President Joe Biden has endorsed a ban on congressional stock trading in an interview that’s being released this week. It's the first time he's publicly backed the idea.
Right when he’s completely useless, he pushes for this. Pathetic and disingenuous.
Why do people keep using “populist” like it’s a negative?
because it’s virtually always tied to policies that are meant to be easily digestible for the lowest common denominator. as it turns out, however, that complex problems virtually never have simple solutions.
ie Trump and his border wall in 2016. Populist with a populist platform to stop illegal immigration. What does it actually accomplish? Nothing because
a) it’s impractical to actually build a wall across the entire length of the border
b) majority of illegal immigrants come legally on tourist visas and then overstay
but why focus on “The Wall”? Because Trump understands that it’s an easily understandable symbol he can point to.
Left wing populism is similar. For example “tax the rich!” is a common mantra. And sure, taxing the rich is good. But what use is there in increasing tax revenue by a fraction of a percent when we are bleeding money at the seams to corruption? It’s not going to solve our deficit. It’s not going to lower taxes for the average American. Look at how the military will spend $100k on a bag of metal bushings that me and you can buy on Amazon for $100.
But how are you going to tackle the problem of deeply ingrained corruption? It permeates from our local institutions all the way to the upper echelons. Look how Haliburton got billions of dollars worth of “no-bid” contracts during the Bush administration. Just happens that Cheney, the most powerful VP in history, used to work there.
There is no easy solution. So populists come and say “tax the rich” or “build a wall” when in reality it does absolutely nothing to fix the actual problems. But the real solutions are complex and hard to relay to voters. and in fact, the solutions are painful and no politician would ever campaign on painful policies. For these reasons I think we are doomed as a society and that technocratic countries like China are going to dominate us in the next century unless we can radically change course
because it’s virtually always tied to policies that are meant to be easily digestible for the lowest common denominator. as it turns out, however, that complex problems virtually never have simple solutions.
ie Trump and his border wall in 2016. Populist with a populist platform to stop illegal immigration. What does it actually accomplish? Nothing because
a) it’s impractical to actually build a wall across the entire length of the border
b) majority of illegal immigrants come legally on tourist visas and then overstay
but why focus on “The Wall”? Because Trump understands that it’s an easily understandable symbol he can point to.
Left wing populism is similar. For example “tax the rich!” is a common mantra. And sure, taxing the rich is good. But what use is there in increasing tax revenue by a fraction of a percent when we are bleeding money at the seams to corruption? It’s not going to solve our deficit. It’s not going to lower taxes for the average American. Look at how the military will spend $100k on a bag of metal bushings that me and you can buy on Amazon for $100.
But how are you going to tackle the problem of deeply ingrained corruption? It permeates from our local institutions all the way to the upper echelons. Look how Haliburton got billions of dollars worth of “no-bid” contracts during the Bush administration. Just happens that Cheney, the most powerful VP in history, used to work there.
There is no easy solution. So populists come and say “tax the rich” or “build a wall” when in reality it does absolutely nothing to fix the actual problems. But the real solutions are complex and hard to relay to voters. and in fact, the solutions are painful and no politician would ever campaign on painful policies. For these reasons I think we are doomed as a society and that technocratic countries like China are going to dominate us in the next century unless we can radically change course