Hopefully this time Democratic politicians and our media will, finally, call the GOP out on Wanniski’s and Reagan’s Two Santa Clauses scam and put an end to it once and for all…
Trickle down economics has been an utter failure for all except the billionaires. Time to end this discredited economic theory for good. My concern is that it will take an economic catastrophe to discredit the whole trickle down scam for good. I am concerned that unregulated cryptocurrency speculation will cause a Great Depression 2.0 because we don’t learn from history.
"Last week, Federal Reserve chair Jerome Powell rejected the idea of the U.S. holding bitcoin in reserve. "We’re not allowed to own bitcoin,” Powell said. “The Federal Reserve Act says what we can own, and we’re not looking for a law change. That’s the kind of thing for Congress to consider, but we are not looking for a law change at the Fed."
Trump continues to make high-profile appointments embracing cryptocurrency and emerging technologies in his second term. 1) Stephen Miran, tapped as Chair of the Council of Economic Advisers, is a pro-crypto advocate who aims to integrate blockchain and decentralized finance into the U.S. economy. 2) Bo Hines, a former college football player, will head the newly formed Crypto Council. Hines is tasked with balancing innovation and consumer protection as he builds a regulatory framework for digital assets. 3) David Sacks, a veteran of Silicon Valley and vocal blockchain supporter, is stepping in as AI and Crypto Czar. Sacks plans to merge blockchain with AI while bolstering U.S. dominance in both sectors. These appointments signal a clear shift from Trump’s earlier skepticism of digital assets. The big question now is how these moves translate into meaningful policy amid regulatory gridlock and political friction.
If anyone needs proof that bitcoin is a scam and that you will lose your investment, all one needs do is know that Trump is pushing it.
Everything Trump touches dies?
He is the antiMidas.
That Republicans get elected, time and again, and now control the government is all the evidence one needs to prove that there is a dearth of intelligent life in America.
If Americans were truly intelligent, perceptive, reasoning beings, there would be no Republican party, or at least no Reagan-Trumpism.
I know that Trumps merch scam has nothing to do with Trump, what I inquired of was Trump's bitcoin scam conflicting with Musks DOGE Scam
As regards Space X and mining are you talking of mining asteroids, the Moon and Mars,or terrestial mining
If terrestial mining there is a problem 60% of all mined rare-earth minerals are sourced from China. Three other major sources exist in Myanmar, Australia and Mountain Pass, Utah
The Mountain Pass Rare Earth Mine in Utah produces several rare earth minerals, including: cerium, europium, lanthanum, neodymium, and praseodymium.
Lithium comes from Australia and Chile.
Cobalt from Congo, Indonesia, Russia and Australia
Unfortunately, it very well will likely take The Great Depression, Part 2, to wake enough people up. The fact that everything in life goes in cycles makes GP2 ( Great Depression Volume 2) all the more likely, as it has been 100 years since we were in the middle of the roaring 20’s. Oy.
Back in the 80’s, I agreed with Bush, Sr. that supply side economics was “voodoo” economics. Build it and they will come like in Field of Dreams. Except the money doesn’t “trickle down.” Think how small a trickle is anyway. The wealth transfer to the morbidly wealthy and big corporations was not spread out into the economy by spending. Wealthy people don’t need to spend money because they don’t carry debt on necessities like a house, a car, or medical bills like an ordinary person does. Then stock manipulation in the form of stock buybacks became legal. That’s where the Trump tax cuts went. I always thought Republican tax cuts were like quitting your job, then going on a spending spree because the R’s didn’t spend any less money. The R policies were always lies. My husband bought into the Republican corporate line about government spending, hook, line, and sinker.
Thom, I’ve been reading your Substack for about 3 mos now, and the education I’m getting about how the world of money and power really works is very sobering and mind blowing. Reading your words and learning from you is the best Christmas (well, for me, Hanukkah) gift I could give myself. What I’m actually going to do with this new-found wisdom, I’m not sure. But seeing things clearly for what they are is a good start. I hope you and all your loved ones have for yourselves as merry a Christmas as possible.
Yes. Thom, you are so right, and you've told this story many times before; yet I always appreciate it, because it is the distillation of our eternal class war. Now the battle is extending from the looting of the treasury to a looting of Fort Knox, with the proposal that the government trade its bullion for bitcoin. Seriously?
The wealthy and their GOP sponsors are hypocrites to pretend they are opposed to raising the debt. They use the debt to increase their fortunes.
For wealthy individuals, investing in U.S. debt, often in the form of Treasury bonds, is a lucrative financial strategy. They receive interest payments from the government, essentially profiting from their loans to the government over time.
When the government needs to borrow money, it issues bonds, which are then purchased by investors, including wealthy individuals. These investors essentially loan money to the government and receive interest payments in return.
Wealthy individuals often choose to invest in U.S. debt because it's considered one of the safest investments. The perceived stability of the U.S. economy and the government's commitment to repaying its debts make it a reliable choice for these investors.
Wealthy individuals invest in various types of U.S. debt, including Treasury bills, notes, and bonds. These financial instruments offer different maturity dates and interest rates, providing a range of investment options for these individuals.
Recessions benefit the wealthiest because they can afford to buy what others are forced to sell at bargain prices. As unemployment rises, people with home and car loans often have their houses and cars repossessed, losing their equity. After every recession, the wealthy own a larger piece of the pie.
One of my sons was laid off yesterday afternoon, and they didn't even say Merry Christmas.
Gloria, I’m so sorry this happened to your son, and by extension, to you. This is one hell of a tough world we humans have created for ourselves. Jesus’ reminder that “we are in this world but not of it” sure makes sense to me in this context. Life doesn’t have to be this hard, yet, we’ve made it this way. My Christmas wish is that we one day (1000 years from now…???) evolve enough to understand that the only way we’ll survive as a species is to help one another, not tear each other down.
Gloria it isn't just the wealthy that benefit from the debt, universities, mutual funds and pension funds invest in government securities. My wife worked for municipalities in the state of Washington that opted out of social security and instead invested in private retirement investment funds.
Based on your degree of risk adversement,you could choose a variety of plans. My wife chose government securities.
The stock market, after the 1929 collapse become the enemy, and it was deemed necessary that all citizens be invested in the stock market:
The greater the number of individuals with a;direct stake in our capitalistic system the better its chances of surviving. It is very easy to talk about the flaws in our way of life in this country, to demean the free enterprise system, but once you have your money at stake you view things in a different light."(A copyrighted interview from US News & World Report,Aug 4, 1969 quoted on page 70 of a New Monetary System, Charles S. and Russell L. Norburn)
I remind that it is possible to arbitrage. Can borrow in Japan, Switzerland, Scandinavie, etc and invest in US treasuries. At one point early in the Reagan administration, the 30 year bond rate was 18%. The Japanese were, and probably still are, the lagest holders of our national debt. If the Japanese can do it, and remain our allies, why can't the treasury department do the same?
Between my wife and me, we have about 5 government annuities. I am not an economist, but IMHO the BRIC fear seems real. I note that the Saudis, ertswhile our "allies" have been undermining our economy since 1973, and are now playing footsie with other OPEC countries like Iran and Russia.Trump looks like he has been their agent -- in more ways than one, with interlocking interest in high energy prices and stuff like the PGA, and Trump properties in Saudi and Oman.
Trickle down economics has really been “flood up” monies to the 1% who already cheat on their pitiful small taxes to the tune of about $300 billion USD per year and the biggest tax cheats in American history is perhaps the Trump family as described by the Pulitzer Prize winning article in the New York Times. So, the American people did not have enough of the worst POtuS in American history that they barely elected him again! The second go-around he will destroy the economy!!!
Oh man, Thom, It's amazing to see what I have been babbling about, like forever, laid out with history, facts and footnotes, after I finished this. Thank you so much. I wil be forwarding this work to all I know who ever doubted my ravings. Keep an eye on Christmas Tree Lane for us, will you? We've heard, since childhood, that Santa Claus comes down it, but I fear another new one might be wearing a Brown Shirt and black boots.
You would think the Democrats would be on to this by now. The obvious thing to do would be scream about the deficit when Republicans run it up but mostly all we hear are a few squeaks here and there. This just adds to "the Democrats are weak" label.
The Democratic Party is a player in the game. Remember they slop at the same trough as the Republicans. Third parties are not an option, and the Green party has been co opted by Putin, here and in Europe. Our only hope is taking over and reforming the Democratic party.
You are so right. I have said, many times, as an outsider looking in, that the Democrtic Party is the reason America cannot have nice things. While they are vastly superior to the Republicans they always stop short of anything progressive. Witness DNC killing off Bernie in 2016, Pelosie keeping AOC off the committee and so forth. Until progressives sieze control of the party from the very bottom and work up, electing truly progressive people at all levels of government, they are basically just Republican light. Someone (Robert Reich??) wrote a column warning the Dems to move away left from centre and represent the wishes of the people.
IF there is an election in 2026, will those who voted for cheaper eggs realize they were conned or will they just double down?
I receive Reich's substack and comment almost daily. A nice guy,who tries to be balanced and full of hopium (hope and opium), but an apologist and a centrist as to be expected as he is, what I consider, a professional Democrat.
Something that is glossed over, ignored or not recognized is that people vote,or act upon, their identities.
If a person identifies them self as a Democrat or a Republican, that is how they will vote, regardless (ex: yellow dog Democrats) I have voted Democratic since 2016, but don't define myself as a Democrat.
The ideological spectrum in current parlance is a straight line from left to right,
With extremes at both end, and ideological purity tests, which I consistently fail
Left can be everything from a Marxist Leninist to a liberal, to a progressive to an establishment Democrat.
The right can be everything from a NAZI, a Putin, an Orban, to an Iranian mullah or a Saudi Imam, , a John Bircher, or the Lincoln Project, the Bulwark and anti Trumpers, historically William F Buckley Jr.
And now the straight line has been bent into a horseshoe where the Marxist Lenininist left meets the NAZI Putinist right
Several years ago in a publication I no longer recall, I read that, in the late 1950’s, the John Birch Society came up with a long-term plan to dismantle public education by having a gradual Republican take-over of public school boards; then removing art and music (which foster creative and critical thinking), PE and civics from the curriculum, ultimately creating a population of lazy couch potatoes who didn’t know how government works or how to think critically about what was going on around them. Is this anything that you may know about? I have not been able to find anything to verify it.
The media explain this "Voodoo Economics"? I hardly think so! Since they are owned by "the problem class" (AKA: the morbidly rich) it seems highly unlikely that they will do ANYTHING. I mean with ABC collapsing at the first hint of trouble from trump, the Morning Joe crew going to Mar a Lago, the tech billionaires slithering on their stomachs to kiss trump's ass, why would we think that all of a sudden they would do the right thing. With trump primed to jail opponents & "The 4th Estate" it seems just about impossible to right this ship of state. These billionaires that are paying homage to trump could buy trump twice over but No, they'd rather slink away to subvert what's left of our democracy. It's way more important to them to vie for 'chief' oligarch, AFTER Mushy Musk, of course, then to try to do the right thing. The only right thing to these thieves is to make more money & gain more power & influence.
You nailed it. I recommend Lawrence Lessig's Republic Lost that goes hand in hand with the Two Santas GOP strategy. He lays out how big money has eroded the power of individuals, how politicians are now beholden to lobbyists and special interests.
Thom, you forgot to mention how Republicans try and lay a guilt trip on Dems by calling fair taxation of the wealthy hate for the rich, that they want to penalize anyone that want to succeed. What do they have against people trying to live the American dream?
"after Richard Nixon resigned in disgrace and the future of the Republican Party was so dim that books and articles were widely suggesting the GOP was about to go the way of the Whigs."
Thank you Thom, for your as ever cogent reporting on the nooks and cranies of our history. The mother of a long time childhood friend, a staunch Repub campaigner, commited suicide as a result of your statement above. They've been the makings of a cult for generations.
My dad (who grew to detest Republicans after seeing them in action in 1980s and 1990s Texas,) thinks that the Republicans who stick with MAGA will destroy the party and make it vanish like the Whig Party did. Trump will destroy them, but not before he and his minions manage to inflict an immense amount of harm on ordinary citizens.
Yes, for sure. And who needs a political party then? Control will be solidified in the hands of the pre- Civil War Oigarchy that wants it's rightful propitty baak. The have been focuused on this since the 1870s. Listen to the back story of everything ol' Lindsey from SC says.
Hi Thom thanks again for a wonderful historically enriching article. You are incredibly learned and detail oriented. Your knowledge of history is unbeatable and exemplary. Having said that I think writing shorter articles instead of lengthy and too repetitive one makes it more readable.
Take a break one day! Merry Christmas and a wonderful New year with a big fight ahead of us!
I certainly wish our voters had some knowledge of all this. Media doesn't tell them and they do not attempt to find out by themselves. Big business not only did not build more factories and employ more people, they sent their factories overseas and crippled states while doing it.
Trickle down economics has been an utter failure for all except the billionaires. Time to end this discredited economic theory for good. My concern is that it will take an economic catastrophe to discredit the whole trickle down scam for good. I am concerned that unregulated cryptocurrency speculation will cause a Great Depression 2.0 because we don’t learn from history.
Yesterday Trump said he'd invest the treasury in crypto. He has his own. https://finance.yahoo.com/news/much-donald-trump-earned-crypto-130000547.html
"Last week, Federal Reserve chair Jerome Powell rejected the idea of the U.S. holding bitcoin in reserve. "We’re not allowed to own bitcoin,” Powell said. “The Federal Reserve Act says what we can own, and we’re not looking for a law change. That’s the kind of thing for Congress to consider, but we are not looking for a law change at the Fed."
Trump continues to make high-profile appointments embracing cryptocurrency and emerging technologies in his second term. 1) Stephen Miran, tapped as Chair of the Council of Economic Advisers, is a pro-crypto advocate who aims to integrate blockchain and decentralized finance into the U.S. economy. 2) Bo Hines, a former college football player, will head the newly formed Crypto Council. Hines is tasked with balancing innovation and consumer protection as he builds a regulatory framework for digital assets. 3) David Sacks, a veteran of Silicon Valley and vocal blockchain supporter, is stepping in as AI and Crypto Czar. Sacks plans to merge blockchain with AI while bolstering U.S. dominance in both sectors. These appointments signal a clear shift from Trump’s earlier skepticism of digital assets. The big question now is how these moves translate into meaningful policy amid regulatory gridlock and political friction.
If anyone needs proof that bitcoin is a scam and that you will lose your investment, all one needs do is know that Trump is pushing it.
Everything Trump touches dies?
He is the antiMidas.
That Republicans get elected, time and again, and now control the government is all the evidence one needs to prove that there is a dearth of intelligent life in America.
If Americans were truly intelligent, perceptive, reasoning beings, there would be no Republican party, or at least no Reagan-Trumpism.
Of course, that's why they want to destroy publlc education. Turn all schools into indoctrination labs.
Trump has his own crypto product, that is a competitor to Bitcoin.
https://www.worldlibertyfinancial.com/
https://crypto.com/price/trumpcoin
How does that compete with Musks DOGE,or is it part of the same scam?
I don;t think Musk has anything to do with Trump's merch business.
On the other hand, IMHO the future value of Space X is actually in mining.
I know that Trumps merch scam has nothing to do with Trump, what I inquired of was Trump's bitcoin scam conflicting with Musks DOGE Scam
As regards Space X and mining are you talking of mining asteroids, the Moon and Mars,or terrestial mining
If terrestial mining there is a problem 60% of all mined rare-earth minerals are sourced from China. Three other major sources exist in Myanmar, Australia and Mountain Pass, Utah
The Mountain Pass Rare Earth Mine in Utah produces several rare earth minerals, including: cerium, europium, lanthanum, neodymium, and praseodymium.
Lithium comes from Australia and Chile.
Cobalt from Congo, Indonesia, Russia and Australia
Scary stuff, Daniel.
Unfortunately, it very well will likely take The Great Depression, Part 2, to wake enough people up. The fact that everything in life goes in cycles makes GP2 ( Great Depression Volume 2) all the more likely, as it has been 100 years since we were in the middle of the roaring 20’s. Oy.
A legit concern, Kathy.
Back in the 80’s, I agreed with Bush, Sr. that supply side economics was “voodoo” economics. Build it and they will come like in Field of Dreams. Except the money doesn’t “trickle down.” Think how small a trickle is anyway. The wealth transfer to the morbidly wealthy and big corporations was not spread out into the economy by spending. Wealthy people don’t need to spend money because they don’t carry debt on necessities like a house, a car, or medical bills like an ordinary person does. Then stock manipulation in the form of stock buybacks became legal. That’s where the Trump tax cuts went. I always thought Republican tax cuts were like quitting your job, then going on a spending spree because the R’s didn’t spend any less money. The R policies were always lies. My husband bought into the Republican corporate line about government spending, hook, line, and sinker.
Thom, I’ve been reading your Substack for about 3 mos now, and the education I’m getting about how the world of money and power really works is very sobering and mind blowing. Reading your words and learning from you is the best Christmas (well, for me, Hanukkah) gift I could give myself. What I’m actually going to do with this new-found wisdom, I’m not sure. But seeing things clearly for what they are is a good start. I hope you and all your loved ones have for yourselves as merry a Christmas as possible.
Yes. Thom, you are so right, and you've told this story many times before; yet I always appreciate it, because it is the distillation of our eternal class war. Now the battle is extending from the looting of the treasury to a looting of Fort Knox, with the proposal that the government trade its bullion for bitcoin. Seriously?
Unfortunately yes, Jeffrey.
The wealthy and their GOP sponsors are hypocrites to pretend they are opposed to raising the debt. They use the debt to increase their fortunes.
For wealthy individuals, investing in U.S. debt, often in the form of Treasury bonds, is a lucrative financial strategy. They receive interest payments from the government, essentially profiting from their loans to the government over time.
When the government needs to borrow money, it issues bonds, which are then purchased by investors, including wealthy individuals. These investors essentially loan money to the government and receive interest payments in return.
Wealthy individuals often choose to invest in U.S. debt because it's considered one of the safest investments. The perceived stability of the U.S. economy and the government's commitment to repaying its debts make it a reliable choice for these investors.
Wealthy individuals invest in various types of U.S. debt, including Treasury bills, notes, and bonds. These financial instruments offer different maturity dates and interest rates, providing a range of investment options for these individuals.
Recessions benefit the wealthiest because they can afford to buy what others are forced to sell at bargain prices. As unemployment rises, people with home and car loans often have their houses and cars repossessed, losing their equity. After every recession, the wealthy own a larger piece of the pie.
One of my sons was laid off yesterday afternoon, and they didn't even say Merry Christmas.
Gloria, I’m so sorry this happened to your son, and by extension, to you. This is one hell of a tough world we humans have created for ourselves. Jesus’ reminder that “we are in this world but not of it” sure makes sense to me in this context. Life doesn’t have to be this hard, yet, we’ve made it this way. My Christmas wish is that we one day (1000 years from now…???) evolve enough to understand that the only way we’ll survive as a species is to help one another, not tear each other down.
Amen
Gloria it isn't just the wealthy that benefit from the debt, universities, mutual funds and pension funds invest in government securities. My wife worked for municipalities in the state of Washington that opted out of social security and instead invested in private retirement investment funds.
Based on your degree of risk adversement,you could choose a variety of plans. My wife chose government securities.
The stock market, after the 1929 collapse become the enemy, and it was deemed necessary that all citizens be invested in the stock market:
The greater the number of individuals with a;direct stake in our capitalistic system the better its chances of surviving. It is very easy to talk about the flaws in our way of life in this country, to demean the free enterprise system, but once you have your money at stake you view things in a different light."(A copyrighted interview from US News & World Report,Aug 4, 1969 quoted on page 70 of a New Monetary System, Charles S. and Russell L. Norburn)
I remind that it is possible to arbitrage. Can borrow in Japan, Switzerland, Scandinavie, etc and invest in US treasuries. At one point early in the Reagan administration, the 30 year bond rate was 18%. The Japanese were, and probably still are, the lagest holders of our national debt. If the Japanese can do it, and remain our allies, why can't the treasury department do the same?
Between my wife and me, we have about 5 government annuities. I am not an economist, but IMHO the BRIC fear seems real. I note that the Saudis, ertswhile our "allies" have been undermining our economy since 1973, and are now playing footsie with other OPEC countries like Iran and Russia.Trump looks like he has been their agent -- in more ways than one, with interlocking interest in high energy prices and stuff like the PGA, and Trump properties in Saudi and Oman.
People also seem to forget that Trump was humiliated in Mexico and Panama. https://www.newsweek.com/donald-trump-panama-canal-threats-hotel-taxes-court-filing-2005079
https://en.wikipedia.org/wiki/Trump_Ocean_Resort_Baja_Mexico
Trickle down economics has really been “flood up” monies to the 1% who already cheat on their pitiful small taxes to the tune of about $300 billion USD per year and the biggest tax cheats in American history is perhaps the Trump family as described by the Pulitzer Prize winning article in the New York Times. So, the American people did not have enough of the worst POtuS in American history that they barely elected him again! The second go-around he will destroy the economy!!!
Oh man, Thom, It's amazing to see what I have been babbling about, like forever, laid out with history, facts and footnotes, after I finished this. Thank you so much. I wil be forwarding this work to all I know who ever doubted my ravings. Keep an eye on Christmas Tree Lane for us, will you? We've heard, since childhood, that Santa Claus comes down it, but I fear another new one might be wearing a Brown Shirt and black boots.
You would think the Democrats would be on to this by now. The obvious thing to do would be scream about the deficit when Republicans run it up but mostly all we hear are a few squeaks here and there. This just adds to "the Democrats are weak" label.
The Democratic Party is a player in the game. Remember they slop at the same trough as the Republicans. Third parties are not an option, and the Green party has been co opted by Putin, here and in Europe. Our only hope is taking over and reforming the Democratic party.
You are so right. I have said, many times, as an outsider looking in, that the Democrtic Party is the reason America cannot have nice things. While they are vastly superior to the Republicans they always stop short of anything progressive. Witness DNC killing off Bernie in 2016, Pelosie keeping AOC off the committee and so forth. Until progressives sieze control of the party from the very bottom and work up, electing truly progressive people at all levels of government, they are basically just Republican light. Someone (Robert Reich??) wrote a column warning the Dems to move away left from centre and represent the wishes of the people.
IF there is an election in 2026, will those who voted for cheaper eggs realize they were conned or will they just double down?
I receive Reich's substack and comment almost daily. A nice guy,who tries to be balanced and full of hopium (hope and opium), but an apologist and a centrist as to be expected as he is, what I consider, a professional Democrat.
Something that is glossed over, ignored or not recognized is that people vote,or act upon, their identities.
If a person identifies them self as a Democrat or a Republican, that is how they will vote, regardless (ex: yellow dog Democrats) I have voted Democratic since 2016, but don't define myself as a Democrat.
The ideological spectrum in current parlance is a straight line from left to right,
With extremes at both end, and ideological purity tests, which I consistently fail
Left can be everything from a Marxist Leninist to a liberal, to a progressive to an establishment Democrat.
The right can be everything from a NAZI, a Putin, an Orban, to an Iranian mullah or a Saudi Imam, , a John Bircher, or the Lincoln Project, the Bulwark and anti Trumpers, historically William F Buckley Jr.
And now the straight line has been bent into a horseshoe where the Marxist Lenininist left meets the NAZI Putinist right
You will never hear a peep from the MSM corporate controlled mouth pieces. They are part of the plan, since the 1870s.
I save a lot typing Ransom, just call it the corporate media.
Several years ago in a publication I no longer recall, I read that, in the late 1950’s, the John Birch Society came up with a long-term plan to dismantle public education by having a gradual Republican take-over of public school boards; then removing art and music (which foster creative and critical thinking), PE and civics from the curriculum, ultimately creating a population of lazy couch potatoes who didn’t know how government works or how to think critically about what was going on around them. Is this anything that you may know about? I have not been able to find anything to verify it.
The media explain this "Voodoo Economics"? I hardly think so! Since they are owned by "the problem class" (AKA: the morbidly rich) it seems highly unlikely that they will do ANYTHING. I mean with ABC collapsing at the first hint of trouble from trump, the Morning Joe crew going to Mar a Lago, the tech billionaires slithering on their stomachs to kiss trump's ass, why would we think that all of a sudden they would do the right thing. With trump primed to jail opponents & "The 4th Estate" it seems just about impossible to right this ship of state. These billionaires that are paying homage to trump could buy trump twice over but No, they'd rather slink away to subvert what's left of our democracy. It's way more important to them to vie for 'chief' oligarch, AFTER Mushy Musk, of course, then to try to do the right thing. The only right thing to these thieves is to make more money & gain more power & influence.
"Happy 🥴🥺🤔Holidays!'
You nailed it. I recommend Lawrence Lessig's Republic Lost that goes hand in hand with the Two Santas GOP strategy. He lays out how big money has eroded the power of individuals, how politicians are now beholden to lobbyists and special interests.
Thom, you forgot to mention how Republicans try and lay a guilt trip on Dems by calling fair taxation of the wealthy hate for the rich, that they want to penalize anyone that want to succeed. What do they have against people trying to live the American dream?
Blessings to you,Thom,Louise and Family. Happy Holidays to all of your Awesome followers. See you in the New Year ✨🎄🎁❄️☃️
"after Richard Nixon resigned in disgrace and the future of the Republican Party was so dim that books and articles were widely suggesting the GOP was about to go the way of the Whigs."
Thank you Thom, for your as ever cogent reporting on the nooks and cranies of our history. The mother of a long time childhood friend, a staunch Repub campaigner, commited suicide as a result of your statement above. They've been the makings of a cult for generations.
Ho Ho Ho and have a very Happier New Year.
My dad (who grew to detest Republicans after seeing them in action in 1980s and 1990s Texas,) thinks that the Republicans who stick with MAGA will destroy the party and make it vanish like the Whig Party did. Trump will destroy them, but not before he and his minions manage to inflict an immense amount of harm on ordinary citizens.
Yes, for sure. And who needs a political party then? Control will be solidified in the hands of the pre- Civil War Oigarchy that wants it's rightful propitty baak. The have been focuused on this since the 1870s. Listen to the back story of everything ol' Lindsey from SC says.
When Trump proposes tax cuts, the media never mentions that means borrowing from and paying huge amounts of interest to China.
When reporting on raising the debt ceiling, the media never discusses the alternative of raising taxes on the rich. When the marginal rate was above 70% for the high income earners, the US national debt was at its lowest:https://www.statista.com/statistics/187867/public-debt-of-the-united-states-since-1990/
And so was the private debt of US households.
Hi Thom thanks again for a wonderful historically enriching article. You are incredibly learned and detail oriented. Your knowledge of history is unbeatable and exemplary. Having said that I think writing shorter articles instead of lengthy and too repetitive one makes it more readable.
Take a break one day! Merry Christmas and a wonderful New year with a big fight ahead of us!
Ahh this is the piece of the story I was missing. I knew when this began but wasn't sure of how.
I certainly wish our voters had some knowledge of all this. Media doesn't tell them and they do not attempt to find out by themselves. Big business not only did not build more factories and employ more people, they sent their factories overseas and crippled states while doing it.