Thursday, November 18, 2021

AS JOE BIDEN ORCHESTRATES WALL STREET'S LOOTING AND OPEN BORDERS FOR 'CHEAP' LABOR WILL THERE BE REVOLUTION OR CIVIL WAR II???

  BIDENOMICS REALITY THEY DON'T WANT YOU TO SEE!



MISERY AHEAD, $300 OIL, ECONOMIC PAIN JUST BEGINNING, ENDLESS DIGITAL MONEY, RETIRE IN DEBT



This Is How They Intend To Get Us To “You Will Own Nothing And Be Happy”



NEW DEFAULT WARNINGS, INFINITE SPENDING REQUIRED, CREDIT CARD SPENDING SPLURGE



How US capitalism established the modern two-party system of bourgeois rule

The Age of Acrimony: How Americans Fought to Fix Their Democracy, 1865–1915, by Jon Grinspan, Bloomsbury, 2021

The subtitle of Jon Grinspan’s recently published book, The Age of Acrimony, is somewhat misleading. It reads, “How Americans Fought to Fix Their Democracy, 1865–1915.”

Americans were and are divided into mutually antagonistic classes, however. A more accurate description would be, at least in part, “How US capitalism established the modern two-party system of bourgeois rule.” As the author shows, this included the effective disenfranchisement of the poorest and most exploited sections of the working class—the restriction, not the “fixing,” of democracy.

Grinspan, the curator of political history at the Smithsonian’s National Museum of American History, has written an interesting and informative book, even if limited both in its scope and by its theoretical outlook. He deals with the half-century following the US Civil War.

Book cover of "Age of Acrimony"

The Second American Revolution ended chattel slavery, and the Reconstruction Period was characterized by significant reforms, including the extension of the right to vote to several million former slaves. It soon gave way to counterrevolution, however. The Republican Party abandoned Reconstruction. The Compromise of 1877, which installed Republican Rutherford B. Hayes in the White House—after a bitterly disputed election in which Democrat Samuel Tilden won the popular vote—in exchange for the withdrawal of federal troops from the former Confederacy, was a fundamental turning point.

The shift reflected the dominant interests of the ascendant bourgeoisie. Having established its supremacy through the Civil War, it was more than willing to make a deal with its former foes. Slavery did not return, but it was supplanted by the Jim Crow system of segregation, terror and second-class citizenship for the African-American population in the South, while the North led the way in the massive industrialization of the country.

President Rutherford B. Hayes

Republicans continued to “wave the bloody shirt” well into the 1880s and even later, using memories of the Civil War to appeal to a broader base that remembered the fight against slavery. The Democrats rebuilt their electoral fortunes, based both upon the former slaveholders and their supporters in the South, and the growing patronage machines in the northern cities, resting on the growth of industry and the working class, including several million immigrants.

Election campaigns during the 1870s were a time of torchlight parades and mass activity. The large voter turnouts included newly enfranchised African-Americans—women’s suffrage would not arrive for almost another half-century.

Party affiliation was emphasized, but political issues receded into the background in the years after Reconstruction. This was a time when the class struggle erupted in such battles as the Great Railroad Strike of 1877. Partisanship was a way to divert attention from the class issues and the need for the political independence of the working class. Voters were instead divided along tribal lines, into the two big parties of big business. Although much has changed in the past 150 years, similar techniques are used today.

Grinspan writes about the fears of the ruling class during this period:

Racist pogroms tore apart southern cities, and ethnic and class tensions caused riots in Manhattan in 1870, 1871 and 1874. Across the Atlantic, Paris exploded in 1871, as the revolutionary Paris Commune seized control of the city, before being brutally put down by the French state, which massacred twenty thousand. Americans frightened themselves with predictions of their own coming commune… Then, in the spring of 1877, one hundred thousand railroad workers struck around the United States, protesting the wage cuts that had shrunk their earnings by nearly one-quarter since 1873. The movement was crushed by state militias and federal troops, killing about one hundred strikers. Fearing communes abroad and strikers at home, the wealthy began to talk about the coming fall of civilization, pointing to various barbarians at various gates.

The reference to the Paris Commune is particularly significant, reflecting the international character of the class struggle as the system of capitalist production grew. Both Democrats and Republicans began to rely on growing middle-class layers as a force for political stability, a buffer and a means of silencing a revolutionary movement within the working class.

Blockade of engines at Martinsburg, West Virginia during the Great Railroad Strike of 1877

The subsequent decades continued to be ones of explosive class struggle as well as political instability. The “irrepressible conflict” that led to the Civil War reemerged in another form, this time the conflict between expanding capitalism and the powerful working class that grew alongside it.

Between 1865 and 1900, three US presidents (Lincoln, Garfield and McKinley) were assassinated. Grinspan briefly mentions the infamous Haymarket frame-up of Chicago anarchists in 1886. He writes:

Cities were training militias, passing vagrancy laws, and restricting public rallies with permitting requirements. And across the nation, strikers were met with truncheons and rifles. The National Guard was called out 328 times between 1886 and 1895. In 1894, an Ohioan named Jacob Coxey led a ragtag assembly of unemployed protesters in the first march on Washington. ‘Coxey’s army,’ as they were called, were beaten and arrested for trampling on the grass around Capitol Hill. To the well-to-do of the 1890s, public gatherings seemed newly ominous.

The Civil War marked the completion of the bourgeois revolution in the United States. The abolition of slavery cleared the path for the system of “free labor” across the country. The Gilded Age, in which Rockefeller, Morgan, Vanderbilt and Carnegie became household names, was marked by extremes of inequality never previously seen. It also saw explosive class struggles. The Great Railroad Strike was followed by the Homestead and Pullman strikes in 1892 and 1894, respectively, brutally suppressed by the state.

This was the context within which the ruling class began to move away from the kind of “mass democracy” it had earlier utilized, in favor of “respectability” and “civility” in politics. Mass political involvement was deemed too dangerous at a time of mass struggle.

During this same period, lynching was rapidly increasing in the South, and poll taxes and other methods effectively disenfranchised the freed slaves and their children, but also many poor whites. In the Northern states the techniques were different, but the results were somewhat similar. As Grinspan describes it in his book, as well as in an article in the Washington Post several months ago, “‘reformers’ could not simply disenfranchise their lower classes. But perhaps, they schemed, they might make participation unappealing enough to discourage turnout.” Among other techniques, “states passed new registration laws and literacy requirements, moved polling places into unfriendly neighborhoods, and most employers stopped letting their workers take time off to vote.”

Republicans William McKinley and Theodore Roosevelt won 1900 presidential election

This all accompanied—paradoxically it would seem—the Progressive Era of the first two decades of the 20th century. It was not, in fact, at all inconsistent. Many reformers found the infringement of voting rights perfectly acceptable, just as they supported the contemporaneous efforts to restrict immigration, efforts that led to the passage of the draconian Johnson-Reed Act of 1924, which imposed quotas that reduced immigration from southern and eastern Europe to a small fraction of previous levels, while banning immigration from most of Asia.

The reformist wing of the ruling class saw measures such as antitrust laws, factory inspections, the end of child labor and similar legislation as necessary to forestall revolution. This became especially urgent after the 1905 Revolution in Russia, to which the author briefly alludes. The reforms that ascendant American capitalism could then afford were not the result of the sudden growth of charity among the employers. They came in response to the continuing development of the class struggle, including the founding and early growth of the Industrial Workers of the World. This period also corresponded to the emergence of the United States as an imperialist power, able to bribe a labor aristocracy—a thin layer of labor bureaucrats and privileged workers.

Crowd facing armed soldiers in Moscow, an event that led to the 1905 Revolution

Not surprisingly, Grinspan discounts the growth of the socialist movement, barely mentioning Eugene Debs in an aside. He separates the relatively small socialist movement from the great stirrings of the working class, and accepts the falsehood that socialism was alien to the US. He neglects to mention the enormous impact in the US of the 1917 Russian Revolution, as well as internationally, and the leadership role of socialists and communists in the building of the industrial unions in the US in later decades.

The infringements on voting met with a good deal of success. Voter turnout fell from a high of 82.6 percent of eligible voters in 1876 to 48.9 percent in 1924. Grinspan writes: “From 1896 to 1900, turnout fell 6.1 percent. It crashed another 8 percent by 1904, plunged 6.6 percent in 1912, and crashed a full 12.4 percent by 1920.” By 1924, he continues, “for the first time in the history of American democracy, stay-at-homes made up the majority of eligible voters.”

The collapse of voting “was most extreme in the Deep South, where Jim Crow voting laws disenfranchised Black voters, discouraged poor Whites, and enthroned a small, White, wealthy, Democratic electorate. On average, half as many Southerners voted after 1900 as before.” This was not confined to the disenfranchisement of African-Americans. “In Florida, turnout dropped 52 percent; in South Carolina it fell 65.6 percent between 1880 and 1916. Just 17.5 percent of eligible South Carolinians voted in 1916…”

Grinspan is informative when demonstrating that race was not the only factor, and not even the biggest factor, in the hollowing out of American democracy over the last century. Voter turnout fell during this period, he writes, “especially among populations who were poorer, younger, immigrants or African-Americans. Election Day in the 19th century was a thrilling holiday. In the 20th century, it required literacy, identification papers, education, leave from work …”

He refers to Joe Biden’s hypocritical warning about new voting laws that risk “backsliding into the days of Jim Crow,” and adds, “… there is a stronger, subtler parallel: the deliberate discouragement of working class voters, around 1900, by wealthier Americans scared that ‘hordes of native and foreign barbarians, all armed with the ballot’ would replace them at the polls.”

The Jim Crow measures, accompanied by violence or the threat of violence, were the most blatant, but they were part of a broader pattern. As Grinspan notes, “while the Voting Rights Act of 1965 fought racial discrimination in voting, the discouragements preventing low-income participation have never been addressed.” He points out that the 66 percent turnout in the polarized election of 2020 was the highest percentage in 120 years and was far below the participation of eligible voters in the late 19th century. Thus, during a century when American imperialism regularly posed as the symbol of democracy, it was effectively disenfranchising many millions of its own citizens.

While Grinspan himself may shrink from this conclusion, his study and the statistics he compiles confirm the words of Lenin, the leader of the 1917 October Revolution, on the nature of democracy under capitalism:

Bourgeois democracy, although a great historical advance in comparison with medievalism, always remains, and under capitalism is bound to remain, restricted, truncated, false and hypocritical, a paradise for the rich and a snare and deception for the exploited, for the poor.

This book brings its survey of US voting up only to the early 20th century, but it is necessary to consider at least briefly what has happened since 1915, and where American democracy stands today. The relatively stable two-party system inaugurated in the early 20th century has endured, with some minor challenges, until fairly recently. The American working class has remained politically disenfranchised, failing to build mass parties as happened in Europe and elsewhere.

This can be ascribed in part to the remaining resources of US imperialism, as the leading global capitalist power. In the 1930s, Franklin Roosevelt’s New Deal was able to pose as the “friend of labor” and steal the political thunder of fascistic figures like Huey Long.

Even more decisive, however, was the crisis of working-class leadership, and above all the role of Stalinism, in systematically betraying the working class internationally. In the US, the Stalinists were crucial in helping to tie the insurgent labor movement to Roosevelt’s Democrats, and in the post-World War II period the anticommunist trade union bureaucracy, basing itself on the temporary postwar boom, took over the task of strangling the movement of the working class.

The last four decades, however, have witnessed a fundamental change. Everywhere the existing parties and trade unions—including the Stalinists—have been transformed and integrated into the capitalist state. Racial politics, in the form of the identity politics embraced by the Democrats, has supplemented racism and xenophobia as a means of dividing the working class. The accelerating crisis and decline of American capitalism has led, especially since the stolen election of 2000, to new and more extreme attacks on basic democratic rights.

This is part of the explosive growth of inequality, a Second Gilded Age even more extreme than the first. This level of inequality is not compatible with rights that have been won or tolerated in the past. This is the significance of the emergence of Trump, the ongoing transformation of the Republicans into a fascist party, and the complicity and bankruptcy of the Democrats in the face of the fascist danger.

This deepening onslaught on the working class is provoking a response, visible today in such developments as the growing strike wave as well as the mass protests against police killings. A period of revolutionary struggle has opened up, in the US and internationally.

The defense of the right to vote is bound up with the struggle for the political independence of the working class. It must answer the capitalist state’s suppression of democracy with genuine workers’ democracy and a workers’ state. The fight for socialism, smashing the capitalist class’s stranglehold on economic life, is the only answer to the COVID-19 pandemic and the threat of war and fascist dictatorship.

Warren: Biden’s Economy Is ‘Strong’ — ‘A Lot of Good Economic Indicators’

1:45

Senator Elizabeth Warren (D-MA) said Wednesday on MSNBC’s “The ReidOut” that President Joe Biden’s Build Back Better package would continue what she deemed good economic indicators shown during the first year of Biden’s administration.

Warren said, “So I look at it this way, there are a lot of strong signs in this economy, particularly coming out of the pandemic a lot of good economic indicators.”

She continued, “I try to look what is happening in families across this country. Keep in mind the big expenses here, Joy, child care. From the time I was trying to get child care to today, child care expenses have gone up nearly 1,000% for parents. Anybody who is trying to take care of an elderly parent and needs home-based care for it has seen the prices go through the roof. Anybody who is taking a prescription to have it filled has just seen huge price increases. These are big increases that hit a budget hard. This is the reason we need Build Back Better.”

Warren added, “If we’re really talking about what affects people’s pocketbooks every single day, week after week, year after year, it’s these big expenses. This is what is the next bill that’s teed up right now. The House has got its toes right on the line to pass this thing. That will give us universal child care and pre-K that’s, that is going to give us home and community-based care, and it’s going to give us negotiation on drug prices and help bring those costs down. I want to see us move to lower the cost for American families for hard-working families. The way to do that is pass Build Back Better.”

Follow Pam Key on Twitter @pamkeyNEN



Fed Fears a Major Financial Panic


Transitory Inflation? Not With Joe in Charge

Americans are now facing the highest inflation in 30 years.  People are even starting to talk about the “misery index” again -- and I haven’t heard that term since the Carter administration.  Unfortunately, inflation hits low and middle-income Americans the hardest.  You can bet that Speaker Antoinette and President Asterisk aren’t feeling the pinch.  Maybe that’s why they’re not acting very interested in the problem.  But the rest of us are sure interested.

Inflation isn’t a simple matter to control.  It is a complex issue that is affected by many factors. 

Whenever the government lowers the value of our money, inflation goes up.  When our geniuses in Washington put more money into circulation by either borrowing it or printing it, the value (buying power) of the money goes down.  It is simple supply and demand economics.  The more there is of something, the less valuable it becomes.  Venezuela has tons of money -- and it takes a ton of it to buy bread.  The Venezuelan currency is the Bolivar, and they’re issuing it in 50,000 Bolivar notes now -- because that’s what it takes to buy anything.  Venezuela proves that you can’t print your way out of inflation.  Our federal government currently has over $29 trillion in borrowed money.  What does President Gremlin want to do?  Borrow $5 trillion more for his various spending boondoggles.  Because he simply doesn’t understand this principle.

Product scarcity also factors into inflation.  Gold and diamonds are valuable for one reason, and one reason only -- they’re rare.  If we had to sweep diamonds off the sidewalk everyday no bride would want one on her engagement ring.  It’s simple supply and demand again.  If there’s not enough of something to meet the demand, people are willing to pay more for it and prices go up.

Which brings us to our failing supply chain.  If there aren’t enough products on the shelves, the remaining products get a bit pricey.  COVID restrictions and work disincentives have starved the country of skilled workers.  Democrat-sponsored emission standards in California have created a shortage of trucks to move products inland from West Coast ports.  Further, California’s AB5 killed private contracting in the state, and is creating a shortage of drivers to pilot the trucks that aren’t available anyway.  And just like that, we have over 100 cargo ships parked off the West Coast, unable to unload, empty store shelves nationwide, and skyrocketing prices for those scarce products which are available.

What is President Gremlin’s plan?  His Build Back Better program of course.  A massive deficit spending program which will:

  • Borrow enough money to further devalue the dollar
  • Fund the Green New Deal to impose further environmental restrictions on an already failing system
  • Expand AB5 nationwide and exacerbate the supply chain labor shortage

Like every Democrat, his only solution to any crisis is to do more of the same thing that created the crisis. 

We can’t talk about inflation without also talking about production costs.  I know this is a hard one for liberals to understand. If Joe’s reading this, he needs to pay attention.  When it costs more to make and deliver a product, prices go up.  Who knew? 

So, what’s Joe doing to lower production costs?  Well, he’s extended unemployment benefits -- paying people to not work.  Businesses across the country are suffering from labor shortages.  They’re overcoming that by offering higher pay, and passing on that increased labor cost to their customers.

A big piece of the processing expense is the price of energy.  It takes a lot of electricity to turn a raw hunk of aluminum into a shiny new rim for your car.  Therefore, skyrocketing energy costs are also contributing to inflation.  When the price of fuel goes up, Americans don’t just feel it at the pump.  They feel it when they buy rims for that car -- and every other product as well.  So, what is President Gremlin doing to help with spiking energy costs?  He’s cancelling pipelines, closing others, restricting fracking, and cancelling drilling permits.  That should do the trick.

But let’s not forget about those overhead expenses -- of which taxes are a big one.  President Gremlin’s Build Back Better program also includes massive tax increases -- especially for businesses.  That’s why Senator Kyrsten Sinema is fighting the program.  Those taxes will increase the cost for every company to stay in business.  They will pass those costs along, and prices will go up.

But inflation isn’t only driven by scarcity and costs, it is also driven by expectations.  When buyers (of anything) expect prices to go up, they try to make their purchases before the increases take effect.  In so doing, they increase demand, and drive prices up.

For example, when investors expect a commodity – like, say, oil -- to go up, they buy oil futures.  Futures are a contract to buy a certain amount of oil in the future at an elevated price.  They’re hoping the price goes up even more than their contract price.  If it does, they can sell their contract and make a profit.

But by buying the futures, they’ve already driven up the future cost of oil and triggered inflation.  That’s why gasoline prices went up so quickly when good ole Joe went to war with the oil industry.  President Gremlin’s policies convinced everyone that the price of oil was going up, investors jumped into the futures market, and they drove the price up -- fast.  Average Americans are worried that they may not be able to heat their homes this winter, but it’s been a real party for the big dollar investors -- most of whom are donors to the Democrats.  You don’t suppose there’s a connection there, do you?

Is there anything Joe can do to change that investor behavior?  There sure is.  He’d simply need to announce that he’s opening up drilling, endorse fracking, and give the green light to pipeline projects.  Investors will expect prices to drop, and they’ll bail on the futures market like rats from a sinking ship.  But that would require admitting that Donald Trump was right.  That’s not going to happen with this administration.  Sorry Americans, your wallets aren’t as important as Joe’s pride -- at least not to Joe.

If there’s anything that President Gremlin has failed to do to make inflation worse, I can’t think of it.  But then, I’m not an economist.  But know this: The next time President Asterisk assures us that inflation is only transitory -- it’s only as transitory as his administration.

John Green is a political refugee from Minnesota, now residing in Idaho. He currently writes at the American Free News Network (afnn.us).  He can be followed on Facebook or reached at greenjeg@gmail.com.

Image: ZeroOne

If you would like to comment on this or any other American Thinker article or post, we invite you to visit the American Thinker Forum at MeWe. There, you can converse with other American Thinker


Joe Biden Blames Record High Energy Prices on Oil Companies, Calls for Investigation

President Joe Biden responds to a question about the U.S. border as he speaks in the State Dinning Room of the White House, Saturday, Nov. 6, 2021, in Washington. (AP Photo/Alex Brandon)
AP Photo/Alex Brandon
2:21

President Joe Biden on Wednesday dodged responsibility for record-high energy prices and asked the Federal Trade Commission to investigate oil companies for “anti-competitive behavior.”

With nationwide gas prices reaching historic highs, inflation marking a thirty-year high, and a supply chain that seems permanently broken, President Biden is presumably seeking to escape responsibility for his failed energy agenda by placing blame on oil companies.

“I do not accept hard-working Americans paying more for gas because of anti-competitive or otherwise potentially illegal conduct,” President Biden said. “I therefore ask that the Commission further examine what is happening with oil and gas markets, and that you bring all of the Commission’s tools to bear if you uncover any wrongdoing.”

“The Federal Trade Commission has authority to consider whether illegal conduct is costing families at the pump,” Biden referenced the record-setting gas prices around the country. “I believe you should do so immediately.”

President Biden’s request for the agency to investigate oil companies comes as the Biden-Harris administration has conducted a regulatory war on American energy.

Just after taking office, Biden revoked the Keystone XL Pipeline. The pipeline would have transported 35 million gallons of crude oil per day from Nebraska to the Gulf Coast.

Biden has also allowed Russia to access European energy markets by building a pipeline from Russia to Germany. The project is a direct hit to American producers who sell oil to European nations.

President Biden is also weighing whether to cancel a 78-year-old Line 5 oil Michigan pipeline. The pipeline may be terminated because 12 federally recognized tribes asked the administration to do so.

According to a Politico/Morning Consult poll on Wednesday, just 40 percent of registered voters approve of Biden’s energy policies. The poll also revealed the majority of voters believe President Biden is untrustworthy, dishonest, and incapable of leading the nation.

Follow Wendell Husebø on Twitter @WendellHusebø

 BIDENOMICS REALITY THEY DON'T WANT YOU TO SEE!



MISERY AHEAD, $300 OIL, ECONOMIC PAIN JUST BEGINNING, ENDLESS DIGITAL MONEY, RETIRE IN DEBT



This Is How They Intend To Get Us To “You Will Own Nothing And Be Happy”



NEW DEFAULT WARNINGS, INFINITE SPENDING REQUIRED, CREDIT CARD SPENDING SPLURGE




Fed Fears a Major Financial Panic



Nolte: Washington Post — Biden Plan Builds the Wealthy Back More than Anyone Else

US President Joe Biden reacts as he delivers remarks on the passage of the Bipartisan Infrastructure Deal and the rule that will allow the passage of the Build Back Better Act in the State Dining Room at the White House in Washington, DC on November 6, 2021. - The President …
ROBERTO SCHMIDT/AFP via Getty Images
5:25

Even the far-left Washington Post has been forced to admit that His Fraudulency Joe Biden’s $1.75 trillion Build Back Better (BBB) boondoggle benefits millionaires and billionaires more than anyone else.

Back in 2017, then-President Trump and the Republican congress increased taxes on the wealthy by removing a federal tax loophole that essentially forced non-wealthy federal taxpayers to pay for a loophole that primarily benefited the top ten percent of income earners.

What Trump did was put a $10,000 cap on the amount of taxes you paid to your state that you could turn around and deduct from your federal income taxes. Prior to this cap, the wealthy (who are really the only ones who ever pay more than $10,000 in state taxes) could deduct every penny paid to the state from their federal income tax. This deduction was unlimited.

This is called the SALT cap, or State and Local Tax cap.

In other words, if CNNLOL chief Jeff Zucker paid $1.5 million in state and local taxes to New York, he could then deduct that entire $1.5 million from his federal income tax. This means he was not paying any federal income tax on $1.5 million of his income.

Pretty sweet, eh?

jeff Zucker, President of CNN, is interviewed during a Financial Times Future of News event March 22, 2018 in New York. / AFP PHOTO / Don EMMERT (Photo credit should read DON EMMERT/AFP/Getty Images)

Jeff Zucker, President of CNN, is interviewed during a Financial Times Future of News event March 22, 2018 in New York. (DON EMMERT/AFP/Getty Images)

This is one of the ways the income tax system was rigged to benefit the wealthy and Blue States. This allowed the Blue States, such as New York or California, to tax the rich at obnoxiously high levels without scaring them into moving to a lower tax state. The rich didn’t mind paying these obnoxiously high state tax rates because they could avoid federal income taxes on all that income. So, instead of the taxes from Zucker’s $1.5 million going to the federal government, where we all benefit, any taxes paid on it went to his Blue State.

Remember when Democrats were the Tax The Rich party?

Well, those days are now so over that, at the time, Democrats tried (and failed) at all kinds of schemes to protect the rich from this tax increase.

Oh, and now, Biden’s vaunted Build Back Better plan, which is being sold as a populist program, primarily benefits the top ten percent by raising the SALT cap from $10,000 to $80,000.

Per the far-left Washington Post:

[The increase in the SALT cap is] the second-most expensive item in the legislation over the next five years, more costly than establishing a paid family and medical leave program, and nearly twice as expensive as funding home-medical services for the elderly and disabled, according to an analysis by the Committee for a Responsible Federal Budget.

The study showed the SALT deduction would primarily benefit the top ten percent. Again, the numbers are staggering [emphasis added]:

“Over the next five years, raising the SALT cap would provide a tax cut only to those who itemize their taxes and pay more than $10,000 in state and local taxes — a group overwhelmingly made up of the wealthy. A recent analysis from the Tax Policy Center says the tax cut will benefit primarily the top 10 percent of income earners, with almost nothing flowing to middle- and lower-income families.

So what Biden wants to do is pass this MASSIVE $1.75 trillion bill, which will mean even higher food and energy prices due to the additional inflation all this spending will cause. He wants to explode the deficit further, and the bill benefits the wealthiest people in the country more than anyone else.

People wait in line to purchase groceries Monday, Feb. 15, 2021. (AP Photo/David J. Phillip)

Here’s the kicker. No one benefits more; no one even comes close to benefitting more than the top one percent. They will receive a federal tax cut of nearly $15,000 per year, compared to ZERO for the bottom seventy percent.

A view of fruit and vegetables at an area grocery store August 12, 2021, in Washington, DC. (BRENDAN SMIALOWSKI/AFP via Getty Images)

As my colleague John Binder wrote this week:

President Joe Biden’s “Build Back Better Act,” a filibuster-proof $1.75 trillion budget reconciliation package, gives $625 billion in tax cuts to the nation’s wealthiest blue state residents.

Slipped into the reconciliation package are hundreds of billions of dollars worth of tax cuts for the Democrat Party’s wealthiest donors, that would be paid for by America’s working and middle class.

“Roughly 98 percent of the benefit from the increase would accrue to those making more than $100,000 per year, with more than 80 percent going to those making over $200,000,” prior analysis from the Committee for a Responsible Federal Budget noted.

Biden is spending trillions of dollars and giving the people who need it least most of the money.

A poster showing gas price increases is seen as Sen. John Barrasso (R-WY) speaks alongside other Republican Senators during a press conference on rising gas an energy prices at the U.S. Capitol on October 27, 2021 in Washington, DC. Republicans are placing blame on the Biden Administration for the quickly rising gas prices this year as predictions estimate that heating costs this winter will rise significantly as well. (Samuel Corum/Getty Images)

You know, I’m not a tax-the-rich type person, but what drives me to distraction are loopholes and carve-outs, is how corporatists such as Biden and Nancy Pelosi bastardize the tax code to benefit their pals and donors. It’s corrupt and rigged, and grossly unfair.

It’s also deceptive. Biden and Pelosi are running around pretending to care about the little people as they push what amounts to a $1.75 trillion slush fund that is certain to make an already crippling inflationary crisis even worse, a crisis that hits the poor and working-class harder than anyone else.

The rich get $15,000 they don’t need, and our gas and food bills get even more expensive.

Follow John Nolte on Twitter @NolteNCFollow his Facebook Page here.

BIDEN - PELOSI MADE SURE THERE WAS A HUGE TAX BREAK FOR THE RICH WHO PURCHASED ELECTRIC - AFTER ALL, PELOSI IS HEAVILY INVESTED IN TESLA STOCK. IT PAID OFF THAT TESLA WAS HANDED MILLIONS IN CORPORATE WELFARE.

Pelosi Pushes Electric Vehicle Subsidies As Husband’s Tesla Stock Soars

THE DEMOCRAT PARTY'S BRIBES SUCKING KLEPTOCRACY

https://www.youtube.com/watch?v=N-PlWX0NAKk


Joe Biden, Democrats Seek $625 Billion Tax Cut for Wealthy Coastal Elites

SAUL LOEB/AFP via Getty Images
SAUL LOEB/AFP via Getty Images
3:04

President Joe Biden’s “Build Back Better Act,” a filibuster-proof $1.75 trillion budget reconciliation package, gives $625 billion in tax cuts to the nation’s wealthiest blue state residents.

Slipped into the reconciliation package are hundreds of billions of dollars worth of tax cuts for the Democrat Party’s wealthiest donors, that would be paid for by America’s working and middle class.

A newly released analysis of Biden’s budget finds that plans to increase the State and Local Tax (SALT) deduction cap from its current $10,000 to $80,000 would effectively amount to a $625 billion tax for the wealthiest of Americans living in blue states.

The analysis reveals that “a household making $1 million per year will receive ten times as much from SALT cap relief as a middle-class family will receive from the child tax credit expansion.”

CRFB

(Chart via Committee for a Responsible Federal Budget)

“Roughly 98 percent of the benefit from the increase would accrue to those making more than $100,000 per year, with more than 80 percent going to those making over $200,000,” prior analysis from the Committee for a Responsible Federal Budget noted.

Biden has repeatedly claimed that his budget will aid middle class Americans the most. In one statement, Biden wrote that his budget “will lower costs for American families.” In another statement, he wrote that his budget will “cut taxes for the middle class.”

The left-wing Tax Policy Center, though, estimates that Biden’s budget will provide massive tax cuts to the nation’s top five percent of earners while increasing taxes on 20 to 30 percent of middle class earners.

Specifically, the estimate found that Biden’s budget will give a tax cut to 66 percent of Americans earning more than $1 million annually while 78 percent of Americans earning $500,000 to $1 million will get a tax cut.

At the same time, 27 percent of Americans earning $75,000 to $100,000 would see a tax increase along with 19 percent of Americans earning $50,000 to $75,000.

In 2017, former President Trump had the SALT deduction capped at $10,000. Since then, Democrats have sought to deliver their wealthy, blue state donors with a massive tax cut by eliminating the cap altogether or greatly increasing it.

Biden, for instance, had sought to include tax cuts for his billionaire donors in a Chinese coronavirus relief package earlier this year. The plan was ultimately cut from the package. House Speaker Nancy Pelosi (D-CA), in May 2020, also tried to include the plan in a coronavirus relief package.

John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here

 TAX EVADER APPLE   -  BIGGEST EMPLOYER 

OF CHINESE SLAVE LABOR


Report: Apple’s Dystopian Digital ID Cards Are Partially Funded by Taxpayers

Tim Cook CEO of Apple laughing
Stephanie Keith/Getty
3:54

Apple is reportedly making taxpayers foot part of the bill for a project in which the tech giant plans to turn iPhones into digital identification cards, according to confidential documents obtained by CNBC.

In June, Apple announced that its users could soon store state-issued identification cards in the iPhone’s Wallet app, promoting it as a more secure and convenient way for customers to show their IDs in a variety of settings.

AFP

Apple’s bombshell and the trillion-dollar question (AFP)

But privacy experts find the concept questionable, as the move by Apple would effectively integrate identity into powerful mobile devices, raising concerns about the risk of dystopian scenarios involving surveillance.

Tim Cook prays for good fortune (Stephanie Keith /Getty)

Moreover, industry observers have also raised questions about why local authorities are giving up control of citizens’ identities to the tech giant, reports CNBC.

While Apple is known for its obsession with secrecy and typically forces potential partners to sign non-disclosure agreements, information about its partnership with the government can be found via public record requests.

Therefore, the contracts between Apple and states such as Georgia, Arizona, Kentucky, and Oklahoma provide a rare glimpse into the dealings of the tech giant, the report notes.

The agreement appears to give Apple a high degree of control over the government agencies responsible for issuing identification cards, according to information obtained by CNBC through public record requests.

Contracts signed by four states show that Apple will require states to maintain the systems needed to issue and service credentials, hire project managers to respond to Apple inquiries, market the feature, and push for its adoption with other government agencies — and all at taxpayer expense.

Documents also show that Apple has “sole discretion” for key aspects of the program, including what types of devices will be compatible with the digital IDs.

Others point out that a partnership like this would ultimately benefit Apple and its shareholders by making its devices even more essential than they already are.

“Apple’s interest is clear — sell more iPhones,” said Johns Hopkins Carey Business School professor Phillip Phan, who added that he is not sure why the states “think a partnership with one specific technology company that owns a closed ecosystem is the best way” to serve their citizens.

“For the state to spend taxpayer’s money on a product that serves only half its citizens is questionable,” Phan said.

According to fintech consultant and newsletter author, Jason Mikula, the dynamic is similar to the way in which Apple deals with vendors, but instead of getting paid by Apple, states must shoulder the financial burden of administering the programs.

“It’s like a vendor relationship, which makes no sense to me because it’s the states that have the monopoly on what they’re giving to Apple, they could presumably negotiate a much more equal contract,” Mikula said.

“I don’t know of any other example where government-owned systems and identity credentials were made available for commercial purposes in this manner,” he added.

Moreover, not only do the states have to “prominently feature the Program in all public-facing communications relating to Digital Identity Credentials,” but they also have to get all of their marketing efforts reviewed and approved by Apple.

Apple also shifts responsibility for confirming the authenticity of user identities onto the states, the report adds.

And these efforts are paid for by the states — which are funded by taxpayers.

Georgia and Arizona will be the first states to offer driver licenses on iPhone’s Wallet app, CNBC reports.

You can follow Alana Mastrangelo on Facebook and Twitter at @ARmastrangelo, and on Instagram.

THE ECONOMY TAKING A TURN FOR THE WORSE, ENDLESS MONEY PRINTING WILL CAUSE MORE PAIN, HOME PRICES




BIDEN CRONY JEFF BEZOS OF AMAZON SAYS HE CAN’T AFFORD TO PAY LIVING WAGES!

 HERE’S WHY:

 https://www.youtube.com/watch?v=lTYfJwTuP4A

Inside Jeff Bezos' $175 Million Mansion

 

This is because despite all its declarations, the Democratic Party is not a party of workers. It, as Biden’s transition team attests, is a party of Wall Street, big banks, Amazon, and the military-industrial complex.



The Biden family has gotten special treatment from Ukrainian oil interests, and the Pelosi family has a similar advantage.  Paul Pelosi, Jr. was a board member of Viscoil and an executive at its related company NRGLab, which was involved in energy business in Ukraine.  Perhaps the use of the Intelligence Committee has given the Democrats the opportunity to limit Republican questioning and maintain secrecy over the responses from subpoenaed witnesses.  This would prevent any official record implicating Pelosi's son. 

 

Wealth-X report: Billionaire wealth surged during pandemic

Trévon Austin

A new report from research firm Wealth-X found that the global COVID-19 pandemic has intensified the growth of social inequality and witnessed an unprecedented accumulation of wealth among the most privileged layers in society. For the first time in human history, the world had more than 3,000 billionaires in 2020.

This amounts to a 13.4 percent increase in billionaires since 2019, currently totaling 3,204 individuals, with a median wealth of $1.9 billion. Billionaires’ collective wealth swelled to $10 trillion, a 5.7 percent increase from 2019.

“Viewed in aggregate, the global pandemic delivered a windfall to billionaire wealth, boosted by the flood of monetary stimulus and swelling profits in key sectors that coined a new wave of younger, self-made billionaires,” the report said.

Billionaire wealth has increased steadily since 1990, but one-third of these wealth gains have occurred during the pandemic. US billionaire wealth increased nineteen-fold over the last 31 years, from an inflation adjusted $240 billion in 1990 to $4.7 trillion in 2021.

The parasitic growth in wealth was most pronounced in the United States, the center of world capitalism. The ranks of billionaires in all of North America grew by 17.5 percent from last year. In fact, North America’s 980 billionaires account for 30.6% of the world’s billionaires.

The US was the top billionaire country in 2020. According to a report from Americans for Tax Fairness (ATF) and the Institute for Policy Studies Program on Inequality (IPS), American billionaires have seen their collective wealth surge by 62 percent, approximately $1.8 billion, since March 18, 2020. Following North America, Asia saw its number of growing by 16.5%, for a grand total of 883. Asia’s billionaires saw their collective net worth grow to $2.6 trillion, a 7.5% increase.

The good fortune of this tiny layer of the world’s population over the past 18 months is all the more appalling when contrasted to the growing immiseration and impoverishment of billions of workers around the globe. As a few thousand billionaires amassed enormous sums of wealth, workers around the world lost $3.7 trillion in earnings during the pandemic, according to a report from the International Labor Organization (ILO).

The report estimated an 8.8 percent year-by-year decline in global working hours from 2019 to 2020, equivalent to 255 million full-time jobs. This is approximately four times greater than the recorded loss during the 2008-09 global financial crisis.

The lost working hours were due to massive cuts in working hours and unprecedented levels of job loss, impacting some 114 million people and their families. Significantly, 71 percent of these job losses came from “inactivity,” meaning at least 81 million people around the world left the labor market because they could not find work.

Women have been more adversely affected by the pandemic than men. Globally, employment losses for women stand at 5 percent, versus 3.9 percent for men. Women were much more likely than men to drop out of the labor market, most commonly due to childcare concerns. Younger workers have also been devastated. Employment fell by 8.7 percent among workers aged 15-24 years old, compared to 3.7 percent for adults. Generation Z, the oldest of whom is 23, has become the most unemployed generation and is on track to experience the same financial struggles as millennials.

In the US alone, the official poverty rate rose by 1.0 percent from 2019 to 2020, according to the US Census Bureau. The poverty rate grew to 11.4 percent, marking the first increase in the official poverty rate after five years of consecutive decline. In 2020, there were 37.2 million people in poverty, approximately 3.3 million more than in 2019.

At the same time, median household income in 2020 dropped by 2.9 percent from the previous year. This is the first statistically significant decline in median household income since 2011.

Over 86 million Americans have lost jobs, almost 38 million have been sickened by the virus, and over 675,000 have died from it. Between 2019 and 2020, the real median earnings of all workers fell by 1.2 percent. The total number of people reporting earnings decreased by about 3 million, while the number of full-time, year-round workers decreased by approximately 13.7 million.

The chief obstacle to solving the world’s burning social questions—whether the devastating impact of COVID-19 or the widespread growth of poverty—is the private profit interests of the capitalist ruling class. Every action these vultures have taken in response to the pandemic has been driven by the effort to protect the wealth and privileges of a few. To save lives and avert even further disaster, workers must fight for a policy based on the interests of the working class, the vast majority of society.

This One Photo Explains Everything You Need To Know About the Democratic Party

Élites unmasked

 • November 13, 2021 4:59 am

SHARE

House Speaker Nancy Pelosi (D., Calif.) was photographed officiating Ivy Getty's lavish wedding in San Francisco last week. The photo explains everything you need to know about the Democratic Party. Nearly every important aspect of the party and its voter base is represented.

For example:

1) Millionaires and billionaires

Getty, the great-granddaughter of oil baron J. Paul Getty, is presumed to have inherited several billion dollars after her father, John Gilbert Getty, died in 2020. Her grandfather, Gordon Getty, has helped finance the careers of prominent California Democrats such as Willie Brown, Gavin Newsom, and Pelosi. Billionaires and their wealthy scions tend to be loyal backers of the Democratic Party, whose most generous supporters include George Soros, Walmart heiress Christy Walton, Apple heiress Laurene Powell Jobs, and the Pritzker family, heirs to the Hyatt hotel fortune. J.B. Pritzker was elected governor of Illinois in 2018, and the 2020 Democratic primary featured two billionaires, Tom Steyer and Michael Bloomberg.

2) Really old career politicians

The top three Democrats in the House of Representatives are octogenarians who have worked in politics almost their entire adult lives. Pelosi, 81, is a Democratic Party scion whose political career began in the early 1960s. House Majority Leader Steny Hoyer (D., Md.) is 82 and has worked in politics since 1962. House Majority Whip James Clyburn (D., S.C.) is 81 and got his start in 1969. President Joe Biden, who will celebrate his 79th birthday later this month, is relatively young and inexperienced by comparison. He didn't launch his political career until 1970.

3) White guys

The Democratic Party is dominated by college graduates, a demographic that comprises roughly a third of the adult population, and is disproportionately white. Getty's random white dude husband wouldn't have to try very hard to find success in the Democratic Party or its affiliate, the media industry, where mediocre white dudes continue to excel. In most cases, they do so while simultaneously denouncing the toxic influence of white men. Joe Biden, Pete Buttigieg, Brian Stelter, Jeffrey Toobin, Andrew Cuomo, the Pod Save America bros, the bald weirdos at the Lincoln Project—the list goes on.

4) Celebrities

Mark Ronson opened for Earth, Wind & Fire, which played at the pre-wedding bash at The Palace of Fine Arts. Hollywood actress Anya-Taylor Joy, daughter of an investment banking tycoon, served as the maid of honor. Guests included pop star Olivia Rodrigo, assorted European royalty, and TikTok celebs, along with gender-bending performance artist Kiki Xtravaganza. As former president Barack Obama has gone out of his way to demonstrate, the ability to hang out with celebrities is one of the main reasons Democratic politicians run for higher office.

5) Anti-Semites

The bride's dress was covered in shards of broken glass, which may or may not have been an homage to the anniversary of Kristallnacht. The bridal gown and the bridesmaid dresses were designed by British fashion icon John Galliano, who also attended the wedding as a guest. In 2011, he was convicted in a Paris court for making anti-Semitic remarks, which is illegal under French law. "I love Hitler," Galliano reportedly told a group of Italian women at a café during Paris Fashion Week. "People like you would be dead today. Your mothers, your forefathers would all be f—ing gassed and f—ing dead." In recent years, the Democratic Party has become a space for anti-Semites.

6) Selectively enforced rules

The wedding took place at San Francisco's City Hall, which remains closed to the public due to COVID-19. Guests were asked to wear masks during the ceremony, but photos from the multi-day affair reveal that the California Department of Public Health's recommendation regarding the use of masks indoors was largely ignored. Democratic politicians have routinely ignored such guidance, in some cases blatantly violating state and local mandates that might impede their ability to party with rich donors and celebrities.

There. That's everything you need to know

about the Democratic Party.

THE DEMOCRAT PARTY'S BRIBES SUCKING KLEPTOCRACY

Watters' World' investigates Nancy Pelosi's financial dealings

https://www.youtube.com/watch?v=3M4QZJxb9Dw

 

 Nancy Pelosi, a horrid woman equally as without heart and soul, on Tuesday refused to have the names of the thirteen soldiers killed in Kabul read out on the floor of the House.  That should permanently indict her for being the wicked witch she is.  She is more devious, more calculating than the irresponsible Biden but every bit as beyond redemption as he is.  She will do anything to try to convince the American people, for whom she has only contempt, that whatever she and her party do is righteous no matter how loathsome and totalitarian.  PATRICIA McCARTHY

 THE DEMOCRAT PARTY'S BRIBES SUCKING KLEPTOCRACY

Watters' World' investigates Nancy Pelosi's financial dealings

https://www.youtube.com/watch?v=3M4QZJxb9Dw

 

As even more proof of this than I previously reported, Pelosi does not want employers like her to be required to pay the cost of illegal aliens’ hospital care.

 

Donald Trump Questions Nancy Pelosi’s Corruption

AP Photo/Manuel Balce Ceneta

CHARLIE SPIERING

President Donald Trump questioned House Speaker Nancy Pelosi’s dubious participation in stock market initial public offering shares, enriching her family.

The president shared a clip Monday highlighting a CBS 60 Minutes report featuring author and Breitbart senior contributor Peter Schweizer’s investigation into Pelosi and her husband participating in at least eight different stock IPOs while in Congress.

 

 

Donald J. Trump

@realDonaldTrump

 

"The House gone rogue! I want to remind you a little bit about the ring leader in this whole rogue operation against the President of the United States..." @MarkLevinShow

 

 

 

 

64.1K

3:34 PM - Oct 14, 2019

Twitter Ads info and privacy

 

35.1K people are talking about this

 

60 Minutes reporter Steve Kroft confronted Pelosi on the topic in 2011, but she denied any impropriety.

The report noted that Pelosi and her husband participated in an initial public offering of Visa in 2008, while credit card regulation was underway in the House of Representatives. The Pelosis bought 5,000 shares at the initial price of $44 and shares were trading at $64 just two days later, according to the report. 

“Congress has never done more for consumers nor has the Congress passed more critical reforms of the credit card industry than under the Speakership of Nancy Pelosi,” Pelosi spokesman, Drew Hammill, said in a statement, according to CNN after the 60 Minutes report aired.

The clip was featured on Mark Levin’s Fox News show Life, Liberty and Levin on Sunday.

 

Pelosi Pushes Electric Vehicle Subsidies As Husband’s Tesla Stock Soars

 

Pelosi Pushes Electric Vehicle Subsidies As Husband’s Tesla Stock Soars

Paul Pelosi owns up to $1 million of Tesla call options

House Speaker Nancy Pelosi (D., Calif.) gives a speech as Rep. Ilhan Omar (D., Minn.) looks on / Getty ImagesChuck Ross • October 28, 2021 5:00 am

SHARE

House Speaker Nancy Pelosi's (D., Calif.) husband hit pay dirt on Monday as Tesla's valuation rose to $1 trillion.

The news comes as Pelosi spearheads legislation that doles out tens of billions of dollars in subsidies to the electric vehicle industry, including Tesla, with provisions to build charging stations for cars and incentivize electric car purchases through tax credits.

The financial dealings of Pelosi's husband, Paul, came under scrutiny earlier this year when he purchased as much as $1 million of Tesla call options, one of the largest transactions of Tesla shares disclosed by a member of Congress. At the time, Republicans charged that the House speaker was cashing in on her power.

Members of Congress and their spouses are legally allowed to buy and sell stock, as long as it is not based on insider information. Members are required to disclose their transactions to the House Committee on Ethics, as Pelosi did with the Tesla transaction on Jan. 21.

Pelosi is spearheading negotiations with the White House as Democrats look to pass Joe Biden's Build Back Better plan and a reconciliation bill that includes the electric car incentives. Tesla, a pioneer in the electric car industry, is poised to see a significant boost from the legislation, according to industry watchers.

Democrats are proposing nearly $120 billion to fund various clean energy projects, and another $34.5 billion dedicated to zero-emission vehicles. The reconciliation bill also proposes $42 billion in tax credits for purchases of electric vehicles, which Democrats hope will incentivize new car buyers to purchase electric vehicles instead of gas-powered cars. The bill offers up to $12,500 in credits for each car. It also calls for tens of billions of dollars in spending to build charging stations for electric cars across the country.

Tesla's dramatic rise is likely attributable to several factors beyond the Democrats' spending proposals. Tesla founder Elon Musk recently announced he is moving the company's headquarters from California to Texas, which has no state income tax. Tesla's cars have also gained in popularity without federal incentives.

And while Tesla and other clean energy companies stand to gain with environmentally friendly Democrats in power, the company opposes some aspects of the reconciliation proposal, such as an additional credit for the purchase of electric cars made in unionized factories. Musk has publicly opposed unionization efforts.

Pelosi's office did not respond to requests for comment.

 

Billionaire Who Went to Space on Jeff Bezos’ Blue Origin Rocket Dies in Plane Crash

The Associated Press
The Associated Press
2:09

Glen de Vries, the billionaire founder of Medidata Solutions who went to space alongside William Shatner aboard a Blue Origin rocket, has reportedly died in a plane crash.

Sky News reports that Glen de Vries, the billionaire CEO of clinical research firm Medidata Solutions, has died in a plane crash. De Vries accompanied William Shatner aboard Blue Origin’s New Shepard spacecraft on October 13 where he spent more than ten minutes in space.

The Associated Press

This undated photo made available by Blue Origin in October 2021 shows, from left, Chris Boshuizen, William Shatner, Audrey Powers and Glen de Vries. Their launch scheduled for Wednesday, Oct. 13, 2021 will be Blue Origin’s second passenger flight, using the same capsule and rocket that Jeff Bezos used for his own trip three months earlier. (Blue Origin via AP)

De Vries was killed along with another individual in a plane crash in New Jersey, according to police reports.

The plan that De Vries was aboard was a small single-engine Cessna 172 that went down in a wooded area of Hampton Township on Thursday. The Federal Aviation Administration alerted public safety agencies to search for the missing plane on Friday. The plane wreckage was found about an hour later.

Blue Origin said in a statement: “He brought so much life and energy to the entire Blue Origin team and to his fellow crewmates. His passion for aviation, his charitable work, and his dedication to his craft will long be revered and admired.”

The other person killed in the crash was Thomas P. Fischer, the founder of a family-run flight school and the school’s head instructor. Jeff Bezos’ partner, Lauren Sanchez, commented that de Vries’ death was a “painful loss,” in an Instagram post.

“We got to know Glen de Vries, an incredible man, and his partner Leah last month”, she wrote. “Leah’s love for Glen was visible every time we saw them together. When he took off for space she gripped my hand so tight it hurt. Thinking of that moment today with a broken heart. Our deepest sympathies go out to Leah and Glen’s family, we are so saddened by the tragic news.”

Read more at Sky News here.

Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan or contact via secure email at the address lucasnolan@protonmail.com


BIDEN'S BILLIONAIRE CRONIES PAY LESS THAN 3% TAX RATE! IT PAYS TO OWN A PIECE OF JOE BIDEN!  -  COMMON MAN'S FRIEND FROM STANTON...LOL

Ask Prof Wolff: Taxing Billionaires



BIDEN CRONY JEFF BEZOS OF AMAZON SAYS HE CAN’T AFFORD TO PAY LIVING WAGES!

 HERE’S WHY:

 https://www.youtube.com/watch?v=lTYfJwTuP4A



Inside Jeff Bezos' $175 Million Mansion

 

This is because despite all its declarations, the Democratic Party is not a party of workers. It, as Biden’s transition team attests, is a party of Wall Street, big banks, Amazon, and the military-industrial complex.

  

Amazon Pushes for Indirect Taxpayer Subsidy Through USPS Handout

USPS trucks
Justin Sullivan/Getty
2:33

Technology giant Amazon is pushing, through its lobbying organs, to keep its USPS shipping rates artificially low, an indirect taxpayer subsidy to the market-dominating online retailer that comes at the expense of both small businesses and other customers of the USPS mail service.

Amazon has long relied on cheap shipping rates from USPS to avoid taking on the cost of building its own logistics network. In 2019, Bezos summed up the importance of USPS to his business, saying, “I didn’t have to build a transportation network to deliver the packages. It existed: It was called the post office.”

Jeff Bezos holds up an Amazon device (David Ryder /Getty)

Primarily through the Package Coalition, which Amazon funds, Amazon lobbies to keep USPS package shipping rates artificially low. This lobbying campaign for below-market shipping rates has intensified even as the demands on the USPS have ratcheted up in recent years due to the rapid rise of e-commerce shipping, a trend that was accelerated by the coronavirus pandemic.

Amazon Employee, Warehouse

Amazon Employee, Warehouse (Ross D. Franklin/AP)

This has come at a cost to customers of the traditional USPS mail service. Increased demands from package shippers like Amazon have forced the USPS to re-allocate resources from mail delivery to package delivery.

Analysts have confirmed that the USPS uses its traditional mail service, along with its tax exemptions and access to treasury loans to support its surging package delivery business. Meanwhile, delivery times in its traditional mail service continue to stagnate.

By lobbying to keep USPS package shipping rates artificially low, while at the same time dumping its unprofitable business – i.e. rural delivery – onto the USPS, Amazon and the Package Coalition are bankrupting the USPS.

During coronavirus, the taxpayers provided $10 billion in relief funding to the USPS. Amazon and the Package Coalition aggressively lobbied for the money, which was quickly used to cover the demands of package shipping.

When taxpayers come to the rescue, as they did during the pandemic, and as the Amazon-funded Package Coalition is asking them to do so again with another huge taxpayer bailout, Amazon is likely to be the beneficiary.

Allum Bokhari is the senior technology correspondent at Breitbart News. He is the author of #DELETED: Big Tech’s Battle to Erase the Trump Movement and Steal The Election.

No comments: