Wisconsin is bigger than Trump. A tax scheme that hurts the poor. Why are oil prices rising?
Trump shouldn't be the story. The Wisconsin Supreme Court is what matters. Property taxes hurt most Americans. Oil prices are rising because of supply manipulation. But it will speed up green energy.
Wisconsin is bigger than Trump.
Last night as I listened to the cable news networks, I was bewildered. It is not like I did not know that these networks would hyperventilate on Donald Trump. But I hoped we would not repeat history. Unfortunately, the story should not have been centralized on Trump being arraigned but on the fever of fascism starting to break.
Wisconsin is a 50/50 state with a slight Progressive aggregate bias. Their Supreme Court had a one-vote Right Wing majority. It allowed the legislature to undemocratically gerrymander districts.
The election of Liberal Janet Protasiewicz ensures that Wisconsin’s Supreme Court will be controlled by Progressives. This makes it possible for the court to repair many of the previous unconstitutional rulings by Wisconsin’s Supreme Court.
Many would ask, why does a Supreme Court seat in Wisconsin matter to the rest of America? It matters. Wisconsin is a near 50/50 state with a democratic lean. After all, its Governor, Secretary of State, Lt. Governor, one of its Senators, and Attorney General are all Democrats.
Ironically, its State Legislature and Senate do not look anything like the population politically. Ironically, its State Assembly currently comprises 64 Republicans and 35 Democrats. Its State Senate comprises 21 Republicans and 11 Democrats. Its U.S. Senate comprises one Democrat and one Republican. Its U.S. House of Representatives comprises 6 Republicans and 2 Democrats.
The above is a travesty that is sanctioned by Wisconsin’s Supreme Court. Wisconsin is antidemocratically gerrymandered. Progressives taking charge of Wisconsin’s Supreme Court will allow for the mitigation of this unfairness. Additionally, it will prevent the State Legislature from taking control of women’s bodies.
The margin of victory in the election should scare the Right Wing MAGA Republican Party. After record spending, the election was not even close, especially in a 50/50 state. The Republicans want to run culture wars. Unfortunately for them, the culture that America wants is moving more and more toward Progressives.
A tax scheme that hurts the poor.
As I drove into KPFT a few mornings, I saw a beautiful three-story building on a lot in the hood. Somebody with capital made a wise decision. They probably bought that land that is pretty close to the center of Houston for cheap and build an expensive, beautiful abode.
That one act has likely increased the value of the entire area. This means the homes (more like the land) in the area will appreciate a lot. This will force many to sell their homes at less than market value because they cannot afford the new taxes.
But that is not all. Let’s say a person doesn’t have a lot of money but is good with their hands and can build. They may have friends who they’ve worked for who donated wood, cement, piping, and other construction material as they worked on various jobs for them. If they use their building ability to create a big nice home, they are likely to be unable to live there because they cannot pay the taxes on what they billed.
The owner of stocks does not pay taxes on their assets or stocks until their gains or losses are realized. Our financial system is designed to keep most of the poor, poor, and most of the rich, rich. And, of course, it keeps the middle-class treading water.
Our tax system can only be fair if it is progressive in nature. Otherwise, there is little room for the growth of the masses, and that is what we can see with our eyes.
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Why are oil prices rising?
I am tired of politicians and economists acting as if our Capitalist system is functioning as they define it. Many economists define Capitalism as the efficient allocation of resources. What does that even mean? Profit maximization? Health maximization? Happiness maximization? The ability to purchase by choice what is available for purchase? Because one says, something does not make it true. The best truth is what you are living, what you are seeing. The results of however you want to define our economic system are income inequality, wealth disparity, 80% of Americans being a paycheck away from financial dire straits, and healthcare insecurity that puts all of your meager gains at risk and bankruptcy.
I preface the current creep in oil prices with the former statement. There are, in fact, market mechanisms causing the rise in oil prices and the ability of the titans of finance to choose to keep available crude off the market.
Vox reported the following.
So why this, why now? As the Guardian explains, this is a preemptive move from OPEC+ ahead of an economic slowdown and potential recession. It’s also an attempt by the cartel to sort of put a floor on oil prices, and a signal it likes that $80 number.
Stewart Glickman, deputy director of equity research at CFRA Research, says that OPEC+ is trying to proactively refigure some supply-demand math because they’re concerned about what’s going to happen on the demand side. He believes there are two main issues at play.
One, there has been a lot of market anticipation around China’s reopening after harsh shutdowns due to the pandemic were ended in late 2022 and what that might mean for the global economy, but it is starting to look like it may not be as much of a game changer as anticipated. “Going into this year, everybody was talking about how this is the year of the China reopening trade that probably is inflationary and should spur a lot of demand for more commodities, including crude, and that should put some wind in the sails of crude oil,” Glickman said. “What’s happened so far is kind of underwhelming.”
Two, concerns around a potential banking crisis springing from the collapse of Silicon Valley Bank and troubles with banks in the US and Europe may explain some of OPEC+’s thinking as well. Oil prices cratered during the 2008-2009 crisis, and that memory could have producers on edge. “If this regional banking situation doesn’t unravel further and demand comes back, then the worst-case scenario is oil goes to $100 a barrel or more with these supply cuts,” Glickman said. “I think they figure if they’re going to err on one side or the other, they’d rather err on prices moving up a lot higher.”
Note there was nothing in the statements about supply and demand. It is all about what they want the price to be for a resource that we are currently dependent on. Some would say this is not a free market-based system or Capitalism. I beg to differ. This is exactly the system. Unless we choose to see things as they are and adjust our economy to serve us all as opposed to the few, they will continue to jack us around and keep us on the steady path to indentured servitude.
These subjects are the topics of discussion today on Politics Done Right on KPFT 90.1 FM Houston today at Noon Central Time (1 PM Eastern/10 AM Pacific/11 AM Mountain). You can listen to it on air at 90.1 FM in the Houston metropolitan area or at politicsdoneright.tv.
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