was missed and the hole we are in is large. As always the poor and middle class will feel the impact of this fiscal policy. As a conservative repub I am disgusted that this opportunity was missed to help all Americans.

  3. Steve Stephens

    It’s a shame that someone in a position as powerful as Janet Yellen is in would make a comment of this nature. People that have retired in the past 10 years are the first generation to actually pay much more money than they will ever receive into Social Security.
    Wealthy people like her will never need social security to put food on the table and pay the electric bill but I am sure they will gladly accept the SS checks mailed to them.
    The people of this country are tired of the 1 percenters throwing their money around and then suggesting that those who need SS benefits should have them reduced.

  4. There will be means testing in the future. Your point is spot on Steve. When this becomes untenable (which will be soon) that is the way it will be handled.

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