Biden’s Challenge – The Distribution of Income

Biden’s Challenge – The Distribution of Income

January 30, 2021 – Ted Folkert

A return to civility – a return to normalcy – a return to a government of, by, and for the people – this is the early indication of the role of the Joseph R. Biden administration. He must surely be the right one for the job along with Kamala Harris who, like Biden, has an impeccable political career of integrity and dedication of duty.

A big, perhaps the biggest, challenge for repairing the damage left by the bungling of the oval office over last four years, is addressing the distribution of income. Such an endeavor could never have occurred under the idiotic tyrant we just escaped from.

Distribution of Income, that economic category which everyone competes for in some way – seems much more important for a healthy economy than is acknowledged by those who make the rules that we live by in the financial world. It seems to be exemplified by painful reality in times like this. Now that the entire planet is forced to deal with this devastating disease – which is beginning to cripple economies in the financially healthy countries as well as those which are struggling for economic survival for their populous – the economic trends are beginning to show distress, even in the financially healthy countries, such as ours.

Current trends are proving to become increasingly more unfavorable for the working-class as opposed to the leisure-class who survive on inherited wealth, investments, or fixed income. And what are the chances that this apparent trend will convince the rich and powerful who control our government to take the right steps to allow the working-class to prosper somewhat from the increasing stress on livelihoods for the lower and middle income segments of society?

It is no secret that putting more income into the pockets of the workers has a positive effect of the economy for everyone. That is Economics 101. It doesn’t take a financial wizard to figure that one out and it doesn’t take a genius to propose methods to create such a positive action. What it takes is convincing those who control government to follow the textbook processes for instilling such measures while continuing to placate the rich and powerful of the necessity – those who are capable of controlling campaign funding due to our campaign funding laws. Those in power very cleverly convinced the voters to support their control of the purse strings decades ago and have successfully maintained such measures through the campaign funding which they enabled.

Changing the system to be more favorable for the working-class can be considered to be like a team of local players taking on a professional sports team. What are their chances of victory?

The only obvious way of changing the distribution of income for the better would have to be through taxation. Unless the working-class have more income and a larger share of it available for discretionary spending there can be no increased demand for nonessential goods and services. The only way to achieve such a condition would require the wealthy to pay a larger share of the services provided by government, such as healthcare, education, transportation, communication, diplomacy, defense, welfare, and all the other services provided by government.

How do people become wealthy? Well, as they say in jest, the easiest way would be careful selection of the proper parents, but of course we don’t get any choice there. Methods beyond that would require participation successfully in some endeavor which can command a more exorbitant profit margin than an ordinary source of employment income, such as wages, salary, or profits from a small business or fee based representation. And, unfortunately, we don’t get much opportunity there. The methods are unlimited but the chance of inordinate success is very unlikely.

If this analysis of the situation is correct as implied then the only method of altering the distribution to level the playing field and improve the economy for everyone will be to enable legislation of a more favorable system of taxation. Of course, this brings the rich and powerful, those who control the electoral process, out in mass with enormous funding of political organizations constructed to placate any effort by those who endeavor to improve the system. So what we have is a system designed by the creators of such which, instead of robbing the rich to pay the poor, as they imply, robs the poor to pay the rich. It is also designed to enable the rich and powerful to retain an inordinate portion of the income they realize for their favorable situations, which robs the government of the funds necessary to provide a more stable economy for all of the more than 300 million of us in this country.

This situation can only be changed at the ballot box by voters who refuse to be influenced by the diversionary tactics of the rich and powerful in their quest to maintain their “absolute control of every living soul,” as Leonard Cohen sang to us. He also sang to us in his song: “The Anthem” that “There is a crack in everything, that’s how the light gets in.” We need to let the light in and see the future impact of the oppressive distribution of income and take the steps necessary to elect those who will help us let the light in.

Early indications are that President Joe Biden is the one to lead that charge. He is already “letting the light in.” He is doing everything in plain sight and with unquestionable integrity and foresight for the benefit of us all. We need to do our part and elect government representatives who will help him with repairing the abusive damage done by the previous abusive administration of the last four years.

Leonard Cohen also sang to us: “Democracy is Coming to the USA.” With the Biden-Harris administration it looks like Cohen’s prediction may now be possible.

Think about it!

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