Kleptocracy
One of the defining characteristics of a “Banana Republic” is the looting of public treasuries to the benefit of the economically and politically powerful. If the greatest wealth transfer in human history wasn’t enough to convince you that we’re reaching that point then surely this will. The final numbers are in on the Bush Tax cuts set to expire next year. All told, it cost the Treasury $2.34 trillion, and you can guess who benefited the most.
Posted: October 31st, 2009 under Politics, The Dismal Science.
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