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IPFS News Link • Economic Theory

Indentured Taxpayers and the Casino Economy

•, By Donald Jeffries

Karl Marx said at least one valuable thing. Workers of the world do need to unite, and lose their chains. If our brand of chrony capitalism doesn't exploit workers, it certainly doesn't value or respect them. Real pay and benefits for the vast majority of American workers have fallen precipitously over the past several decades.

Please don't misunderstand me. I certainly don't admire Karl Marx, or the system he advocated. He was, like virtually all famous historical figures, promoted by great powers behind the scenes. And Marxism/communism has been tried in a great many places. It obviously doesn't provide a decent life for those living under it. In the case of the Soviets, it created misery for millions of "comrades." And under their system, dissenting voices were sent to Siberia. That's worse than what America 2.0 does to dissenters, like the January 6 political prisoners. But maybe if they open up the FEMA camps, and put all the "deplorables" in them, we'll be worthy competition.

I thought about this subject while watching a Matt Walsh video yesterday. Now I often like Walsh's commentary, and certainly agree with him on the "Woke" madness. But economically, he's like far too many conservatives. Trusts the marketplace. Thinks the very rich "built" and deserved their wealth. Although he's a millennial, he believes the Boomer myth, which they got from their parents, the "greatest generation." That myth is that if you work hard, your efforts will be recognized. Cream will rise to the top. Unfortunately, nothing could be further from the truth. I couldn't find any information about Walsh's background. I would be shocked if he didn't come from at least an upper middle-class family.

Walsh was ridiculing some Gen Z "influencer," who was complaining about the dead end nature and low pay for most jobs in America 2.0. He didn't call it America 2.0, of course, but that's what he was describing. Walsh is only thirty seven, so he must think that his quick climb to prominence in the competitive online world of alternative media is a common phenomenon. It isn't. Maybe he was just lucky, but my hunch is he had some wealth behind him. That's what happens, and has always happened, in other industries, so why not the world of online "influencers?" There once was an author named Horatio Alger, who wrote stories extolling the American Dream. The rags to riches story. But he wrote fiction.