We are living in the worst wealth inequality in American history. A good chunk of the American workforce is making under $20/hour. A good chunk of people are going to lose their health insurance after the republican administration cut the ACA subsidies and cut access to medicaid. A good chunk of families are going to be food insecure because of the cuts to food aid the republican administration implemented. Now after all that, I hear we are probably not even going to get a ballroom because it’s kind of illegal.
Choice-of-SteinsGate on
Here’s the simple FACT:
Donald Trump could have sat on his hands this past year; done nothing, and the economy would be much more stable right now.
The Trump administration is ushering in the greatest redistribution of wealth in a generation.
Trump has single-handedly made our affordability crisis and economic inequality in this country worse.
The value of the US dollar has WEAKENED against other currencies, goods and services. Households are losing purchasing power, incomes are not keeping up, and Donald Trump wants to compound these problems specifically for renters, first time buyers and families.
Reminder that Trump has been forced to reverse many of his tariffs precisely because they were raising costs, hurting domestic industries, regressively taxing Americans, causing trade wars, etc..
Even then, a recent analysis revealed that Americans are paying 96-98% of the cost of Trump’s tariffs. Shocker!
Polls show that the majority of voters disapprove of Trump’s handling of the economy; an issue he primarily campaigned on no less.
His historically low approval ratings are a result of his inability to address the issues that Americans care most about.
Instead, he is fixated on monetizing the presidency to the tune of billions while he pushes a kleptocratic and authoritarian agenda that is literally stealing from the poor to give to the rich while serving a small number of political and wealthy elites at the expense of most Americans.
Trump’s big ugly Bill extends tax breaks and incentives for the rich and corporations while not even remotely offsetting the costs by stripping millions of Americans of their healthcare, their food assistance and their financial opportunities.
Trump is throwing lavish, tone deaf parties and demolishing the White House to make way for his increasingly expensive “ballroom” while Americans suffer under the economic tyranny of his administration.
Trump is only putting on the appearance of addressing “affordability” while his policies run contrary to the very idea.
The only Trump/Republican policy that “trickles down” are his tariffs that pass costs down to American companies and consumers.
Trump’s policies are exploding the debt and deficit and his tariffs are functioning as what Kamala Harris referred to as a “national sales tax.” Except these taxes are regressive and disproportionately tax small businesses, low income and working class Americans.
The government is obfuscating economic data and lying to investors; straining our economic relationships with other countries while ignoring inflation, labor shortages and poor jobs figures.
The Trump administration is distorting facts and eliminating transparency while firing labor directors and qualified civil servants without cause; stripping them of their protections and replacing them with MAGA loyalists.
The Trump regime is also appointing corrupt billionaires, technocrats, corporate cronies, special interests, and rich MAGA donors into high ranking positions of power.
Trump’s legislation also invests heavily in national security on top of providing extensive tax cuts for corporations and rich people. These costs are *not* being offset by policies that gut social programs, slash funding for healthcare, food assistance and scientific research, that defund and/or dismantle community support structures, public health and environmental initiatives, and the agencies responsible for protecting consumers and regulating predatory financial institutions.
Trump is creating a kleptocracy by concentrating economic power and resources into the hands of a small group of politically powerful and rich elites while the rest of Americans suffer from financial hardship brought on by Trump’s own policies.
Trump has also been shamelessly engaging in massive insider enrichment schemes while accepting bribes, political contributions and lavish gifts from billionaires, CEOs, foreign governments, autocrats and monarchs in exchange for economic and defense deals, political favors, lax regulations, US security guarantees, clemency, and influence and access to the president.
Trump has been pushing crypto-friendly policies that directly benefit him, his family, his political connections and investors in Trump family meme coins and businesses.
Trump is acting like a Mafia Don(ald); intimidating American companies and CEOs into giving the government a financial stake in their businesses and political leverage over them and how they run their companies.
Trump has also been pressuring and bullying the Fed board; ignoring the independence of these agencies and threatening its governors until they submit to his demands, or else be replaced with loyalists who align with him on reckless monetary policy.
Trump managed to win the election by lying to the American people about his willingness to address these issues. Then he inherited a growing economy for the SECOND time and tried to take credit for whatever positive economic trends carried over into his administration. But he only ended up destabilizing the American economy, along with global trade within his first 100 days in office owing to his disastrous, unilateral and haphazard policy decisions.
Decisions that have led to higher prices for Americans, severely diminished consumer confidence, volatile supply and demand fluctuations, trade wars and retaliation from trade partners, slowed job growth, supply chain disruptions, labor shortages, market volatility, bailouts, among other things, and all while he continues to escalate economic and diplomatic tensions between the US, its allies, trade partners and foreign competitors, even forcing some of our economic and geopolitical allies to turn to China, which no doubt contributed to China’s record breaking trade surplus.
Additionally, no single Trump policy has contributed to lower costs.
Changes in gas prices for instance, were primarily due to seasonal demand patterns and crude oil prices dropping in response to a global economic slowdown.
Trump is also riding the coattails of a Biden administration that oversaw one of the strongest and fastest economic recoveries in the post-pandemic world.
The White House’s claims about the economy aren’t just misleading, they’re an example of how this administration misrepresents and distorts facts to distract voters from Trump’s declining approval ratings and his failure to address systemic economic issues.
It’s also crucial to remember that the GDP figures Trump brags about are not a measure of Americans’ financial health, accurate data or not.
The facts behind the administration’s data tell a different story than the one Trump is peddling:
– An AI bubble and an extreme overvaluation of tech companies is inflating data.
– This bubble could implode at any moment in response to a multitude of contingencies, sending the economy and the market crashing.
– Tariffs contribute artificially to this data as well.
– Inflationary pressures also play a role in padding the data
– Most of this growth is bloated by the rich getting richer—much richer—while most everyone else is either struggling or getting poorer.
– Spending and investment figures are carried disproportionately by the wealthiest consumers and investors.
Trump and his allies say that this is the “golden” age of America. No, Trump is heralding another “gilded” age. Sadly, his supporters don’t understand the difference because that would require basic knowledge of US history.
StrangerFew2424 on
*greatest economy for billionaires.
lactose_cow on
its the greatest economy ever for the epstein class.
badwithnames123456 on
The rich been getting richer faster than the poor have been getting poorer, so on average it really is great! Ask any economist.
Justaregard on
Our greatest economy was post WW2 when Europes infrastructure was greatly diminished and the wealthy had 90% tax rates.
probablymagic on
I’d be very curious to hear from Bernie what *was* the greatest economy in history.
Like, we’ve never seen real wages higher than today in the US, women and minorities have never had as much pay equality and career potential, unemployment is quite low, retirement accounts are ripping, etc.
When exactly were the good old days?
Artistic-Cannibalism on
The existence of the stock market has done irreparable damage to the perception of the economy… and I’m starting to think that it was a mistake.
briinde on
Alternate take: …so far
butteredbreadinstead on
says the man that never held a job a day in his life 😆
12 Comments
[deleted]
I feel that, Bernie, I feel that.
We are living in the worst wealth inequality in American history. A good chunk of the American workforce is making under $20/hour. A good chunk of people are going to lose their health insurance after the republican administration cut the ACA subsidies and cut access to medicaid. A good chunk of families are going to be food insecure because of the cuts to food aid the republican administration implemented. Now after all that, I hear we are probably not even going to get a ballroom because it’s kind of illegal.
Here’s the simple FACT:
Donald Trump could have sat on his hands this past year; done nothing, and the economy would be much more stable right now.
The Trump administration is ushering in the greatest redistribution of wealth in a generation.
Trump has single-handedly made our affordability crisis and economic inequality in this country worse.
The value of the US dollar has WEAKENED against other currencies, goods and services. Households are losing purchasing power, incomes are not keeping up, and Donald Trump wants to compound these problems specifically for renters, first time buyers and families.
Reminder that Trump has been forced to reverse many of his tariffs precisely because they were raising costs, hurting domestic industries, regressively taxing Americans, causing trade wars, etc..
Even then, a recent analysis revealed that Americans are paying 96-98% of the cost of Trump’s tariffs. Shocker!
Polls show that the majority of voters disapprove of Trump’s handling of the economy; an issue he primarily campaigned on no less.
His historically low approval ratings are a result of his inability to address the issues that Americans care most about.
Instead, he is fixated on monetizing the presidency to the tune of billions while he pushes a kleptocratic and authoritarian agenda that is literally stealing from the poor to give to the rich while serving a small number of political and wealthy elites at the expense of most Americans.
Trump’s big ugly Bill extends tax breaks and incentives for the rich and corporations while not even remotely offsetting the costs by stripping millions of Americans of their healthcare, their food assistance and their financial opportunities.
Trump is throwing lavish, tone deaf parties and demolishing the White House to make way for his increasingly expensive “ballroom” while Americans suffer under the economic tyranny of his administration.
Trump is only putting on the appearance of addressing “affordability” while his policies run contrary to the very idea.
The only Trump/Republican policy that “trickles down” are his tariffs that pass costs down to American companies and consumers.
Trump’s policies are exploding the debt and deficit and his tariffs are functioning as what Kamala Harris referred to as a “national sales tax.” Except these taxes are regressive and disproportionately tax small businesses, low income and working class Americans.
The government is obfuscating economic data and lying to investors; straining our economic relationships with other countries while ignoring inflation, labor shortages and poor jobs figures.
The Trump administration is distorting facts and eliminating transparency while firing labor directors and qualified civil servants without cause; stripping them of their protections and replacing them with MAGA loyalists.
The Trump regime is also appointing corrupt billionaires, technocrats, corporate cronies, special interests, and rich MAGA donors into high ranking positions of power.
Trump’s legislation also invests heavily in national security on top of providing extensive tax cuts for corporations and rich people. These costs are *not* being offset by policies that gut social programs, slash funding for healthcare, food assistance and scientific research, that defund and/or dismantle community support structures, public health and environmental initiatives, and the agencies responsible for protecting consumers and regulating predatory financial institutions.
Trump is creating a kleptocracy by concentrating economic power and resources into the hands of a small group of politically powerful and rich elites while the rest of Americans suffer from financial hardship brought on by Trump’s own policies.
Trump has also been shamelessly engaging in massive insider enrichment schemes while accepting bribes, political contributions and lavish gifts from billionaires, CEOs, foreign governments, autocrats and monarchs in exchange for economic and defense deals, political favors, lax regulations, US security guarantees, clemency, and influence and access to the president.
Trump has been pushing crypto-friendly policies that directly benefit him, his family, his political connections and investors in Trump family meme coins and businesses.
Trump is acting like a Mafia Don(ald); intimidating American companies and CEOs into giving the government a financial stake in their businesses and political leverage over them and how they run their companies.
Trump has also been pressuring and bullying the Fed board; ignoring the independence of these agencies and threatening its governors until they submit to his demands, or else be replaced with loyalists who align with him on reckless monetary policy.
Trump managed to win the election by lying to the American people about his willingness to address these issues. Then he inherited a growing economy for the SECOND time and tried to take credit for whatever positive economic trends carried over into his administration. But he only ended up destabilizing the American economy, along with global trade within his first 100 days in office owing to his disastrous, unilateral and haphazard policy decisions.
Decisions that have led to higher prices for Americans, severely diminished consumer confidence, volatile supply and demand fluctuations, trade wars and retaliation from trade partners, slowed job growth, supply chain disruptions, labor shortages, market volatility, bailouts, among other things, and all while he continues to escalate economic and diplomatic tensions between the US, its allies, trade partners and foreign competitors, even forcing some of our economic and geopolitical allies to turn to China, which no doubt contributed to China’s record breaking trade surplus.
Additionally, no single Trump policy has contributed to lower costs.
Changes in gas prices for instance, were primarily due to seasonal demand patterns and crude oil prices dropping in response to a global economic slowdown.
Trump is also riding the coattails of a Biden administration that oversaw one of the strongest and fastest economic recoveries in the post-pandemic world.
The White House’s claims about the economy aren’t just misleading, they’re an example of how this administration misrepresents and distorts facts to distract voters from Trump’s declining approval ratings and his failure to address systemic economic issues.
It’s also crucial to remember that the GDP figures Trump brags about are not a measure of Americans’ financial health, accurate data or not.
The facts behind the administration’s data tell a different story than the one Trump is peddling:
– An AI bubble and an extreme overvaluation of tech companies is inflating data.
– This bubble could implode at any moment in response to a multitude of contingencies, sending the economy and the market crashing.
– Tariffs contribute artificially to this data as well.
– Inflationary pressures also play a role in padding the data
– Most of this growth is bloated by the rich getting richer—much richer—while most everyone else is either struggling or getting poorer.
– Spending and investment figures are carried disproportionately by the wealthiest consumers and investors.
Trump and his allies say that this is the “golden” age of America. No, Trump is heralding another “gilded” age. Sadly, his supporters don’t understand the difference because that would require basic knowledge of US history.
*greatest economy for billionaires.
its the greatest economy ever for the epstein class.
The rich been getting richer faster than the poor have been getting poorer, so on average it really is great! Ask any economist.
Our greatest economy was post WW2 when Europes infrastructure was greatly diminished and the wealthy had 90% tax rates.
I’d be very curious to hear from Bernie what *was* the greatest economy in history.
Like, we’ve never seen real wages higher than today in the US, women and minorities have never had as much pay equality and career potential, unemployment is quite low, retirement accounts are ripping, etc.
When exactly were the good old days?
The existence of the stock market has done irreparable damage to the perception of the economy… and I’m starting to think that it was a mistake.
Alternate take: …so far
says the man that never held a job a day in his life 😆