People talk as though another economic crash will be the unanticipated result of the atrocious tax bill the Senate recently passed. Nothing could be further from the truth. In fact, it’s the other way around. Remember Disaster Capitalism? For the hyper-wealthy, another huge economic crisis is not something to be avoided. It’s something to be actively sought. That is precisely the driving force behind this tax bill.
When the economy crashes, folks like the Koch brothers, the Mercers, and Mr. Mnuchin himself are insulated by their wealth and holdings. Even better, because they are responsible for engineering the crash in the first place, they can make sure to sequester their money in safe places beforehand. Then, when less fortunate folks (meaning just about everyone else) lose their homes or have to sell off assets at fire-sale prices, the Kochs and their ilk are ready to snap it all up.
Economic crashes not only help the super-rich get richer, they allow these same people to consolidate their power and control. Think of Mr. Potter in It’s a Wonderful Life. He knew the imminent failure of the Bailey’s Trust and Savings would allow him to grab all the remaining banking business in town. In the same way, the Kochs and their ilk take advantage of crises to buy up competing businesses, property, and other assets on the cheap.
Everything the Republicans are telling us about this bill is a lie. This tax “reform” bill, with its plethora of relaxed financial regulations and its giveaway to corporations and the super-rich, is specifically designed to 1) increase economic inequality, and 2) create another economic meltdown.
I don’t even think it’s about the money. These people have all the money they will ever need. Rather, it’s about power. The more you own, the more you control, the more people who are indebted to you or who depend on you for a job, the more Congressmen you can buy, the more power you have. The last recession was a windfall for these people, which is why they are so anxious for another one. Their ultimate goal is in sight: Complete economic and political control of the country.