Skip to content
Andrew Tobias
Andrew Tobias

Money and Other Subjects

  • Home
  • Books
  • Videos
  • Bio
  • Archives
  • Links
  • Me-Mail
Andrew Tobias
Andrew Tobias

Money and Other Subjects

Are You Smart Money?

October 23, 2017October 22, 2017

If you’re an investor, well worth the read (thanks, Pete): Smart Money And Dumb Money Are Moving In Opposite Directions. The smart money is heavily in cash.

(And if you have time, William O. Cohan, writing in Vanity Fair, says “the Bond King” is worried, too.)


One reason the market is high, some believe, is its expectation of a “massive” tax cut on corporate profits and wealthy investors — both of which make stock ownership more appealing.

That this is exactly the wrong time for a tax cut — 4.2 unemployment; National Debt that needs to shrink relative to the economy as a whole; infrastructure in woeful need of revitalization — is the stuff of another post.

And that “relief for the wealthy” — the lion’s share of what’s being proposed — is clearly not what most Americans would prioritize as a key concern is so obvious as to need no elaboration.

(But when has that ever stopped me?  Most would place a higher priority on lowering health care deductibles and co-pays; putting people to work modernizing infrastructure; allowing federal-student-loan holders to refinance at today’s low rates; funding scientific research.)

But — if the Republicans get their way — here we go again.  Bush promised a massive tax cut “by far the vast majority” of which would go to people “at the bottom of the economic ladder.”  This was a multi-trillion lie.  Plain and simple.

What’s more, it did not trickle down.  It did not create employment gains or wage hikes — employment and wage growth were largely stagnant under Bush; only inequality rose.

Now the Republicans are out to do it again.  A supposedly massive tax cut for average Americans that will in fact be, instead, a massive tax cut — again — for the wealthiest Americans.

(For many Americans, it is the Social Security and Medicare deductions from their paychecks — which will not be cut a dime — that are the main federal tax they pay.)

And you know what they say: “fool me once, shame on you; fool me twice . . .”

 

Post navigation

← Melvin Reddick / Andrew Sullivan / Richard Painter
Meet Hurricane Irma and Governor Scott →

Quote of the Day

"We've forgotten all the sacrifices that the people who've gone before us made to give us this wonderful life that we have. We accept it; we take it for granted; we think it's our birthright. The facts are, it's precious, it's fragile -- it can disappear."

Ross Perot, 1988

Subscribe

 Advice

The Only Investment Guide You'll Ever Need

"So full of tips and angles that only a booby or a billionaire could not benefit." -- The New York Times

Help

MYM Emergency?

Too Much Junk?

Tax Questions?

Ask Less

Recent Posts

  • Stuffing The Goose

    June 30, 2025
  • Yes! (Plus A Bonus)

    June 29, 2025
  • How Does THAT Make You Feel . . .

    June 27, 2025
  • Randi, David, Ken, and HYMC

    June 26, 2025
  • Six Links For Your Consideration

    June 25, 2025
  • Weekend Reading

    June 20, 2025
  • Oh, My

    June 18, 2025
  • 3 Quick Clips

    June 17, 2025
  • A Quick Poem

    June 15, 2025
  • Must Read

    June 14, 2025
Andrew Tobias Books
  • Facebook
  • Twitter
©2025 Andrew Tobias - All Rights Reserved | Website: Whirled Pixels | Author Photo: Tony Adams