Problems With the American Economy Go Far Deeper Than High Taxes Essay

Excerpt from Essay :

Economic Implications of Tax Cut

With Clinton set to make tax cuts part of her platform for the 2016 election campaign, the implications of a tax cut on the U.S. economy are something to consider (Meckler). However, the fact that the political elite are using "tax cuts" as a stumping platform should indicate exactly how much "impact" that would really have on the economy. Considering the history of the U.S. economy, the system of state-sponsored usury that exists, the tight control of the Fed over interest rates (the control of which effects the economy a great deal more than "tax cuts" -- a point which will be discussed in this paper), the trillions of dollars of debt currently being carried by taxpayers, and the relationship between the financing giants of Wall Street and the political staples of Washington who supposedly represent "Main Street" but in reality represent the vested interests of their financial backers, one can only view the assertion that tax cuts would have any impact on the U.S. economy at this point as absurd. Today's economy is held hostage by the global banking cartels (see Greece, for instance -- which simply offers a microcosmic version of the U.S. economy) and the politicians who serve them. Politicians and their "tax cuts" are ruses for an American public eager for positive change and frustrated by status quo initiatives which do nothing but drag the economy (see the Obama administration as a continuation of the Bush administration, as a continuation of the Clinton administration, and so on) through the gutter. The "deep state" is and has been in control of the economy for years (Scott 2). One could say that 1913 (the year in which the Fed was given its charter) was the turning point when the economy became the plaything of bankers. All that "tax cuts" could possibly do in such a situation is feed the bubble.

Tax cuts are little more than a talking point for pundits and politicians. Everyone likes tax cuts and the American public would love to have to pay less in taxes. But the reality is that the economy today is at best stagnant: it is not growing and many signs indicate that it is actually dying a slow death (Durden). Confidence in the money supply is gone (see the rise of crypto-currency Bitcoin). The money "saved" from tax cuts (the notion of whether it is actually "saved" has to be questioned as the State has now mandated that everyone must purchase health insurance, the price of which is set to rise now that the healthcare cartel is being propped up just like the banking cartel) is not going into the economy. Instead, it is either being hoarded for fear of the bursting of the next bubble (whether it is housing again, stocks, gold, FX, etc.). Because interest rates have been kept low by the Fed, money "saved" from tax cuts would not go into banks. Signs indicate that people are storing up for a foreseeable economic collapse (Orlov) brought about by unsustainable debt and a third world war, which will (once more) shake up territorial lines and acquisitions. These are things that affect the real economy -- as the threat of Grexit has indeed shown.

In the U.S., however, there is more to fear than just Grexit. There are more jobs being created in the service sector than anywhere else (see bartending, waitressing, etc.), which reflects the servile condition of Middle America, itself shrinking and resembling more and more the indentured servant class of olden times (see the college tuition debt burden) (Durden). Consumerism, after having been pumped to the hilt for half a century, is finally consuming itself -- and with consumer markets asphyxiating, big suppliers are in perpetual need of bailouts (see TARP and QE). With the Chinese stock market now being propped up by the Chinese government, one should expect global ramifications. Yet, because the banks apparently have near total control of all economies, it remains to be seen how long their policies will continue to be implemented before all manufacturing comes to a screeching halt and the balance of power is shifted. How long can "extend and pretend" go on? How long can fiat be sustainable?

Without answering those questions, tax cuts are simply a dream for…

Sources Used in Documents:

Works Cited

Durden, Tyler. "All of ZeroHedge." ZeroHedge. 13 July 2015. Web.

Gale, William G., Samwick, Andrew A. "Effects of Income Tax Changes on Economic

Growth." Economic Studies at Brookings. September 2014. Web.

Johnston, David. "Tax Cuts Can Do More Harm Than Good." AlJazeera America. 18

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