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competition. i ve said it before and i ll say it again. capitalism without competition isn t capitalism. it s exploitation. so what is the white house going to do about it? the president s action plan calls for investing $1 billion federal dollars in independent meat processors through grants and loans. this is all aimed at boosting competition. they also want to launch new regulations into combating abuses here. they are planning to roll out a product of usa labeling rules so that people have a better sense for where their meat is coming from and also launching a new way for farmers to report anti-competitive concerns to the justice department and the usda. the chamber of commerce is not happy here. they are calling the biden plan misguided and they re arguing the administration basically using these high prices as an excuse to launch an antitrust crackdown. pleat read you a key line from neil bradley, the chief policy receive at the chamber. he said that isn t economics.
steve, first to you. david, this isn t politics. this isn t economics. this is ideology. the president feels that business people are evil, profits are a form of plundering. that s why he doesn t want to have those tax cuts extended. that destroys capital. it is going to hurt the economy. but it is done for ideological reasons. it worked for kennedy, reagan, a little in the last decade. if you have a stable dollar and cut tack rates and allow capital formation the economy will grow. but he doesn t want to do it. we don t have a stable economy. when your economy is unstable you don t hit anybody with a tax hike. right. but it is a real hypocrisy to say tax cuts did anything for the economy other than create a class system in our society and make the rich the super rich. if you look at the middle class, which is eroding, their