This would be hilarious if it weren’t real, or why I can’t stand economists

Our economic situation is a mess, and the joke is on the working-class. The thinking goes that prices are so high because people (generally) are spending too much. But who has money to spend freely? The wealthy.

Remember those tax cuts Donny with the Combover and his party were so eager to pass? Could that be involved? Evidence suggests this tax cut wasn’t only involved, it is directly responsible. But we haven’t heard about that in the explanations offered by economists. ‘Everyone’ or ‘consumers’ have too much money. ‘Consumers’ are spending too much.

One theory floated frequently is that the $2,000 in stimulus money we were given back during the Pandemic put too much money into the economy. But what was this money actually spent on? I note that all together, all three of those checks combined would only just cover my current rent in Ann Arbor, a notoriously expensive market. How far could anyone stretch $1,000 + $600 + $400? Even before the current inflation, that money did not go very far. The working-class always move their money upward to the already-wealthy through rent and necessities.

Another theory says this inflation is due to money everyone saved during the Pandemic. But who is ‘everyone’? My father still went to work every day to weld metal boxes together; his wife still went to work every day at a care facility. The working-class did not get to sit out the Pandemic, so they certainly weren’t able to stash money away.

But who has the money in this economy? The working-class does not. In fact, all together the bottom 40% make up only 22% of the economy. The money is at the top: the top 40% account for 60% of spending. It is Reagan’s US perfected. The wealthy account for the majority of spending.

So where is inflation coming from? Isn’t it actually that the wealthy have too much money?

Luxury brands have never done better. Working-class markets are faring badly. The wealthy are spending freely, the poor are not.

The way to fix this is to redirect our tax-dollar subsidies. Why are we giving wealthy people more money? Why aren’t we giving ourselves more money instead?

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