The U.S. Is on the Verge of a Marxist President, with Disastrous Possibilities
Marxism wrongly says that capitalism results in economic collapse or war, so it tries to erase capitalism and its supports: private property, individual identity, merit, parental rights, and religion
The power structure and purpose of the Democratic Party has changed radically in the past few years and left even some life-long Democrats aghast at what has happened. Prominent political names who left the party include Robert F. Kennedy Jr., Tulsi Gabbard, and dyed-in-the-wool-liberal attorney Alan Dershowitz. Media names critical of the party include Bill Maher and Jon Stewart. Ron Klain, President Biden’s former chief of staff, said the campaign to force Biden out was “nasty.” The Hill
The current-day Democratic Party presidential nominee’s stated economic and political proposals—few and incomplete as they are, so close to the start of voting—are very Marxist and hugely destructive. (Her father is a professor of economics, emeritus, at Stanford University. Wikipedia describes him as a “Post-Keynesian.” The Economist magazine calls him a “combative Marxist.”) They include:
1. $2 Trillion in Inflationary Deficit Spending
She and/or her “campaign” personnel and “advisors”—meaning who? The current-day Democratic Party bosses who ousted Joe Biden in what New York Times columnist Maureen Dowd called a “putsch” and a “coup”?— proposed $2 trillion in new deficit spending. This alone will cause a repeat of Joe Biden’s high inflation, which, as the following shows, was closer to 40% over four years than 20%. (The alternative, if the Federal Reserve Bank refuses to print the money to buy government debt, will be soaring interest rates that will shut down the economy.)
Larry Summers, who was Bill Clinton’s last U.S. Treasury Secretary and was Barack Obama’s first chief economic advisor, correctly predicted and outspokenly warned that President Biden’s 2021 spending would be very inflationary. (And Biden’s Vice President, today’s Dem. Party nominee, cast two tie-breaking votes in the Senate to turn the two spending bills into law.)
Further, Summers also said that the reported inflation rates would be doubled if they had been calculated as they were in Jimmy Carter’s years, making Biden’s inflation worse than Carter’s; the worst ever:
Carter’s peak year-on-year inflation rate was 13.5%; Biden’s was 8.0%. Double Biden’s = 16.0%. ((Federal Reserve Bank, St. Louis)
Another view of Biden’s peak year-on-year inflation rate, in June, 2022, has been cited as 9.1%. Double that is 18+% (PBS News)
Carter’s peak calendar-year inflation rate was 13.3% in 1979; Biden’s was 7% in 2021 and 6.5% in 2022. Double Biden’s = 14%. (Investopedia)
Official figures estimate that prices rose about 20+% during Joe Biden’s administration to date. Double that = 40+% price increase. This is why people feel so harmed by inflation. It’s huge.
Specifically, the official consumer price index averaged 5.7% over the first three years of Biden’s presidency. Compounded, that equals 18% total. It exceeds 20% figuring in 2024’s CPI to date. Investopedia
Imagine another 40% rise in prices. No one should vote for that.
Why is this Marxist? In mistakenly concluding that capitalism leads inevitably to economic collapse or war, Marxism wages war on capitalism and on everything that supports it. In particular here, it opposes owning private property and paying people for the meritorious value of their work (“from each according to his ability, to each according to his needs”). With inflation, the government gets the money and your money loses value—a form of confiscation.
2. Price controls, which will cause shortages and further rising prices for what remains.
Who would produce anything when costs exceed the allowable price and thus would lose money doing it? Tellingly, Richard Nixon imposed price controls, but they failed badly and he had to end them.
This is a Marxist twofer: Your money is worth less due to inflation, and it’s worth nothing at all if you can’t find anything to buy.
3. Massive increase in income tax rates, capital gains tax rates, and corporate tax rates.
This will flatten the stock market, the economy, and retirement accounts of ordinary people.
Note the word rates. John F. Kennedy (Democrat), Ronald Reagan (Republican), Newt Gingrich (R) plus Bill Clinton (D), and others lowered top marginal tax rates, after which businesses, jobs, incomes, and taxes collected all flourished. JFK’s explanation was “a rising tide lifts all boats.” Conversely, raising tax rates does not increase taxes collected because it discourages productive economic activity.
This is Marxism because Marxists believe people shouldn’t have private wealth; tax it away from them.
4. A 25% tax on unrealized capital gains.
That is, if a property that one owns but hasn’t sold has risen in value, one would have to pay 25% of that increase. Reportedly, it supposedly would apply only to people of $100 million wealth. MSM Sounds fair? It has been almost universally panned, even by establishment media, such as the Washington Post. It would force a lot of selling of stock to raise the money to pay the tax; a crashing stock market would result, with bankruptcies to follow.
Worse, who would invest money that could be taxed this way when they can just spend the money on themselves or invest in short-term treasury bonds, which would mature so quickly that no unrealized capital gains would result? That will shrink all investments in goods, services, and the jobs that come with them, wiping out countless existing jobs too.
Bear in mind that when an amendment to the U.S. Constitution was proposed to create the federal income tax, precedent and discussions at the time put the tax rate in the low single digits and would apply only to a small number of very wealthy people. Like the camel’s nose under the tent, once the amendment (16th) was approved, far more people quickly became taxed, and taxed at higher rates. Expect the same today with devastating consequences.
For example, if you have a home or business that is worth more than you paid for it, that excess is an unrealized capital gain—“unrealized” because you haven’t sold it. If the income threshold for the tax is lowered, many small businesses and home owners might have to sell out to get the money to pay that tax. It will crash the economy and wreck countless lives. Even people getting government money will be ravaged.
This fits the Marxist perspective that your property and how you choose to sell it isn’t yours.
5. The combined effect of price controls and massive new spending will far exceed Biden’s inflation—which, to repeat, was understated by half in government figures, due to accounting changes that over the years have redefined the consumer price index (CPI).
6. Business executives who support her say that she won’t be able to get all that passed by Congress. She doesn’t have to.
If nothing passes Congress, individual taxes will rise as that portion of the Tax Cuts and Jobs Act (signed 1-1-2028) expires in 2025. Investopedia
These proposals signal a hostility to private businesses. Her presidential administration will have enormous power to “regulate” private businesses out of business—the Marxist goal all along. Every dollar of investments that create jobs and prosperity will be chilled.
Her social Marxism (see below) will be hugely disruptive.
Recently, she and/or her unnamed advisors have voiced several proposals that sound a little more accommodating to the private sector, but even watered-down versions would painfully hurt the private—jobs and prosperity creating—sector.
These changes all of a sudden? Not believable. Especially as they come days before her scheduled debate with her opponent, and she is copying his ideas and claiming them as her own, with the media’s connivence.
Moreover, passage of most of these ruinous proposals can’t be ruled out:
The two major Presidential candidates are virtually tied in publicly reported polls (which are of dubious quality).
Democrats could keep control in the Senate if they lost just one Senate seat and their Vice President (if elected) could cast tie-breaking votes.
The present majority leader in the Senate has signaled that the filibuster hurdle of 60 votes will be discarded, so only 50 votes + VP tiebreaker can pass anything.
Democrats could control the House if they won back just a few House seats.
Democrat power brokers are ruthlessly efficient in keeping Congresspeople and Senators in line, more evident than ever after they forced a sitting President to withdraw.
And Democrats have demonstrated extraordinary effectiveness in ballot harvesting and getting out the vote. Such as:
Motor-voter laws register noncitizen “newcomers” who get driving licenses or other IDs, which are increasingly issued by many states and localities. On paper, supposedly (perhaps), they are on lists that do not register them to vote. In practice, they are on lists, and who ensures that these lists don’t get onto the voter rolls?
Lest We Forget about Her Social Marxism
In writing Part 3 of my series on how the cold dark night sky drains entropy and allows capitalism to keep making lives better by finding and using new information, I was amazed as I came to realize that much of the “craziness” we are seeing derive from social aspects of Marxism (aka “cultural Marxism”). Because in fighting capitalism, it sets out to destroy social supports of capitalism: private property rights, individual identity, individual merit, parental rights, non-discriminatory teamwork, and religion, the last of which acts—civilly—to disperse power and be a bulwark against big-government centralization of power.
Most pernicious of all is the notion of “oppressed vs. oppressor,” aka “class struggle,” as you will find in the opening of Marx and Engels’ The Communist Manifesto, because it divides people and pits them against each other based on whatever grievance is handy. It fills people with rage and hate against “them” and allows frenzied shock troops to suppress opposition. All this allows big government to divide and rule people into submission and oppression.
During the riots of 2020 (strangely allowed while law-abiding citizens were shut down by “shelter in place” and forced to wear face masks or else be called selfish and a menace to other people), she was widely reported in the media to urge more violence and to have contributed money to bail out rioters—people who must have been the worst of the worst offenders, given how few people were arrested and held on bail.
Those “largely peaceful” riots burned police cars, battered and injured police officers, and, among other things, ransacked food and drug stores in minority neighborhoods. One set of rioters moved so threateningly on the White House that the Secret Service felt the need to move the then-President to a more secure location—but don’t call that “insurrection.”
Now the rioters, who are also tolerated, support Iran-backed, terrorist Hamas and threaten more than Jewish Americans. Iran and Hamas kill LGBT+. They suffocate women’s freedoms. Christians and Jewish people are persona non grata or worse. Marxists are going along with them, or are silent about them, or adopt a pose of impotent neutrality that tries to please both sides. Don’t expect any help from a Marxist-led government with a strongly pro-Hamas wing of the Democratic Party.
Add to that various ways the Cloward-Piven strategy is being used to totally overwhelm America, such as open borders that allow criminal gangs, terrorists, and foreign armed forces to easily enter the U.S. (also in Part 3).
No one will be safe from physical harm, financial impoverishment, social punishment, and / or gut-wrenching emotional turmoil if the Dem. candidate is elected President.
My alternate title for this piece was “Marxist Hell Is on the Ballot in November.” I can’t argue with the sentiment. It’s just too narrow for my taste.
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Coming up soon: How the Cold Dark Night Sky Signals an Undying Drive for the Best that Is in Us.
Good Health to You!
We are so f'd.