Thread by @MaxKennerly

Billionaires, big banks, and hedge funds are flooded with cash but don't want to invest in productive businesses or pay taxes, so they're lobbying to have the government pay them to steal public lands so they can impose taxes on everyone else.

I'm not exaggerating.

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/1

https://twitter.com/ddayen/status/1406974281754431494

Here's $3.75 trillion in cash sitting in commercial banks. It could be lent out to people or businesses; they do not want to do that. They're "waiting for opportunities to invest at higher rates." There's a concern "human beings are getting paid more." "Overheating," they say.
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The Senate group has released merely two pages, but embedded in there appears to be a proposal for the wealthiest 0.01% to get a discount (via tax credits) to get paid (via debt interest) to get paid again (via dividends) to own public infrastructure and overcharge us for it.
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We could mitigate some of this with a wealth tax on the obscenely rich, giving them an incentive to seek returns by investing in people & businesses, rather than hoarding trillions in cash while lobbying the Fed and the gov't to pay them to give them permanent monopolies.

/end