>The truth is economic growth hasn’t been occurring in real terms for most people for a long time and the rich have been transferring money from the poor to themselves at a dramatic rate.
The US is setting up to make this worse by cutting services for the average person (like the CFPB and OSHA) and continuing to give tax breaks to the wealthy...again.
This is after the same group of people set off sky-rocketing inflation by injection almost a trillion dollars of new money into the economy by way of the PPP program, of course hurting the average person more than their wealthy financial backers.
Medicaid cuts are going to be the real nightmare fuel. People think Medicaid is for the poor (which some Americans are always happy to screw over) but Medicaid is what makes it possible for many working folks’ parents to afford geriatric care. God knows what happens when the GOP succeeds in slashing it.
A huge percentage of Medicaid goes to nursing homes. Medicare does not fully cover the service. You either pay out of pocket or if you’re destitute (as many elderly people are) you get Medicaid to cover the difference.
Also I want to add to this in case people don’t understand:
End of life care is a giant vacuum cleaner designed to move wealth out of families. It is incredibly depressing. Because Medicare does not fully cover nursing homes, you have basically two choices:
1. Give up a huge percentage of your family’s assets (home, retirement savings etc.) so that it never gets handed down to kids and grandkids.
2. Gift those assets early (at least five years I think) so you are technically broke and then can qualify for Medicaid.
Even if you don’t gift those assets early, many people will still run out of money because they aren’t wealthy. So they’ll also end up on Medicaid.
People have the very dangerous impression that “Medicaid is for the poor and Medicare is for the rich” and oh hell are they about to make a terrible mistake.
The US is setting up to make this worse by cutting services for the average person (like the CFPB and OSHA) and continuing to give tax breaks to the wealthy...again.
This is after the same group of people set off sky-rocketing inflation by injection almost a trillion dollars of new money into the economy by way of the PPP program, of course hurting the average person more than their wealthy financial backers.