***Republican President Herbert Hoover: “You know, the only trouble with capitalism is capitalists. They’re
too damn greedy.”
1} Christine Benz, director of personal finance & retirement planning for Moringstar: “Whoever takes over as president is inheriting a fairly robust economy, mild inflation, average-to-below-average interest rates and fairly high valuations for U.S. stocks.” [“How election results could affect your retirement accounts.”; Michelle Singletary; ll/ll/24; Wash. Post]
2] “Manufacturing already has made a comeback…Rebound Trump promises has been underway in many places”: “McLean County is part of an unusually strong jump in manufacturing jobs between 2019 and 2023…The Biden administration tried to use policy to ensure..more..would be union jobs, or at least offer union-level wages..this approach is almost certainly dead due to the results of the election.” [Tim Henderson; 11/17/24; Stateline.org]
***Adam smith: “We can’t have free markets because the world is too complex and independent to let everyone run around doing whatever he or she wants to do. As a society, we have to regulate conduct when it interferes with other people’s freedoms or when it threatens damage to other people’s properties.”
3] “For voters, economy is key”: “..many economists warn..Trump’s plans are likely to worsen the inflation he’s vowed to eradicate, drive up the federal debt and eventually slow growth…Last month, 23 Nobel-winning economists signed a letter warning..a Trump administration “will lead to higher prices, larger deficits, and greater inequality..Among the most important determinants of economic success..are rule of law and economic and political certainty, and Trump threatens all of these.”..The centerpiece of Trump’s economic agenda is taxing imports..In fact, American companies pay them – and then typically pass along their higher costs to their customers via higher prices..Trump has threatened to deport millions of undocumented immigrants, potentially undermining one of the factors that allowed the United States to tame inflation without falling into recession.” [Paul Wiseman; 11/10/24; Assoc. Press]
***Republican President Theodore Roosevelt: “Of all the forms of tyranny the least attractive and most vulgar is the
tyranny of mere wealth, the tyranny of plutocracy.”
4]. “Musk Looks To Benefit From New Pal Trump…Billionaire’s six firms, deeply entangled with the U.S., pose a conflict with any new job he gets” [E.Lipton, K.Grind, D.Fahrenthold, T.Schleifer; 11/10/24; New York Times]
5] “Biggest Donors Expect Returns on Investment…Moguls Look to Lifting of Regulations”: “Limit the reach of federal regulations on artificial intelligence. Make room for cryptocurrencies to thrive. Ease the anti-trust crackdown on big companies. Buy more military drones. And don’t raise taxes on billionaires.” [Eric Lipton; 11/17/24; New York Times]
**!!**!! – This & MUCH MORE is the “to-do list” for Trump from his donor billionaires – WHO. is missing from any concerns here??? – YOU, Mr. & Mrs. lower 90% !!!!!!!!!!!!
*** Supreme Court Justice Louis Brandeis: “We can either have a democracy in this country or we can have great
wealth concentration in the hands of a few. But we cannot have both.”
6] “Trump’s plans likely don’t lower grocery bills…Proposed tariffs, deportation could make food prices rise, according to economists”…”..food producers rely on imported goods like fertilizer, equipment and packing materials. If they’re forced to pay more..they will raise prices….U.S. farmers also could have trouble selling their goods overseas, since other countries would likely respond with retaliatory tariffs..”There is a fundamental disconnect between a stated goal of reducing grocery prices and a tariff policy that only stands to increase those costs.” [Dee-Ann Durbin; 11/17/24 Assoc Press]
7] “Trump tax cut vows face fiscal realty”: “The nonpartisan Congressional Budget Office..estimated..continuing all of the expiring provisions would cost roughly $4 trillion over a decade, and Trump’s campaign proposals could add trillions more to the debt.” [Andrew Duehren; 11/8/24; New York Times]
***!!!***!!! – Republican tax cuts, 1981-2017 increased the national debt from LESS than $1 trillion for 1789-1980 America to some $35 trillion – because they cut tax rates for the obscenely rich – which leads to Right-Wing 7 Republican demands for “austerity” – i.e. – cuts to social programs that benefit YOU – see Roosevelt & Brandeis quotes above & more
*** Adam Smith: “The subjects of every state ought to contribute towards the support of government, as nearly as
possible, in proportion to their respective abilities; that is, in proportion to the revenue which
they respectively enjoy under the protection of the state.”
*** Billionaire Bill Gates: “I need to pay higher taxes. I’ve paid, in absolute, more taxes over ten billion [dollars].
than anyone else, but, you know, the government should require people in my
position to pay significantly higher taxes.”
*** Billionaire investor Warren Buffett: “There’s class warfare, all right, ubt it my class, the rich class, that’s making
war, and we’re winning.” **Buffett has long said his secretary pays taxes at a higher rate
than he does. Recent analysis reveals many billionaires pay a 3.4% tax rate, if anything.
8]. Do. YOUR. own. REAL. research:
A] study 1947-1980 income, wealth, tax rates – compared with 1981-2024 numbers. 1947-1980 top marginal taxe rates AVERAGED 81% – Republicans cut those, first in half, now 1/3-1/4. The 1947-1973 American middle class enjoyed THE. STATISTICAL. PEAK of prosperity in American history. It was “too good a deal”. – for. YOU, so the rich [see Buffett, Brandeis, Roosevelt, Smith quotes above] declared WAR [quietly – through “campaign contributions”]. on. YOU – cut their taxes, cut YOUR income, increased costs for YOUR food, medical care, housing, etc…., move jobs overseas………
B]. find. REAL. critical analysis of “PROJECT 2025” and “Agenda 47”. – to decode what their innocuous language REALLY means to YOU. – it is a Right-Wing blueprint of the R-W “wish list” to COMPLETE the transformation of America into a PLUTOCRATIC. THEOCRACY.
***** WATCH. YOUR. WALLET !!!!! – how uninformed, how misinformed, how gullible. – are. YOU??? If YOU voted for the Con Man, the Entertainer – “who said what you thought” – or – “said what you wanted to hear” – the NUMBERS above – and MUCH, MUCH more – indicate YOU will NOT get what YOU thought YOU voted for; a better, more prosperous life>
*** SO – now what? – vigilance – hold Trump and his Republican enablers to account – but don’t wait until 2026, could be too late. WHY. did 23 Nobel economics winners write a letter warning of economic consequences if Trump puts his plan and his campaign rhetoric into law???? No – they don’t “hate America,” they don’t “hate Trump”. – they examined Trump’s numbers! – and they DON’T. ADD. UP
*** Adolf Hitler: “If you tell a big lie and tell it frequently enough, it will be believed.”
*** New analysis by the “Conservative Think Tank “Committee for a Responsible Federal Budget” finds Trump plans would. WRECK. SOCIAL. SECURITY – But!!! – Trump promised to “fight for and protect SocialSecurity” –
what if Trump DOESN’T ????
***. On October 4th – McDonalds sued the big four meatpackers for “allegedly conspiring for years to limit beef supplies”. – meaning increased cost of. YOUR. Big Mac – what if Trump DOESN’T. support the suit?????
*** “The top four companies control 90% of the cotton seed market, 80% of corn seed, 70% of soybean seed, 67% of pork, and 62% of agrichemicals according to the advocacy group Farm Action.” **These monopolies cost. YOU. at the grocery store and more – what if Trump. DOESN’T. do anything to lower YOUR. costs ????
*** What if “Joe Biden’s “bad economy'”. DOESN’ T change under Trump???
*** What if Trump’s tariffs, tax cuts for the rich, deportations of food, farm workers, construction workers, and others. – DOESN’ T work?? DOESN’T help. YOU ???????????
*** What if the warning by the 23 Nobel Prize winning economists that Trump’s policies will cost YOU money is correct ?????????????? [ does that mean you voted AGAINST. YOURSELF !!!!!!!!!!! ]
*** Are. YOU, Trump supporter. – still going to vote for his Republican enablers in 2026 –
will the same “rules” that applied to Biden & Democrats in 2024. apply to Republicans in 2026 ?????
HANG. ON. TO. YOUR. WALLET !!!!!!!!!!!!!!!!!!!!
Tag: economy
Trump’s Economic Plan – DISASTER if Implemented
The Trump economy “was better”???????? What if Trump had ruled under 4 years of COVID??? What is the leader factor in 2020-2024 inflation – COVID !!! – and of course, top 1% & corporate GREED.
America is a capitalist system – PRIVATE companies sell goods & set prices – not government. There are NUMEROUS corporate CEO confessions – some listed below – where CEOs CONFESSED they had used COVID to inflate their prices. Many/most American industries are controlled by 2-3-4 companies – often in food. Numerous cases where companies have pled guilty to price-fixing collusion. Then there are Trump stupidities – like tariffs……
********!!!!!***** l0/31/24 headline: “New tariffs would lead to price hikes…U.S. companies say they’ll pass added costs to consumers if Trump is re-elected and makes good on his promises”. ****!!!!!*****!!!!!! HERE’s. your proof !!!!!!
First – just a few headlines:
– “Trump’s tariff plan would sow chaos…His attacks would raise prices, hurt markets, spark economic feuds” [10/17/24; Stein & Lynch; Washington Post]
– “Trump’s budget ideas don’t add up…Promises could add trillions of dollars to rising national debt” [9/28/24; Stein; Washington Post]
– “Trump’s fiscal plans could hike U.S. debt…Analyses also cite rising costs for most Americans” [Duehran & Rappeport; 10/8/24; New York Times]
– “Report: Trump would drain Social Security..fund might run out of money within six years under a Trump presidency” [Weil; 10/27/24; Washington Post]
– “Trump’s Big Promises to Big Business…Former President Trump has a ‘For Sale’ sign around his neck” [Goldmacher, Haberman, Swan; 10/27/24; New York Times]
– “Worried about inflation? You won’t like Trumponomics 2.0…former President Donald Trump’s economic agenda seems to be dedicated to raising prices” [Bloomberg Opinion Board; 5/26/24]
– “Beware of Trump’s economic plans…Higher tariffs, politicized central bank, a deliberately weakened dollar and more public borrowing would be dangerous”. [Bloomberg editorial; 5/20/24
– “American Business Can’t Risk Another Trump Term..he is attacking the foundations of American prosperity” [New York Times Editorial Board; 10/20/24]
– “Poorer households at risk with Trump plan…economists say lower-income households would be hit hardest by tariffs..” [Swanson, Duehren, Broadwater; 7/18/24; New York Times]
– “Trump Plans to Make His Massive Tax Cuts for the Rich and Corporations Permanent..which would allow the wealthy to steal from the public”. [Kolhatkar; 4/15/24; The Progressive Pipulist]
– “Trump’s Idea To Drop Prices May Lift Them…Economists See Costs in Three Key Proposals”. [Savage, Haberman, Swan; 6/9/24; New York Times]
– “UAW Slams Trump-Vance As “Menace To The Working Class” [Dispatches; 11/1/24; The Progressive Populist]
– “How Republicans Screw Workers..Efforts by Obama and Biden to enforce labor laws have been systematically undermined by right-wing courts and legislators” [Kuttner; 5/1/24; The Progressive Populist]
Second – do you need details, after the above – how “the champion of the workers” has, WILL, screw over the lower 90%? What would you expect a selfish ‘millionaire/billionaire” to do??? OK – try this:
– “GOP deregulation hurts consumers; new bill from Democrats could help”. [Catherine Rampell; 3/6/19; Washington Post]: “For markets to work, you need a system where either the government protects consumers or consumers can adequately defend themselves…The “neither” option lands you in a kleptocracy..where Republicans have been leading the country for the past few years…”
“Under President Trump, Republicans have repealed or watered down tons of federal rules..notice a striking pattern: Many of them loosen the limits for how much harm businesses can inflict upon consumers…”
“..perhaps where the GOP has been most successful in curbing consumers’ ability to fight back relates to mandatory arbitration clauses..’ [*** FORCED arbitration in front of industry-paid/friendly “judges”]
Third – were YOU really better off under Trump??? What do REAL statistics reveal?
A]. “Were You Better Off Than Trump?” [The Progressive Populist editorial; 4/15/24]: “Donald Trump’s promoters are now asking “Are you better off today than you were four years ago..?”
“By almost any objective standard, the U>S. is in much better shape today…Trump inherited a healthy economy..Non-farm employment fell by 1.4 million jobs in March 2020 and a staggering 20.5 million jobs in April..Unemployment was 6.3% in January 2021..grocery shelves were empty…”
“The British medical journal The Lancet..blamed Trump for an error-filled response to the coronavirus pandemic that analysts said contributed to 40% more deaths compared to other wealthy countries…”
“All those jobs lost during Trump’s last year have been recovered under Biden, plus 423,000 manufacturing jobs..created since..the Infrastructure Investment & Jobs Act in 2021…”
“Inflation has settled back to 3.2%, much of which is caused by corporate profiteering, which Republicans have shown little interest in checking…”
“Despite Republican claims..crime has run out of control under Biden, a recent FBI report noted..crime actually declined significantly in 2023, continuing a post-pandemic trend…”
B] “The Truth About the Biden Economy…His economy is outperforming other countries, and past presidents by a long shot”. [Matthew Winkler; 4/28/23; Bloomberg Opinion]: “..the economy during Biden’s 27 months..witnessed the greatest and fastest recovery of gross domestic product in modern times.. We have a jobless rate that is the lowest in a peacetime economy since World War II..”
C] “The Greatest Economy Ever?..The president deserves the credit he’s taking”. [Dean Baker; 7/17/23; InsideSources.com]: “Since the pandemic, the U.S. has had the highest growth growth rate of any wealthy country. It’s inflation rate is among the lowest..Perhaps even more important were..bills changing the long-term direction of the U.S. economy.”
Fourth – PRICES !!!!! – consider:
A]. “A Tale of Two Consumers”. [Robert Reich; 7/1/24; The Progressive Populist]: “..PepsiCo has so much monopoly power it’s been able to raise prices, blame inflation, shaft consumers, and score record profits..”
B] “Corporate profiteers pandemic strategy: GOUGE CONSUMERS AND BLAME JOE BIDEN” [The Hightower Lowdown; February, 2022]: “Consider diapers..Procter & Gamble announced last April..Covid-driven production costs were forcing it to raise the price for ..Pampers…used the excuse of inflation to inflate the price of diapers..co-monopolist Kimberly-Clark goosed up its prices at the same time…’
“IN 2019..big U. s. corporations hauled in roughly a trillion dollars in profit..two years later, during the pandemic, they grabbed more than $1.7 trillion. Antitrust analyst Matt Stoler finds..this huge profit jump accounts for 60% of the inflation now slapping U.S. families…” [****!!!!!! – got that; 60% of inflation is. CORPORATE GREED !!!*****]
“The CEO of Kroger..gloated last summer that “a little bit of inflation is always good in our business..we’ve been very comfortable with our ability to pass on increases” to consumers…”
“..85% of the U.S. beef market is controlled by just four multibillion-dollar goliaths..this beef cartel has been raising consumer prices during the pandemic..Their profit margin at the end of 2021 was 300% [!] higher than the previous year.”
C]. “FTC Launches Probe Into Surveillance Pricing That Targets Individuals” [Naveen Athrappully; 7/24-30/24; The Epoch Times]”. “[FTC] is looking into how firms are using surveillance pricing to charge different prices to different consumers…In September, the FTC accused Amazon of creating a secret price-setting algorithm.”
D]. “He’s the Expert on Uncovering ‘Shrinkflation'”. [Clare Toeniskoetter; 11/27/22; New York Times]: “With inflation at a 40-year high, business owners have been increasingly shrinking their products in an attempt to hide price increases.”
E]. “Inflation may be cover for gouging” [Paul Davidson; 4/28/22; USA Today]: “..last year, the aggregate profit margin of non-financial corporate business hovered above 13% in all four. quarters, the best performance in 70 years…56% of retailers say inflation has allowed them to raise prices above what’s required to offset higher costs, according to a survey of 1,000 retailers by Digital.com in November. More than half..say they’ve pushed up prices by an average of 20% or more.” [***!!! – got that – best profits in 70 years…prices up by 20%. !!!!!!]
F]. “Quantifying Big Pharma Price-Gouging” [Rick Claypool; Public Citizen News: Nov-Dec, 2021]: “Big Pharma makes almost twice..selling the top 20 prescription drugs in the United States as it does selling the same drugs to..the rest of the world combined…now Big Pharma is using every trick in the corporate influence playbook to fight policies that would reduce U.S. drug spending..” [also including a “Ripping Off Americans” chart for HIV, Autoimmune disease, multiple sclerosis, type 2 diabetes drugs !!!!]
G]. “Auto insurance costs rising at fastest pace since 1970s” [Emily Flitter; 5/16/24; New York Times]: “Geico recently reported a big jump in quarterly profit on higher premiums and lower customer claim..”
***!!! GUESS WHAT??? In details, company names, etc….- one name is missing; Joe Biden……NOBODY. said Joe Biden raised rates or his profit margin by 10-20-30%… GEE – WHY not???? If YOU voted for Trump “because Biden’s at fault for high prices – you’re very badly misinformed. – because this is one more TRUMP. BIG. LIE. – because facts supplied above. are a very small “drop-in-the-bucket” of the vast MOUNTAIN of other facts soundly disproving this. TRUMP. BIG. LIE. – which. GREEDY corporations and Wall Street are more than happy to see YOU accept.
With Justice For All 