@Pain66 Clinton was president during the dot com bubble. Bush was president during the dot come crash. Obama was president during the housing bubble crash and Trump was president during the COVID crash.
Once you know that, everything makes sense.
@Tfmonkey how would the housing bubble crash lower the deficit?
@Pain66 it didn't, but after the subsequent bailouts the S&P 500 did extremely well due the FED doing QE and causing asset inflation. Capital gains taxes are a big part of government revenue.
@Tfmonkey I’m kind of amazed Obama’s welfare programs & wars didn’t eat into the extras made from capital gains taxes. I guess he was liked well enough to the point where he didn’t need to give people more free shit for his re-election.
@Pain66 This is why politicians love Wall Street. Capital gains taxes are a massive portion of government revenue, so stimulating an asset bubble largely pays for itself in terms of tax revenue. If only it didn't cause inflation in showered upon the normies.
@Pain66 @Tfmonkey
The theory goes that any manipulation disrupts marketsignals causing malinvestment. If price is a mechanism for resource allocation inflating the stock market leads to overconsumption as expansion becomes overwhelmingly favoured and any conservative strategy would lead to lesser overall gains in the short and medium term.