For the 10%, the stock market crashing just means cutting back on primarily discretionary spend - think no new car and maybe not buying the family new iPhones every year - they're not in any danger of going hungry, especially if they have any sense.
There are plenty of arguments to be made for infrastructure projects, for example, why not build out more power generation and transmission?
for example one big lever is student loan debt relief. another is mortgage and auto loans relief. another is reducing the exclusivity period for pharmaceutical patents. so these are taxes in only the metaphorical sense - you get worse medicine with shorter exclusivity periods - but maybe people like that trade?
> the stock market crashing just means cutting back on primarily discretionary spend - think no new car and maybe not buying the family new iPhones every year - they're not in any danger of going hungry, especially if they have any sense.
this is a very paul krugman hand wavey POV. without a doubt, it would be a catastrophe.
I don't quite understand this - isn't propping up the stock market via bail-outs more of a communist approach? Using communal tax revenues to keep failing businesses afloat seems far more communist than capitalist. The capitalist approach should really be to let failing companies fail.