- cross-posted to:
- socialism@lemmy.ml
- cross-posted to:
- socialism@lemmy.ml
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The largest upward transfer of wealth in history… so far.
Not counting the ones during Covid or 2008.
Everyone seems to forget the Libor scam/conspiracy. Trillions.
Everyone seems to forget offshore tax havens, or as I like to call it, ‘The Well of Souls’. (£36 TRILLION as of 2016)
Haven’t we seen this headline a few times already? I feel like this was a point made after 2008 and covid lockdown at least.
It was true then and it’s true now.
That was when he was doing the PPP loans and required them to be untraceable, at the time it was the biggest transfer of wealth, this apparently does even more and goes even further
Yeah, it just keeps repeating itself and gets bigger each time. I meant my comment more to read that this is a repeating theme in the us.
Again lol. U guys have not realized that two party system does not work …
It’s working exactly as intended.
This. This is the truth.
Many of us realize that it’s broken, but voting doesn’t seem to fix it…
Yep voted for a long long time and tried to be progressive. At this moment I just want this to be over, so whatever the worse is.
So far
Hey, yanks, until your centre right party (the Democrats) is willing to go all in and run candidates at all levels of government on the slogan of “The Largest Downward Transfer of Wealth in American History”, your far right party (the Republicans) will keep repeating this. But if it makes you feel better, go back to blaming Muslims in Michigan or whatever.
The swing voters in the US is dumb as a brick.
They care a lot more about “culture war” issues.
Don’t hate the 1%, hate the gays!
So make “tax the rich” a culture war thing. Left populism is a winning strategy too.
How? The largest campaign that ever occurred for taxing the rich was occuring by AOC and Bernie around the U.S. The media will air something about Trump taking a green shit after drinking a blue slupee far more. It doesn’t matter until they switch the notion to something that threatens the media and their families lives more than likely. They own the media.
Don’t ask me, a random guy on the internet. Ask your elected representatives, your intellectuals, your think tanks. Your civil society, man, not some random Canadian online.
You’re the one telling us the obvious, as if it was easy to do and we just weren’t smart enough to think of it first.
Left populism is a winning strategy too.
Not if its surpressed in (social) media, unfortunately.
As horrific as it sounds, the US very much needs a ‘Democrat Trump.’ But even that can’t happen in the current media environment. There are all sorts of proposals to address that, but the problem seems to be that people can’t help themselves and keep using Twitter, watching Fox, stay glued to Facebook or whatever.
Trump used to run as a democrat, so we already have that.
“Swing Voter” == “Too Embarrassed To Admit Being A Republican”
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And yet we get banned for talking about the solution.
We get banned for talking about increasing taxes on the wealthy through like progressive tax policy?
So how do we increase taxes on them when they control all our politicians?
No politicians, no problem.
…I can’t use a /s for this. Because, honestly, we might have a shooting war within a decade. I think most of our politicians don’t understand why the social contract was a thing.
Asking the rich to be less rich doesn’t seem to be working so well to me.
Sweet summer child, that won’t happen. It’s far more likely that we just kill them all before those things get voted in.
Senseless killing is a superficial solution. Organization is the sustainable, but less glamurous one.
That won’t ever work in the US.
Not with that attitude. Seems like MAGA succeeded in organizing sufficiently.
What are you gonna do? Kill all CEOs? And then? Kill all politicians? And then? Police? Military? Dissidents? Do you just keep killing? How do you handle the resulting societal trauma?
How exactly do you think any of that can achieve sustainable, progressive change?
Whatever it takes, and peaceful solutions have proven ineffective for decades.
So what do you propose? What are the logistics of it? How do you organize to take out enough systems to take over? What do you do afterwards?
Life isn’t some fantastical action story, it’s the incredibly complex reality we all live in where a single person cannot fathom all the variables therein. You are not trying to understand, you are not trying to be effective, you’re just circle jerking in your fantasy world. And as long as many people keep doing that, living in some kind of hyper-real abstraction of reality, the people actually smart enough to organize and get into power will be able to do whatever they want. You’re just another enabler.
All you have is “organize” or “awareness.” Your action plan is as circle jerky as ours. My guess is you like the direction the country is going in.
My personal solution is to get out of the house and watch it burn from the neighbor’s yard.
I don’t live in your fash country and no, I absolutely despise the way your country is going in and pulling the rest of the world into hell :)
What I have is political activism in a leftist party where I am helping get new members and organizing various events teaching about democracy and its tools, amongst other things, as well as supporting other groups and bettering the local community.
What you have is fear and a desire to feel good about yourself whilst doing and achieving nothing. You’d rather fuck off than pull through on your mighty words - that’s also called cowardice.
Senseless killing is a superficial solution. Organization is the sustainable, but less glamorous one.
Untrue, naked violence has solved more conflicts in this world than anything else so yeah
That is simply not true. Violence is the last resort, and many movements were successful before that. Violence can be effective, but needs to be measured. You must get people on your side, and you won’t achieve that through murder.
Of course it’s more complicated, but in general, to effect lasting change, you need widespread support and a good narrative, just look at MAGA. They didn’t kill people to get into power, they were elected. Now that they are in power, they have legitimacy and can start disposing of the undesirables however they want, slowly turning up the heat.
You will rarely achieve love through hate.
https://en.wikipedia.org/wiki/Social_movement_impact_theory
That would be a brilliant point if anyone, at all, ever, advocated for senseless killing.
Heh. Senseless.
I agree with the premise, it just doesn’t change anything. Change needs to be political, and as long as you keep the neoliberal fuckwits and fascists in power, there will always be enough parasites to fill the empty place.
Change needs to be cultural. So long as we live in our current cultural distinctions of “mine and thine” instead of some sort of collaborative being then this will keep on happening.
That flows directly from the bedrock of our culture which is “Your worth as a human is determined by the work you do in service of building wealth for those above you.”
Well that’s the power of federation.
Except… when most of the action happens in one spot.
I mean, if you can’t talk about killing oligarchs, is it really action??
Well, you have a point.
Not if they keep having terrorist moderators
They do and yet it still is the popular place.
It was less than a week ago!
I think we might be on different pages.
Guess I’ll give up on everything, not have any kids and shoot myself at age 60,… unironically. I have the gun already.
That’s most millenial Americans’ retirement plans.
I hope they consider overdosing on opiates instead. Put to sleep, probably the only way I’ll know true peace
You could do so much more good with that gun.
I have given up on the idea of retirement or security/safety in my lifetime a loooong time back. We live in the worst possible type of dystopia, a world where “evil” won long ago, and has had ample time and opportunity to sink its claws into every aspect of our lives, forever.
And the worst part is that most people won’t even believe it. In fact, almost a majority seem to relish it somehow. Like they want the world to be as terrible as it can possibly be, even for themselves.
And their kids. I couldn’t imagine setting them up for life like this. Then again perhaps they dont really care about them beyond having the “reproduce” achievement unlocked.
My personal take is that the super-elite know there’s no saving our biosphere in our lifetimes so they’re just robbing what they can while they still can.
If your mental health is in that kind of state, please get rid of the gun. The world is better with you here, and we need each other the fight that’s coming.
And if we need guns later, I’m a hobbyist that’s been collecting them for years and I’ve got a TON of them.
The world is better with you here
I can’t imagine any 100lb bag of rice being worse off because one grain is missing.
Grains of rice don’t live, don’t love, don’t build relationships and societies with each other. People do.
Take your ice cream koan elsewhere.
That analogy would work if people were genuinely as identical, thoughtless and replaceable as grains of rice.
You’re not the only one, though.
It’s your life, but you cant predict the future. Maybe there is a chance things work out and you get to a better place in life?
Yes, please, no matter how you feel right now if you are super depressed and you buy a gun anyways, keep it at a friend’s or family member’s place who has guns that you trust, there is no shame in that hell everyone understands, let them have it and go to the range and stuff to target shoot and have fun together as a way of connecting.
Don’t keep it in your house, with ammunition.
Life is really fucking hard right now and brutal permanent choices are almost always a bad idea.
This is not end of the world, history is full of bad moments and we got out of them.
We need people to join protests to help change things, not kill themselves. If we accept that we have no power, we will have no power.
Are we beyond the point of protests yet? Our politicians are actively taking affirmative steps to avoid listening to them.
Are we beyond the point of protests yet?
Very close to it, in some places tragically far past it already.
Did anyone protest when Philadelphia police dropped bombs on their own city in 1985 to kill black people? Didn’t think so.
We have been far past that point for a long while but nobody cares.
Peaceful weekend protests might make people feel like they’re doing something but are not successful. You have to disrupt the economy for people to notice general strikes massive protests.
Oh I will, all the way up to age 60. I’m not going to wait quietly for old age. I have lots of time to flick off conservatives.
But do I actually have any hope at all?
nope!
Our problem is apathy. It is much more of us than them.
If we succeed and still have democracy the laws can be reverted, but as I mentioned the apathy is the biggest problem and the reason how we got where we are.
Our problem is apathy
No, that doesn’t ring true to me even though I hear everyone say it including myself sometimes when I get frustrated.
I think our problem is much more unsettling, our problem is believing being as busy and productive as possible is a sufficient placeholder for boredom, for apathy, for space to understand and let others exploit resources we could have raced to first but left as a gift and that the genocide of indigenous peoples and cultures all over the world is a desperate attempt to make us forget the wisdom and power of letting things be.
That is such a funny fucking joke you made there old buddy old pal. “We got out of them” no we didn’t you fool do you see where we are now?? This has been a build up of events that have happened before. Ignoring that is just plain ignorant and dangerous to the situation at hand, we got here because we never truly “got out of them”.
By all means fight the good fight and keep your friends, families, and neighbors safe. However, we need to stop placating people with this rhetoric.
This is the kind of thing that could lead to the chop chops. But, don’t worry guys. I’m sure it’ll trickle down any day now.
Too bad the republican propaganda machine will blame Biden or brown people or something else, that this is going to remove freeloaders and make the gutted programs save them money. Even if they personally lose their healthcare, somehow it’ll be the democrats that made it that bad. Somehow…
Could? Should
This bill also fully bans Medicaid Gender Affirming Care, adults and all.
Our country is being robbed, our futures stolen
The floodwaters can only be dammed so long before breaking free. Whether that happens via controlled release of pressure or a disastrous blow out is up to the people with the regulatory power. Their failure to address the tide can only end in their painful ruin. For their sake, they better have fast legs if they don’t grow some hearts.
It’s less that the regulators are failing to do their jobs and more that regulators are being given toddlers’ first toolset to do the job that requires some high end tools.
Sorry, my intent was to apply the label of “regulator” to the publicly elected officials and ghouls controlling the course of this legislation (i.e. regulating society). I are engineer, so sometimes I mix my lingo and analogies.
That’s okay.
We’ll take the futures from their offspring.
This will not go unpunished.
These faceless devils have finally sent the scale crashing down on us. That overstep is going to need a correction. Destroy corporate property every where you go. Burn it all down until the flames reach the heights of Musk and Buffet. A civilized future requires us to band against the oligarchs now.
Not me, never had a future.
And it’s behind a paywall. Chef’s kiss.
The Largest Upward Transfer of Wealth in American History
House Republicans voted to advance a bill that would offer lavish tax cuts for the rich while slashing benefits for the poor. By Jonathan Chait House Speaker Mike Johnson Kevin Dietsch / Getty May 22, 2025, 9:21 AM ET
House Republicans worked through the night to advance a massive piece of legislation that might, if enacted, carry out the largest upward transfer of wealth in American history.
That is not a side effect of the legislation, but its central purpose. The “big, beautiful bill” would pair huge cuts to food assistance and health insurance for low-income Americans with even larger tax cuts for affluent ones.
Hakeem Jeffries, the House minority leader, warned that the bill’s passage, by a 215–214 margin, would mark the moment the Republicans ensured the loss of their majority in the midterm elections. That may be so. But the Republicans have not pursued this bill for political reasons. They are employing a majority that they suspect is temporary to enact deep changes to the social compact.
The minority party always complains that the majority is “jamming through” major legislation, however deliberate the process may be. (During the year-long debate over the Affordable Care Act, Republicans farcically bemoaned the “rushed” process that consumed months of public hearings.) In this case, however, the indictment is undeniable. The House cemented the bill’s majority support with a series of last-minute changes whose effects have not been digested. The Congressional Budget Office has not even had time to calculate how many millions of Americans would lose health insurance, nor by how many trillions of dollars the deficit would increase.
The heedlessness of the process is an indication of its underlying fanaticism. The members of the Republican majority are behaving not like traditional conservatives but like revolutionaries who, having seized power, believe they must smash up the old order as quickly as possible before the country recognizes what is happening.
House Republicans are fully aware of the political and economic risks of this endeavor. Cutting taxes for the affluent is unpopular, and cutting Medicaid is even more so. That is why, instead of proudly proclaiming what the bill will accomplish, they are pretending it will do neither. House Republicans spent months warning of the political dangers of cutting Medicaid, a program that many of their own constituents rely on. The party’s response is to fall back on wordplay, pretending that their scheme of imposing complex work requirements, which are designed to cull eligible recipients who cannot navigate the paperwork burden, will not throw people off the program—when that is precisely the effect they are counting on to produce the necessary savings.
The less predictable dangers of their plan are macroeconomic. The bill spikes the deficit, largely because it devotes more money to lining the pockets of lawyers and CEOs than it saves by immiserating fast-food employees and ride-share drivers. Massive deficit spending is not always bad, and in some circumstances (emergencies, or recessions) it can be smart and responsible. In the middle of an economic expansion, with a large structural deficit already built into the budget, it is deeply irresponsible.
In recent years, deficit spending has been a political free ride. With interest rates high and rising, the situation has changed. Higher deficits oblige Washington to borrow more money, which can force it to pay investors higher interest rates to take on its debt, which in turn increases the deficit even more, as interest payments (now approaching $1 trillion a year) swell. The market could absorb a new equilibrium with a higher deficit, but that resolution is hardly assured. The compounding effect of higher debt leading to higher interest rates leading to higher debt can spin out of control.
House Republicans have made clear they are aware of both the political and the economic dangers of their plan, because in the recent past, they have repeatedly warned about both. Their willingness to take them on is a measure of their profound commitment.
And while the content of their beliefs can be questioned, the seriousness of their purpose cannot. Congressional Republicans are willing to endanger their hold on power to enact policy changes they believe in. And what they believe—what has been the party’s core moral foundation for decades—is that the government takes too much from the rich, and gives too much to the poor.
Hakeem Jeffries and anyone else thinking we are ever going to have fair elections again are Fing morons.
By reading this, i had two thoughts:
-
Someday soon, America will burn.
-
The rest of the world should make a Blacklist of all those criminals who are robbing the working class so they cannot go anywhere exept from burning in the hell they created.
I really hope that blacklist is a thing. The 1% are leeches that kill nations, given time and opportunity.
Capitalism
#2 so that Americans can claw back all the money they stole before they can flee.
- Someday soon, America will burn.
I think about this almost daily. I have young kids and I’m terrified of the world they are growing into.
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passionate french chef’s kiss
Wow. Fuck these republicans and fuck the people that voted for them
Thanks!
It also has a bit where judges cant hold people in contempt anymore.
The spiraling deficit will just be something they ultimately blame the democrats for. The rubes will lap it up and vote them in again.
Disable JavaScript to bypass.
Huh. I haven’t heard this tip. Does this work with most paywalls?
In my experience, Yes. Websites tend to execute too much of their site in JavaScript. The paywall part is no exception.
Only with stupid ones.
So far
The French public would have a called a general strike at minimum while the AmeriKans take it in the ass.
Because these two countries are otherwise identical in every way. Good thing you have an easy solution that still works in spite of the existence of assault rifles and wire taps
Not exactly.
The American political system turned into a gaggle of Mafias some time ago, France isn’t quite there yet.
I mean it’s pretty much been that the whole time… Idk I guess I’m just tired of people saying basically “Well here’s an obvious solution that you clearly missed because you’re automatically lazy and/or stupid if you’re from the US, and especially if you don’t have the financial solubility or high-demand skills to easily expatriate or you’re disabled, just get up off your lazy corn-fattened ass and go yell at the people who give the US military their orders. Oh, you say you tried and nothing happened? You must have been an utter and complete failure. You deserve this then.”
Not that that’s what is being said precisely, but it hits the same notes. And DicJacobus, this isn’t aimed at you, but at the original comment in this thread. Unless you agreed with them and I misread your tone
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Then, they should have protested when protesting was made illegal. Now, they’re paying the price for that mistake, unfortunately.
That was around 9/11 and when Americans decided that racism was more important than civil rights.
To be fair the French complain about their access to stolen modern day African money
