(ThyBlackMan.com) As we speed toward November, former president Trump appears to have no problems in speaking and carrying his political message of racism, hatred and division to voters. With President Biden withdrawing from the presidential race, Vice President Kamala Harris must now tackle issues related to economic immigrants, and the implications of Biden’s economic policy of undercounting our national unemployment rates, which leads to underreporting the layoffs of American workers.
The actions of the Congressional Black Caucus (CBC) chaired by Representative Steven Horsford of Nevada, is something you don’t see every day and is an example of what the Democratic Party is doing to our nation on a wider scale; a caucus actively working against the best interest of its African American constituency, just as the Democratic Party is actively working against the best interest of the constituency of America’s estimated 168,000,000-person labor force.
Let’s look at this pragmatically, dealing factually with this phenomenon, so as not to offend the CBC distinctly, throwing them under the bus, by first establishing, it’s the Biden administration, that is undercounting the unemployment rates of American workers leading to undercounting the layoffs of those said workers. However, the CBC’s silence, when it comes to this vile policy is indicative of its support.
Additionally, Democrats and the CBC must wake up to the fact, former president Trump has two times, in 2016, when he came down the escalator, in New York city, and now here, in 2024 in Milwaukee at the Republican National Convention, identified economic immigration as a sore spot, in our national body of politics, saying economic immigration, as it is currently being rolled out is a major grievance of American workers, regardless of what elitist Democrat politicians think. Vice President Harris will be wise, not to turn her back on working-class Americans; and not forthrightly address what American labor sees as a legitimate grievance.
President Joe Biden in undercounting the unemployment rates of American workers, which by the way, he has never denied, is oppressing all American workers, including Black Americans. In actuality, what he is saying to America, there is no problem with economic immigration, because our unemployment rate for June is 4.1%. He knowingly gives the impression to the American voters the category rate of U-3 from the Chart of Alternative Measures of Labor Underutilization is the most comprehensive rate of our unemployment situation, when it is not.
Biden’s actions are leading to the destruction of capitalism, as we know it, which economically underpins our Democracy, because he intentionally distorts the Real state of the United States economy, in his attempt to facilitate economic immigration. Also, when you honestly look at this issue, and understand billionaires, millionaires, and corporations support both political parties with huge amounts of money and influence; it is notable any corrective action, will be challenging, without the admission from Democrats, that unemployment rates are being undercounted. Nonetheless, it must be recognized that those who gain from this detrimental policy should consider the implications. The actions of Democrats are not conducive to the well-being of our democracy in the long-term.
What the Democratic Party did in 1994, when they tampered with our unemployment rates hurts, all American workers, professional, blue collar, union, and working-class Americans, everywhere. When President Biden falsely promoted U-3, as being comprehensive of our unemployment situation saying, “And [un]employment has been the lowest – been below 4 percent for the longest stretch in 50 years,” he distorted the state of our economy and turned capitalism on its head.
If the Biden administration embraced the real unemployment rate endorsed by economists; the most comprehensive rate of Joblessness at 7.4%, the U-6 category rate for June, with a black rate of 10.1%, they and any reasonable person would easily conclude the major political parties should be advancing economic plans to grow the Real economy. Instead, voters are fooled by Biden and Democrats into thinking we have an economy that is at, or near full employment, when disgruntled voters and American workers are experiencing in real-time, the effects of a 7.4% unemployment rate economy. Black Americans, whose unemployment rate average 2.7% higher over the Real rate, at a Great Recession rate of 10.1%, are being buffeted by layoffs. This is happening, as millions of economic immigrants cross our borders, hungry for Jobs, with many working for lower wages, undercutting the wages of American workers.
Here is a simple way to visualize, or look at what Mr. Biden, Democrats and indeed the CBC are doing to us. If you low-ball, or undercount laid-off workers, with a job rate lower (Biden’s June political rate of 4.1%) than the REAL rate for June (7.4%), President Biden willfully counts only 55% of unemployed, and laid-off working-class Americans, leaving 45% of American workers, including African Americans literally uncounted, and unseen by Congressional policy makers, who use the administration’s numbers to construct legislation to help unemployed Americans. For more details, and “factual evidence” Biden and Democrats are doing this, undercounting our Job rates, go now to the article at the link:
To handily win this election, Vice President Kamala Harris ought to pivot, and unrig our unemployment rates. This will unleash and free our economic/capitalist system, which will surely guide us to the solution of growing our economy, with a Consumer Tax Cut. Our recovery from Covid 19 showed policy makers, at the federal level how to create millions of Jobs, on a long-term basis, through consumer spending. A Consumer Tax Cut, which will lead to Consumer Spending, is clearly the answer, when it comes to long-term Job creation. Baby Boomers are the most suitable group for a Tax Cut. Baby Boomers should be acceptable to all parties, including the GOP. Let us look at the reasons why, this is a smart move for our economy, Democrats, and the CBC. Moreover, of this, we all can be confident, going forward, a trustworthy, predictable or reliable growing economy will reduce fear, anxiety, divisiveness and racial friction in America.
1) A 10%, $25,000 Baby Boomer Consumer Tax Cut will be deficit neutral, and flexible. The Covid 19 recovery demonstrated, when you give a direct tax cut to consumers, who make up approximately 70% of your economic activity, you will create Jobs, Growth, and surplus revenues, making the tax cut deficit neutral.
Don’t take my word for this, let’s look at the numbers. The Treasury Department reported, the U.S. government posted a $119 billion budget surplus in January 2022. It was the first, in more than two years, due to strong growth in tax receipts due to consumer spending, resulting from consumer tax cuts, as the pandemic declined.
2) The age group, beginning at 55 plus years, are currently responsible for approximately 40% of consumer spending in our economy. Baby Boomers are the largest homogeneous population, within that group of consumers. Consumption DATA shows, low-and middle-income Americans are more likely than wealthy earners to spend benefits, from the government immediately, and stimulate economic growth, creating millions of JOBS. Retirees are a major voting bloc nationally, and many are experiencing financial stress. Most retirees are not a part of the work force. Trump will not tell Baby-Boomers they shouldn’t get a Tax Cut – see how fast his popularity with that voting bloc sinks, if he does so, and how fast Vice President Harris’ popularity, among Baby-Boomers will soar.
Finally, we are wary and tired of hearing lies about our Unemployment Rates, from Democrats. Mr. Biden’s unemployment numbers simply don’t add up when fact checked. However, the numbers to pass the first “named” direct Consumer Tax Cut legislation in the history of this nation do add up. Not too long ago, in the House of Representatives, four Republicans joined all House Democrats, in voting against what would have been the first impeachment of a cabinet official in nearly 150 years. The final vote was 216 against the impeachment versus 214 for it. These numbers are encouraging and will enable the passage of the first “named” Direct Consumer Tax Cut legislation. And a Democratic majority in the Senate is helpful in securing passage of this legislation in that chamber, also. Thus, a 10%, $25,000 Baby Boomer Consumer Tax Cut is doable.
Staff Writer; James Davis
Question? Comment? One may use this email address; MrDavis@ThyBlackMan.com.