The labor vs capital supercycle shifted. The 70s and early 80s saw new global competition and labor became too bloated after decades. We paved the way to over correct under Reagan plus we won the Cold War. Winning the Cold War gave neoliberal economic policies the credibility on both sides of the aisle, hence the shift under Bill Clinton. Phrase it as investing in America and against China. Challenge Republicans on what socialism is, what about roads? Police? Teachers? Utilities?
Step 1 and 2 "helps" you qualify for higher tax bracket too, but all this is by design to keep money moving/velocity, and the goals are not new. Fed is openly obsessed with creating higher inflation. Just gotta adapt and try to stay ahead of the curve.
Just a reference for those who don't believe in increasing the sovereign debt to invest in the actual people of the country. "United States Gross Federal Debt to GDP | 1940-2020 Data | 2021-2023 Forecast" https://tradingeconomics.com/united-states/government-debt-to-gdp I'm sure most here have a basic idea of the era in this country that had the most growth in the middle class.
The era that had the most growth in the middle class are the years after WWII because we were the last man standing. Europe and Japan had to rebuild. We were the country producing and selling the products to rebuild
You should tax capital gains just like any other income. Flax tax for the win. Apply social security/aka payroll to it also.
And I'm glad Biden isn't because it honestly isn't a represenation of how well the average American is doing.
Hmm, didn't know it was the CDC blocking evictions National Eviction Moratorium Thrown Out by Federal Judge WASHINGTON—A federal judge threw out a national eviction moratorium Wednesday after concluding it was legally unsupportable, upending a Covid-19 relief measure that has protected millions of tenants but created hardships for landlords. The Centers for Disease Control and Prevention, citing public health grounds, had extended the moratorium through June for tenants who have fallen behind on their rent during the pandemic. But a series of conflicting lower-court rulings had previously called into question the measure’s legality, and Wednesday’s decision is perhaps the biggest blow to Washington’s efforts to provide eviction protections. The moratorium originated from an executive order signed by then-President Donald Trump in September. Judge Dabney Friedrich of the U.S. District Court for the District of Columbia said that while it was the role of the political branches of government to address the pandemic, current federal law on public health didn’t give the CDC broad authority to impose the moratorium. “Because the plain language of the Public Health Service Act unambiguously forecloses the nationwide eviction moratorium, the court must set aside the CDC order,” Judge Friedrich wrote. The judge, a Trump appointee, set aside the moratorium on a nationwide basis, rejecting a Justice Department request that any adverse ruling apply only to the housing providers and Realtors associations who brought the case. The ruling could make it easier for landlords to evict tenants who are in arrears. It is also a setback to Biden administration efforts to synchronize the moratorium’s planned expiration at the end of June with the distribution of nearly $50 billion in rental assistance authorized by Congress. The ruling also may embolden more state and local court systems to stop enforcing the eviction moratorium. Last month, the Texas Court System decided not to extend its enforcement of the CDC moratorium in its eviction courts. Evictions resumed in some parts of the state as a result. The Justice Department appealed Wednesday’s ruling hours after it was released to the U.S. Court of Appeals for the District of Columbia Circuit. The department also said it intended to seek an emergency stay of the ruling, which, if granted, would keep the moratorium in place for now. “Scientific evidence shows that evictions exacerbate the spread of Covid-19, which has already killed more than half a million Americans, and the harm to the public that would result from unchecked evictions cannot be undone,” said Brian Boynton, the acting head of the Justice Department’s civil division. An analysis by the Urban Institute, a Washington think tank, found that the amount of unpaid rent could exceed $52 billion. According to a Census Bureau survey conducted last month, about one in seven renters are now behind on their payments—roughly three times the typical rate. The moratorium protects tenants who have missed monthly rent payments from being forced out of their homes if they declare financial hardship. Though originally set to expire Dec. 31, Congress extended the moratorium until late January, and the CDC twice extended the order itself, through June. Landlords say they have been unfairly squeezed financially by the moratorium, forced to provide free services to nonpaying tenants. Stacey Johnson-Cosby, a landlord in Kansas City, Mo., who along with her husband, manages 21 rental units, welcomed Wednesday’s ruling. While the moratorium has made it harder to get tenants to pay back rent, she said, it is now no longer needed because of the billions of dollars in available rental assistance. “That is the right move at this time,” she said, of the ruling. Some bankruptcy experts warned an abrupt end to the eviction moratorium could lead to a jump in bankruptcy filings, which have been kept in check by various federal policies during the pandemic, such as deferral programs on student loans and mortgages. “If all the sudden, tenants have to pay all their back rent—six, eight, or 10 months at once—you could see a dramatic increase in consumer bankruptcy filings nationwide,” said Jonathan Carson, the CEO of Stretto, a technology provider to the bankruptcy system. Judge Friedrich said the CDC’s powers under public-health law to prevent the spread of disease aren’t limitless. Instead, the CDC’s efforts must focus on specific sources of infection when it determines that measures taken by state and local health authorities are insufficient, she said. The moratorium exceeded those boundaries, the judge said. A handful of other courts have reached similar conclusions, though other judges have disagreed, finding that Congress gave the CDC broad flexibility to combat disease as it saw fit. Ethan Blevins, an attorney for plaintiffs in related cases, said that courts were increasingly less willing to defer to the government because they are seeing the harm to landlords, particularly smaller property owners, who face “foreclosure or other severe costs because they have been unable to survive as a business during the pandemic.” He said the effects could be most pronounced in states such as Texas and Florida, which don’t have their own statewide eviction moratoriums. Diane Yentel, president and chief executive officer of the National Low Income Housing Coalition, said the Biden administration should continue to defend and enforce the eviction ban, “at least until emergency rental assistance provided by Congress reaches the renters who need it to remain stably housed.” Landlord lobbying and trade groups welcomed Wednesday’s ruling. But Paula Cino, a vice president at the National Multifamily Housing Council, said until the appeal was resolved the group wouldn’t advise its members to do anything that would violate the CDC order. “As of today this doesn’t change anything operationally for our members or our industry,” she said.
trump appointed. That was all that was needed. Though I wonder how many rental units the judge owns...
I think most non Trump appointed judges would rule the same way. Protecting an owners property rights is a pretty big deal in this country. It would be a different story if landlords were being compensated for letting people stay.
Great post with that data; we agree on this particular problem. I've always thought the effective end of the red scare + winning the Moon race changed the game and power brokers saw (maybe even unconsciously) that they could get back to pillaging the bottom 90% of earners, just like in the pre-WW2 days.
