Monday, March 30, 2020

Tyler Durden - Putin Says 'The Rich Must Pay' For The COVID-19 Chaos

I thought myself the other day that it is now time to get all the money owed us out of the tax havens. There might be enough to save the economy, and ultimately, the businesses of the elite too, as the ordinary guy is too maxed out to find the money.

In contrast, Putin has settled on a more rational and compassionate plan. He’s going to launch a relief program that actually focuses on the people who need it the most. Then, he’s going to cover the costs by taxing the people who are most capable of shouldering the burden. His intention is not to “soak the rich” or to redistribute wealth. He simply wants to find the most equitable way to share the costs for this completely unexpected crisis. In short, Putin was presented with two very bad options:

1– Let the Russian people huddle in their homes (“shelter in place”) until the food runs out and the bills pile up to the ceiling.

2–Or tap into a temporary source of revenue that will help the country get through the hard times.

He wisely chose the latter option not because he’s a fiery leftist who hates the “free market”, but because he realizes that in a time of national crisis, the people who are more able to pay, should pay. It’s a question of fairness.

Tyler Durden - Putin Says 'The Rich Must Pay' For The COVID-19 Chaos

1 comment:

Peter Pan said...

Grandmaster Putin understands MMT. He is taxing the rich for the fun of it.