I just read a Mercury News e-edition article on the The Mercury News e-edition app and thought you’d be interested. The piece dealt with the new economy and how the rich dominates……
Some things to think about:
Tax-the-rich dynamics are different this time.
This is so predictable. For the past decade, in Democrat and Republican control, the rich have got a way with bloody murder, in avoiding income and corporate taxes.
Trump’s tax cut was particularly unfair to the middle class. Never mind he said that it would help “His People; the middle class gets screwed; many had their income tax actually go UP under Trump’s tax cut scheme.
Billionaires and Millionaires saw huge increases in their post tax income. In short the “trickle down” concept of economical management by the federal government once again were supreme in policy making for four horrible years under Republican right wing fascist Trump…
And the inevitable has occurred, millions of homeless or almost homeless, are hammering the lower middle class. And as usual, “blame the victims” is the Republican nearly fascist responses to what they created.
There are very few corporate leaders who are Democrats.
The rich run Amerikkka, and are becoming more bellicose and fascist every damned day….
As usual, this huge by-product of a mean spirited tax cut, by Trump, is that the middle class has to hold multiple jobs and many lost their homes or can no longer pay rents, that also went up.
This created homelessness that is now dominant as a caste in the USA. The trickle down economic policy has a done what it always has done, create a homelessness like the Great Depression and great suffering throughout that is fertile ground for fascism that is endemic in the plutocratic upper caste in the USA…..
Truth: Trump’s tax cut caused inflation, that of course the rich can very much handle; but the rest on down, encounter generational poverty even more than before. We are suffering inflation now NOT because of anything Biden has done, but for what Trump did with his unnecessary and unfair tax cut.
I was taught the value of a nation state was in how the lower castes and classes were doing. I was taught to study that the trickle down economics of the rich and the upper middle class was erroneous, that it gave an overly optimistic depiction of the economy, and made poverty grow massively.
And finally the ultimate irony: the source of most of the MAGA movement comes from the lower middle class (what is left of it).
Hillary Clinton made the ultimate mistake in calling this demographic “deplorables”..when in fact, this grouping of people, women and men, simply do not have the income after taxes to own or rent consistently, to send their children to college; etc etc..
I know several of these “deplorables” and they are usually working in several dead end jobs, mostly in the McDonald’s Economy (fast food restaurants, child care if they are lucky; etc).
The rich call them lazy and blame the innocents that they created with their wholesale greed.
How many billions does the owner of Tesla have? How many NFL owners are there who are billionaires?
What the “deplorables” no longer have are manufacturing jobs; these have gone to robotics and then send manufacturing of computers and such overseas; for example; not one Apple product is made in America. Refrigerators, ovens, even automobiles are now mostly made overseas or in Latin America. Most of these products are never touched by human hands until they are installed. Manufacturing jobs in most countries are gone for good.
Not one adjustment to policy was made in ANY of these countries that now use robotics for manufacturing. The only adjustment is making tax cuts for the rich, BECAUSE THEY ARE MAKING SO MUCH MONEY THAN EVER BEFORE!
This is why the “deplorables” now vote Republican, because Trump is a really good liar; using their mis-guided LYING anger at immigrants from Mexican for example. They blame Mexicans for example for taking their jobs. Of course they know the “deplorables” cannot stop to think: “Then why do those who will take my manufacturing when robots took the immigrants jobs and then in desperation emigrate to Amerikkka?”
The immigrants are doing exactly what say the Irish did in the 1800s, fleeing a bad economy for “Greer pastures” and discover that industrialization is global, and they have run from a no job for lower castes (except slavery) to a worse situation.
In short nobody except Trumps plutocratic friends. This even applies to Russian where Putin is waging war to enrich himself and his plutocracy with no care for the lower castes that is in fact fighting and dying for a cause that is set for making his plutocratic fascist friends richer.
For example, Putin comes from humble economic background to very rich, precisely for the same reasons that propelled Trump into being rich; screwing the middle class!
The primary reason for immigration is that most of this migration from central and South America comes due to global warming, that Republicans call a hoax as Trump taught them; not because they are looking for manufacturing jobs in Amerikkka.
There are no manufacturing jobs to of any size demographically left in Amerikkka.
Those jobs are in the very countries they are leaving; took their places in manufacturing are also lost to robotics. Most of the manufacturing industry is robotic now…leaving a fraction of the good jobs it used to foster..
What this ultimately means is a wholesale change for the middle class around the world, that is fueled by the rich running the economy everywhere AND global warming, that is destroying agriculture the closer you get to the equator.
To make economic policy that alleviates this mess, is almost impossible as long as Amerikkka buys the lie that the “trickle down economy works”..
It never has and never will!