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As the year dawns, the two biggest financial proposals from Democrats are eliminating college loans and repealing the limit on the federal income tax deduction for state and local taxes. If this seems at odds with the traditional leftist rhetoric about helping the poor, that’s because it is.

Twenty-first-century progressivism is a witch’s brew of payouts and tax cuts for the upper-middle class, mixed with bizarre social theories from name-brand universities. The Democratic Party has ignored the farmers, factory workers, miners, and other laborers who once numbered among its most stalwart supporters.

Progressivism — these days best described as leftism — is a luxury good targeted at those who can afford it: college-educated urban and suburban voters. Joe Biden and other Democrats old enough to remember Franklin Roosevelt still talk as though they lead the coalition he built, but increasingly cater to a constituency that bears no resemblance to the working men and women who built the Democratic Party of the last century. Leftist virtue-signaling and academic postmodernism are in — jobs, family, and community are out.

Top-Down Fake Socialism

At first glance, the alignment between Wall Street and Occupy Wall Street makes no sense. But as Alex Yablon wrote for Business Insider last month, they are increasingly aligned on a host of issues. One of these is the belief that the federal government may spend massive sums of money with no adverse consequences.

Among the radicals, this wish-fulfillment takes the form of a heterodox economic idea known as Modern Monetary Theory. While most economists agree that printing more money always leads to inflation, MMT enthusiasts hold that it can be controlled by taxation. They claim a government that borrows in its own currency (like the United States) can spend as much as it wants with no ill effect. If, after full employment is achieved by this spending, inflation begins to occur, the government can fix it by taxing the rich.

If you’re a leftist, it sounds like a win-win: spend as much as you want and if there is a problem, just stick it to the wealthy. What a system: Free money! No comeuppance! If only it were possible.

In truth, it is a utopian theory made to fit the desired result. Limitless deficit spending can only work if the dollar is the world’s reserve currency — and it would not be for long if we started printing limitless numbers of them. America has gotten away with deficit spending for as long as it has only because the other major money-printing nations of the world are either just as bad or worse. If it became clear that we were purposely devaluing our currency, the game would be over, just as it always has been for spendthrift nations.

Modern Monetary Theory makes for an easy way to paper over the consequences of big-spending actions, but why would Wall Streeters buy into this prosperity gospel for communists? Perhaps the amount of wealth pouring into Wall Street financial firms seems so limitless that MMT starts to make sense after a while.

The more likely explanation, however, is financiers don’t genuinely believe in MMT so much as they believe in being highly leveraged and letting someone else pick up the check when things fall apart. That fits Wall Street’s pattern of behavior a lot better than suddenly abandoning mainstream economic theories.

As it does for the radicals, MMT presents a pseudo-economic way to justify doing what they want to do anyway. The only difference is that while some of the socialists honestly believe the bill will never come due, Wall Street knows it will — they just think someone else will pay it.

Get Woke, Go Broke?

Meanwhile, the social agendas of leftist protesters and corporate executives are also curiously aligned. Again, the mismatch is between one group that desperately wants to believe it is true and another who cynically promotes a bad idea, knowing that their wealth and status will insulate them from the fallout of the societal explosion.

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All of the weird ideas that now fascinate left-wing cultural influencers have been around for years, contained within the seemingly inconsequential environment of elite colleges and universities. As Helen Pluckrose and James Lindsay explained in their recent book, “Cynical Theories,” the thought experiments of postmodernism mutated into the new dogmas of critical race theory, queer theory, post-colonial theory, and a legion of others.

That contagion then leaped from one host to another, moving from the academy to the activists. These super-spreaders shaped general opinion, especially through schools, and tried to take the virus mainstream.

This has become the culture war of our time, but the establishment has thrown in with the counterculture in attacking the system to which they owe their success. It’s not a new phenomenon.

Charles Murray observed a similar conundrum in his 2012 book, “Coming Apart: The State of White America, 1960-2010.” He catalogs the growing divide between the social habits of the upper and lower classes of white people, noting that where once rates of intact families, employment, and church attendance were similar across the social spectrum, vast differences now appear.

The problem is not just that poor people are increasingly unwed, unchurched, and unemployed. It’s also that those who are more successful refuse to encourage any other behavior, and even go out of their way to say that there is nothing wrong with the decay in social mores.

Thanks to the approval of leftist opinions in high places, these trends are moving up the social ladder into the middle class. At the same time, upper-class people maintain their status through the old-fashioned virtue of hard work and the maintenance of stable families. They call it tolerance of different lifestyles, and feel incredibly good about themselves for not being “judgy.”

If it is tolerance, it is a malignant tolerance. This phenomenon of, in Murray’s words, refusing to “preach what they practice” is corrosive and dishonest. It is echoed in the current phase of executives mouthing anti-capitalist slogans while living on the success of that very system.

A Coalition of the Woke and the Wealthy

So are they oblivious, or just cynical? We decry the hypocrite who preaches virtue but practices a secret vice. What, then, should we say about the mirror image of that: the person who lives virtuously but calls vice and virtue equals?

The educated and the rich know the secret to successful lives and prosperous societies, yet they go out of their way to deny those values to anyone who will listen. Whether society is shaped by Enlightenment values of postmodern nonsense ultimately does not matter to those at the top, who expect to maintain their status regardless.

To the rest of us, the embrace of woke dogmas and the dissolution of traditional virtue is revolutionary and destructive. The values that built America and made it a success were at once liberal and traditional, a combination that reinforced the people against the temptations of tyranny and vice.

The new Democrat coalition of woke and wealth find it fashionable to discard this time-tested system. Those at the top will probably survive the change, but for average Americans, it is an act of self-destruction that most cannot afford.



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Convicted fundraiser who tried to work his way into Biden’s inner circle sentenced to prison

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Amajor Democratic bundler, who raised large sums for Barack Obama and Hillary Clinton and consorted with Joe Biden, was sentenced to 12 years in prison for what prosecutors said was a “mercenary” political influence scheme.

Imaad Zuberi, a Californian businessman was sentenced Thursday for schemes to funnel foreign money into U.S. political campaigns, then take millions of dollars for himself.

The Los Angeles Times reported that U.S. Assistant Attorney Daniel J. O’Brien said Zuberi was “purely a mercenary, funneling money to whomever he believed would do his bidding.”

Among the many unsealed court records, Zuberi was seen photographed with Joe Biden and Barack Obama when they were Vice President and President. He was also pictured with former President Bill Clinton and former presidential nominee, Hillary Clinton. He took pictures with former Republican Rep. Paul Ryan when he was speaker of the House as well as the late Sen. John McCain of Arizona.

Also included in the Times report was a hacked email chain released on WikiLeaks. Hillary Clinton’s campaign manager Robby Mook messaged colleagues saying, “I’m OK taking the money and dealing with any attacks.” Jennifer Palmieri responded saying, “Take the money!”

He also attended Hillary Clinton’s election night party in New York City in 2016 as well as serving as a co-chair of The Trump Presidential Inauguration Committee.

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Zuberi made more than $950,000 in unlawful donations to the political committees of Obama, Clinton, McCain and others. Zuberi’s activities extended as far as a recent attempt to work his way into the Biden circle, according to Politico.  

In addition to the money he made, Zuberi also raised $270,000 for Hillary Clinton and $1.3 million for President Obama.

Zuberi, 50, pleaded guilty to a “three-count information charging with violating the Foreign Agents Registration Act (FARA)” for making false statements on a FARA filing as well as tax evasion and illegal contributions to political campaigns. He also pleaded guilty in a separate case earlier in June 2020 to a count of obstruction of justice.

“Zuberi turned acting as an unregistered foreign agent into a business enterprise,” Assistant Attorney General for National Secretary John C. Demers said in a Department of Justice news release.

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Cruz responds to pictures of him on Mexico flight, with Texas struggling from deadly winter storm

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Texas GOP Sen. Ted Cruz confirmed Thursday that he flew earlier this week to Mexico with family members, following the emergence of pictures appearing to show him in an airplane cabin and at a check-in counter, as fellow residents to recover from a deadly winter storm.

Cruz said in a statement that he accompanied his daughters on a flight Wednesday night to Mexico because they had the week off with school canceled.

“Wanting to be a good dad,” said Cruz, who also stated he is returning to Texas on Thursday afternoon.

The storms has been connected to at least seven deaths in Texas and knocked out power to as many as 2.5 million residents. The number of residents without electricity as of Thursday morning was down to less than 1 million, officials said.  

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“My staff and I are in constant communication with state and local leaders to get to the bottom of what happened in Texas,” Cruz also said. “We want our power back, our water on, and our homes warm.”

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South Carolina House passes bill that would prohibit most abortions if a fetal heartbeat is detected

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The South Carolina House of Representatives on Wednesday voted 79-35 to pass legislation that would prohibit most abortions. 

The bill must pass through a procedural vote in the House on Thursday prior to heading to GOP Gov. Henry McMaster who has indicated that he will sign it, according to the Associated Press. Two Republicans voted against the legislation while two Democrats voted for it. The state Senate passed the measure last month. 

The bill requires doctors to carry out an ultrasound to check for a fetal heartbeat and if a heartbeat is identified an abortion can only be performed in certain circumstances.

The legislation would not penalize a woman for obtaining an unlawful abortion, though the individual responsible for performing the abortion could face consequences.

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The outlet reported that other states have approved similar or even more stringent abortion prohibitions which could be implemented if the Supreme Court throws out the landmark 1973 Roe v. Wade decision. All of the other states’ abortion bans are currently entangled by court challenges and if the South Carolina bill is approved it will likely face litigation that prevents it from going into effect, according to the AP.

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