Archive for category Economic Exploitation
Last night’s Tea-GOP presidential debate was a miserable slog through two hours of lies, myths, and disinformation. I gave up after the first hour. But Donald Trump set the tone right away with the very first question from Neil Cavuto. And the Wisconsin audience must have been composed almost entirely of millionaires, because they applauded for every one of the deeply unpopular proposals coming from the eight candidates.
…And so we begin. Candidates, as we gather tonight in this very august theater, just outside and across the country, picketers are gathering as well. They’re demanding an immediate hike in the minimum wage to $15 an hour. Just a few hours ago, near Governor Andrew Cuomo proposed doing the same for all state workers, the first governor to do so.
Mr. Trump, as the leading presidential candidate on this stage and one whose tax plan exempts couples making up to $50,000 a year from paying any federal income taxes at all, are you sympathetic to the protesters cause since a $15 wage works out to about $31,000 a year?
I can’t be Neil. And the and the reason I can’t be is that we are a country that is being beaten on every front economically, militarily. There is nothing that we do now to win. We don’t win anymore. Our taxes are too high. I’ve come up with a tax plan that many, many people like very much. It’s going to be a tremendous plan. I think it’ll make our country and our economy very dynamic.
But, taxes too high, wages too high, we’re not going to be able to compete against the world. I hate to say it, but we have to leave it the way it is. People have to go out, they have to work really hard and have to get into that upper stratum. But we can not do this if we are going to compete with the rest of the world. We just can’t do it.
So do not raise the minimum wage?
I would not do it.
We all laughed when John Ellis (“Jeb!”) Bush told Americans to forget about a raise, just “work longer hours.” Last night, Trump said roughly the same thing.
Americans work an average of 47 hours a week. Our wages have stagnated since 1979. None of the Tea-GOPers on stage last night offered any help at all for the struggling middle class or entry-level workers. Nor did they address the injustice of the low-wage business model, which forces taxpayers to subsidize some of the nation’s most profitable corporations when their employees are not paid a living wage.
Unemployment keeps going down. So why aren’t wages going up?
Overworked America: 12 Charts That Will Make Your Blood Boil
Americans are spending $153 billion a year to subsidize McDonald’s and Wal-Mart’s low wage workers
Don’t listen to the demagogues who want to blame the economic problems of the middle class and poor on new immigrants, whether here legally or illegally. The real problem is the economic game is rigged in favor of a handful at the top, who are doing the rigging.
This is a time sensitive cartoon. You only have until tomorrow to watch it for the full effect.
It’s angering to imagine where we could have been by now:
Robert Rubin, Hank Paulson and Timothy Geithner yuck it about income inequality…
Thanks to Sam Seder and AlterNet.
This is part of the Clinton administration’s legacy. In a new book, Kathryn J. Edin concludes the number of Americans living on $2 a day or less has “more than doubled since 1996, placing 1.5 million households and 3 million children in this desperate economic situation.”
$2 per person per day, or $2,920 per year for a family of four. is an income category that the World Bank refers to as “extreme poverty.”
1996 is an important marker, because that’s the year the Clinton administration, working alongside Republicans in Congress, eliminated the Aid for Families with Dependent Children program, which provided a guaranteed safety net for the poor. In its place they created Temporary Aid for Needy Families (TANF), a much more meager and temporary safety net.
…In 2012, only one-quarter of poor families received TANF benefits, down from more than two-thirds in 1996, according to the Center on Budget and Policy Priorities. According to $2.00 a Day, the welfare program reached more than 14.2 million Americans in 1994, but by 2014 only 3.8 million Americans were aided by TANF.
The failure of TANF, like the decline of the American middle class, is barely mentioned in the media. Nobody is asking presidential candidates about this. Instead we get Donald Trump’s daily insult-fest and the great gefilte fish e-mail flap.
Could You Survive on $2 a Day?
Via Media Matters:
Throughout the day on June 10, Fox News and Fox Business personalities derided an expected proposal from the Labor Department that would expand guaranteed overtime pay to millions of American workers who currently work uncompensated hours.
…Under current federal guidelines, salaried employees are only guaranteed overtime pay if they earn up to $23,660 per year. Raising the threshold to $52,000 would expand overtime protections to at least 6.1 million additional American workers, and bring the policy roughly in line with federal standards last witnessed in 1975, according to the Economic Policy Institute.
On the Faux News Channel, commentators worry that paying people for the hours that they actually work “undercuts work ethic.” Seriously?
Source: Credit Suisse Global Wealth Databook 2014
Financialization of the economy is both a symptom and a major cause of inequality. Financialization is when making money from money becomes more important than providing real goods and services. It’s characterized by risky asset bubbles and periodic crashes that affect everyone in the 99 Percent because we’re not “too big to fail.” Les Leopold: “Wall Street is out of control. Once deregulation started 30 years ago, money has gushed to the top as Wall Street was free to find more and more unethical ways to fleece us.”
The result: Despite the fact we’re the richest country in the world, U.S. median wealth is just $53,352 according to the Credit Suisse Global Wealth Databook (PDF).
The U.S. continues to lead the world in billionaires (571 in 2014, with China a distant second at 190). But after decades of financial deregulation and attacks on employee rights, Americans rank 26th in median wealth (defined as assets owned, minus debts owed for the person on the middle rung of the wealth ladder).
The Gini index for the USA has risen to 84.6 (with 0 representing perfect equality and 100 representing perfect inequality). Very few countries can top that, and not by much.
Seattle-based venture capitalist Nick Hanauer offers a smart policy proposal that President Obama could implement with a stroke of the pen. The President could raise wages and create jobs by directing the Department of Labor to expand the number of workers who can receive overtime pay. Sign the petition.
More from Democracy for America:
President Obama: Expand overtime pay!
We urge you to instruct the Department of Labor to significantly expand the number of workers eligible for federal overtime pay. By raising the salary threshold to $69,000, we would finally achieve the same eligibility for overtime pay that we had in 1975.
We also urge you to revise the rules in order to reduce the number of exemptions from overtime pay. Teachers, federal employees, doctors, computer professionals (anyone who uses a computer), and many more professional workers have been working overtime and increasing their productivity but aren’t seeing the benefits of their labor. They should also be eligible for overtime pay.
Revise the rules to expand overtime pay without delay.
Whatever Happened to Overtime?
Tea-GOP Congresswoman-elect Mia Love regarding our public lands: “I support returning ownership back to the state of Utah.” The premise of this statement (not to mention the grammar) is completely wrong, because the public lands in Utah have always been in federal ownership since the Treaty of Guadalupe Hidalgo in 1848. The State of Utah did not exist until 1896, nearly a half-century later.
State-level land grab attempts such as the Transfer of Public Lands Act (the 2012 Utah law that demands the federal government hand over public lands to the state by December 31, 2014) violate both the U.S. Constitution and the Utah Constitution. However, the U.S. Congress has the ultimate power over all federal lands. The Property Clause in Article 4 of the Constitution says: “The Congress shall have power to dispose of and make all needful Rules and Regulations respecting the Territory or other Property belonging to the United States…”
Now that the Tea-GOP controls both houses of Congress, will Mia Love get her wish?
For the Republican Party, the growing internal debate over whether America’s public lands should be seized and sold represents a choice between the conservation values of Republican President Theodore Roosevelt and the power of a special interest-driven agenda. Former Secretary of the Interior Ken Salazar observed in August that the RNC’s endorsement of land grabs would “cause Teddy Roosevelt to turn over in his grave.”
With the debate escalating over whether public lands should be seized or sold, candidates who dodged the issue but won on Tuesday will likely soon have to say whether they are with the party of Teddy Roosevelt or Cliven Bundy.
President Obama has the power (delegated by Congress to the chief executive in the Antiquities Act of 1906) to proclaim national monuments on public lands. He has already done so 13 times to protect more than 260 million acres of land and water, which is more than any other President. And he says he is “not finished” with national monuments.
There is a proposal for a Greater Canyonlands National Monument in Utah. The Tea-GOP has it coming. Will President Obama bring it?
The Sagebrush Gang Rides Again? (February 2012)