When the Fed raises the interest rate...
It sounds benign, just slow down the economy a little and keep workers from demanding too much in wages - keeping Wall Street happy. But, who pockets the 1/2 percent we all pay?
I'm no financial guy, so I am just raising the issues:
Just where does the money go? It feels like taxation without representation. It feels like a redistribution of wealth to the wealthy.
While canidates talk about tax cuts, the Fed slips in this "tax" and no one complains. Why is this "interest rate tax", a tax in sheeps clothing, more benign and easier to swallow than an April 15th tax or a sales tax? The benefit of an offical tax (not a sneaky tax) is that you can trace where the money is going.
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