#ExistenceTax #FinancialCentralization #HousingCrisis #MinimumWage #FederalReserve #RockefellerInfluence #EconomicInequality #MarketLiquidity
The article titled “Existence Tax: The Vig Plus 3%” delves into a thought-provoking comparison between the fiscal impacts of organized crime and those of extensive societal organization on urban life. The author, Tim Hartnett, raises intriguing questions about whether modern citizens are faring any better under state-run systems, such as lotteries and business regulations, compared to the era when the mob had significant control over urban economics. Hartnett paints a vivid picture of a society where both historical and contemporary forms of economic organization have imposed their versions of a ‘vig’—a charge or extraction on transactions, likening today’s financial systems to a more sophisticated form of racketeering.
The piece transitions into a critical analysis of how the push towards a cashless society, championed by credit card companies, mirrors the monopolistic practices of mobsters, albeit under the guise of legality and modern fiscal prudence. Hartnett describes these companies as parasitic entities demanding a cut from every transaction, subtly enforcing their control over the economic activities of everyday individuals. This comparison extends to discussing the impact of governmental and financial institutions on the livelihoods of ordinary people, referencing the ongoing struggles with housing, employment, and the viability of small businesses amidst an environment of increasing rents, taxation, and bureaucratic red tape.
In reflecting on the evolution of the American economy, Hartnett draws attention to the stark differences in purchasing power, housing affordability, and the national wage scale over the past five decades. Through specific examples such as the comparative buying power of minimum wage earnings and the exponential increase in the circulating currency, Hartlett seeks to highlight the disproportionality of economic growth and distribution. He suggests that the mechanisms of financial centralization, epitomized by the creation and operations of the Federal Reserve following the banking crisis of 1907, have fundamentally altered the landscape of economic equity and opportunity.
The commentary concludes with a somber reflection on the overarching influence of centralization in financial and political spheres, particularly critiquing the legacy and operations of the Rockefeller family and their contributions to global centralizing entities like the United Nations. Hartnett provocatively suggests that these efforts towards centralization serve to consolidate power and wealth among an elite few, at the expense of the wider populace. He posits that the contemporary economic struggles faced by many Americans cannot be divorced from these larger historical and systemic practices of economic manipulation and control, painting a picture of a society grappling with the vestiges of both overt and covert forms of fiscal domination.
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