Trump’s tax cuts near peak of the industrial cycle may precipitate, not head off, a new overproduction crisis
NOVANEWS
By Jon Britton
Biggest-ever point drop for Dow Industrials, nearly 1,200 points, occurred Monday, Feb. 5.
The timing of Trump’s tax cuts favoring U.S.-based corporations and the very rich is not aimed at heading off a new overproduction crisis, though it may precipitate such a crisis.
Rather, the timing aims to head off a comeback by the Democratic Party in this year’s mid-term elections. Such an outcome is especially likely this year as a result of Trump’s xenophobic, anti-woman, racist, anti-immigrant, climate change-denying, homophobic, trans-phobic, and all-around reactionary policy initiatives—not to speak of his escalating threats of war, including nuclear war.
While there are growing signs of disquiet and disillusionment within the Democratic Party base, the most ...