Hot Damn! Fuck all’y’all, I’m a One-Percenter!!!
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The Powell Memo, 1971, is responsible in large part for the ideological underpinnings.
The Powell Memo (AKA the Powell Manifesto) ⋆ Reclaim Democracy!
There are some very eerie graphs concerning total debt:GDP ratio and wealth concentration that show the first peak (which is lower than now) was in 1928, just before the great depression:
Funny how the two overlap so closely. They both show the mid-20th century as a time of middle class prosperity, when tax rates on the wealthy were around 90%.
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It’s only money.
(Okay, throw me some too.)
But let’s say the ELITE global 0.1% (not just us making more than US$32k - we hit $38k last year but the mortgage is paid) might think they can ride-out Tramp for a quarter or three. Can they, really? Shareholder pressure gets nasty.
But I wonder. Tramp was notoriously bad at business except for marketing his name on reality TV. He bankrupted casinos in good times FTW! He contradicts himself constantly - totally untrustable. Why would 1%ers have any faith in his biz sense?
His tax breaks were great for the MAGAF (Microsoft, Apple, Google, Amazon, Facebook) he spews about. Funny, that.
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nobody should; its more or less astrology / an esoteric cult / religion anyway.
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Thanks for posting the Powell Memo to the U.S. Chamber of Commerce* – I hadn’t seen it before. The postwar economic anomaly wasn’t going to last forever, but its demise was sped along by “free” market ideologues who thought they were saving it from socialism (including, presumably, that Commie Eisenhower’s brief 90% top tax rate during their mythical 1950s paradise).
Part of that process was appealing the the Know-Nothing 27%, starting with the Southern Strategy and the “Silent Majority”. It seems that this approach was inevitably going to result in allying themselves with actual and open right-wing populists the moment there weren’t enough people left who lived through the 1930s and '40s to say “are you out of your goddamned minds?!”
The graphs are also useful. This famous one goes well with them.
[* important as always to note that the USCoC isn’t a government agency but a private pro-business think tank]
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I’m sure the losses will trickle down to the common people, because that’s how “trickle down” really works. Come one, come all. It’s going to be a thrill ride. Fun for the whole family.
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A jr.college speech class required an impromptu talk on trickle-down. The winner’s topic: Shit Flows Downhill.
Somehow I don’t believe that Trmp is a secret redistributive socialist egalitarian.
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It gets even worse.
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