Republican finances

The Hartmann Report - There’s a reason everything is getting so expensive and inflation seems intractable, and it goes way beyond just Trump’s stupid war-of-choice in Iran. It explains why the morbidly rich keep getting richer while the rest of America struggles, and why people are paying absurd interest rates on everything from credit cards to home mortgages to car loans, and it all rolls back to a wild conspiracy Republicans hatched in the late 1970s and Reagan put into place in 1981.

It starts with — thanks to three mind-bogglingly corrupt and illegitimate Republican presidents (Reagan, W. Bush, and Trump) — our national debt rolling past $40 trillion in the next few days, probably before Labor Day. That’s more than our entire nation’s total Gross Domestic Product (GDP) — the sum of all goods and services produced in the last year, which came in just a whisker over $32 trillion.

And we’re paying over a trillion dollars a year on that debt that was intentionally run up by those 3 Republican presidents and their buddies in Congress, which is a large part of why we’re the only developed country in the world where families can go bankrupt because somebody got sick and kids graduate from college with debt that will take them decades (if ever) to pay off.

As if to shove it in our faces, last week Trump proposed a new cut in the capital gains tax that is pretty much exclusively paid by rich people … To add insult to injury he just raised taxes on working class people’s wages by an average of $900 this year via the GOP’s Big Beautiful Bill that passed without a single Democratic vote.