By Jon Hall
To say that things have spiraled out of control is an understatement. Not only has oil been exorbitantly expensive this year, leading to increasing gas prices – inflation has squeezed tighter middle-class Americans. Prices on everyday items, groceries and household items, have reportedly increased over 5% since last year.
Projections from the Fed through the end of 2021 calls for the inflation rate to reach 4.2%. In June, it was predicted 3.4% and 2.4% expected end of year back in March. Since March, the latest figure from the Fed has nearly doubled.
If inflation reaches 4.2% by the end of 2021, it will be the highest annual U.S. inflation rate since 1991.
What a luxurious and flagrant way to announce that the crony band of Establishment Democrats are back in control – with the biggest squeeze of the middle class since before Bill Clinton.
All the while, the Establishment swears they’re serious about raising taxes on corporations and the rich to pay for a trillion-dollar budget bill.
On the surface, the crony capitalist machine making this pledge seems like a worthwhile step in addressing America’s ever-widening wealth income inequality gap.
This isn’t to say that America’s multi-billion dollar corporations couldn’t afford to pay more money in taxes, that is to say, they simply wouldn’t. Recently, Kellogg’s has threatened workers with moving their jobs to Mexico amidst a worker strike.
At their core, any effective worker’s strike is truly a power-move to impact a bottom line. Kellogg’s response to their bottom line in danger was calculated, intimidating workers with potentially being outsourced.
If tax rates increase, corporations won’t hesitate to salvage their kneecapped profit margins and move their headquarters to foreign countries. Is it any wonder?
When corporate lobbyists have long been able to buy and influence political power with dirty money, they won’t tolerate any legislature aimed for them.
Why should they? As our politicians are an apparatus of our system, so are the lobbyists.
The grubby money hoarded at the top between the crony capitalist machine and corporations is constantly regurgitated, amassing and snowballing in amount as it’s traded and passed back and forth. Trickle-down economics? Wealth only ever seems to “trickle up”.
At a point, America used to be innovative and fortuitous. We were the one of the first countries to offer universal public education K-12, we went to the moon, we created a golden age of affordable markets that entitled Baby Boomers took advantage of. Now non-existent is the burning urge of innovation in Americans and the brainpower and determination it took to turn such an unwieldly feeling into success.
The reigns have been turned over to the pompous, arrogant, ironically aged “Silent Generation” politicians who mostly rode the coattails and privilege of their successful parents.
Make no mistake about it, they – and if you want me to name a few… McConnell, Schumer, Pelosi, Graham – are children. As the inner-mechanisms of the crony capitalist machine whir, the jester politicians deploy smoke and mirrors and stomp their feet, refusing to ever compromise.
Very convenient, isn’t it?
Biden’s budget proposed an expansion of government spending, from 20% to 25% GDP. The plan is to tax corporations and high earners to generate $4 trillion over 10 years and then redistribute it to middle America.
What the Biden administrations fails to realize (or maybe they do) is that the money will vanish. Any proverbial “squeeze” on the elite class of the United States would cause a mass exodus of wealth and money siphoned out of the American economy and pumped elsewhere.
As I said in June:
It’s all illusory, so don’t pay any attention to the man behind the curtain or you might break free of the proverbial allegory of the cave corporate America is keeping the majority of us in.
Like a magic trick, if Democrats do enact their optics-heavy bid to make corporations and top-earners pay more in taxes and companies flee the U.S., the illusion will have no choice but to burn out – leaving only stark reality in its place. Once the elite move their money in response to any ludicrous tax hikes, the American public would experience unimaginable shortages, delays, and absurd price increases. People think it’s bad now? We still have 3 years of this disastrous administration left to go.