A top crony media outlet is telling us that 1700 millionaires are minted daily, and that the rich have gray hair.
Bloomberg attempts to refocus hate away from their political cronies and onto the elderly who saved up enough to put a retirement fund in the stock market. Investors got a bonus of up to 85 billion dollars monthly that the Fed pumped into Wall Street, starting in Dec 2008 and continuing throughout the Obama administration. This quantitative easing has not stopped because the DONOR CLASS must be fed. But anyone who pumped a little money into a 401K for retirement could have benefited from this too.
Meanwhile the money was inflated for everyone, and therefore is worth less with each passing year, thereby shrinking the middle class and pushing them into the pool of the working and jobless poor. The wizards at Bloomberg don’t know why cutting taxes to corporations would help those at the bottom, because they don’t understand that all taxation of corporations is passed on to their customers. (Or maybe they just don’t want their readers to understand that.) When the taxes are cut, the corporations are free to hire more people, and that cost replaces the spiraling cost of taxes. But at least we get jobs and careers, and possible upward mobility out of it. But Bloomberg wants to target envy and hatred of people who saved money, rather than draw attention to the government policies which created the current misery for so many Americans.