By: Duncan Burns 3/23
Gini has told Massachusetts she’s leaving the state for good. Massachusetts Democrats looked at Gini and just shrugged and walked away. Democrats, especially those serving in The Massachusetts Legislature, as well as Congress, never really liked Gini anyways.
Why do you ask?
Maybe because no matter which way you slice things, Gini is always right and never lies. Politicians hate that.
In case you haven’t caught on by now, Gini isn’t a real person, it’s a coefficient that measures income disparity. Of which Massachusetts is just outside of the top five, coming in at number six (6), worst states in the nation for income disparity.
The U.S. Census Bureau came out with an “Income in the United States: 2021” late last year, and it’s no wonder local & state media left it alone. It shows the overwhelming populace of the country is drowning, mostly due to inflation, including the results of the Orwellian Policies of COVID. This is after 11 years of Federal Reserve Monetary Policy that enrich the wealthiest of this nation via Quantitative Easing (QE).
During this epic run, the wealthy, and those who could navigate our markets, things couldn’t get any better. This includes the politicians you elected and have a say in those policies. Just look at Senator Elizabeth Warren’s or Representative Katherine Clark’s portfolios.
For nearly two (2) years, from 2020 to 2022, Congress passed The American Rescue Plan and The Inflation Reduction Act, the latter of course did absolutely nothing to reduce inflation.
The totals were roughly $7 trillion in the 2-year time span, which resulted in a decades high of 9.1% CPI print in June of last year. Of course politicians took victory laps, The Third District’s own U.S. Representative Lori Trahan continues to take victory laps of lowering the price of a few drugs. Meanwhile, those in the bottom income percentiles continue to be impoverished from the inflation the spending caused. Their answer? More spending. Made only worse with The Fed raising interest rates because they must destroy in order to attempt to fix what they did.
Maura Healey just released her $55.5 billion dollar budget this week, which isn’t going to help anyone.
Because the inflation caused by massive spending (both state and federal) is regressive, which means it impacts everyone except the truly wealthy, but hits harder upon the poor. Massachusetts already has the 3rd worst state budget in the nation, so where’s the improvement? More spending to “help”?
The median household income in Massachusetts for 2021 was $86,566, down from the 2019 high of $87,707. When adjusted for CPI (nationally), earners must make $211K just to be in the top tenth percentile, which means everyone else is falling behind.
Neither state or federal politicians in Massachusetts will take responsibility for what they’re doing to this state & country, because you know, government knows best. Why would they?
They’re either already wealthy, or in Beacon Hill’s case, they simply vote themselves yet another raise. GOP in other states aren’t absolved from blame either, they voted for insane spending as well. Most of the monies go to their donors & corporate hack beneficiaries. Most of you got bought off for some chump-change “stimi-checks”.
How’s that working out now?
Apparently great, because Massachusetts now leads the country in flight out of the state. For those stuck here, especially the bottom 50th income percentiles, when all you have left to eat is cake, you need only look in the mirror as to why that’s all there is. You voted for it, and it isn’t going to get better, no matter what these politicians tell you…They lie for a living. ◊