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Posts Tagged ‘government’

President Donald Trump is proposing more tax cuts for the rich. He claims there will be no loss of federal revenue with his tax cuts. This is the standard Republican Party Establishment lie.

Given that Trump’s plan is similar to what Trump proposed on the campaign trail, the Committee for a Responsible Federal Budget (CRFB) did a rough cost estimate of his latest ideas and concluded they could cost $5.5 trillion in lost revenue during the first decade.

CRFB estimates the overall cost could go as high as $7 trillion if limits on tax breaks that the plan suggests apply only to high earners. Or the cost could fall to $3 trillion “assuming credits and exclusions are eliminated as well as deductions.”

This means sharp cuts to programs the middle class and poor need, while, no doubt, keeping welfare programs for the rich, such spending more on the military than the next 25 nations combined, 24 of whom are US allies. Corporate subsidies are also welfare for the rich since they help keep corporate profits and the stock market bubble growing, all of which mostly redounds to the rich.

Oh, and we can’t forget the next biggest lie; tax cuts for the rich trickles down the the 99 percent in the form of jobs. There is not one shred of evidence that giving tax cuts to the rich has created a single net job. There is plenty of evidence, on the other hand, that tax cuts for the wealthy have destroyed millions of US jobs.

That’s because the rich usually invest their tax cuts gains in the stock, bond and political markets. They buy up politicians by the barrel full and then have their politicians pass legislation that will keep inflating their stock, bond and housing bubbles, which means exporting millions of jobs overseas and then redistributing the difference between the old higher US pay and the new lower third world slave labor pay to the rich via higher corporate profits, surging stock and bond markets, and rising dividends.

In the meantime, due to the reduced tax revenue, our roads and bridges will continue to crumble, our public schools will continue to be financially gutted, the cost of entering a public park will continue to rise, the unemployment rate will rise, and so on and so forth.

Don’t be fooled by the same lies President Ronald Reagan and Dick Cheney and Arthur Laffer fed us. Tax cuts for the rich will not pay for themselves, nor will they create jobs, but they will corrupt your government more, and it is already the most corrupt in the developed world. Both major political parties are corrupted to the core.

 

This suggests that any working class concerns addressed by Trump during the campaign has been rendered moot. Trump, in other words, is now completely owned and 100 percent influenced by Wall Street and the Republican National Committee and their corporate owners.

By the way, a story in Newsweek puts it a little less scary than I. “‘…while major tax cuts have been enormously beneficial to the wealthy by reducing their taxes and increasing their incomes the most, the distribution of benefit for working people has been comparatively negligible. That is not the argument of some liberal politician—it was the finding of Martin Feldstein, the chief economic adviser to President Ronald Reagan, in his analysis of the Tax Reform Act of 1986.'”

Feldstein, in other words, said the creation of jobs by tax cuts for the rich “has been comparatively negligible.”

Click here for the full Newsweek story.

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The fastest growing food segment is organic. More and more people are buying organic foods. That’s because they’re healthier than the GMO garbage the major food companies are selling you.

Costco has been crowned the new king of organic groceries. The company’s sales of organic foods increased by a whopping $1 billion in just 6 months. It’s mind boggling. If that’s not enough, Costco is committed to continue the expansion of their organic offerings. Costco has been quietly beefing up its offerings of organic foods for years.

GMO foods have been linked to a number of health issues, such as tumors and allergies. They’ve also been linked with autism, obesity and a variety of cancers. So more people are making the choice to eat healthy, and Costco is leading the way.

The US Food and Drug Administration first approved allowing GMO’s into the US food chain back in the mid 1990s even though they’d been tested a whopping three months for safe human consumption. That is how corrupt your government was back then, and it’s even more corrupt nowadays.

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How things have changed! Back in the 1960’s, Rachel Carson’s book Silent Spring warned about the human health dangers caused by insecticides. Industrial pollution ensured that US lakes and rivers caught fire. In 1970, conservative Republican US President Richard Nixon signed the legislation creating the Environmental Protection Agency (EPA). The EPA’s job was to clean up the pollution. The result is that much of that US industrial pollution has been exported to China, India and elsewhere.

US business leaders have long chafed under the chains of the EPA. The more pollution these folks are allowed to create, the more profits their corporations earn, the higher corporate share and bond prices rise. So big business has conspired to takeover the EPA, so as to bend the rules to their favor.

Scott Pruitt, a loyal servant of the profit needs of big oil now heads the EPA. President Franklin Roosevelt once said that businessmen had made certain that government had become an appendage of their profit making before he took office. Pruitt is now in position to ensure the EPA does not do its job in the USA. So expect human health considerations to be shunt aside in favor of the profit desires of big oil and Koch Industries, because as Attorney General of Oklahoma, that is precisely how he defined his job, as you can see from the video above.

Most of the politicians governing the US today are among the most corrupt in world history, and that includes US corporate apparatchiks, such as Mitch McConnell and Ron Wyden.

Think about this. Nixon is considered to have been one of the most corrupt president’s in US history. He was a man who’s crimes were considered so great that he was forced to resign from his office. Yet he ignored the advice and bribes of his corporate sponsors to create the EPA. And the crimes he committed pale in comparison to President Bush lying us into war, or to embroil us in the Iran-Contra scandal.

Something has gone terribly wrong with the USA since Nixon. Crimes are committed by people in high office, and there is no concern for punishment, because the criminals are in charge of the white house, the senate, the US house of representatives, and the US supreme court. There’s no one to answer to for ones crimes in government nowadays. The US government is rotten through the core with corruption.

Yet, there is an economic hurricane just around the corner. When that hits, we’ll be able to clean house, like FDR did in 1933. Get ready.

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As President-elect Donald Trump takes office today, January 20, 2017. the Pew Research Center reports “the public has starkly different expectations about which groups in society will gain influence – and those that will lose influence – under his administration.

Nearly two-thirds of Americans (64%) say wealthy people will gain influence in Washington when Trump takes office. Just 8% say they will lose influence, while 27% expect the wealthy will not be affected.”

I agree with the 27 percent who say the wealthy will not be affected. The reason is simple. The rich already control both major political parties, and through them, the rich control the federal government, virtually all state governments, and most big city governments, as well as a lot of local governments.

The wealthy are not going to improve upon that score a whole lot under Trump. Control of the legislative process has been the primary means by which the 1 percent has methodically increased its share of wealth and income of the United States year after year for the last thirty-five years.

That’s why the 64 percent who say wealthy people will gain influence are wrong inasmuch as wealthy people have so much power they can’t possibly gain anymore.

The difference is that those rich folks who use the Democratic Party as a vehicle to control the mechanisms of government and to profit via those mechanisms, have lost influence. Think Warren Buffett, George Soros, Bill Gates and other Democratic Party billionaires. Their rivals who control the Republican Party will gain influence at their expense.

Those Republican billionaires include Sheldon Adelson, Donald Trump, Charles and David Koch, hedge fund managerz Paul Singer and Robert Mercer, and a lot of other Wall Street investors.

Together, the billionaire Democrats and billionaire Republicans form a kind of good old boy network with some rivalries among them. They also control the media in such a way as to ensure we don’t see this, although it’s pretty obvious.

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20150224_problemThe financial collapse of 2008 was the worst recession since the Great Depression. Give President Obama and his administration credit for saving the economy from the depredations of Wall Street despite massive Republic resistance to resuscitating it, which they did solely for political gain. However, this historically weak recovery masks a startling reality.

Only one perpetrator of Wall Street crimes was ever brought to justice, and he wasn’t a big figure in the massive corruption going on. In March 2009, Obama met with Wall Street leaders and said, “I stand between you and the pitchforks. I am on your side and I will protect you.”

Only one banker from that era was prosecuted. That was Bernie Madoff, and the only reason he was carted off to prison was because he stole from rich people. And not one other Wall Street criminal executive went to jail after stealing billions via fraud, money laundering of Mexican drug cartel profits, and numerous other crimes. Many became his financial advisers, which meant Obama pursued policies to redistribute income from the 99 to the 1 percent for eight long years.

At all times, Obama refused to bite the hand that funded his past, present and future, as well as funding much of the Republican and Democratic Parties. In other words, Obama was largely, if not completely, in the back pocket of Wall Street as were President Bill Clinton, both President’s Bush, Ronald Reagan, Hillary Clinton, Mitt Romney, Wall Street Senator’s Ron Wyden, Mitch McConnell and Orrin Hatch.

Obama operated in a cesspool corruption. He was part of the problem, not the solution.

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John Oliver asks the right question. “What does congress really do?” The answer is that every senator and ever congress person must spend several hours every day raising money, or what are called campaign contributions. Pay careful attention to Oliver’s presentation of Congresswoman Eleanor Norton Holmes call to a prospective campaign donor. Norton actually says she’s working in congress on behalf of the donor, and this might be against the interests of everybody else.

There’s one more thing quite interesting. Every member of the US congress that belongs to the Republican or Democratic Party must raise sizable amounts of cash to give to the party.

The whole process of congressional representatives having to raise millions of dollars a year, even when they are in safe districts, demonstrates how easily corrupted the US government has become since every politician is at the mercy of those campaign contributors.

Worse yet, many of these campaign contributors put out bait to political office holders, like swanky vacations, thousands of dollars of speaking fees while in office, and high paying jobs once they’re out of office, to US representatives. Overall, the US congress and the White House are pigsty’s of corruption.

 

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Franklin Roosevelt

The next recession is unfolding, and it’s going to be the worst one since the Great Depression. I’ve been watching this historically weak US economic expansion unravel since November 2015. See https://johnhively.wordpress.com/2015/11/06/the-coming-recession-and-us-senator-elizabeth-warrens-seniors-and-veterans-emergency-benefits-act-save-benefits-act/. We will officially go into recession somewhere between late this year and June 2017.

Nothing can stop it. Not declining gasoline and oil prices, not falling interest rates.

The corrupt US government has passed legislation over the decades that have redistributed massive amounts of income and wealth from the 99 to the 1 percent. The 1 percent currently steal over 37 percent of all income produced in the US compared to 8 percent in 1980. See https://johnhively.wordpress.com/2015/12/29/new-study-the-middle-class-is-losing-ground-as-wall-street-senators-ron-wyden-mitch-mcconnell-orrin-hatch-and-others-continue-to-use-the-federal-government-and-the-federal-reserve-to-redistribute/. Now the 99 percent can’t purchase enough goods and services to keep the economy and the financial markets chugging along. The economy is set to collapse upon itself. However, there is even worse news.

Sometime between the November elections of 2016 and whenever the new president is inaugurated Wall Street Senator Ron Wyden will introduce the Trans Pacific Partnership (TPP) into committee. This is the largest income and political power redistribution scam in world history. The TPP is falsely marketed as a trade agreement, but it has virtually nothing to do with trade.

President Obama, ever the servant of Wall Street executives, has already signed this scam without a single word of debate in the halls of one of the most corrupt political bodies in the world–the US congress. So the TPP becomes law, unconstitutionally at that, if it passes through the US House and the US Senate.

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The TPP will only make matters worse for the 99 percent as this recession swings into full gear. The TPP will redistribute trillions of dollars of income from the 99 to the 1 percent on a yearly basis, as well as steal their state and local voting rights in many cases.

Here’s how bad this coming recession will be without the TPP:

* Effective interest rates will sink into negative levels, like in Europe.
* The nation will flirt with deflation, and possibly fall into it, because trillions of dollars have been redistributed from the 99 to the 1 percent, so demand for goods and services will be weaker than at any time since the Great Depression.
* Instead of 48 million Americans on food stamps, like during the current so-called economic expansion, 60 to 90 million Americans will be on food stamps.
* Unemployment will hit 10 to 18 percent, and will stay above 10 percent for years.
* Mortgage defaults will hit record levels.
* Home prices will decline 20 to 60 percent, and maybe more.
* On average, stocks will lose 20 to 60 percent of their values, and maybe more.
* We’re still feeling the impact of the last recession, and so too will we feel the impacts of this recession for years and years unless….
* Anticipate a possible political revolution as grassroots insurgents take over both major political parties. Think Bernie Sanders and Elizabeth Warren for the Democratic Party, and who knows for the Republican Party?
* Anticipate possible violence as the police and military crack down on protesters.
* Anticipate a US political and economic rejuvenation after many years of hard struggle. People like Wyden, one of the principal architects of this recession, will be a historical footnote.

This Depression will be worldwide.

Imagine what this recession will be like with the TPP.

Now, if we can just stop Wyden and the TPP in congress, that will make our task of a restored America for everyone much easier in the long run. And it will be in the long run that we win.

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