How you can tell Karl Rove won
In all this talk about the bailout, how many times have you heard anybody serious in political circles say that we ought to be paying the bill for this with a tax hike on high incomes? Zero? Less than zero? Wouldn't a conversation about making sure those who benefitted the most from the runup and will benefit most from the bailout pay most of the bill happen in any adult country?
The guys who made all the money, then crashed the financial system, and will be getting bailed out are, actually, apparently set to get a tax break with the AMT and capital gains tax changes being proposed. That's just seriously regressive no matter how you slice it - we're apparently either going to pay for this via inflation or via general tax hikes on everybody.
My former cow-orker and I still trade predictions every week or two on whether we'll be seeing deflation or inflation as a result of all this, but now the rest of you get to share in my brilliance. I'm probably the last crackplogger in America to talk about the financial collapse. Yay!