Kevin Warsh Quotes

Monetary policy is a blunt tool which certainly affects the distribution of income and wealth, although whether the net effect is to increase or reduce inequality is not clear.

The main substantive achievement of neoliberalism has been to redistribute rather than to generate wealth and income.

Nothing good can come from the Federal Reserve. It is the biggest taxer of them all. Diluting the value of the dollar by increasing its supply is a vicious, sinister tax on the poor and middle class.

Once you realize that trickle-down economics does not work, you will see the excessive tax cuts for the rick as what they are -- a simple upward redistribution of income, rather than a way to make all of us richer, as we were told.

In the past, Federal Reserve chairmen have not generally gone directly to the public.

Spreading the wealth punishes success while setting America on course for a greater dependency on government.

The Fed is totally open.

I say I don't need a tax cut. It will not do me any more good. I can't buy more, I can't eat more, I can't do more, and I want it distributed among the ordinary people who work every day.

When you have a tax system in which most of the exemptions and the lowest rates benefit the richest, all in the name of job creation, all that happens is that the rich get richer.

Sometime, while I wasn't paying attention, trickle-down economics got respectable.

Bush is giving the rich a tax cut instead of putting that cut in the pockets of working people.

The Clinton administration cared a lot about the middle class and the poor. But it also cared a lot - too much, in retrospect - about the rich.

The tax relief that this Congress has given now in terms of four tax cuts has overwhelmingly gone to the people at the very top of the income scale in America.

'Inequality' has become the political theme/slogan of our time in both Europe and the U.S., yet political leaders do not even bother to consider that their own policies, which put the entire burden on central bankers to print money and drive up stock, bond and other asset prices, are actually exacerbating income and wealth disparity.

Are we interested in treating the symptoms of poverty and economic stagnation through income redistribution and class warfare, or do we want to go at the root causes of poverty and economic stagnation by promoting pro-growth policies that promote prosperity?

I don't believe in trickle-down economics. I don't think that people who have the most are inclined to share it, generally.

All those predictions about how much economic growth will be created by this, all of those new jobs, would be created by the things we wanted - the extension of unemployment insurance and middle class tax cuts. An estate tax for millionaires adds exactly zero jobs. A tax cut for billionaires - virtually none.

If Federal Reserve loans are subsidies, it doesn't show up in the federal budget.

The economy controls the politicians far more than the politicians control the economy.

When you say fiscal responsibility, it seems to me that you really mean rich people keeping their money.

One way to reduce income inequality is to get rid of the rich. If Bill Gates, Warren Buffett, Rupert Murdoch and their billionaire friends could be persuaded to emigrate from the United States, income inequality would decrease overnight.

Our tax system rewards wealth more than it does work.

People at the top spend less money than those at the bottom, so when you have redistribution toward the top, aggregate demand goes down. Unless you intervene, you're going to have a weak economy unless something else happens.

Successful businesses create jobs; that is true. But the notion that if we cut taxes enough for the very rich and for already hugely profitable businesses, then all that money will trickle down to everyone else in the form of job creation is simply false.

The greatest economic power might in fact remain in the hands of the Federal Reserve. Economists credit the Fed's policy of keeping interest rates at historic lows with helping to pump up the economy and bring unemployment down.