by James Howard Kunstler
Kunstler.com
“The Senate bill also includes a provision intended to avert surprise tax bills for people who lost jobs, waiving federal income taxes for the first $10,200 of unemployment benefits received in 2020 for households earning under $150,000.” – The New York Times
Isn’t that a curious concept from the front page of Re-set Central? How does a couple with no jobs and no income earn $150,000 in a year that they were not working? And if they somehow brought in $150,000 anyway, why do they need the support of the US government? Such are the many mysteries of the Coronavirus 2021 stimulus bill.
What’s actually going on with this monster of legislation? Kind of looks like an attempt to replace what used to be a national economy with something that pretends to be money conjured from a system pretending to tax itself on wealth that was never generated in the first place. In other words: politicians have achieved the final divorce of wealth from production, and thus economy from reality. The USA has become the Big Rock Candy Mountain.