FOX HOST BILL HEMMER: “Did President Trump have anything to do with the cancellation of Stephen Colbert’s show?”
BRENDAN CARR: “I think there are a lot of consequences that are flowing from President Trump deciding, ‘I won’t play by the rules of politicians in the past and let these legacy outfits dictate the narrative and terms of the debate.’ He is succeeding. Look at what is happening. NPR has been defunded, PBS has been defunded, Colbert is getting canceled. You’ve got anchors and news media personalities losing jobs downstream of President trump’s decision to stand up. He stood up for the American people. American people don’t trust the legacy gate keepers anymore.”
BILL HEMMER: “I asked a very direct question. I did not hear a yes or a no in your answer. I heard a maybe. Is The View now in the crosshairs of this administration?”
BRENDAN CARR: “Look, it’s entirely possible that there’s issues over there. I mean, again, stepping back, this broader dynamic, once President Trump has exposed these media gatekeepers and smashed this facade, there’s a lot of consequences. I think the consequences of that aren’t quite finished.”
FOX: Is The View now in the crosshairs of this administration?
FCC CHAIR BRENDAN CARR: It's entirely possible there are issues over there … the consequences aren't quite finished pic.twitter.com/sDZAbtf07I
Trump doesn’t rule out pardon for Epstein co-conspirator Ghislaine MaxwellIt comes as Deputy Attorney General Todd Blanche met with Maxwell – who’s serving 20 years in prison for sex trafficking – for a second time.
Ghislaine Maxwell, who sources told ABC News initiated the meetings with the Department of Justice, answered questions for about nine hours over two days after being granted a limited form of immunity, the sources said.
The immunity allowed Maxwell to freely answer Deputy Attorney General Todd Blanche’s questions without fear that her responses could later be used against her, the sources said.
The so-called proffer immunity is commonly granted to individuals prosecutors are seeking to make cooperators in a criminal case. Maxwell has already been tried, convicted and sentenced for sex trafficking underage girls.
FILE – Audrey Strauss, acting U.S. attorney for the Southern District of New York, points to a photo of Jeffrey Epstein and Ghislaine Maxwell, during a news conference in New York on July 2, 2020.
John Minchillo/AP
DOJ did not immediately respond to request for comment. A lawyer for Maxwell did not immediately respond.
The second meeting between Maxwell and Blanche lasted for about three hours.
Maxwell’s attorney, David Markus, told ABC News afterward, “There have been no asks and no promises.”
Markus said Maxwell was asked about “maybe 100 different people” during her interview with the deputy attorney general. He said she answered every question.
“She didn’t hold anything back,” Markus said.
He declined to be specific about who Maxwell was asked about or whether she provided information about others who might have allegedly committed crimes against victims, as Blanche said he was seeking.
“We haven’t asked for anything. This is not a situation where we are asking for anything in return for testimony or anything like that,” Markus added on Friday. “Of course, everybody knows Ms. Maxwell would welcome any relief.”
Blanche didn’t speak to reporters upon his arrival at the federal courthouse in Tallahassee, Florida. On social media, Blanche said he would reveal what he learned from Maxwell “at the appropriate time.”
FILE – Audrey Strauss, acting U.S. attorney for the Southern District of New York, points to a photo of Jeffrey Epstein and Ghislaine Maxwell, during a news conference in New York on July 2, 2020.
John Minchillo/AP
The first meeting between Maxwell and Blanche on Thursday lasted six hours.
Maxwell is currently appealing her 20-year prison sentence for child sex trafficking and other offenses in connection with Epstein, the deceased financier and convicted sex offender.
“We don’t want to get into the substance of the questions,” Markus had said about Thursday’s meeting. “There were a lot of questions and we went all day and she answered every one of them. She never said ‘I’m not going to answer,’ never declined.”
It is almost unheard of for a convicted sex trafficker to meet with such a high-ranking Justice Department official, especially one who used to be the president’s top criminal defense attorney.
ABC News Chief White House Correspondent Mary Bruce asked President Donald Trump on Friday if clemency is on the table for Maxwell.
“I can’t talk about that now because, you know, it’s a very sensitive interview going on,” Trump responded. He went on to call Blanche a “great attorney” and said “I don’t know exactly what’s happening. But I certainly can’t talk about pardons.”
Trump was also pressed by ABC News’ Bruce if he can trust what Maxwell is telling the DOJ during these interviews.
“Well, he’s a professional lawyer. He’s been through things like this before,” Trump said, referring to Blanche.
After Trump’s comments on Friday about clemency, ABC News asked Maxwell’s attorney whether that gave her an incentive to tell Blanche what he wanted to hear.
“No,” Markus answered. “She wants to tell the truth.”
Markus said Maxwell’s legal team has not approached Trump about a pardon, but suggested it could happen in the future.
“We haven’t spoken to the president or anyone about a pardon just yet. And listen, the president this morning said he had the power to do so we hope he exercises that power in the right and just way,” he said.
Attorney General Pam Bondi and Deputy Attorney General Todd Blanche look on as US President Donald Trump (not on frame) speaks during a news conference in the Brady Briefing Room of the White House on June 27, 2025, in Washington, DC.
Andrew Caballero-reynolds/AFP via Getty Images
Annie Farmer, who testified against Maxwell at trial, questioned why Maxwell was granted a meeting with the deputy attorney general in the first place.
“It’s very disappointing that these things are happening behind closed doors without any input from the people that the government asked to come forward and speak against her in order to put her away,” Farmer said. “There were so many young girls and women that were harmed by her.”
Maxwell’s attorney said on Friday she’s been treated poorly for the last five years and is grateful to be able to meet with Blanche as she appeals her sex trafficking conviction and seeks to leave prison.
“If you looked up scapegoat in the dictionary, her picture would be next to the definition,” Markus said. “She’s keeping her spirits up as best she can.”
Blanche’s meetings with Maxwell comes as the Justice Department has tried to quiet calls from Senate Republicans to release more information about Epstein and his interaction with high-profile figures.
And it comes as questions swirl about Trump’s connections to Epstein and reports that his name appeared in the Epstein files.
The Wall Street Journal reports that Attorney General Pam Bondi told Trump in May that his name was mentioned in the Epstein files multiple times, along with other high-profile people.
Trump has denied that account, and appearing in the files is not necessarily indicative of any wrongdoing.
“I want all the information out,” said Republican Sen. Josh Hawley.
“Just put everything out, make it as transparent as you can,” echoed Republican Sen. Lindsey Graham.
The Justice Department said earlier this month that it planned to release no additional information despite an earlier commitment to do so.
Brendan Carr listens during a Senate Commerce, Science, and Transportation committee hearing to examine the Federal Communications Commission on Capitol Hill in Washington, June 24, 2020. Jonathan Newton/The Washington Post via AP
Brendan Carr listens during a Senate Commerce, Science, and Transportation committee hearing to examine the Federal Communications Commission on Capitol Hill in Washington, June 24, 2020. Jonathan Newton/The Washington Post via AP
On Thursday, the head of the Federal Communications Commission, Brendan Carr, approved the $8 billion merger between Skydance Media and Paramount, a deal that would allocate more than a billion dollars towards the latter company’s staggering debt.
But the agreement came with one major caveat: The media company must appoint a “bias monitor.”
According to reporting from The Wrap, an FCC “ombudsman” would work directly with New Paramount’s president, Jeff Shell, to review “any complaints of bias or other concerns” regarding CBS News, a subsidiary under Paramount.
Paramount also agreed to eliminate its diversity, equity, and inclusion initiatives, including scrapping all DEI messaging from its internal training programs and removing DEI objectives in its compensation plans.
This move comes after the company announced the cancellation of The Colbert Report only a few days after the eponymous host critiqued the network’s recent settlement with the president. Earlier this month, Paramount agreed to cough up $16 million to Trump after the president sued the network for allegedly unfairly editing an interview with Kamala Harris, an accusation that many legal experts have called “baseless.”
As my colleague, Inae Oh, has reported, Colbert’s cancellation marks a dark new chapter for our culture as a whole. Oh writes:
Though his second term has already produced a string of stunning capitulations by some of the most powerful forces in the country, one could argue that Trump’s attacks had yet to take down our actual culture. I’m talking about the literal content we consume—the television, art, movies, literature, music—no matter how much Trump complained. That it remained protected and free-willed, a rare area of control for a public that otherwise feels powerless to take action. Clearly, that was magical thinking. If this can happen to Colbert and a storied franchise, this can happen to anyone.
And when it comes to using his presidential power as a cudgel against the media that critiques him, Trump clearly shows no signs of stopping. This week alone, the president threw a tantrum over two TV shows that joked about him. On Wednesday, the White House issued a statement threatening the ladies of The View after host Joy Behar joked that Trump was jealous of former president Barack Obama’s “swag.”
A White House spokesperson told Entertainment Weekly, “Joy Behar is an irrelevant loser suffering from a severe case of Trump Derangement Syndrome.”
A White House spokesperson toldEntertainment Weekly, “Joy Behar is an irrelevant loser suffering from a severe case of Trump Derangement Syndrome” who “should self-reflect on her own jealousy of President Trump’s historic popularity before her show is the next to be pulled off air.”
Behar’s joke was tame compared to the animated show, South Park‘s treatment of Trump, who was depicted naked in bed with Satan. In response, the White House claimed that the show hasn’t been relevant in “20 years” and said “no fourth-rate show can derail President Trump’s hot streak.”
How long will South Park, whose creators just signed a 50-episode deal with Paramount, last under Trump’s regime? Let’s hope the ombudsman finds the Trump jokes funny.
This is long. Even long for a news nerd like me. But it is well worth it if you want to see how the current administration is using the military in ways it was not designed to do and against the laws to make it easier for them to be used in civilian control to enforce the will of tRump should he again refuse to accept the fact he has to leave office or if he wants something a governor / state won’t give him. The article shows how the military is tRump’s big stick to hit anyone who disagrees with him. Hugs
A U.S. Marine with 3rd Battalion, 7th Marine Regiment, 1st Marine Division, attached to Task Force 51, guards a federal area in Los Angeles on July 12, 2025. Photo: Lance Cpl. Andrew Whistler/U.S. Marine Corps/DVIDS
In his first six months in office, President Donald Trump has overseen the deployment of nearly 20,000 federal troops on American soil, including personnel from the National Guard, the Army, the Navy, the Air Force, and the Marines, according to the Pentagon’s public statements.
But the true number of troops deployed may be markedly higher. When asked directly, the Army said it has no running tally of how many troops have been deployed. These federal forces have been operating in at least five states — Arizona, California, Florida, New Mexico, and Texas — with more deployments on the horizon, all in service of the Trump administration’s anti-immigrant agenda.
Experts say military involvement in domestic anti-immigrant operations undermines American democracy and has nudged the United States closer to a genuine police state.
“If the president can use the military as a domestic police force entirely under his control, it can be used as a tool of tyranny and oppression.”
“This level of involvement of the military in civilian law enforcement in the interior of the country is unprecedented — and really dangerous,” said Elizabeth Goitein, senior director of the Brennan Center’s liberty and national security program, who told The Intercept that recent deployments violated the Posse Comitatus Act, a bedrock 19th-century law seen as fundamental to the democratic tradition in America which bars federal troops from participating in civilian law enforcement.
She added: “If the president can use the military as a domestic police force entirely under his control, it can be used as a tool of tyranny and oppression. We’ve seen it all around the world and throughout history.”
The norms surrounding the use of military force within U.S. borders are eroding, and the executive branch is operating with free rein, emboldened by a legislature and judiciary seemingly uninterested in curtailing its actions.
These soldiers have been sent to patrol the border, put down popular protest against Immigration and Customs Enforcement operations, participate in ICE raids, and assist in immigration enforcement missions from coast to coast. Here, to the extent of what is known so far, is what they’ve been up to.
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President Donald Trump began the further militarization of America on his first day back in office. “Our southern border is overrun by cartels, criminal gangs, known terrorists, human traffickers, smugglers, unvetted military-age males from foreign adversaries, and illicit narcotics,” Trump announced on January 20, directing the military to “assist the Department of Homeland Security in obtaining full operational control of the southern border.”
Despite the fact that Trump’s fearmongering was his typical hyperbole, more than 10,000 troops are deploying or have deployed to the southern border, according to U.S. Northern Command, or NORTHCOM, which oversees U.S. military activity from Mexico’s southern border up to the North Pole.
Under the direction of NORTHCOM, military personnel — including soldiers from the Fourth Infantry Division at Fort Carson in Colorado, one of the Army’s most storied combat units — have deployed under the moniker Joint Task Force-Southern Border, or JTF-SB, since March, bolstering approximately 2,500 service members who were already supporting U.S. Customs and Border Protection’s border security mission.
One-third of the U.S. border is now completely militarized due to the creation of four new national defense areas, or NDAs: sprawling extensions of U.S. military bases patrolled by troops who can detain immigrants until they can be handed over to Border Patrol agents.
The Air Force is responsible for the recently created South Texas NDA, which encompasses federal property along 250 miles of the Rio Grande River. The Navy controls the Yuma NDA, which extends along 140 miles of federal property on the U.S.–Mexico border near the Barry M. Goldwater Air Force Range in Arizona.
The New Mexico NDA, created in April, spans approximately 170 miles of noncontiguous land along that state’s border, serving as an extension of the Army’s Fort Huachuca. Another NDA was created in May in West Texas and covers approximately 63 miles of noncontiguous land between El Paso and Fort Hancock, serving as an extension of the Army’s Fort Bliss.
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Around 8,500 military personnel were assigned to JTF-SB to “enhance US Customs and Border Patrol’s capacity to identify, track and disrupt threats to border security,” chief Pentagon spokesperson Sean Parnell said at the beginning of the month. JTF-SB says the current number of personnel deploys stands at 7,600, while NORTHCOM says the current number of federal troops providing border security is closer to 8,600.
No one actually knows how many troops have been involved in border operations this year. “We do not maintain a running total of Service Members who have served with JTF-SB since its inception, so the total number since March is currently unavailable,” Kent Redmond, a spokesperson for JTF-Southern Border told The Intercept. NORTHCOM didn’t have a number on hand either. But more than 10 Task Forces have assisted JTF-SB, including Task Force Mountain Warrior, consisting of soldiers from the 2nd Stryker Brigade Combat Team; Task Force Castle, made up of soldiers from the 41st Engineer Battalion; 500 Marines and Navy personnel from Task Force Sapper; and 500 Marines and sailors from Task Force Forge. The latter replaced the Task Force Sapper troops and are now conducting patrols in the Yuma NDA.
Since March alone, Parnell said, the JTF-SB has conducted more than 3,500 patrols, including more than 150 “trilateral” patrols with CBP and the Mexican military. There have, however, been only seven temporary detentions by troops within the National Defense Areas, according to Redmond. He said the seven persons were “detained in place” by JTF-SB personnel for less than 10 minutes.
“The amount being spent to have the world’s best fighting force walk around the border to pick up a handful of people is shocking.”
“Setting aside the threats to democracy and liberty, the sheer waste is staggering. The amount being spent to have the world’s best fighting force walk around the border to pick up a handful of people is shocking,” said Goitein, who also noted that the detentions violated the Posse Comitatus Act.
“They may think if they detain people for only 10 minutes it’s not a violation, but that’s not how the law works,” Goitein explained. “They may also say that the Posse Comitatus Act simply doesn’t apply when the purpose is to protect a military base, but here it’s clear that the primary purpose is enforcement of immigration law.”
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The military has even dispatched Navy warships offshore to secure the border. After battling Yemen’s Houthi rebels in the Gulf of Aden earlier this year, for example, the USS Stockdale — a guided-missile destroyer — was deployed to support NORTHCOM’s southern border operations alongside the Coast Guard on the U.S.–Mexico maritime border. That ship took over for the USS Spruance, another guided-missile destroyer drafted into anti-immigrant operations.
“We are dead serious about 100% OPERATIONAL CONTROL of the southern border,” Defense Secretary Pete Hegseth said in a post on X in March.
Since then, the Department of Homeland Security has repeatedly announced historically low apprehensions along the southern border. “The numbers don’t lie — under President Trump’s leadership, DHS and CBP have shattered records and delivered the most secure border in American history,” said DHS Secretary Kristi Noem earlier this month. And as early as April, DHS announced, “Customs and Border Protection now has total control of the border.”
Despite all of this, as well as the huge influx of troops and weapons of war deployed at the border, when The Intercept inquired whether full operational control of the border had been achieved and “if not, why not?” DHS demurred. A senior DHS official, who offered comments on the condition of anonymity for no discernible reason, provided rote talking points and praise of Trump and Noem. The official added that the department was “grateful” for JTF-SB’s “support.”
More than 5,000 troops have also been deployed to Los Angeles since early June.
The National Guard soldiers and Marines operating in Southern California — under the command of the Army’s Task Force 51 — were sent to “protect the safety and security of federal functions, personnel, and property.” In practice, this has mostly meant guarding federal buildings across LA from protests against the ongoing ICE raids sweeping the city.
Since Trump called up the troops on June 7, they have carried out exactly one temporary detainment, a Task Force 51 spokesperson told The Intercept.
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Parnell, the Pentagon spokesperson, described this deployment as Task Force 51 supporting “more than 170 missions in over 130 separate locations from nine federal agencies, including the Drug Enforcement Agency, the U.S. Marshal Service, ICE and the Department of Homeland Security” in a briefing in early July. Task Force 51 failed to provide any other metrics regarding troops’ involvement in raids, arrests, or street patrols in response to questions by The Intercept.
Troops were sent to LA over the objections of local officials and California Gov. Gavin Newsom.
In addition to guarding federal buildings, troops have also recently participated in raids alongside camouflage-clad ICE agents. An assault on MacArthur Park, a recreational hub in one of LA’s most immigrant-heavy neighborhoods on July 7, for example, included 90 armed U.S. troops and 17 military Humvees. Its main accomplishment was rousting a summer day camp for children. No arrests were made.
California National Guard soldiers also backed ICE raids on state-licensed marijuana nurseries this month. The troops took part in the military-style assaults on two locations, one in the Santa Barbara County town of Carpinteria, about 90 miles northwest of LA and one in the Ventura County community of Camarillo, about 50 miles from LA. ICE detained more than 200 people, including U.S. citizens, during the joint operations. One man, Jaime Alanís Garcia, died while trying to flee from the raid in Camarillo.
On July 1, Task Force 51 announced that it would release approximately 150 members of the California National Guard from their LA duty. That same day, NORTHCOM said that the Marines from the 2nd Battalion, 7th Marine Regiment were leaving Los Angeles but would be replaced by the 3rd Battalion, 7th Marine Regiment.
Last Tuesday, Trump administration officials announced that about 2,000 more National Guard members deployed to LA would be released from service. On Monday, the Trump administration announced it was withdrawing the 700 active-duty Marines from Los Angeles. The withdrawals followed repeated reporting by The Intercept highlighting the failure of the troops to do much of substance.
All told, since the deployments began, around 5,500 troops have been sent to southern California, according to Becky Farmer, a NORTHCOM spokesperson.
On the other side of the country, Marines are being hustled to Florida to aid the administration’s anti-immigrant agenda. Responding to a DHS request, Hegseth approved a mobilization of up to 700 active, National Guard, and Reserve forces.
The first contingent — approximately 200 Marines from Marine Wing Support Squadron 272, Marine Corps Air Station New River, North Carolina — have been mobilized to support ICE’s “interior immigration enforcement mission” in Florida, NORTHCOM announced earlier this month. The command noted that they were only the “first wave” of ICE assistance. NORTHCOM says additional forces will be deployed to Louisiana and Texas. Hundreds more Guardsmen are expected to be sent to assist in more than a half dozen other states, including Arkansas, Indiana, Iowa, Nebraska, South Carolina, Utah and Virginia.
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Some of these same states are also using their own National Guard members in their own anti-immigrant operations. More than 4,200 Texas National Guard soldiers and airmen on state duty are engaged in Operation Lone Star, a border security initiative launched by Texas Gov. Greg Abbott in March 2021. Texas’s forces were bolstered, until April, by members of the Indiana National Guard.
Nearly 70 Florida National Guard members are also on state duty, conducting base camp security at the remote migrant detention center in the state’s Everglades known as “Alligator Alcatraz.” While Trump insisted that the swamp gulag was reserved for “deranged psychopaths” and “some of the most vicious people on the planet,” it was revealed that hundreds of detainees had committed no offense other than civil immigration violations.
“Governors should be doing everything in their power to avoid their state’s national guard troops being pulled into this lawless, authoritarian power grab, not spending precious resources to help it along,” Sara Haghdoosti, the executive director of Win Without War, told The Intercept.
The Trump administration’s use of military forces in its anti-immigrant crusade has been criticized as a publicity stunt and an authoritarian power play.
The directive signed by Trump calling up the California National Guard, for example, cited “10 U.S.C. 12406,” a provision within Title 10 of the U.S. Code on Armed Services that allows the federal deployment of National Guard forces if “there is a rebellion or danger of a rebellion against the authority of the Government of the United States.”
There was, however, no rebellion. Vice President JD Vance even recently vacationed at Disneyland in Anaheim, about 25 miles from LA.
Still, experts say that the stunt deployments represent a clear danger to American democracy by violating the Posse Comitatus Act; normalizing the use of the military in civilian law enforcement activities; and further transforming the armed forces into a tool of domestic oppression by aiding ICE, which increasingly operates as a masked, secret police force.
“ICE is running a nationwide campaign of violent, racist kidnappings, and Hegseth’s Pentagon is bending over backward to make the military into ICE’s chief sidekicks,” said Haghdoosti. “Troops abetting violence against their own neighbors isn’t tenable for our communities, our democracy, or the troops themselves.”
IT’S EVEN WORSE THAN WE THOUGHT.
What we’re seeing right now from Donald Trump is a full-on authoritarian takeover of the U.S. government.
This is not hyperbole.
Court orders are being ignored. MAGA loyalists have been put in charge of the military and federal law enforcement agencies. The Department of Government Efficiency has stripped Congress of its power of the purse. News outlets that challenge Trump have been banished or put under investigation.
Yet far too many are still covering Trump’s assault on democracy like politics as usual, with flattering headlines describing Trump as “unconventional,” “testing the boundaries,” and “aggressively flexing power.”
The Intercept has long covered authoritarian governments, billionaire oligarchs, and backsliding democracies around the world. We understand the challenge we face in Trump and the vital importance of press freedom in defending democracy.
We’re independent of corporate interests. Will you help us?
It’s all a lot of money. But one party doesn’t get the amounts of dark money that the other party receives; one party has access to the US Treasury through POTUS that the other party does not have, as well.
House and Senate candidates recently filed their fundraising reports covering the first six months of 2025. OpenSecrets analyzed the data to determine which candidates have raised the most money and which ones are sitting on the biggest piles of cash.
Let’s start with a look at Senate races. Jon Ossoff (D) is seeking reelection in Georgia, where he won his first term in the most expensive Senate race in history. (That record has since been broken). During the first half of this year, he raised more money than any other candidate running in 2026.
Sen. Cory Booker (D-N.J.), who was fifth in fundraising, has the most cash on hand, with Ossoff running third after this big first-half haul.
As of today, the well-respected Cook Political Report has identified three tossup races that could determine control of the Senate in 2027: Georgia, Michigan and North Carolina. The Tar Heel State race just moved into that category because Sen. Thom Tillis (R) announced his retirement June 29, so the candidate field has not yet solidified.
The three most senior members of the House of Representatives rank among the top fundraisers this year, but they were dwarfed by Rep. Alexandria Ocasio-Cortez (D-N.Y.), who raised $6.7 million more than Rep. Mike Johnson (R-La.), the speaker of the House.
Ocasio-Cortez and Rep. Ro Khanna (D-Calif.) raised the most among Democrats and also have two of the biggest stockpiles of campaign cash heading into the second half of the year. It remains to be seen whether Rep. Elise Stefanik (R) will stand for re-election to Congress or make a run for governor of New York in 2026. Rep. Raja Krishnamoorthi (D-Ill.) is running for an open Senate seat.
This article was originally published by OpenSecrets, a nonpartisan, nonprofit organization that tracks money in politics. View the original article. (The original includes pertinent charts that make the article make better sense. I recomment clicking through; I’m not sure why their republish code doesn’t include the charts. I tried to copy them separately to insert them, but copying was not allowed. -A.)
The United States has more money held by private citizens than any other country in the world. According to the Federal Reserve, U.S. households hold a total of $160.35 trillion, which is the value of each person’s assets minus their liabilities. However, many Americans are perplexed by the fact that, in a country with such wealth, so many people still struggle to make ends meet.
Although Americans hold the largest amount of privately held wealth in the world, many of us still struggle with financial stress. A recent report found that 68% don’t have enough money to retire, 56% are struggling to keep up with the cost of living, and 45% are worried about their debt levels. A significant reason is that a small number of people hold a large portion of the privately held wealth in the U.S..
Nearly two-thirds of America’s private wealth is held by the top 10% of people, leaving the remaining one-third to be divided among 90% of the population. (snip)
With so many people struggling in America, while a few at the top are unbelievably wealthy, what would happen if the money were magically divided evenly among the 340 million people who live in the United States? If everyone received a truly equal share of the American pie, every person would receive approximately $471,465. That’s $942,930 per couple and $1.89 million for those with two kids. (snip)
However, such a drastic redistribution of wealth would be cataclysmic for the economy, as people would have to liquidate their investments to give their assets to others. The sudden increase in wealth for many, without a corresponding increase in goods and services, would lead to incredibly high inflation. The dramatic reconfiguring of the economy would also disincentivize some from working and others from innovating. Some posit that if everyone were equal, in just a few months, those with wealth-generating skills would immediately begin rising to the top again, while others would fall behind. (snip)
Although it seems that a massive redistribution of wealth isn’t in the cards for many reasons, we do have some evidence from recent history on how programs that give people money can help lift them out of poverty. Government stimulus programs during the COVID-19 pandemic brought the U.S. poverty level to a record low of 7.8% in 2021. Child poverty was also helped by the American Rescue Plan’s Child Tax credit expansion, which drove child poverty to an all-time low of 5.2%. It’s also worth noting that the trillions in government stimulus had a downside, as it was partially responsible for a historic rise in inflation. (Note from A.: The hyperlink takes you to CNBC, which hastens to report this: “But the widespread rise in prices was mostly “a supply-side phenomenon” caused by the Covid-19 pandemic itself, Yellen told CNBC in an exit interview.”) (snip-a little MORE)
Very informative and heart felt. Aron Ra is well known for his thought approach to atheism and science, delivering it in a way that a normal person can understand. The things he says at the end and the pictures he shows makes clear that as he says this is not about protecting anyone but about enforcing bigotry. Hugs