Trump started disruption of the supply chains with his tariff festival which started the importing of inflation. Please know that 80% of those tariffs are still in place. Biden is missing an opportunity to remove those as a political win. He is miscalculating that favoring China will cost him the polls. As a matter of fact, the tariffs are indirectly supporting China's zero tolerance Covid lockdown policy.
70% of our economy is driven by consumption with that consumption largely driven by the middle and lower class population. Democrats recognize that you have to keep money flowing into the pockets of these classes to keep consumption from drying up. If the upper class is not putting cash flow in the pockets of these class then who else is to do it? They see the government as filling that role. Hard to disagree with that approach. If you took away Social Security benefits from the economy, you would likely remove 2-3x from GDP.
So how is deliberately foregoing revenue any different from deficit spending? It's spending in either case. If you did your research, you would find the national debt has grown more under Republican administrations than Democratic administrations. Oh btw, deficit spending is a component of inflation in that you have to enlarge the money supply to cover your deficit spending.
I too feel politically homeless. There is a middle ground for government to work to promote decent society and fair chance for better opportunity. But the reality is our political regime has been infiltrated by criminals, opportunists, power grabbers, and lunatics. Obstruction where nothing works except for those so well off they don't need government is the political strategy of today.
70% of our economy is driven by consumption with that consumption largely driven by the middle and lower class population. Democrats recognize that you have to keep money flowing into the pockets of these classes to keep consumption from drying up. If the upper class is not putting cash flow in the pockets of these class then who else is to do it? They see the government as filling that role. Hard to disagree with that approach. If you took away Social Security benefits from the economy, you would likely remove 2-3x from GDP.
So how is deliberately foregoing revenue any different from deficit spending? It's spending in either case. If you did your research, you would find the national debt has grown more under Republican administrations than Democratic administrations. Oh btw, deficit spending is a component of inflation in that you have to enlarge the money supply to cover your deficit spending.
I too feel politically homeless. There is a middle ground for government to work to promote decent society and fair chance for better opportunity. But the reality is our political regime has been infiltrated by criminals, opportunists, power grabbers, and lunatics. Obstruction where nothing works except for those so well off they don't need government is the political strategy of today.