“The multitrillion-dollar bailout of Wall Street, sanctioned with the nearly unanimous support of Congress in late March, produced massive growth in the wealth of the oligarchy. On Tuesday, Forbes published its latest update on the wealth of American billionaires, reporting that the wealth of the richest 400 people has reached a record $3.2 trillion, up $240 billion from a year ago.”
“A massive diversion of social resources away from the bailout of the rich and the financing of militarism and war is required. The wealth of the oligarchs must be seized, and the gigantic corporations and banks turned into public utilities to create the conditions for a globally coordinated program to save lives.”
The Civil War Election 9 September 2020 The US presidential election is now eight weeks away. The campaign between Trump and Biden is pitting an administration that is making an increasingly open appeal to violence and police state repression against a Democratic Party campaign that, as always, offers no genuine alternative to the drive toward authoritarianism and war.
The Trump administration is utilizing the election campaign in an attempt to build up a right-wing, fascistic movement on a ferociously antisocialist basis. Trump has followed up his praise of Kyle Rittenhouse, who murdered two protesters and injured a third in Kenosha, Wisconsin last month, with calls for vengeance directed against opponents of police violence.
At his press conference on Monday, the president hailed the killing of protester Michael Reinoehl by US Marshals last week. “If somebody is breaking the law, there has got to be a form of retribution,” Trump declared, condoning extrajudicial reprisals from his supporters. The same day, he retweeted a statement from right-wing commentator Dinesh D’Souza declaring that political unrest would lead to the “rise of citizen militias around the country”—that is, fascistic vigilante organizations like Patriot Prayer, responsible for terrorizing protesters in Portland, Oregon.
As noted, Trump is not running for president; he is running for Führer. His campaign seems to be modeled on Hitler’s bid for German chancellor in 1932. Using language that is unprecedented in American history, Trump is seeking to create conditions, regardless of the outcome on November 3, in which he will emerge as the leader of an extra-constitutional, right-wing movement.
There is no doubt that if Trump wins, he will immediately escalate the suppression of democratic rights and implementation of police state forms of rule.
Under these conditions, the argument of the Democratic Party is that all opposition to Trump must be directed behind the election of Biden. For workers to allow their struggles to be subordinated to the electoral considerations of the Democratic Party, however, would be a fatal political error.
Trump did not emerge from nowhere. He expresses in the most unvarnished form the essentially fascistic, antidemocratic impulse of the American ruling class as a whole. That Trump is not some sort of demon unleashed from hell is revealed in the fact that the growth of authoritarianism and fascism is a universal phenomenon, from Brazil and India to France and Germany.
The working class must direct its opposition to the underlying disease of which Trump is an expression. What are the conditions that are fueling this crisis?
First, the coronavirus pandemic has exposed the catastrophic state to which capitalism has driven society. It is an extreme expression and product of the subordination of everything to the profit interests of the corporate and financial oligarchy.
The ruling class has effectively adopted a policy of “herd immunity,” allowing the virus to spread without restraint. The back-to-work campaign, spearheaded by Trump but implemented by both the Democrats and Republicans, has already led to an enormous surge in the death toll, which is now approaching 200,000 people. The University of Washington now estimates that the number of deaths by the end of the year could rise to above 400,000.
Second, alongside the health impact of the pandemic is a deepening social and economic crisis for millions of people. Despite the back-to-work campaign, there are more than 11 million fewer jobs now than before the pandemic hit. It is six weeks since Congress allowed federal unemployment benefits to expire, throwing millions into poverty. The number of Americans facing hunger this year is projected to increase by 45 percent, to more than 50 million.
The multitrillion-dollar bailout of Wall Street, sanctioned with the nearly unanimous support of Congress in late March, produced massive growth in the wealth of the oligarchy. On Tuesday, Forbes published its latest update on the wealth of American billionaires, reporting that the wealth of the richest 400 people has reached a record $3.2 trillion, up $240 billion from a year ago.
Third, the deepening economic, social and political crisis increases the danger that the ruling class will see war abroad as a means of resolving its problems at home. Trump is making aggressive moves in the South China Sea as part of its offensive against China, while the Democrats, if they come to power, are committed to an intensification of the conflict with Russia and war in the Middle East.
To downplay, let alone deny, the fact that the Trump presidency is metastasizing rapidly into a right-wing authoritarian regime, with distinctly fascist characteristics, is to close one’s eyes to political reality. The old refrain, “It can’t happen here”—i.e., that American democracy is eternally immune from the cancer of fascism—is hopelessly out of date. The very fact that a thug like Trump ascended to the White House testifies to the terminal crisis of the existing political system.
These processes have only intensified over the past year, vastly accelerated by the coronavirus pandemic. Trump’s fascistic rhetoric is an attempt to beat back a growing social movement of the working class against the policies of the corporate and financial oligarchy.
BLOG EDITOR: THERE IS A REASON WHY WALL STREET AND THE BANKSTERS STAND BEHIND BIDEN AND KAMALA HARRIS! THEIR RECORD OF PROTECTING AND BAILING OUT BANKSTERS IS DOCUMENTED.
The Democratic Party, however, represents another faction of the same oligarchy. Its appeal is to dominant factions of the military and the intelligence agencies as the arbiters of political power to whom it will turn if Trump refuses to leave office. Its main aim is to suppress any form of social opposition that threatens the interests of the ruling elite.
Over the past week, Biden has denounced protests over police violence, attacked socialism, and made clear that he will run his campaign on the most right-wing basis possible. In the final stages of the election, the Democrats are attempting to revive their anti-Russia campaign to ever more explicitly target left-wing opposition within the United States as the work of “foreign adversaries.”
Biden presents himself as the “man in the middle” under conditions of a developing civil war situation. His campaign offers nothing to address the social catastrophe confronting masses of people. The Democrats’ open embrace of militarist violence—welcoming as part of their “coalition” the leading architects of the Iraq war—even allows the fascistic Trump to posture as an opponent of the “military-industrial complex.”
BLOG EDITOR: THE BIGGEST WAR PROFITEER IN U.S. HISTORY IS SEN. DIANNE FEINSTEIN, ALSO AGENT FOR RED CHINA. SHE HAS ENDORSED BIDEN WHOLEHEARTEDLY.
The Democrats are above all opposed to raising any issues that undermine the economic and financial interests of the ruling elite. An indication of the social policies that a Biden campaign would pursue if in office was given in an article published in the Washington Post on Monday. Referring to the economic proposals released by the Biden campaign—consisting of milquetoast reforms that were the product of discussions with the “Sanders-Warren” wing of the party—the Post wrote:
But in private calls with Wall Street leaders, the Biden campaign made it clear those proposals would not be central to Biden’s agenda. “They basically said, ‘Listen, this is just an exercise to keep the Warren people happy, and don’t read too much into it,’” said one investment banker, referring to liberal supporters of Sen. Elizabeth Warren (D-mass.). The banker, who spoke on the condition of anonymity to describe private talks, said that message was conveyed on multiple calls.
The Democratic Party, for all its denunciations of Trump, makes no mention of the essentially fascistic character of the policies he is pursuing. It should be recalled that even though Trump lost the last election by three million votes, the immediate response of the Democratic Party was to offer its collaboration. The election, Obama said, was an “intramural scrimmage” between two sides of the same team.
If the Democrats were to lose on November 3, or even if they were to win, the response would be no different. They would immediately offer an olive branch to Trump and the Republican Party.
The ability of Trump to attract and maintain a following is largely a product of the inability of the Democrats to offer anything to address the social crisis. In the end, the actual differences are marginal, focused above all on foreign policy. The fact that the contest is even close, under conditions of mass death and social devastation, is an indictment of the Democratic Party. It is incapable of making a popular appeal precisely because of the class interests that it represents.
The strategy of the working class cannot be guided by the arithmetic of an election, but the logic of the class struggle.
This is combined with the continued protests over police violence and racism, sparked in late May by the murder of George Floyd. While fueled by the unending epidemic of police violence, the protests have given expression to deep social anger and a desire among millions of workers and youth to fight back.
The struggles of different sections of the working class must be organized and united through the formation of independent factory, workplace and neighborhood safety committees. The fight of teachers against the back-to-school campaign must be connected with the fight of students against the reopening of the universities, the fight of workers against the horrific conditions in the plants, the fight of the unemployed against social devastation, and the fight of the youth against police violence.
At issue in every struggle is the question of political power: What class rules and in whose interests. The only solution to the crisis is one that is directed against the capitalist system. A massive diversion of social resources away from the bailout of the rich and the financing of militarism and war is required. The wealth of the oligarchs must be seized, and the gigantic corporations and banks turned into public utilities to create the conditions for a globally coordinated program to save lives.
The fight against the pandemic is not primarily a medical question. As with every great problem confronting the working class—social inequality and poverty, war, environmental degradation and dictatorship—it is a political and revolutionary question, which raises the need for the working class to take power in its own hands, overthrow capitalism, and restructure all of society on the basis of social need.
ALL
BILLIONAIRES ARE DEMOCRATS. ALL
BILLIONAIRES WANT OPEN BORDERS FOR
MORE CHEAP
LABOR AND NO CAPS ON
IMPORTING CHINESE AND INDIANS TO
WORK OUR TECH JOBS CHEAP.
Obama’s State
of Delusion ... OR JUST ANOTHER "Hope & Change" HOAX?
”The
delusional character of Obama’s State of the Union
address on
Tuesday—presenting an America of rising living
standards and
a booming economy, capped by his declaration
that the
“shadow of crisis has passed”—is perhaps matched
only in its
presentation by the media and supporters of the
Democratic
Party.”
http://mexicanoccupation.blogspot.com/2015/01/oxfam-richest-one-percent-set-to.html
“The general
tone was set by the New York Times in its lead editorial on Wednesday, which
described the speech as a “simple, dramatic message about economic fairness,
about the fact that the well-off—the top earners, the big banks, Silicon
Valley—have done just great, while middle and working classes remain dead in
the water.”
OBAMANOMICS:
The report
observes that while the wealth of the world’s 80 richest people doubled between
2009 and 2014, the wealth of the poorest half of the world’s population (3.5
billion people) was lower in 2014 than it was in 2009.
http://mexicanoccupation.blogspot.com/2015/01/oxfam-richest-one-percent-set-to.html
In 2010, it
took 388 billionaires to match the wealth of the bottom half of the earth’s
population; by 2013, the figure had fallen to just 92 billionaires. It fell to
80 in 2014.
THE OBAMA
ASSAULT ON THE AMERICAN MIDDLE-CLASS
“The goal of
the Obama administration, working with the Republicans and local governments,
is to roll back the living conditions of the vast majority of the population to
levels not seen since the 19th century, prior to the advent of the eight-hour
day, child labor laws, comprehensive public education, pensions, health
benefits, workplace health and safety regulations, etc.”
http://mexicanoccupation.blogspot.com/2015/01/oxfam-richest-one-percent-set-to.html
“In response
to the ruthless assault of the financial oligarchy, spearheaded by Obama, the
working class must advance, no less ruthlessly, its own policy.”
New Federal Reserve report US
median income has plunged, inequality has grown in Obama “recovery” The yearly income of a typical US household dropped by a
massive 12 percent, or $6,400, in the six years between 2007 and 2013. This is
just one of the findings of the 2013 Federal Reserve Survey of Consumer
Finances released Thursday, which documents a sharp decline in working class
living standards and a further concentration of wealth in the hands of the rich
and the super-rich.
THE DEMOCRAT PARTY’S BILLIONAIRES’
GLOBALIST EMPIRE requires someone as ruthlessly dishonest as Hillary Clinton or
Barack Obama to be puppet dictators.
1. Globalism: Google
VP Kent Walker insists that despite its repeated rejection by electorates
around the world, “globalization” is an “incredible force for good.”
2. Hillary Clinton’s Democratic
party: An executive nearly broke down crying
3.
Immigration: Maintaining
liberal immigration in the U.S is the policy that Google’s executives discussed the
most.
Why the rich favor the Democrats
By Peter
Skurkiss
There's little doubt that today's Democrat Party
is the party of the rich. Actually, that's an
understatement. Far more than billionaires are involved. A better
expression of reality would be to say a fundamental core of Democrat coalition
is the managerial class, also known as the elite. These are the
people who run the media, Hollywood and the entertainment industry, the big
corporations, the universities and schools, the investment banks, and Wall
Street. They populate the upper levels of government
bureaucracies. These are the East and West Coasters.
The alliance of the affluent with the Democrat
Party can be seen in the widely disproportionate share of hefty political
donations from the well-to-do going to Democrats and a bevy of left-wing
causes. It's also why forty-one out of the fifty wealthiest
congressional districts are represented by Democrats.
BLOG: DEMS LOVE SOCIALISM FOR ILLEGALS TO KEEP
THEM COMING AND BREEDING ANCHOR BABIES FOR WELFARE AND SOCIALISM FOR BANKS.
TRILLIONS OF DOLLARS OF IT!
Bernie Sanders is an
exception. But he's an anomaly viewed as dangerous to the party,
which is why he's being crushed by the Democrat establishment.
Why do the wealthy align with the
Democrats? The answer may seem counter-intuitive, but it is really
quite simple. It's surely not ideals or high-minded
principles. Nor is it ignorance. Rather, it boils down to
raw self-interest.
In his book , The Age of
Entitlement: America Since the Sixties , Christopher Caldwell notes
that rich Americans think themselves to be as vulnerable as
blacks. They are a relatively small minority of the
population. They fear being resented for their wealth and power and
of having much of that taken from them. Accordingly, the wealthy
seek to protect what is theirs by preventing strong majorities from forming by
using the divide and conquer principle.
As R.R. Reno writes when reviewing
Caldwell's book: "Therefore, the richest and most
powerful people in America have strong incentives
to support an anti-majoritarian political system." He goes
on: "Wealthy individuals shovel donations into elite institutions that
incubate identity politics, which further fragments the nation and prevents the
formation of majorities."
Some of the rotten fruit of the wealthy taking
this approach include multiculturalism, massive immigration of diverse
people, resistance to encouraging assimilation, racial strife, trying
to turn white males into pariahs, and the promotion of gender
confusion. Through it all, society is bombarded with
the Orwellian mantra that "diversity is strength," as if
repeating it often enough can make it so. It is also why patriotism
and a common American culture are so disparaged today. Those from
the upper strata of society project the idea that if you're a flag-waving
American, you must be some kind of retrograde mouth-breathing
yokel.
The wealthy as a groups are content to dissolve
the glue that holds the U.S. together. And it is all done to enhance
and preserve their power, wealth, and influence. This is why they so
hate Donald Trump. He strives to unite people and the country,
although you'd never know that that is what the president is
doing if you live in the media
bubble. Trump's MAGA agenda is an anathema to the
managerial class.
To quote Reno one final time:
The next decade will not
be easy. But it will not be about what preoccupied us in the
sixties, and which Caldwell describes so well. Rather than the
perils of discrimination we are increasingly concerned with the problem of
disintegration — or in Charles Murray's terms, the problem of "coming
apart."
Trump and the GOP he is molding are the vehicles
to restore and strengthen national solidarity. Trump said at the Daytona 500,
"No matter who wins, what matters most is God, family, and
country." That is not the Democrat agenda. As
seen in Democrat politicians, their policies, and the behavior of their major
contributors, the aim is to further weaken the social and national bonds in America. There is
a lot at stake here. If solidarity wins, the Republic can survive
and prosper. If the Democrats and their wealthy cohorts do,
then the middle class withers, the Republic dies, and the rich and their
managerial class get to rule the roost. That is what it comes down
to.
ALL BILLIONAIRES ARE DEMOCRATS. ALL
BILLIONAIRES WANT WIDER OPEN BORDERS, AMNESTY AND HELL NO TO E-VERIFY!
In addition, establishment Republicans are no
better than Democrats at stemming the flow of illegal immigration because big
businesses reap the benefits of this cheap labor
without incurring any of the social costs.
This is why
the SEIU supports blanket amnesty for illegal aliens.
Democrats:
The Party of Big Labor, Big Government...and Big Business By Antonio R. Chaves
There
is a widespread perception that the Democrat Party is the party the working
class and the Republican Party is the party of big business. Even
though Republicans on average received slightly more from corporate employees
prior to 2002, the overall difference between both parties from 1990 to 2020 is
statistically insignificant (Table 1). In fact, Democrat
reliance on big labor gradually shifted toward big business following the
involvement of solidly Democrat corporate giants in 2002, and from 2014 to
2020, Democrats consistently surpassed Republicans in corporate donations
(Tables 1 & 2).
Based
on data compiled by Open Secrets, Soros Fund Management, Fahr LLC (Tom Steyer),
and Bloomberg LP ranked among the top ten for political contributions that gave
over 90% to Democrats. In sharp contrast, the right-leaning Koch
Industries made the top ten only in 2014. In nearly all other years,
Koch ranked well below the top twenty.
Whether
or not this trend is long-term, there is no denying that large corporations on
average no longer lean right. But what does it mean to be "the
party of big business"? Donations are not definitive
evidence. What ultimately matters is what politicians do once they
get elected.
Many
liberals believe that big government is needed to "rein in" big
business and that in the absence of federal intervention, corporations will
"run roughshod" over the average American. Many liberals
also believe that corporations are the main beneficiaries of laissez-faire
economics and that free-market conservatives who want to scale back regulations
are somehow "in the pocket" of big business.
In
reality, the opposite is true: big business and big government
go
hand in hand because government meddling in the economy
encourages rent-seeking by businesses that
can afford to pay
for
the lobbyists. This crony capitalism grew exponentially as
a result
of New Deal regulations that squeezed out competitors
during
the 1930s. Establishment politicians and well
connected corporations
are beneficiaries of the myth that big
government
and big business are adversaries because it hides
their
unholy alliance.
In
all fairness, neither party has had a monopoly on the dispensation of corporate
welfare: the TARP funds that propped up financial institutions deemed "too
big to fail" during the Great Recession were released by the Bush
administration. In addition, establishment Republicans are no better than
Democrats at stemming the flow of illegal immigration because big
businesses reap the benefits of this cheap labor
without incurring any of the social costs.
If
both parties are playing this game, what is the basis for labeling the Democrat
party "the party of big business"? What policies from
Republicans support small business?
Free-market
conservatism benefits small businesses because the government does not pick the
winners and losers by means of subsidies, tax breaks, and cumbersome
regulations. You will not see policies like these coming from
Washington in a major way because proposals for shrinking the federal
government rarely see the light of day in Congress.
Based
on data collected by Gallup and Thumbtack, red states far outscore blue states
in small business friendliness (Table 3). This may be why less
affluent Americans are fleeing states that score abysmally like California , Illinois , New York , and Hawaii . This might
also be why small business–owners are more likely to vote Republican .
The
Trump administration has been good for businesses of all sizes mainly due to
the unprecedented rate at which it scaled back stifling regulations . This may be
why some of the president's highest approval ratings now come from
small businesses.
Donald
Trump set himself apart from the ruling class when he latched onto the
third-rail issue of illegal immigration and called out the corporate darling Jeb Bush (AKA
"Low Energy Jeb") for his lack of grassroots support. This
may explain in part why Bain Capital, the firm co-founded by Mitt Romney,
switched teams and contributed solidly Democrat in 2018 . In 2012,
Democrats accused Bain Capital of destroying jobs by systematically dismantling
the companies it bought off. Times have changed...
Small
businesses generate well over half of all new jobs . Most
importantly, many are family-owned, have strong ties to their communities, and
provide upward mobility for millions of Americans who never attended
college. The Democrats' undermining of this quintessentially
American institution is shameful and disqualifies it as the "party of the
working class." Contributions from big labor do not count
toward "labor-friendliness" because mega-unions care more about
recruitment than about the welfare of working Americans. This is why the SEIU
supports blanket amnesty for illegal aliens.
Democrats
fed up with the corporate status quo are now choosing their own
anti-establishment candidate, not realizing that socialism is just a more
impoverished version of the crony capitalism they are
rejecting. Many Sanders-supporters are also morally shallow because
they want to harness the power of the state to muscle in on the wealth of
Americans who borrowed responsibly and worked hard to pay their bills.
After
the Constitutional Convention, Benjamin Franklin said, "This Constitution ... is
likely to be well administered for a course of years, and can only end in
despotism ... when the people shall become so corrupted as to need despotic
government." If Democrats implement the dystopian policies of California
on a national level, their corporate allies will do fine. It is
small business–owners and working-class Americans with nowhere to flee who have
the most to lose. Be careful what you wish for.
To view the tables below, click the links.
Table 1 : Top contributors to Democrats and Republicans as compiled
by Open Secrets .
*The red lettering highlights a funding
advantage for Republicans. The blue lettering highlights a funding
disadvantage for Republicans.
**Based on a T-test, the difference is
insignificant at P = 0.46
Table 2 : Top ten contributors to Democrats and Republicans by category
(union, corporate, and ideological) as compiled by Open Secrets :
*In 2008 Goldman Sachs donated 74% to
Democrats. All other groups in this column donated between 40 and
69% to both parties. This column does not differentiate between
giving equally to both parties and giving 70–79% to Democrats or Republicans.
**This number includes the "City of
New York." Although it is officially listed as
"other" by Open Secrets (not corporate, union, or ideological), I was
personally informed by someone from the organization that Michael Bloomberg was
the main source of this funding.
Table 3 : Small business scores states scored by Thumbtack ranked
according to their Democratic advantage by Gallup :
*GPA scores are based on the following
numerical equivalents: A = 4, B = 3, C = 2, D = 1, F = 0, A+ = 4.3, A- = 3.7,
etc.
** Not scored.
***Mean GPA ± standard error. Based on a
T-test, the difference is significant at P = 0.00001.
Grim Reaper Mitch to Pelosi: I'm
Going to Kill Your Stimulus Plan Matt Vespa
House
Speaker Nancy Pelosi just got some bad news from Mitch McConnell. Any talk
about another stimulus isn’t going to happen. She may draft a bill, but it’ll
meet a swift death in the Republican-controlled Senate. Mitch is the legislative
grim reaper for most of what the Democratic House sends his way (via The Hill ):
Senate Majority
Leader Mitch McConnell (R-Ky.) hit the brakes Tuesday on Speaker Nancy Pelosi’s
(D-Calif.) plan to move ahead with a fourth stimulus package that would include
major infrastructure spending and other Democratic priorities.
“I think we need
to wait a few days here, a few weeks, and see how things are working out,”
McConnell said on “The Hugh Hewitt Show.”
“Let’s see how
things are going and respond accordingly,” he added. “I’m not going to allow
this to be an opportunity for the Democrats to achieve unrelated policy items
that they would not otherwise be able to pass.”
McConnell's remarks came the same day that President Trump
encouraged Congress to pass a $2 trillion infrastructure bill as the next piece
of coronavirus legislation.
Pelosi
is also mulling a rollback of the SALT taxes, which would be nothing short of a giveaway to
millionaires. And by the
giveaway, it would be something of a $620 billion tax cut for them. Remember,
this is the party of the working people, or so they say, and a part of me hopes
she goes aggressive on this, so we can see Bernie Sanders gum up the Democratic
works for a bit. There is no way a
hardcore lefty would back this nonsense. Yet, there’s another reason why Mitch
isn’t rushing on the House Democrats’ stimulus reloaded plans. They’re off.
They won’t be back to work until April 20. And The Hill
THE OBAMA –
BIDEN BANKSTERS CON JOB STARTED BEFORE HIS FIRST DAY IN OFFICE!
GET THIS
BOOK!
Obamanomics:
How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate
Lobbyists, and Union Bosses
BY TIMOTHY P
CARNEY
Editorial
Reviews
Obama Is
Making You Poorer—But Who’s Getting Rich?
Goldman Sachs, GE, Pfizer, the United Auto Workers—the same
“special interests” Barack Obama was supposed to chase from the temple—are
profiting handsomely from Obama’s Big Government policies that crush taxpayers,
small businesses, and consumers. In Obamanomics, investigative reporter Timothy
P. Carney digs up the dirt the mainstream media ignores and the White House
wishes you wouldn’t see. Rather than Hope and Change, Obama is delivering
corporate socialism to America, all while claiming he’s battling corporate
America. It’s corporate welfare and regulatory robbery—it’s Obamanomics.
Congressman Ron Paul says, “Every libertarian and free-market
conservative needs to read Obamanomics.” And Johan Goldberg, columnist and
bestselling author says, “Obamanomics is conservative muckraking at its best
and an indispensable field guide to the Obama years.”
If you’ve wondered what’s happening to America, as the
federal government swallows up the financial sector, the auto industry, and
healthcare, and enacts deficit exploding “stimulus packages,” this book makes
it all clear—it’s a big scam. Ultimately, Obamanomics boils down to this: every
time government gets bigger, somebody’s getting rich, and those somebodies are
friends of Barack. This book names the names—and it will make your blood boil.
Investigative reporter Timothy P. Carney digs up the dirt the
mainstream media ignores and the White House wishes you wouldn’t see. Rather
than Hope and Change, Obama is delivering corporate socialism to America, all
while claiming he’s battling corporate America. It’s corporate welfare and
regulatory robbery—it’s Obamanomics. In this explosive book, Carney reveals:
* The Great
Health Care Scam—Obama’s backroom deals with drug companies spell corporate
profits and more government control
* The Global
Warming Hoax—Obama has bought off industries with a pork-filled bill that will
drain your wallet for Al Gore’s agenda
* Obama and
Wall Street—“Change” means more bailouts and a heavy Goldman Sachs presence in
the West Wing (including Rahm Emanuel)
*
Stimulating K Street—The largest spending bill in history gave pork to the
well-connected and created a feeding frenzy for lobbyists
* How the
GOP needs to change its tune—drastically—to battle Obamanomics
Praise
for Obamanomics
“The notion that ‘big business’ is on the side of the free
market is one of progressivism’s most valuable myths. It allows them to
demonize corporations by day and get in bed with them by night. Obamanomics is
conservative muckraking at its best. It reveals how President Obama is
exploiting the big business mythology to undermine the free market and stick it
to entrepreneurs, taxpayers, and consumers. It’s an indispensable field guide
to the Obama years.”
—Jonha Goldberg, LA Times columnist and best-selling author
“‘Every time government gets bigger, somebody’s getting
rich.’ With this astute observation, Tim Carney begins his task of laying bare
the Obama administration’s corporatist governing strategy, hidden behind the
president’s populist veneer. This meticulously researched book is a must-read
for anyone who wants to understand how Washington really works.”
—David Freddoso, best-selling author of The Case Against
Barack Obama
“Every libertarian and free-market conservative who still
believes that large corporations are trusted allies in the battle for economic
liberty needs to read this book, as does every well-meaning liberal who
believes that expansions of the welfare-regulatory state are done to benefit
the common people.”
—Congressman Ron Paul
“It’s understandable for critics to condemn President Obama
for his ‘socialism.’ But as Tim Carney shows, the real situation is at once
more subtle and more sinister. Obamanomics favors big business while
disproportionately punishing everyone else. So-called progressives are too
clueless to notice, as usual, which is why we have Tim Carney and this book.”
—Thomas E. Woods, Jr., best-selling author of Meltdown and
The Politically Incorrect Guide™ to American History
• ISBN-10: 1596986123
• ISBN-13: 978-1596986121
Chuck Schumer Pushes
Tax Cut for Richest 1% in Coronavirus Relief Bil Senate Minority Leader Chuck Schumer (D-NY) is pushing for
a
repeal of the state and local tax (SALT) deduction cap in the
next round of
coronavirus relief — giving a tax cut to the
wealthiest 1% of taxpayers,
especially in “blue” states.
In his landmark tax reform law, the Tax Cuts and Jobs Act of
2017, President Donald Trump and the Republicans offset some of the revenue
losses from low tax rates by restricting deductions. The law capped the SALT
deduction at $10,000.
Previously, those taxpayers wealthy enough to file a list of
itemized deductions could count all
Trump ended the deduction — at some political cost to himself.
Republicans went on to lose congressional seats in wealthy suburbs in high-tax
Democrat-run states. Orange County, California, for example, flipped entirely
to Democrats.
But Democrats still want to repeal the SALT cap, regardless,
because they want their state and local governments to avoid tax cut — and
because their wealthy campaign contributors want to be subsidized, once again,
by the rest of the country.
Even Seth Hanlon, a former Obama administration official who is now
a senior fellow at the left-wing Center for American Progress, has protested
against Schumer’s idea, noting that repealing the SALT cap would help “the top
1%.”
Come on, not this again.
Repealing the SALT cap for 2020-21 would be a $137 billion tax
cut, with about 63% going to the top 1%.
It does nothing for states and localities except potentially
crowd out the actual fiscal relief they urgently need. https://t.co/jlSjIhnzpq
— Seth Hanlon (@SethHanlon) July 15, 2020
Here is the national distribution of the
tax cut from repealing the SALT cap, via @iteptweets .
A tiny percentage of middle-income people get any benefit.
The top 1% gets 63%: an avg. $35k tax cut for them.
The top 5% gets 87%.
The bottom 80% get literally 1% of the benefit. pic.twitter.com/8EIav7wgcJ
— Seth Hanlon (@SethHanlon) July 15, 2020
Here is the distribution just for New York.
Largely the same story. A few more middle-income people benefit a little
compared to nationwide, but still, the tax cut goes overwhelmingly to top
one-percenters. Not the people most affected by COVID!!! pic.twitter.com/Dp0evxq3P7
— Seth Hanlon (@SethHanlon) July 15, 2020
The basic story is the same in every state.
State by state estimates are here. https://t.co/1KREhnb6et
— Seth Hanlon (@SethHanlon) July 15, 2020
The Democrat-run House of Representatives has already passed a
repeal on the SALT cap that would be effective for two years.
According to The Hill , “Schumer urged Senate
Majority Leader Mitch McConnell (R-Ky.) [on Tuesday] to ‘join the House, and
join the Democrats in the Senate, and get rid of that cap.'”
Schumer also vowed to make the SALT deduction — the effective
tax cut for the 1% — permanent: “If I become majority leader, one of the first
things I will do is we will eliminate it forever,” he added, according to The Hill
Joel B. Pollak is Senior Editor-at-Large at Breitbart News and
the host of Breitbart News Sunday on Sirius XM Patriot on Sunday
evenings from 7 p.m. to 10 p.m. ET (4 p.m. to 7 p.m. PT). His new book, RED NOVEMBER , tells the story of the 2020 Democratic presidential primary
from a conservative perspective. He is a winner of the 2018 Robert Novak
Journalism Alumni Fellowship. Follow him on Twitter at @joelpollak .
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