wealth

Trump corruption with a devil shadow

For years, Republican lawmakers and right-wing media outlets frothed at the mouth over Hunter Biden’s laptop and fabricated tales of Burisma “corruption” — stories so thoroughly debunked that the FBI informant who invented them, Alexander Smirnov, is now serving six years in prison for his lies. The GOP knew the Burisma bribes were fake Russian disinformation from the start, yet they weaponized these fabrications to launch impeachment proceedings and relentlessly smear the Biden family. Meanwhile, they’ve maintained a deafening silence about the brazen, documented, and ongoing Trump corruption stench emanating from the convicted fraudster‘s second presidency.

The hypocrisy is breathtaking in its audacity. While Republicans manufactured outrage over phantom millions supposedly flowing to the Bidens — money that never existed, deals that never happened, corruption that was entirely fictional — they’ve turned a blind eye to the very real, very documented flood of cash pouring into Trump’s coffers from foreign governments, cryptocurrency schemes, and pay-to-play access deals that would make a banana republic dictator blush. Maryland Representative and House Judiciary ranking member Jamie Raskin called it a “gangster state” in a recent interview with MSNBC‘s Chris Hayes.

What follows is not speculation, not innuendo, not the fever dreams of political opponents. This is a meticulously documented catalog of corruption so vast and shameless that it dwarfs anything previously seen in American presidential history. From $346 million in inaugural slush funds to $5.5 billion foreign real estate deals, from cryptocurrency pump-and-dump schemes netting nearly a billion dollars to a $400 million plane gift from Qatar — the Trump administration has transformed the presidency into a personal ATM with all the subtlety of a smash-and-grab robbery.

The Teapot Dome Scandal of the 1920s served as the quintessential symbol of government corruption for decades — over a mere $7 million worth of bribes to Interior Secretary Albert Fall. It was eclipsed and replaced by Watergate, shortly preceded by the resignation of Vice President Spiro Agnew over the discovery of his $300,000 operation that funneled cash stuffed into plain envelopes by bag men into the White House. Trump’s corruption represents a quantum leap beyond even these watershed moments in terms of sheer orders of magnitude, as well as the brazen manner in which the heists are being conducted in broad daylight.

The same party that spent years screaming about imaginary Ukrainian energy company bribes and fantasy Chinese business deals has remained conspicuously silent as their standard-bearer openly auctions off American foreign policy, drops federal investigations for donors, and literally sells dinner invitations for millions of dollars. The cognitive dissonance would be comical if it weren’t so dangerous to our democracy.

What is an example of political corruption in the United States? You cannot find a bigger collection of brazen examples. This is the story they don’t want you to focus on — the real corruption, the documented grift, the unprecedented monetization of the American presidency happening right before our eyes. I’ll be aiming to keep this list updated with the inevitable additions to come.

Financial Gains from Inaugural Funds and Campaign Donations

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Trump tax cuts right-wing economics

At least, not according to what Republicans promised when they passed them. The Trump tax cuts didn’t work to grow the economy, increase revenues, alleviate the debt, or benefit ordinary Americans as alleged.

The Tax Cuts and Jobs Act (TCJA) was introduced by then-Speaker of the House (and fiscal hawk) Paul Ryan and signed into law by then-President Donald Trump on December 22, 2017. It permanently reduced the corporate tax rate from 35% to 21%, and lowered the overall tax for all brackets — seems fair, right? Except the wealthy walked away with 50 times the amount of tax benefit as the lower brackets.

Trump tax cuts add $1.5 trillion to the deficit

Not only did the tax cuts not raise revenue as promised — they became a liability on the balance sheet when almost immediately going into the red. The Joint Committee on Taxation (JCT) estimated the TCJA would add approximately $1.5 trillion to the federal deficit over 10 years, after accounting for any temporary growth effects. The national debt will rise to accommodate as we borrow money to make up the shortfall between earnings and expenditures.

The Trump tax cuts reduced federal tax revenue, with significant declines in corporate tax receipts (surprise, surprise!). They did the exact opposite of what they promised to do — leaving our economy in a more precarious position even before the pandemic hit.

Who benefited from Trump’s tax cuts?

Conservatives and right-wing economists claim that tax cuts will help ordinary people by raising wages. In reality, however, corporations instead used their tax windfalls to do other things: stock buybacks, dividends, and executive pay. In fact, this happens over and over again each cycle of empty promises from so-called “fiscal conservatives” who in large part know exactly what they do.

Billionaires love Trump tax cuts!

They seem to believe they are entitled to the lion’s share of America’s money (as they have been since at least Mudsill Theory in 1858 and even before) and by gum, nothing is going to stop them — not democracy, not a sense of decency, not a sense of institutional preservation as used to be the very core pillar of Conservatism. No longer. Now it’s a will to power and to plunder. It’s not so much trickle down as it is hoover up.

Reaganomics, Trickle down, Laffer curve, Supply-side economics — it’s all the same

The magical revenue-generating power of tax cuts has been long promised and never delivered by right-wing Republicans. Since the 1980s edition, Reaganomics — the economic “theory” drafted on the back of a cocktail napkin dubbed the Laffer Curve for the slightly drunken man who scribbled it — has moved immense amounts of wealth upwards into the hands and coffers of the 1% and 0.1% at the expense of the masses.

The argument is that rich people will take the extra billions in returned tax money and use it to innovate and grow the economy — except that never happens. And why would they? They don’t have to earn revenue the old-fashioned way, through free market competition — they can just sit back on their laurels, buy a Senator or two, and rake in a huge windfall every few years that a GOP officeholder is in the White House. It is rock solid orthodoxy for the right-wing now, that tax cuts are almost the only policy initiative they care about — along with a side of deregulation and the slashing of the social safety net.

We’ve seen this movie before. The rich guys take the money and run — in many ways literally, into the arms of tax-free havens like the Cayman Islands or Seychelles. They do not return it to the American economy — although they do inject it into American politics, to skew the playing field even further in their favor despite already extracting extraordinary privileges and benefits to themselves from all aspects of their coziness with the political elite and their direct capture of various institutions.

As LBJ once said:

“If you can convince the lowest white man he’s better than the best colored man, he won’t notice you’re picking his pocket. Hell, give him somebody to look down on, and he’ll empty his pockets for you.”

President Lyndon Baines Johnson, 1960

The economic elites are dividing us over race and religion, in order to pick our pockets. This is why we can’t have nice things. We should boot them out and have nice things.

Related Reading:

Trickle Down Economics
Dark money
The GOP is 3 Cults in a Trenchcoat
Property vs. People, all the way down
Oligarchy and the Creep of Fascism
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Inequality is the difference in measures of economic well-being between individuals in a group, among groups in a population, or among countries. Also known as economic inequality; inclusive of both income inequality and wealth inequality.

In the United States, the data broadly shows shared economic growth and prosperity in the post-WWII period until the 1970s, when things begin to take a turn: economic growth slowed and income inequality began to increase. For the past 40-50 years, income growth for lower and middle class Americans has stagnated while income growth at the top of the distribution remained growing strongly. Meanwhile as wages have stagnated, costs have risen dramatically, especially in key universal areas like housing, utilities, health care, and education.

Inequality illustrated

Wealth is even more greatly concentrated than income. A recent Oxfam report found that the world’s richest 62 people control as much wealth as the bottom half of the entire population of the planet. In the U.S., the richest 20% of families owned about 89% of the country’s wealth as of 2013 figures.

Those at the top of the wealth distribution who benefit financially from the growing inequality find numerous ways to justify the architecture of the system, and retain much of the power and control over its design. Yet an overwhelming majority of the available historical and present-day data indicates that stark income inequality has wide-ranging negative effects on societies as a whole, from exacerbating social ills to deleterious effects on basic human needs.

Related effects

Further resources

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The Richest People in the World

The vast majority of billionaires in the world got richer during the year of the pandemic — fantastically richer. And they still demand more!

Inequality grows and grows, warping both capitalism and government, and yet still the plutocrats press their advantage further while whining about their invented delusional oppression.

Certainly not all rich people are gigantic assholes, but a depressing many of them are. We can hang onto the good ones while tossing the others out of the Titanic lifeboats where their rugged masculinity can carry them to shore.

see also:

NameNet WorthWealth SourceIndustry

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Much has been said regarding the so-called laziness of the poor. Hands have been wrung, glasses have been drained, Davos hotel rooms have been trashed year after year in elite consternation over The Perennially Perplexing Plight of the Poor.

Meanwhile in the American political landscape, the answer is already clear:

THEY’RE NOT WORKING HARD ENOUGH!!!!

But perhaps there’s some confusion over what is meant by the term “hard work” — certainly it’s ambiguous, and no one takes a pause in the middle of a vigorous, breathy debate to define their terms, curiously. So, for the barely literate cretins out there who can barely manage to hold down a job much less participate in the ever-prosperous U.S. economy — a visual guide:

Working hard vs. hardly working: An Illustrated Guide to Hard Work

Working hard

(direct link: https://tpc.quip.com/00POAlXJ6I8Y)

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