Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains.
Michael HudsonThe ideological foundation of today's business schools is that economic control should be shifted out of government hands into those of financial managers - that is, Wall Street.
Michael HudsonWhen you say "paying the banks," what they really mean is paying the bank bondholders. They are basically the One Percent.
Michael HudsonPeople tend to think that paying a debt is like going out and buying a car, buying more food or buying more clothes. But it really isn't. When you pay a debt to the bank, the banks use this money to lend out to somebody else or to yourself. The interest charges to carry this debt go up and up as debt grows.
Michael Hudson