NDd’s Weekly Indicators for October 3 – 7
Weekly Indicators for October 3 – 7 at Seeking Alpha
– by New Deal democrat
My Weekly Indicators post is up at Seeking Alpha.
This week’s headline was easy, because OPEC’s (and in particular Russia and Saudi Arabia’s) geopolitical decision – aimed directly at the November elections in the US as well as Western support for Ukraine – to cut back production has already caused gas and oil prices to increase sharply.
As usual, clicking over and reading will bring you up to the virtual moment on the economy, and bring me a little pocket change to reward me for my efforts.
after clicking on that then click on Milton Friedman!
“
The property tax is one of the least bad taxes, because it’s levied on something that cannot be produced — that part that is levied on the land. So some taxes are worse than others,”
~~Milton Friedman~
do you see what Milton was saying? he was saying that when you tax land you’re not slowing production because land is not being produced, but when you tax corporations, corporate gains, or payrolls you are taxing production or inputs to production which slows down production. whatever you tax has an extra burden that slows it down. Enough taxation can bankrupt a corporation, leave its employees unemployed, starving. by contrast, a land tax can shrink M2 money supply, shrink inflation without shrinking GDP.
JC
Doubt too many companies selling specifically need product for manufacturing or transportation are having issues with profits. Indeed they are over charging due to planned limited product.