JP'S Dystopic Journal: The Politics of Envy

The State of the Union was just full of lies, half-truths and falsifications. It's probably for an honesty standpoint, the worst State of the Union you've ever heard. This includes ones from Bill Clinton and former President Obama. What he and the Democrats have decided to do is find "solutions" to problems that they themselves created, like inflation. Here's one quote from the speech the illustrates the point perfectly: "I mean, look, I know you all aren’t enthusiastic about that, but think about it. Think about it. Have you noticed — Big Oil just reported its profits. Record profits. Last year, they made $200 billion in the midst of a global energy crisis. I think it’s outrageous. Why? They invested too little of that profit to increase domestic production. And when I talked to a couple of them, they say, “We were afraid you were going to shut down all the oil wells and all the oil refineries anyway, so why should we invest in them?” I said, “We’re going to need oil for at least another decade, and that’s going to exceed…” — and beyond that. We’re going to need it. Production. If they had, in fact, invested in the production to keep gas prices down — instead they used the record profits to buy back their own stock, rewarding their CEOs and shareholders. Corporations ought to do the right thing." -- President Biden, SOTU Address, 2023. Do the right thing? You (Mr. President) told them that you'd put them out of business! That's literally one of the stated goals of the Bidan campaign, to put end to the fossil fuel industry. Of course, they're going to take profits rather than sink money into investments in an industry targeted for extinction. Biden actually had nerve to act surprised when severely limiting their oil exploration options that they invested less in that endeavor. Again, and again the President showed what must be either his own economic illiteracy, or his belief in the economic illiteracy of his supporters.
Editorial note: I speculate in the podcast that the top 1-2% of income earners pay 90% of the taxes. That number was a little off, so to set the record straight, here is more solid info on just who pays taxes, that I pulled from www.ntu.org : "The top 10 percent of earners paid 74 percent of all income taxes and the top 25 percent paid 89 percent. Altogether, the top fifty percent of filers earned 89 percent of all income and were responsible for 97.7 percent of all income taxes paid in 2020." Biden suggests the rich don't pay their fair share. --JP Mac