Zero Hedge can pound sand today.

"Looking at the chart above prompted JPM's Michael Cembalest to ask, rightfully, "what happened to all the fiscal conservatives in the GOP?" What indeed."

Source.

Fiscal conservatives died when you doubled the national debt. They also died when Obama frankly started printing money to inject directly into the stock market. So all of you media can just fuck off. And honestly - Zero Hedge is trying to convince people that "investing money" leads to the velocity of money going down. Seriously?! And that people in this magical range of 100-500 thousand dollars a year are just going to sit on that money now that they can actually spend it on things like.... not health care. Investing was the thing that caused money to stop flowing!? That is a fascinating new fact that I've never seen in my lifetime.

Now I've fucking seen everything. This is propaganda at it's best!

I suspect I'm actually going to be worse off because I own real estate. And I'm not happy about it unlike all those really rich people who say they don't mind paying extra taxes. I DO MIND. But it pisses me off more that the government uses the tax code to get people to do what they want instead of what people would want to do naturally. And it also incentivizes crony capitalism.

So unlike democrats who want the government to take care of every single need they have - I am willing to give for the greater good because I'm sick of Californians voting yes on every single tax proposal. The only way to get people to stop doing that is to make the people who pay these taxes MAD. You don't get mad if you can just write the money off on your taxes.

"Which brings us to what is the biggest problem with the Tax Cut and Jobs Act: the people it benefits the most. Here, the broad conesnsus is that TCJA tax cuts are primarily channeled to taxpayer with incomes between $100K and $500K, i.e., the upper middle class and self-employed Americans.

Shown another way, the biggest winners in terms of after-tax income increases are the top quintile and decile of taxpayers, i.e., the top 10% of American wage earners.

And herein lies the rub, because while the TCJA tax cuts is indeed sizable, amounting to over $1 trillion in tax cuts to individuals, those individuals and households who get to benefit the most, are also the ones with the lowest propensities to spend!

This means that just like QE made the rich richer, the reason why the velocity of money crashed to all time lows, is because the same rich did not spend the money, but instead invested it or otherwise saved it, resulting in a slowdown in monetary velocity, and thus, GDP.

And now, it appears that the GOP tax cuts will achieve the same result, and instead of growing the economy, they will simply grow the stock market and the various on and offshore bank accounts of America's richest 1%."