Trump’s Federal Reserve Pick Said The Working Poor Aren’t Taxed Enough

With automation, the end game of capitalism makes labor obsolete and an unnecessary burden on the wealthy. Class warfare is the inevitable conclusion. The rich are at war on the poor.

The end game of capitalism will eventually be a purge of the poor and working class is what I’m saying.

Just look at the frightening rise of epidemics like measles, syphilis, etc. This is only going to get worse as we continue to punch holes in necessary data (e.g. the census) and remove community health initiatives, and implode Medicare and Medicaid—look what happened at the VA.

The wealthy can pay for what ails them. The rest of us are in a mosaic epidemiological ‘gas chamber.’

Another day, another disqualifying set of realizations about Stephen Moore, President Donald Trump’s pick for a seat on the Federal Reserve’s Board of Governors.

Read the latest set of offensive comments by Moore, which he made at a 2012 fundraising dinner for the Citizens’ Council for Health Freedom, a C-SPAN appearance and a 2013 appearance at FreedomFest, a libertarian conference. 

(A rundown of some of Moore’s other greatest hits include him effectively defending everything that contributes to sexual assault on college campuses, calling female referees “an obscenity” and taunting his ex-wife while cheating on her.)

Among the more questionable ideas Moore espoused in the comments Mother Jones flagged concern income inequality, and suggest he either doesn’t understand economic fundamentals (which is possible) or ― arguably worse ― he does, but intentionally misleads audiences for the sake of applause.

At his CCHF speech, for instance, Moore drew plenty of applause with a diatribe against the working poor, whom he attacked for not having to pay income tax. He told the audience that’s equivalent to half of the event’s attendees only covering 2 percent of their food costs, while the other half were forced to pick up the extra burden.

At the time of Moore’s speech in 2012, people excused from paying federal income tax would have had precious little income to begin with. Per Mother Jones’ research, a single filer making less than $5,950, a single parent making less than $8,700, and a married household earning less than $11,900 all qualified for exemption.

And yet those people still paid taxes — payroll taxessales taxes and gas taxes, which actually hit the working poor harder, as they have to devote more of their income to pay for them.

If Moore were serious about asking people who are capable of paying federal income taxes to actually do so, he’d be better advised to start on the other end of the income spectrum. Gary Burtless, a senior fellow at the Brookings Institution, told MarketWatch a few of the craftiest high-income earners “have adopted tax strategies that occasionally eliminate their federal income tax liability.”

While Moore spent much of the time in these public appearances understating poverty and inequality, he did briefly acknowledge in a 2013 C-SPAN interview that income inequality presents a problem.

“Even in the Gilded Age, we didn’t have so much wealth concentrated in so few people,” he said. Instead of any sort of income distribution, however, Moore said the solution is less envy and more billionaires who create companies that in turn create millionaires.

“What we need in this country is more Bill Gates, and more Warren Buffets, and more people like Steve Jobs,” he said. 

One thought on “Trump’s Federal Reserve Pick Said The Working Poor Aren’t Taxed Enough”

  1. I’m not any sort of financial expert, but it seems to me that Republican policies don’t help you until you’ve got a net worth of about ten million or so. Why anybody poorer than that votes Republican doesn’t make sense to me.

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