“Artificially low interest rates, declining household wealth, income stagnation”
I’ll digress a tad here. Did my tax return yesterday. I encourage everyone to do as I did. I looked back on my returns of the past (I have them back to 1972). One thing that jumped out to me: My interest income is now lower than when I was working while in college. Yup, my cash savings while 100 times as much as then is actually lower. My disposable income has been in constant decline for the past ten years due to this. One other thing I noticed. In 1972 I reported about 12K in gross revenue. I paid $1200 in TAX. That would be an effective rate then of 10%. Today, those making the equal in inflated dollars pay zero and probably get a check called a tax credit. No wonder we are in decline.
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