Trump’s promise that corporations will use his giant new tax cut to make new investments and raise workers’ wages is proving to be about as truthful as his promise to release his tax returns.
When corporations do make investments, they’re often in their foreign locations where workers are paid less, and in labor-saving technology. I expect wage growth in the US will remain anemic.
Which is kinda the whole point.
The stock market, only slightly less of a racket than war.
The working class of yesteryear knew to stay out of the market, was considered a rich mans game.
Sad how the masses have been conned.
If the wealthy take a bigger share of the economic pie we create each year, then one way or another, our share becomes a smaller share.
If the wealthy making a lot of money was not so expensive for those further down the economic ladder (like myself), I wouldn’t care how much more they made.
Even before Reagan let the genie out of the bottle with neo-liberal, supply side economics and deregulation, the seeds were sown when Nixon took the dollar off the gold standard entirely and they started printing money with faith and oil as the backing. Financialization took off, debt, both personal and national increased as people had to borrow to continue the lifestyles they were used to. The government debt ballooned as they increased military spending to unprecedented levels and now here we are 40+ years in the future teetering on collapse. I’m waiting for this house of cards to collapse, it almost did in '08 but taxpayers saved the day. They won’t be able to again.
From the Ruling Class Observer
As I have said before on Common Dreams, Trump’s big problem with taxes is all of his offshore investments which are really a scam to hide money where it cannot be taxed. The Panama Papers was all about the large number of rich Americans using this scam to not pay taxes, and Trump is mentioned in the Panama Papers over 3,500 times.
What awaits us, when the monopoly game ends?