Paying debt service to banks leaves less income to buy goods and services. — Michael Hudson Copy Share Image
Trump's claims that he's making taxes more democratic for the people, but it actually is a vast sucking of income and wealth… — Michael Hudson Copy Share Image
On the flat tax, the more you compress the tax rates, the more you untax where the income is really made, at… — Michael Hudson Copy Share Image
Textbooks don't teach people how to avoid paying any income tax. But that's what an army of tax lawyers and corporate tax… — Michael Hudson Copy Share Image
Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains. — Michael Hudson Copy Share Image
If you look at payments to labor as a proportion of national income or gross domestic product, you find profits going way… — Michael Hudson Copy Share Image
When they say inflation is bad, deflation is good, what they mean is, more money for us 1% is good; we're all… — Michael Hudson Copy Share Image
One basic myth is that rich people get wealthy by earning income. But that's not how most get rich. Most of the… — Michael Hudson Copy Share Image
The biggest industrial sector next to real estate is oil, gas and other mineral resources. They don't report any taxable income, because… — Michael Hudson Copy Share Image
Deflation means a slowdown of income growth. Markets shrink, new capital investment and employment also taper off, so wages decline. That is… — Michael Hudson Copy Share Image
When there's deflation, it means that although most markets are shrinking and people have less to spend, the 1% that hold the… — Michael Hudson Copy Share Image
The price decline is a result of having to pay debts. That drains income from the circular flow between production and consumption… — Michael Hudson Copy Share Image
That's why Apple, Microsoft and the big information technology companies have kept so much money registered abroad (although in US dollar accounts… — Michael Hudson Copy Share Image
Since 2008 you've had the largest bond market rally in history, as the Federal Reserve flooded the economy with quantitative easing to… — Michael Hudson Copy Share Image
To save the banks from making losses that would wipe out their net worth, you'll have to get rid of Social Security.… — Michael Hudson Copy Share Image
Everybody would be better off if they could buy housing for only, let's say, a carrying charge of one-quarter of their income.… — Michael Hudson Copy Share Image
The other dynamic keeping the stock market up - both for technology stocks and others - is that companies are using a… — Michael Hudson Copy Share Image
What do the 5%, or the 1% actually use their money for? They lend it back to the economy at large, they… — Michael Hudson Copy Share Image
If you're a wealthy heir with a trust fund, and you sell stocks, make your 10% gains since Donald Trump, and then… — Michael Hudson Copy Share Image
There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens… — Michael Hudson Copy Share Image
From 2008 to 2016 all the growth in the American economy, all the growth in national income, was earned just by the… — Michael Hudson Copy Share Image
If you have to pay about forty to forty-three percent of your income for housing, you also have to pay fifteen percent… — Michael Hudson Copy Share Image
Europe is creating the flight of refugees that's tearing it apart politically, and leading rightwing nationalist parties to gain power to withdraw from the… — Michael Hudson Copy Share Image
This is not really currency that circulates. It's like the old joke about expensive vintage wine. Wine prices will go up and once in… — Michael Hudson Copy Share Image
Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains. — Michael Hudson Copy Share Image
Nothing could be better for the economy than to get rid of fracking. — Michael Hudson Copy Share Image
If you end internet neutrality and permit mergers of the big information technology corporations, that's a form of rent seeking. It's part of today's… — Michael Hudson Copy Share Image
Deflation means a slowdown of income growth. Markets shrink, new capital investment and employment also taper off, so wages decline. That is what's happening… — Michael Hudson Copy Share Image
What's bad for the frackers usually is good for the rest of the world. — Michael Hudson Copy Share Image
You could say that the vote to withdraw from Europe is, it's really a vote of the British middle class, the working class, to… — Michael Hudson Copy Share Image
Actually, high housing prices don't help the economy. They raise the cost of living. — Michael Hudson Copy Share Image
When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting. There are… — Michael Hudson Copy Share Image
The United States and Europe are in a state of debt deflation, where people and businesses have to pay banks instead of spending their… — Michael Hudson Copy Share Image
On the flat tax, the more you compress the tax rates, the more you untax where the income is really made, at the top… — Michael Hudson Copy Share Image
