Tuesday, September 12, 2017

Waging wars, Awaiting Repairs, and Saving Money For the Wealthy

NEXT ON THE AGENDA is tax reform and the repair of the nation's infrastructure. By tax reform, it is meant by Trump and the conservative community tax relief for the very wealthy, by which they claim the producers will be able to keep more of their own money, and thereby produce more goods and services. What they omit is that production is unnecessary without sufficient demand for the goods and services produced to facilitate their consumption. Demand precedes supply. Without a sufficiently large consumer base with sufficient purchasing power to buy products on the free market, production becomes over production, which is what happened leading up to the great depression of 1929. The foxes are in charge of the hen house. The billionaires make the rules by which we the teeming masses struggle to stay afloat financially, while the corporations enjoy unprecedented profits, the workers sink ever deeper into debt, and the billionaires become trillionaires. Accumulated personal debt in the United States is now thirteen trillion dollars, most of it obligated by the middle and working classes, and the share of the national wealth owned by the top one percent has surpassed twenty five percent of the nation's wealth. Who will buy the products produced by the corporations if the middle and bottom of the economic pyramid continue sinking ever deeper into debt? Can the wealthy be expected to purchase all of the unsold televisions, washer dryers, and cars? Keep looking for a tax cut for the wealthy; it will soon be easy to see. A one trillion dollar payment to repair the infrastructure will barely begin to cover the cost of repairing the nation's highways, bridges, electrical grid, and sewer systems. And yet, we haven't even gotten an infrastructure out of congressional committee, and when we do, it will contain far less than a trillion dollars. The wars of aggression in the middle east that the Unites Stats has waged for the past quarter century have already cost three trillion dollars, with no end in view. Had it not been for these endless wars, the infrastructure could already have been fully funded, and tax relief could have been provided for those who really need it, the low wage workers, who, even if they already pay little or no taxes, are still unable to thrive economically. The endless wars go on, the infrastructure remains in ruin, and the wealthy await their tax cut.

No comments:

Post a Comment