Political insiders like to refer to the Republican Party as the G.O.P., which is supposed to stand for the Grand Old Party. The truth is, though, that under the GOP, things haven't been very grand for most of us.
It's a fact that a few people are doing better economically under Republican policies of trickle down economics, which asserts that everybody does well when the wealthy are allowed to coast along without paying their fair share. The theory is that when the wealthy spend their loads of money, the rest of us get jobs, and though we'll never get rich through our work, at least our ability to work for the wealthy will be secured, and so we'll be able to count on a small but stable income.
The facts, however, don't support the theory of trickle down economics. It turns out that, when the wealthy are given special tax breaks and government subsidies, they don't spend much of that money. Instead, they keep most of the money, and squirrel it away in secret offshore bank accounts so that they sometimes end up paying no tax on their income at all.
Middle class Americans end up paying the bill that the wealthiest elites leave behind.
In the meantime, the wealthy lecture the rest of us about fiscal responsibility. Their own economic perks are left untouched, but the wealthy hire lobbyists to bribe members of Congress to pass legislation that results in the shrinking of school budgets and cuts in community infrastructure. Wealthy Republicans work to reduce the Social Security benefits that we've earned through our labor, and introduce bills to eliminate the Medicare that keeps us alive in the final years of our lives.
While Republican politicians cut programs for pregnant women and children and eliminate low interest loans for university students, the pass new laws allowing the adult children of the rich to inherit multi-million dollar estates without paying any tax on the income at all.
The result of these policies has been a steady increase in income inequality in the United States. While the one percent most wealthy have been getting even more wealthy, the rest of us have been losing income, year after year.
The GOP doesn't seem to care that 99 percent of Americans are being economically crushed by the failure of trickle down economics. The Republicans only care about the wealthy individuals who give them unlimited campaign contributions funneled through the independent expenditures of shadowy super PACs.
The GOP is bought and paid for – and that's anything but grand. GOP has come to stand for Greedy One Percent.
Get into the vortex of the new reality at Irregular Times