Sean Corrigan, chief investment strategist at Diapason Commodities Management, CNBC:
"The privileged few clustering around the Treasury Secretary and the Fed have eaten everybody else's lunch," Corrigan said.
Sounds pretty good so far, huh? Well, the article continues:
See the head fake?One key sticking point lies in raising taxes on higher earners, which many Republicans object to.
"If you want to preserve some kernel of the free market, you can't have corporate welfare socialism and then expect all the austerity to fall at the bottom of the pile," Corrigan said.
We are lead to believe that the bottom of the pile is "the poor" or the half of the US that does not pay taxes. Of course no one is suggesting we raise taxes on "the poor". The discussion centers on whether or not to raise" taxes on higher earners" when many of those "high earners" are small business owners.
The real "bottom of the pile" if taxes are raised on high earners will be America's small businesses who are forced to support "corporate welfare socialism" in the financial sector.
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