• Capital gains taxes and investment tax credits

    Conservative spin artists like to ask the question: whoever got a jobfrom a poor person? Since the wealthy will always be with us, the morerealistic question is: whoever invested money when consumersdidn’t have enough money to buy the products they needed? 신용카드현금화

    The day after the Fed lowered the primeinterest rate by a quarter of a point in December, 1995, Rush Limbaughnoted that they were forced to because our economy was slowing down.And, of course, he used the event to cast blame on liberals for the inevitable economic downturn. His reasoning: the Deficit Reduction Act of 1993 increased taxes onAmerica’s wealthy (the top 1.2%).

    Of course, the economy boomed andthe deficit actually went down for the six years after Limbaugh’s prediction. But, according to Limbaugh,the later “delayed reaction” caused the recession after Bush became president. Because, you see, when thewealthy have less money, they invest less, unemployment goes up, and, voila, you have an economic downturn (six to sixteen years later).

    What nonsense. Limbaugh and his right wing cohorts are convenientlyleaving out the fact that our present economic difficulties have nothingto do with the lack of investment funds. Plenty of manufacturers areproducing products. There are no shortages in the warehouses or onthe store shelves.

    Everyone should understand that the reason more retailers will go out of business eventually, and the economy will slow down�is that the bottom half of Americans are running out of money to buy the products that are already available. 신용카드현금화

    By historical standards, unemployment is low, but wages should be high,and they aren’t. In fact, wages for the bottom half of Americans are progressively getting lower, relative toinflation. And taxes on our wealthiest citizens have nothing to do withit. Even the amount of investment has nothing to do with it. It’sthe quality of investment that has everything to do with it.

    The major causes of our present problems are the conservative political actions that been accumulating for the past fifty years, and that have destroyed the quality of investment in America.

    Conservative political actions that:

    • Reward investment overseas instead of in our own country,
    • Pit American workers against the most brutalized workers in the third world,
    • Destroy the power of labor unions to protect workers’ wages,
    • Overturn legislation that protects workers from unsafe working conditions, and unfair labor practices,
    • Load the courts with conservative judges (who always find in favor of companies and against workers), and, when necessary,
    • Manipulate the prime interest rate any time it looks like workers may begin making more money.
    
    

    It’s deja vu (1929) All Over Again

    Add all these things up, and you have the identical conditions we had in the late 1920s, when our country converted this same kind of conservative political nonsense into actual law.

    Despite the economic boom of the roaring twenties, by 1929 over 60% ofAmericans made less than $2,000 per year, the amount required to take careof a family of four. While the number of millionaires tripled (the sameas in the 80s), the per capita income was just $750 a year. 신용카드현금화

    It was not a lack of investment funds in the hands of the wealthy thatbrought us the depression. It was a lack of money in the hands ofconsumers. People all over the world simply didn’t make enough money tobuy the products they were making in their own factories.

    Labor unions were almost powerless. Companies were relocatingmanufacturing operations overseas. Twelve hundred mergers swallowed morethan 6,000 companies, and just 200 corporations controlled half ofAmerican industry. The so-called “free market” was a market that was ruthlessly controlled by the world’s wealthiest citizens.

    Just like today.

    And when the bottom two-thirds of Americans ran out of their purchasingpower, did the wealthy invest and provide jobs? Not on your life. Whowould invest money in manufacturing plants or stores when people haven’t enough money to buy anything but bare necessities?

    Instead, during the depression, and with the huge tax breaks they hadbeen receiving since 1925, the wealthy bought mansions in Florida, islandsin the Caribbean, bankrupt farms at ten cents on the dollar, and, ingeneral, anything safe and that they could enjoy.

    
    

    The “Wealthy Investor” Fallacy

    Fact is, if we managed our economy so that, say, one million workers got $100,000,000 more in wages ($100 each), we would create far more investment than if we gave each of 1,000 millionaires a $100,000 tax break. 신용카드현금화

    The millionaire might simply buy treasury bills with his $100,000 taxrefund (on which taxpayers would pay the interest.) Or, he may buy thehouse you’re living in and raise the rent. Both of these are sociallydesirable options in the view of conservatives. On the other hand, hemay just go to Las Vegas and gamble it away. Easy come, easy go. Unfortunately, this is exactly what too many rich people are doing today.

    To rich people, $100,000 is discretionary. That is, they can spend themoney any way they damn well please. They can invest it, they can sockit away, or they can hoard wealth (especially land and buildings), anddrive up the prices on everything from private homes to automobiles. However, if a million workers each make an extra $100, you know for sure that investors will climb over each other trying to figure out how to get it. Investors know that, in workers’ hands, the money has to be spent, and usually for necessities.

    Not only will the money be spent, it will create investment in producing products that are needed by large numbers of people.

    By the way, if you’ve been reading the newspapers lately, you know that “upper-end stores,” the ones that cater to high income people, are doing very well today. The stores that cater to middle and low income workers are the ones that are in trouble, and that likely will go into bankruptcy. That’s an omen for the future if there ever was one.

    
    

    Arm Yourself with Facts and Educate Others

    No doubt about it, a severe economic downturn is coming. It’s hard totell when it will happen, and, with conservatives in total controlof our economy�it probably won’t come to a screeching halt until thebottom half of Americans lose their credit and most of their purchasing power. 신용카드현금화

    But when it comes, watch out. Conservative demagogues are already figuring out new ways to transfer blame:

    • from the primary cause: low wages that resulted from conservative political and economic actions, and that directly benefit America’s wealthiest citizens,
    • to conservatives’ most popular scapegoats: government, taxes, welfare, unions, and economic policies that directly benefit low and middle income workers.

    America’s wealthiest citizens bankroll our right wing think tanks, and their highly paid propagandists will massively bombard the public with the same kind of economic nonsense that Limbaugh spouts on his daily harangue.

    Our only defense will be poorly financed, but well educated citizens who talk to each other.

    
    
    
    
  • Bill Clinton: A Moderate Republican

    This work is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 License.

    Feel free to download this material for personal, not-for-profit, use. If you duplicate it for others, attribute it to Charles M. Kelly. Print copies are still available at Amazon and Barnes & Noble, and used copies are widely available on the internet.

    
    

    Forget the Monica Lewinski debacle. She’s irrelevant. 신용카드현금화

    Clinton was a disaster for liberals and Democrats because he was a closet Republican and was a major cause of the wealth and income gap that exists today between the rich and middle- and low-income Americans. Voters now identify his economic policies that benefitted investors and the wealthy at the expense of workers—primarily, but not exclusively, NAFTA, WTO and “globalization”—with today’s liberals and Democrats. As they say, “Why vote for a Democrat if their economic policies are just as bad as the Republicans.”

    The Wall Street Journal agreed. From the November 7, 1996 issue:

    According to the biased-conservative-news-media, Clinton was right where Big Business wanted him: in the middle of the road between the Republican right wing of Congress, and the moderate Democrats in Congress.

    In other words, The Wall Street Journal and America’s right wing have successfully changed our definitions of balance and moderation. Traditional “Eisenhower Republicanism” (Clinton) is now considered moderation, and is almost nonexistent in the Republican party. Traditional “Truman Liberalism” is now considered extremist and is increasingly rare in the Democratic party.

    This means that big corporations, the wealthy and the powerful have convinced the American voter that:

    • Workers’ wages are low, not because they lack power, but because they are uneducated and poorly trained
    • Unmanaged free trade will eventually benefit all Americans
    • The growing wealth and income gap in our society is good because it is fair (the wealthy work harder and have more talent) and it will eventually benefit everyone
    • The more money our richest citizens take out of our corporations and our society, the better off everyone will be
    • High taxes on our richest citizens are unfair and hurt the economy
    • Money, greed and raw political power have nothing to do with what voters believe about the above
    • And, in general, no one should try to change any of the above because that would be “big government,” and, besides, these “temporary abberations” are the natural, inevitable forces of a healthy economy.

    Conservatives have been very effective in palming off these economic absurdities. Even many former liberals have changed sides, having joined the ranks of the affluent, and having forgotten what kinds of governmental policies got them there. 신용카드현금화

    Democrats are long overdue in disavowing much of Clinton’s economic policies. They erroneously feel they must leave his legacy untarnished if they are to regain the confidence of voters. The opposite is true: they absolutely must educate the public, including many Democrats, about who destroyed working-class incomes through globalization—Republicans and conservative Democrats.

    To get a roaring stock market, Clinton and the Republicans were willing to exchange high-paying manufacturing jobs for a larger number of poor-paying service jobs. And now the pressures on American incomes are creeping up the economic and social ladder to high-skill and professional jobs.

    It’s an economic disaster, and—until Democrats are willing to accurately place blame where it belongs—they’ll never be able to truly level with the American public about what needs to be done now. The answer to our economic problems is NOT more of the same—globalization and a whole range of anti-labor legislation—but just the opposite.

    As America continues to drift to the far right, with the help of some pseudo-Democrats, the charade continues

    .

    
    

    Now go to:

    
    
    
    
  • Best reasons for taxing the wealthy

    Conservatives argue that we should give rich people capital gains taxbreaks for “investing in jobs,” and to stimulate the economy. It’s aphony argument. In most cases, it’s simply another scheme to continue the transfer of wealth from middle and low income workers to the wealthy.

    You stimulate the economy and create jobs by getting money into the hands of consumers, not by helping the wealthy buy mansions in Paris, or invest in Chinese, Indian, Mexican, etc., businesses.

    The biggest cause of the depression of the 30s: the wealthy had plenty of money but the average person didn’t have enough even to buy the products they needed that were in the stores. It’s a painfully simple fact: when consumers have money to buy, someone will invest money to get it. When consumers DON’T have money to buy, NO ONE will risk their money to invest.

    Besides, let’s face it. No one gets rich by working, except possibly movie actors, athletes, and a few others who are in some unique profession. That’s why the wealthy will always be hiring others to do their work for them – because that’s how you get richer in America. And we shouldn’t give them tax breaks (capital gains), simply because they are getting richer from the work of others.

    Republicans also consistently ignore the historical fact that, after Clinton got his Deficit Reduction Act passed, in which taxes were increased for the top 1.2% of Americans, we had a decade of economic growth so strong that conservative economists were calling for the Fed to slow down the economy. 신용카드현금화

    Of course, much of the capital gains taxes that conservatives fight forare for passive investments, in which they add nothing to theeconomy. For example, suppose a person buys up ten rental houses, raisesthe rent, and then sells those ten homes at a huge profit.Conservatives say that he shouldn’t have to pay as much taxes on his profit as a construction worker pays on his fixed salary. Or a secretary or a truck driver, etc.

    Not only does the investor make huge untaxed profits, he took several homes off the market and increased the price of homes for workers who may later want to buy one of them.

    That’s a scheme that only a right wing conservative could love.

    
    

    Return Home, or go to The Two-Minute Video.

    
    
  • Best and brightest, or greediest and most corrupt? | citizen-times.com

    If you’ve been watching TV recently,especially Fox Financial Network or CNBC, you’ve heard so-calledexperts justify the millions that bankers and Wall Streeters aremaking. After all, they point out, America’s “best and brightest” havebeen going into the financial industry, and therefore their hugeincomes are justified. In addition, it would be a shame if cuttingtheir pay would mean we would lose their services.

    If the last decade has proved anythingat all, it is that America’s greediest and least principled—not thebest and brightest—have been dominating our financial and securitiesmarkets.

    After 35 years as a management consultant, I’ve come to twoconclusions: First: the closer a person is, and wants to be, directlyconnected with providing a product or service that benefits the public,the more that person’s behavior is likely to be moral. Second: the morea person’s goal is simply to make more money, and the more removed fromthe product or service, the less moral that person’s behavior is likelyto be. 신용카드현금화

    For example, the best and brightest engineers and scientistsare usually found doing what they enjoy most: engineering and science.If they are politically sophisticated, some actually make it into theupper levels of management. However, as a dean of an engineering schoolonce noted: “the best way to succeed in engineering is to get out ofit.”

    Too often, politically oriented and technically mediocreengineers and scientists seek to improve their standard of living bysucceeding in corporate management. When they associate career successprimarily with profitability, they are more likely to make decisionsbased on expediency, and not on what is in the public interest, or evenin the corporation’s long term interest.

    The Space Shuttle Challenger disaster is a classic example. Ina famous meeting, the scientists and engineers directly associated withthe technology angrily shouted their warnings that the Challengershould not be launched under the predicted weather conditions. Seniormanagers, however, because of political pressures within and outsideNASA, chose to take their chances.

    The demise of Arthur Andersen Accounting is another classic.At one time, Andersen was managed by executives who cherishedprofessional accounting principles, and it was considered the goldstandard among accounting firms. When it certified a corporation’squarterly report or profit and loss statement, investors could “take itto the bank.”

    However, executives who chose personal wealth and corporateprofitability over professional accounting standards rose through theranks, and Andersen began to use its expertise to help corporationsimprove their stock prices by deceiving the investing public. Theresult: some top executives retired incredibly wealthy when Andersentanked, but thousands of professionals who still believed in honestaccounting—truly the best and brightest—lost their jobs. And that’s noteven considering the devastating effects that Andersen’s practices, aswell as the degenerating standards of the accounting industry, had onthe nation’s economy.

    Fast forward to today. There is probably no profession moreremoved from genuine products and services than financial arbitragetraders. By inserting themselves between investors and corporations inthe securities markets, and under the flimsy excuse of providingliquidity, they took billions out of the market for themselves—moneythat should have gone to long-term investors and corporations.

    The traders who specialized in derivatives were especiallyremoved from genuine financial products and services. By selling andre-selling securities that had no intrinsic value, they created genuinewealth for themselves, but phantom wealth for their clients—and cameclose to destroying the world’s economy.
    The savings & loan crisis, the dot.com bubble, the sub-primemeltdown and the countless corporate disasters are the result of greedand corruption, and not of our best and brightest making honestmistakes. Those who say that greed is essential for the success ofcapitalism deliberately confuse healthy self-interest with greed, whichis excessive self-interest.

    Self-interest drives individuals to work harder and to be morecreative and productive in order to provide for themselves and theirfamilies. It is, indeed, a requirement for a good economy. Greed, onthe other hand, leads to behaviors that are deceptive, exploitative,and even fraudulent and illegal. There’s a reason it’s considered avice in all the major religions of the world: it destroys societies.And, if not regulated, monitored, and controlled by a wise government,it will destroy a strong economy.

  • American investors bailing out in economic recovery | citizen-times.com

    When it comes to reducing the unemployment rate, America’s investors are not only missing in action, they’re making the situation worse. Their principle motivation is, and always has been, to pressure corporate managements to reduce or eliminate labor costs.

    If you want to know what’s happening to our economy, forget what politicians and special-interest economists tell you. Instead, pay attention to the Wall Street gurus who advise investors. Although they disagree about the future of specific stock prices and the overall market, they’re in basic agreement about our economy. 신용카드현금화

    Consider the debate between advisers who predict the stock market will go up, versus those who feel we are headed for a double-dip recession. Those predicting recession cite the chronic unemployment rate, reduced consumer spending, the bankruptcy of state governments and the weak housing market, among other things.

    Those who feel that the stock market will go up point out — as one guru on CNBC put it — “corporations have become lean, mean, money-making machines,” and are almost immune to weaknesses in the U.S. economy. Note that this debate is not about chronic unemployment, stagnant wages or the housing market. It’s about how those factors will affect American corporate profitability in other countries.

    Business Week recently offered insights into our economic future when it quoted Allen Sinai, former chief economist for Lehman Brothers, about the economy: “We are not going to generate a lot of jobs. The cost of labor is too high. We are having a huge substitution of technology for people to save money and make profits.”

    In its article “Bloodied, Juárez Still Lures Big Companies,” Business Week also noted that Juárez is one of the most violent places on earth and recorded 5,200 murders in the past 28 months. Yet its factories have added 27,000 workers in the past 10 months. “Blue chips like Johnson & Johnson, Delphi Automotive and Scientific Atlanta show no signs of leaving Alan Russell, who runs industrial parks in Juárez for dozens of corporate clients, mostly American, says he has landed more business in 2010 than all of last year.”

    All pretenses are gone. It’s now out in the open. To enrich themselves, investors and top corporate executives are willing to outsource all jobs — from any country and no matter what the skill level — to that part of the world that has the lowest wages and worst working conditions. In addition, technological advances are to be used to reduce work force and save costs, and the benefits are not to be shared with workers. 신용카드현금화

    America’s Congress, leading economists and pundits seem incapable of acknowledging the obvious. International trade based on exploiting cheap foreign labor is a disaster. Instead of globalization improving the living standards of all the world’s citizens, it’s created huge wealth at the very top — all across the globe — and put the screws to those who work for a living by pitting them against each other in a race to the bottom.

    We’re losing our industries, our national debt is ruinous, wealth disparity between rich and poor is exploding, and China and India are becoming the world’s leading economic powers. It’s time to acknowledge an uncomfortable fact: Those who control government, either elected officials or powerful people behind the scenes, always determine the extent to which different classes of people share society’s productivity. Whatever is happening in an economy — those in control are getting the results they actually want — not what they claim they want. 신용카드현금화

    The politicians who conned us into globalization are the same ones who created the conditions they now cite as reasons why workers must accept a lower standard of living: Working Americans, at all levels, can’t compete globally unless they’re willing to work harder and for less money.

    When the U.S. adopted the Third World standard that classifies workers as machines or raw materials, it forfeited its ability to control its own economy. Before globalization, our government could balance the interests of investors, workers, consumers and the environment through its regulatory, fiscal and monetary policies. When this was done well, say from 1932 to 1980, we had an economy that benefited all classes of society. When done poorly, as from 1980 to today, it results in the destruction of the middle class and the creation of a new aristocracy.

    Face it. Working Americans are increasingly powerless and under the control of the world’s investors. And we all, eventually, are going to suffer for it.

    Chuck Kelly is a retired management consultant living in Burnsville, and is author of “The Destructive Achiever; Power and Ethics in the American Corporation, and Farewell Fantasyland; Time for Economic and Political Reality.” He can be reached at cmk@farewellfantasyland.com.

  • All power to investors

    Feel free to download this material for personal, not-for-profit, use. If you duplicate it for others, attribute it to Charles M. Kelly, and with a link to this site. Print copies are still available at Amazon and Barnes & Noble, and used copies are widely available on the internet.

    7.

    All Power to Investors;

    Absolutely None for Workers 신용카드현금화

    If lying is a sin, most Republicans are surely going to hell—for saying that unions are bad for workers. They deliberately distort reality when they claim that union members are worse off than nonunion because:

    1.Union members have to pay their own money (dues) to the unions that represent them.

    2.Union leaders are interested only in their own incomes and not in the workers’ welfare.

    3.Union dues are used to support political candidates that some members may not support.

    4.Workers would lose their “right to work” if they had refused to join a union in the first place.

    Of course, it is true that: 신용카드현금화

    1.Union members pay dues. They have to because it costs money to protect the interests of workers—to hire lawyers, gain public support, research the issues, finance a strike, etc. Whereas companies have almost unlimited resources to fight against the interests of workers—unions have virtually no financial resources to defend their interests, except for dues.

    2.It’s unfortunate, but true: Some union leaders are selfish and interested only in their own welfare. But the same can be said about executives in corporations, officers in the military and clergymen in the church. Any large human organization is going to have corrupt persons in it. But still, unions are the only organizations specifically dedicated to protecting the interests of workers.

    3.It’s also true that union dues are used to support specific political candidates. If workers’ interests are to be represented in Congress, even a little bit, funds must be raised to fight the conservative politicians that free-spending corporations have already bought off.

    4.When all workers in a company must join a union because the majority voted for its representation, it doesn’t mean that some workers lose their “right to work.” It just means that the lackeys of management who don’t want to pay union dues—yet, by law, still receive all the benefits of a union—lose the right to destroy their coworkers’ collective bargaining power.

    If working Americans don’t have collective power, they have no power. Because of conservative anti-labor legislation and the appointment of conservative judges to the courts, American corporations have been able to ensure that there is always a supply of hungry unemployed workers who will sabotage the efforts of those who have guts enough to unite and demand something more than a poverty wage. 신용카드현금화

    The only reason working Americans experienced wage growth and improving working conditions from the late 1930s to the mid-1970s was that they had power. The increase in wages during those good years were not:

    §The result of a growing economy (which we also have had for the past 20 years of stagnating wages).

    §The result of growing productivity (again, which we also have had for the past 20 years).

    §The result of increasing work skills (workers also have been developing their skills over the past 20 years).

    §The result of low taxes on the wealthy (to the contrary, taxes on the wealthy from the 1930s and prior to 1982 were thehighest in our nation’s history).

    It’s only because working Americans had power between the mid-’30s and the mid-’70s, that they were able to form strong unions and, as a result, had significant clout with Congress. Through legislation, unions were able to get the 40-hour workweek, the 8-hour workday, overtime pay, medical insurance, pension benefit protection, and a host of safety protections in the workplace—for all workers, nonunion as well.

    Even today, after 20 years of Republican attacks on unions—and their resulting declining power—union members still make more money than nonunion workers. According to the Bureau of Labor Statistics, in 1998 union members’ total compensation in private industry was $23.59 per hour; non-union workers was just $17.80.1What makes these figures even more significant is that the incomes of non-union workers would be even lower than they are nowif it were not for the upward pressures that unions exert on all wages.

    For the real reasons financial conservatives are against unions, read the following pages. Their own words, in their most prestigious conservative financial publications, prove beyond any doubt that

    §unions protect their members from the predatory instincts of investors and corporate executives, and

    §unions cause the wages and working conditions to improve even in nonunion corporations and businesses. 신용카드현금화

    Street Journal lived up to professional journalism standards when it accurately described the deteriorating and unsafe job conditions for truck drivers, and why “Trucking Firms Find It Is a Struggle to Hire And Retain Drivers”:

    What caused truck drivers’ work lives to deteriorate, trucking executives say, is cost-cutting forced by intense competition. After deregulation opened truck routes to new entrants in 1980,carriers turned to cheaper, nonunion drivers and employed no-frills trucks.5

    Compare these three articles with the previous Wall Street Journal editorial:

    §Even Business Week recognized that when unions have power they can cause an “upward push on wages to gel among workers generally.” In other words, even nonunion workers benefit from unions.

    §The ultra-conservative Fortune considered union jobs to be “lucrative.”

    §Again, note that “union settlements” created upward pressures on “nonunion shops.” As unions lost their power, and became less of a threat to nonunion employers, those employers felt less pressure to pay their own workers “more or less equally.”

    §And what caused the truck drivers’ lives to “deteriorate”? Companies destroyed their unions. When workers lose their collectivepower—pay, working conditions, safety, you name it—it all deteriorates. If companies can save money by pitting individual workers against each other, no matter how unfair or immoral, they’ll do it. If a class of worker is getting decent pay (union drivers)—then corporations will abandon them for whoever is desperate enough to work for less (nonunion drivers).

    This deterioration in moral standards has been a conscious conservative strategy: Destroy workers’ power to collectively bargain—and, as Business Week explained under the head “Sweeney’s Blitz,” get at least two decades of wage stagnation and heightened inequality: 신용카드현금화

    Today, though, workers may be receptive to labor’s renewed message, coming as it does aftertwo decades of wage stagnation and heightened inequality. In the 1980s, for example, the 10-year average earnings of the bottom fifth of male wage-earners plunged by 34%.Now more than half of families say two members must work to make ends meet. And constant downsizing has chewed away at pay and job stability, even among professionals.…

    If unions do regain power, Corporate America is certain to feel the squeeze. With just a tenth of private-sector employees in unions today, most employers have had a free hand to hold down labor costs. Reunionization would force up pay and benefits, which typically are 20% higher among union members.…

    Globalization and the growth of services, too, will continue. Employers still have the upper hand in most unionization battles.6

    In a rather comprehensive and succinct way, Business Week here summarized why conservatives hate unions, why conservative politicians enact anti-union legislation and appoint anti-worker judges to the courts, and what these actions have resulted in:

    §Corporations and businesses have been able to achieve two decades of wage stagnation and heightened inequality.

    §In our glorious Reagan ’80s, the 10-year average earnings of the bottom fifth of male wage-earners plunged by 34%.

    §More than half of families say that two members must work to make ends meet.

    §Constant downsizing chewed away at pay and job stability, even among professionals.

    §A flat-out admission: Corporate Americawas able to achieve these feats by, among other things, taking away union power—they’ve had a “free hand to hold down labor costs.”

    §Another F.O.A. (flat-out admission): If workers could unionize, it would force up pay and benefits, which typically are 20% higher among union members.

    How clear can it be? The future of workers’ pay, benefits and working conditions depends upon who controls our government: Anti-worker Republicans and conservative Democrats, or liberalDemocrats and independent Populists. As usual, it’s all about money and power, and right now Republicans and conservative Democrats have almost all of it.

    Those who fail to appreciate the degenerating effects of anti-unionism should look at the new conservative model for capitalism as described by The Wall Street Journal under the head “Threat of Cheap Labor Abroad Complicates Decisions to Unionize”: 신용카드현금화

    “You all knew what the job paid when you applied for it,” Edward Hakim, president and co-owner of Monroe Manufacturing Corp., reminds about 200 workers—almost all earning around the minimum wage of $4.25 an hour—gathered on the plant floor. “There are no chains on your legs. You can go. Go ahead.”

    Silence. Some look down. One woman, sitting at her machine, gnaws nervously on her knuckle. No one budges. “Listen,” Mr. Hakim continues, “if I can’t compete in America with American workers, I’ll take your jobs overseas where we can be competitive!”7

    The Journal went on to report that Monroe Corporation was able to gain market share by underpricing its competitors, who were mostly unionized and offered workers health plans, pensions, and unbelievably high wages of $7 to $9 an hour. In addition, Mr. Hakim told his workers that if they ever struck they would be permanently replaced, that the union was racist (the work force is predominantly black) and that his company was bankrupt.

    But in an interview, Mr. Hakim said that Monroe was “strongly profitable, virtually debt-free,” and that millions spent on new machines in the past two years “came straight out of profits.”

    When Republicans and conservative Democrats create conditions where workers cannot unionize—or if they are unionized and have no power:

    §Workers must “agree” to whatever pay and working conditions our modern barbarians offer.

    §The recurrent threat, and the theme of the last two decades: “I’ll take your jobs overseas where we can be competitive!” Of course, “competitive” means that workers must compete (by sacrificing their incomes)—so that business owners and corporations can have outrageous profits.

    §The conservative principle: Enable the barbarians to destroy work standards and pay levels, and thus lower costs for everyone. His “lower costs” force moral competitors to do the same or they lose market share and, eventually, go out of business. Result: Conditions and pay for all workers deteriorate.

    §There are nomoral restrictions on employers when they resist the efforts of workers to bargain collectively. Employers can threaten them with the loss of their jobs (“permanently replaced”), they can lie about the union being racist, and they can lie about their own financial condition.

    §And the owner’s increasing millions that came “straight out of profits” are irrelevant to workers’ low pay and deplorable working conditions.

    Lack of union power always results in lower wages and worse conditions for working Americans. Another Journal article, under the head “With Housing Strong, Builders Often Find Skilled Help Lacking,” reported that

    But during the 1970s and 1980s, those traditions [well-paid construction jobs] began eroding as major corporations and other customers, in a quest for lower building costs, awarded more jobs to non-union contractors. 출장마사지

    As unions’ market share dwindled, cutthroat competition among such firms drove down wages. In some regions, especially the right-to-work Southwest, construction wages fell even further for experienced workers, into the $12-to-$15-an-hour range with no benefits.

    By last year, even the Associated Builders and Contractors, whose members are primarily nonunion, was sounding the alarm. In one newsletter, Mr. Bennett, the trade group executive, wrote that many construction workers could no longer afford homes or health insurance.… “When you squash down, year after year, on wages, you don’t attract a good person into the industry,” he observes.8

    Although the subject here was union versus nonunion, remember the issue that is always in the background: The workers who lost jobs in manufacturing immediately become competitors for construction jobs, especially the nonunion jobs. Conservatives are pitting worker against worker from manydirections. It’s automatic:

    §As unions’ market share dwindles, cutthroat competition becomes the norm and the downward spiral of wages is assured. Workers at nonunion companies see that union sympathizers are fired with impunity, and there are plenty of workers who are desperate enough to work without a union contract.

    §This excerpt is a classic illustration of why Republicans love “right to work”laws. Wherever unions are weak, employers have virtually all of the power. Even experienced workersmust compete with each other for the constantly lowering levels of pay and benefits, or no benefits.

    §Conservatives sometimes go too far. In this case, even nonunion construction workers began to lose their enthusiasm for work when the pay was so low that they could “no longer afford homes or health insurance.”

    §What an admission: The people who loudly proclaim that unions are bad for workers are the same ones who cynically “squash down, year after year, on wages” when they know workers are defenseless.

    Under the head “Inequality,” England’s prestigious conservative financial publication, The Economist, gave its analysis of why the rich got richer, and the poor got poorer in the ’80s:

    All countries have been buffeted by the forces of changing technology and stronger global competition. So why should wage differentials in most of continental Europe have changed by much less?

    The answer is that deregulation in America and Britain has allowed market forces to do their work, whereas in continental Europe powerful trade unions, centralized wage bargaining and high minimum wages have propped up the wages of the low-paid.

    Indeed, pay differentials narrowed through the 1980s in western Germany, where trade-union membership has held steady at around 40% of workers over the past 20 years; in America, membership has fallen from 30% to 12% since 1970. A study by Richard Freeman of Harvard University confirms that, in general, wage inequalities are smallest in highly unionised countries.9

    Again, a conservative publication tells us that global “free trade” and weakened unions are major reasons for the income and wealth disparity between the rich and everyone else. A “lightly regulated labour market” means that the government has given corporations the freedom to ruthlessly control wages and working conditions.

    Republicans have convinced working Americans that the biggest reason they are losing the race with inflation is that the government is taxing them too much. It’s true that conservatives have shifted the tax burdens from the rich to middle- and low-income Americans.

    But, as The Economist points out:

    §The majorreason for the wealth disparity between rich and poor is“wage differential.” Not surprisingly—and despite Republicans blaming the financial problems of the poor- and middle-class on taxes—income is the primary determinant of financial health. 출장마사지

    §“Market forces doing their work” in America and Britain means that conservative politicians passed laws that gave corporations the power to relentlessly control those forces.

    §The governments in continental Europe, on the other hand, allowed workers to organize (“powerful trade unions”), to bargain collectively (“centralized wage bargaining”), and to insist on “high minimum wages” for workers.

    §Want more proof that unions help minimize income and wealth disparity? The Economist gives it, via Harvard University: “Wage inequalities are smallest in highly unionised countries.”

    Today’s Union Members

    Look at who’s organizing today. Under the head “Joe Hill Takes On Joe College,” Business Week noted that college professors and students are “feeling squeezed” and are turning to unions:

    And as old definitions of teacher and student change, profs and grad students alike are turning to unions for help in keeping up salaries and benefits and negotiating job security. About 40% of all faculty are organized today, up from about a third in 1982, making higher education a key growth area for white-collar union organizing.…

    So far, most of the activity has occurred at public universities, where state laws make unionization easier. Now, the trend could spread to private universities as well—at least among graduate students (federal law largely prevents unionization by professors at private universities).10

    The Wall Street Journal also cited a traditionally conservative group that experienced a surprising change of heart in its attitudes toward unions. Under the head “Doctors’ Union Interests Become a Spreading Syndrome,” the Journal described how some of the most powerful professionals in the country suddenly found collective power to be necessary:

    About 2,100 doctors, part of doctor-owned MDNY Healthcare Inc. on New York’s Long Island, affiliate with the Office and professional Employees International Union, which already represents 8,000 podiatrists in Northeastern states.

    “There’s no doubt that physicians’ interests in unions are rising across the country,” says Dr. William Mahood, a trustee of the American Medical Association.11

    The new conservative values of corporations—greed and materialism, to the exclusion of virtually all other values—have only one antidote: employee collective bargaining power:

    §In universities, the administrators, athletic coaches, and funded “stars” get unending raises in their incomes. On the other hand, those who do the intended work of the university, professors and grad students, must turn to unions to protect their “salaries and benefits and job security.”

    §Whether or not anyone can organize depends upon the laws in effect. Right-to-worklaws and the “federal laws governing private universities” are conservative tools to destroy collective bargaining rights, and to give all the power to investors and their administrators.

    §Doctors—traditionally a very conservative group—are beginning to see how the philosophy of greed and materialism will impact their professional standards. At this point, doctors’ concerns appear to be less about wages than about doing the work of their profession. They are finding out that when cost cutting becomes the dominant criterion of managers and their investors, profit becomes more important than the original purpose of the organization.

    In both cases—professors and doctors—the ones who are committed to doing the intended work of the organization are the ones who must make all the sacrifices. Those who profit most are those with the power: administrators, bosses, and investors. 신용카드현금화

    America’s Third-World Values

    It’s a shame what has happened to our country. The U.S., traditionally a leader in the moral treatment of workers, is now the world leader of greed and materialism. The Wall Street Journal inadvertently highlighted what is happening as the United States sells-out its workers. Under the head “In Employment Policy, America and Europe Make a Sharp Contrast,” it explained that “U.S. spawns jobs, but often ill-paid; Germany offers high pay, few openings”:

    Although there are poorly paid workers everywhere, only the U.S. tolerates having millions of its people accurately classified as “the working poor.” On the other hand, chronic unemployment is an enormous problem in Europe but less of one in the U.S.

    Thus, in confronting a common problem—waning demand for low-skilled workers—the U.S. and Continental Europe have responded in very different ways.

    The U.S. creates lots of jobs. But by weakening unions and failing to adjust the minimum wage for inflation, it has allowed the wages of those at the bottom to fall. The result is companies that are more globally competitive, but also a widening gap between rich and poor and an uncomfortably large number of workers living in or near poverty.12

    Continental Europe is now the defender of the values of fairness and justice for workers, and the United States has become one of its major anti-worker antagonists:

    §The Journal subhead, “Spawns jobs, but often ill-paid; Germany offers high pay, few openings,” indicates that Germany and Continental Europe are losing the “jobs war.” Does that mean that the U.S. is doing it right?

    §No, the opposite is true: The United States is the one that sold out its workers. The U.S.—along with such morally principled countries as Indonesia, Guatemala, Mexico, China, Haiti, and other Third World countries—undercut the moral positions of the governments of Germany and Continental Europe in order to rob them of their exportable jobs.

    §It’s the same old story: Immoral businesspersons—or countries—will drive moral persons, or countries, out of the job market. When greed and materialism are the only criteria, anything goes. Those who most brutalize workers get the jobs.

    §The Journal’s observation that “By weakening unions and failing to adjust the minimum wage for inflation, (the U.S.) has allowed the wages of those at the bottom to fall”—isn’t the half of it. Republicans and conservative Democrat politicians deliberately caused wages to fall! And destroying unions was a significant part of their strategy.

    Although President Clinton has, by and large, betrayed his populist supporters, in some cases “The White House” has attempted to defend the rights of working Americans against the Republican onslaught. It proposed new rules that would allow the government to reject contract bids from companies with unsatisfactory employment practices, and would bar the government from reimbursing contractors for the costs of fighting off union organizing drives. The Wall Street Journal reported that the “White House Plans Rules for Firms To Protect Unions”:

    In a nod to organized labor, the Clinton administration will issue new guidelines requiring companies doing business with the government to maintain good relations with their workers and the unions that represent them.… 신용카드현금화

    At the U.S. Chamber of Commerce, Jeffrey H. Joseph, vice president for domestic policy, said the new rules almost certainly would raise the ire of congressional Republicans. “Obviously, the Congress is not going to stand still for this kind of stuff,” he said. “It’s just like trying to hang out a red flag in front of a bull.”13

    Working Americans should read The Wall Street Journal every day. It’s a textbook illustration of conservative propaganda techniques, and it clearly describes which politicians actually fight for their rights. According to the Journal:

    §Protecting workers is never “protecting workers,” it is a “nod to organized labor.” This automatically leads the reader to react emotionally to union “bosses,” dues, and all the other phony distractions that have been created by the Republican right wing.

    §Do congressional Republicans believe that companies shouldbe able to have an unsatisfactoryrecord of employment practices—and still get government contracts? Of course they do.Because then, unscrupulous businesses, by ruthlessly cutting labor costs, will either get allthe government contracts, or they will drive down wages generally. Either way, our richest citizens will save on taxes and wages—and the only persons to suffer will be the workers.

    §The Journal and the Republicans not only want to allow unscrupulous businesses to get government contracts, they want to have the government finance their fights with the unions!

    One would think that the massive leverage corporations now have over unions would allow them to relax a bit their hell-bent single-minded urge to totally destroy them. Sadly, not so. In a commentary for Business Week, Aaron Bernstein updated the 1999 conditions for union certification, and explained why “unions only win half the elections held at private companies, but are voted in 85% of the time by public-sector employees”:

    What is the probable cause? The increasing use of antiunion tactics by private employers. According to analyses of data from the National Labor Relations Board (NLRB) by labor researcher Kate Bronfenbrenner of Cornell University, companies are increasingly using every weapon—legal or not—to thwart attempts to organize their workers.

    A third of the companies in the NLRB study illegally fired union supporters during elections, Bronfenbrenner found. That was up from a mere 8% in the 1960s. Half threatened to close facilities if the union won…14

    American corporations have found—after over 20 years of conservative legislation and the appointments of conservative judges to the courts—that present pro-labor laws have no teeth, and the courts are decidedly biased in favor of business. The penalties for firing union sympathizers are incidental and quite affordable, and the new free trade laws allow them to threaten workers with impunity. 신용카드현금화

    Even with their severely reduced power, unions are still feared by America’s conservatives—and their publicly stated fears prove the positive effects that unions still have on workers’ lives. In September, 1999, Barron’s was still warning its readers about how unions might increase wages:

    Then there are the recent rumblings on the organized labor front. After years of defeat and paltry wage gains, some unions are winning hefty pay increases, raising the specter that our historically tight employment markets may finally cause wage inflation.

    In one marquee-caliber victory, machinists at Boeing won a 10% bonus and annual salary increases of 4% for two years and 3% in the third year. In another, Northwest Airlines offered flight attendants pay raises averaging 25% over five years and an average 80% boost in pension benefits.15

    The articles quoted in this chapter represent a tiny fraction of hundreds of similar articles that explain why the Fed doesn’t have to raise the prime interest rate to keep wages from going up. In almost every case, the weakening of unions is listed as a major cause of wage stagnation and the deterioration of worker protections—and the record corporate profits—for the past 20 years.

    While conservatives delight in their victory over American workers, they are often remarkably frank in admitting the unfairness of it all—“years of paltry wage gains.” They chalk it up to the nature of free markets, totally ignoring the fact that they strictly control those markets.

    Despite the fact that conservatives and their corporations have gained overwhelming power over unions, our “family values” Republicans in Congress continue to attempt to further weaken the power of workers to collectively bargain for fairer pay and more humane working conditions.

    Now it’s time to look at the results of the conservative attacks on working Americans that were described in this and the previous six chapters: the victimization of American workers.

  • A rising minimum wage benefits everyone – well, almost

    From Charlotte resident Chuck Kelly (kellycm2@bellsouth.net), in response to George Will’s column in Sunday’s Observer opposing a minimum wage hike:

    Many low-wage Americans have been suckered by the Republican divide-and-conquer strategy. Skilled low-wage workers making $18 an hour – such as emergency medical technicians, mechanics, and low-level managers – unwittingly ally themselves with the top 1 percent when they complain that raising the minimum wage to $15 an hour for less-skilled workers is unfair to them. 출장마사지

    They fail to appreciate the fact that, throughout our history, a rising minimum wage has always led to better wages for those higher on the economic ladder as well. This is the dreaded “wage inflation” phenomenon that the conservative news media warns us will destroy the economy. Actually, its main effect is lower corporate profits, lower incomes for executives and investors, and much greater purchasing power in the hands of the middle class and poor.

    In fact, wage inflation was one of the reasons we created the world’s biggest middle class between 1941 and 1980. The income and wealth of the ultra-rich didn’t reach today’s stratospheric levels, but rising low- and middle-class wages gave us a thriving economy. When Republicans brag that President Reagan stopped inflation in the 1980s, they’re not referring to stock market inflation or investor income inflation. They’re referring to wage inflation.

    Behind the premise that working class Americans are overpaid is the assumption that they don’t deserve to make enough money to own a home, have two cars, be able to take a vacation once a year, and finance their kid’s education at a state university. That’s only for those “successful” persons who don’t have to rely on manual labor for a living – corporate executives, business owners, investors, athletes, actors, physicians and so on.

    The Republican blame-the-victim strategy is working beautifully for them, despite documentation of their efforts to destroy the ability of union or public sector workers to negotiate for decent wages. In an unguarded moment, Wisconsin Gov. Scott Walker was videotaped explaining to one of his wealthy donors how he was going to “divide and conquer” the labor movement.

    His strategy: get nonunion and private sector workers to resent – and politically oppose the interests of – higher paid union and public sector workers. This was easy to do because of a bad economy, and distressed unemployed or underemployed workers were seeking someone to blame.

    Gov. Walker also was conned into believing he was in a phone conversation with David Koch, a donor to his political campaign. He was recorded saying that his attack on unions was part of his ideological battle and it had nothing to do with his publicly stated reason for balancing the state budget. Walker even said he had considered planting troublemakers to disrupt the protesters in his state capitol. 출장마사지

    Republicans, and even some Democrats, have successfully diverted the blame for our degenerating economy. They say that our stagnant or declining wages aren’t the result of the huge tax cuts for the wealthy and their role in causing the exodus of our industries to low-wage countries. The cause of our national malaise, they say, is those darn high-paid low-wage workers, who used to make enough money to pay taxes.

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  • A look at vultures, socialists | The Asheville Citizen-Times

    Holman Jenkins, Wall Street Journal editorial board member, described President Obama’s economic views in terms of two equally extreme beliefs about creating jobs. “Mr. Obama’s simpler story” is one in which “… ravenous capitalists destroy jobs and government creates them with things like the Detroit/UAW bailout … Seoul Massage

    Thus, Jenkins cited two scenarios, neither of which Obama — or anyone else — considers desirable. First, one can believe in capitalism and still recognize the fact that vulture capitalists destroy jobs. And second, government’s primary economic role isn’t to create jobs, but that doesn’t mean that its policies can’t stimulate job creation.

    In fact, unregulated vulture capitalism created the need for “corporate socialism.” When our economy was sensibly regulated, unprincipled corporations didn’t have a competitive advantage over ethical ones, and the financial sector took only 6 percent of the Gross Domestic Product for its services. Today, the financial industry demands closer to 40 percent of the GDP, and much of what it produces are speculative derivatives and not actual products and services.

    The degeneration of the auto industry was the result of free-market vulture capitalists who successfully lobbied government to make radical changes in industrial policy. By deregulating international trade, government empowered corporations to pit American workers against workers in the developing world with low wages and few or no worker protections. There is no way U.S. autoworkers could compete with workers making one-tenth as much and who work under brutal conditions.

    Corporate socialism was never a goal of Obama or his government. However, against serious opposition, Obama enabled the industry to survive and create jobs by infusing it with necessary funds. Unfortunately, however, it has only been through draconian reductions of wages that the auto industry has been reinvigorated in the U.S. In effect, the vulture capitalists have achieved their hidden agendas: stagnant or declining incomes for American workers and increased corporate profits.

    Capitalism didn’t create the middle class by itself, and it didn’t create the savings and loan disaster of the ’80s or the 2008 economic meltdown. So, what is Obama’s story? It’s an economy in which government establishes regulatory, fiscal and monetary policies in a way in which capitalism benefits all levels of society — and predatory capitalists don’t enjoy competitive advantages over capitalists who value the moral standards of a civilized nation.

  • A Lesson on Tax Policy

    Scary Deficit Forecasts For Clinton YearsFade As Tax Revenue Grows

    It Rises Faster Than Outlays, Thanks to ’93 Budget BillAnd a Steady Economy

    Where has the federal deficit gone? 출장마사지

    When Bill Clinton was elected president four years ago, the government was hemorrhaging red ink at a rate of almost $300 billion a year, and forecasters saw little improvement in the offing. Today, his budget office estimates the fiscal 1996 deficit at just $117 billion—the lowest in dollar terms since 1981, the year Ronald Reagan took office.

    Measured as a share of the total economy, the U.S. deficit this year will run only about 1.6%—smaller than the deficits of Japan, Germany, Britain or, indeed, any of the world’s advanced nations except Norway.

    Clearly, a stronger-than-expected economy has a lot to do with it. The tax increases in the 1993 deficit-reduction package that Mr. Clinton pushed through get credit as well. And, to a lesser extent, so do the spending cuts engineered by the Republican Congress…

    For the current fiscal year, ending Sept. 30, collections now are expected to be $97 billion higher than the $1.356 trillion the Congressional Budget Office projected 3 ½ years ago as Mr. Clinton was taking office. That is about 7% more.

    By the CBO’s analysis, just over half of the $97 billion increase beyond projections is due to tax boosts in Mr. Clinton’s 1993 antideficit plan. The rest is due to a variety of factors.

    —WALL STREET JOURNAL, August 1, 1996, A1.

    (Note: For the deficit reduction, the Journal gave more credit to Clinton’s tax increases than to the cost-cutting Republican Congress.)

    And another year later—the Journal is still giving credit to “tax-on-wealthy” for the deficit reduction: 출장마사지

    Tax on Wealthy Is Boosting U.S. Revenue Treasury Says 1993 Increase Is Helping Cut the Deficit

    President Clinton sold the 1993 income-tax increase as a way to shrink the budget deficit at the expense of the rich.

    Republican adversaries predicted it wouldn’t generate much revenue because the rich would work less and take bigger deductions. Now there’s growing, if still tentative, evidence that Mr. Clinton may have been right after all.

    The recent flood of revenue pouring into Treasury coffers—enough to push the federal budget to a record $93.94 billion surplus for the month of April—appears to have come mostly from the nation’s biggest earners, indicating that the controversial tax increase may indeed be taking from the rich. “The available data suggest the surge in tax collections has come from the taxpayers with high incomes, who were the only ones affected by the 1993 changes,” says Deputy Treasury Secretary Lawrence Summers.

    Corporate taxes, which were increased modestly under the 1993 law, also have brought in more revenue, but at about the level the Treasury had been predicting…

    The package, part of the 1993 budget agreement, drew harsh criticism from the right. Texas GOP Rep. Dick Armey, who is now the House majority leader, predicted dire results, “Who can blame many second-earner families for deciding that the sacrifice of a second job is no longer worth it?” he wrote…

    “The basic fact is that people looked at the 1993 budget agreement and said there’d be a recession, the deficit would go way up and that tax collections would go way down,” says Mr. Summers. “What has happened is there has been a boom, the deficit has gone way down and tax collections have gone way up.” 출장안마

    —WALL STREET JOURNAL, May 22, 1997, A2.

    Not only was the entire national deficit eliminated after raising taxes on the wealthy in 1993, but the economy grew so fast for the remainder of the decade that many conservative economists thought that the Fed should raise the prime interest rate in order to slow it down.

    This is another of conservatives’ hidden agendas: they keep promising workers that if we cut taxes on the wealthy and the economy grows, their wages will go up. But when wages even start to go up—for whatever reason—conservatives do everything they can to slow down the economy. They never openly tell the public about the second part of their strategy when they discuss taxes, economic growth and wages.

  • ‘We’ aren’t all in this mess together — yet | The Asheville Citizen-Times

    We’re in trouble. Although we’ve added a few manufacturing jobs lately, they’re at 1980 wage levels, and we’re still losing the international competition for industry to developing countries like China, India and Mexico. Our national debt is ballooning to alarming levels. This combination of factors means that our decades of improving living standards are over. It’s time for austerity measures. 출장마사지

    But there’s a problem with those statements. “We” aren’t all in competition with China, India and Mexico. American workers, engineers and scientists are in that brutal competition. Since corporations can now hire cheap foreign labor and ship products duty-free to the U.S., top corporate executives and their investors are doing quite well, thank you. Also, those who were smart enough to use their tax cuts — to create jobs for workers in the developing world — have become overnight millionaires. In fact, their investment successes have contributed to worsening conditions for American workers.

    Americans who are experiencing stagnant or declining wages and are losing their homes are the ones now asked to give up their “entitlements.” The billionaires and millionaires who created our present economic meltdown, or who have simply benefited from stagnant or declining wages for the past three decades, are buying mansions in this country and across the world.

    It’s also not quite accurate to describe our national debt as what “we” owe. Around 40 percent of that debt is what our middle class and poor owe to those Americans who have put their money into ultrasafe U.S.-guaranteed securities instead of “creating jobs.” The rest is owed to future national obligations like Social Security and veteran pension funds or to other countries — the ones we gave our industries to capitalize on their lower labor costs and to put a stop to “wage inflation” in this country. 출장마사지

    Which adds another wrinkle to what’s happening. The U.S. doesn’t exactly owe money to all the citizens of our creditor nations. For example, Chinese workers aren’t the holders of our debt, and any benefits they may receive will depend upon the decisions of the internationally renowned human rights leaders of the Chinese government. The real beneficiaries of that debt are the Chinese billionaires and millionaires who are buying businesses and real estate in this country, Canada or wherever they can acquire a better standard of living.

    Of course, what’s happening in the U.S. is going on all over the world. The same problems plague all developed nations. We’re reaping the results of recommendations made by free-trade economists like Milton Friedman and his “Chicago Boys,” who in the 1980s convinced Reagan, Thatcher and other world leaders that governments were too big, unions were too strong, wages were too high and corporate profits and investor returns weren’t high enough. 출장마사지

    Their anti-government, pro-investor, anti-labor, free-market ideology has taken over the entire Republican Party, but it has infected some Democrats also. President Clinton cooperated with the Republicans to give us NAFTA and to repeal the Glass-Steagall Act. All of President Obama’s chiefs of staff have been millionaires from the financial industry, and he appointed General Electric Chairman Jeffrey Immelt to run his Jobs-Focused Panel. GE is one of the biggest beneficiaries of government handouts and a corporation with one of the worst reputations for outsourcing and anti-labor practices.

    Everyone seems to hate divisiveness, but should it be politically incorrect to point out that there are destructive conflicts of interests in dealing with our economic meltdown? After all, we as a nation will eventually succeed or fail together. Problem is, the top 1 percent, and especially the top 0.001 percent, of the people who control our country don’t seem to realize it.