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Archive for the ‘wealth redistribution’ Category

The Trans Pacific Partnership (TPP) is the largest freely redistributing your income into the pockets of the rich treaty ever signed. It will jack up prices most people pay for pharmaceutical medications, for example. Wall Street Senator’s Ron Wyden, Orrin Hatch, Mitch McConnell and Wall Street President Barack Obama want you to believe that they are redistributing your income and wealth to the rich on your behalf.  The TPP is sitting in congress as we speak, while President Obama is sitting in the White House, anxiously awaiting senate and house approval of the treaty so he can sign the treaty, before more and more Americans realize what a massive “corporate giveaway,” the TPP is, according to US Congressman Keith Ellison. The president wants to fast track this monstrous assault on the American people. Fast track means no debate in congress, just and up and down vote. If there was a debate, word would get out and the American people would be informed as to what the TPP is, even though the so-called corporate press, otherwise and more appropriately known as the corporate propaganda machine, has done its best to keep Americans ignorant of the TPP, which the Guardian newspaper of England calls “NAFTA on Steroids.”

Big Pharma became involved in the negotiations in a big way. 600 corporate lobbyists have been involved in the intensely secret negotiations of the TPP. What has Big Pharma gotten from Obama, Wyden, Hatch, McConnell, not to mention dozens of other Republicans and Democrats, via the TPP?

“It (lobbying) is an investment that appears to have paid off. The TPP is quite friendly to drug manufacturers, strengthening patent exclusivity and providing protections against bulk government purchasing (should it hurt profits). At the behest of the pharmaceutical industry, the U.S. is also pushing to limit the ability of national regulatory agencies to support generic drug development. All of this suggests that the active lobbying has paid off. The result is going to be higher drug prices for the 99 percent, which will be demonstrated with higher Big Pharma profits, which goes to the 1 percent via higher dividends and share prices. Ergo, the TPP is a big income redistribution scam, and not just for Big Pharma. BTW, Big Pharma is already the number one most profitable industry in the United States. Now Wyden and the others want to make it even more profitable, but at your expense.

The more important question is, Why do Hatch, McConnell, Obama, Wyden and many other politicians want you and others around the world to pay for higher drug prices? Oh, that’s right. On the surface it appears that the TPP is all about profits, and Wall Street gains. And that’s true. But it’s even more true that the TPP is about political corruption on the highest levels of government. The current US government has been one of the most corrupt in history, and we’re talking about thirty years of immense political corruption. That’s why the game is rigged against the 99 percent. Wyden is a classic and most obvious example of this corruption.

Now check out the graph below.

Click on the link below for the full story.

How Big Pharma (and others) began lobbying on the Trans-Pacific Partnership before you ever heard of it–The Sunlight Foundation

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Trickle down economics was enacted with the intention to redistribute income from the 99 to the 1 percent. Once the rich received their tax cuts, they used that money to push so-called free trade treaties to ship jobs overseas, and redistribute the difference between the old higher wages in the United States and the new lower wages overseas into the pockets of the 1 percent via higher corporate profits, rising dividends and surging share prices. Ergo, trickle down destroyed American jobs, more than 30 million of them from 1992 to the present, alone.

The figures above go only to 2010. Job losses via free trade increased in 2011-2013, and in the millions. Ergo, free trade scams and China’s most favored nation status have shipped over 30 million jobs overseas since 1992.

Now President Obama and Wall Street Senator Ron Wyden want to redistribute more and more jobs and ensure that Wall Street financial transactions are not regulated via the Trans Pacific Partnership, the biggest corporate giveaway in history, according to US House member Keith Ellison, who opposes it. The treaty will also jack up prices the 99 percent pay on many commodities, such as pharmaceutical drugs, and the difference between the old lower prices and the new higher prices will be redistributed to the 1 percent via higher corporate prices, rising share prices, and surging dividends. I thought free markets and free trade treaties were supposed to bring about lower prices. What’s going on here?

Anybody with half a brain can see there’s a problem here. So why doesn’t Wyden? Is he corrupt or just a “useful idiot” of Wall Street? I’ll give you a hint. The answer is obvious.

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In reality, corporate control of the governments on the local, state and federal levels is really nothing more than control of governments by a parasitic class that continues to use the 99 percent as their hosts as they redistribute our income and wealth to themselves via legislation and control over such politicians as Wall Street Senators Ron Wyden, Mitch McConnell, Orrin Hatch, US Congressmen Earl Blumenauer and John Boehner, presidents Obama, Bush and Clinton, and future candidates, such as Mitt “the Twit” Romney and Hilliary Clinton. That’s precisely why the corporate wing of the corrupt US Supreme Court ruled that corporations are people, and they have a constitutional right to purchase as many politicians as they can.

Of course, along the way they’re destroying the United States, the Middle Class, and the US Constitution, but why would the corrupt corporate wing of the US Supreme Court care about that?

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People below demonstrate against US multinational investment banking firm Goldman Sachs buying into the National Danish electricity supplier DONG in front of the Danish Parliament on January 29, 2014. (AFP Photo / Jeppe Bjoern Vejloe)

“Today, banks like Morgan Stanley, JPMorgan Chase and Goldman Sachs own oil tankers, run airports and control huge quantities of coal, natural gas, heating oil, electric power and precious metals. They likewise can now be found exerting direct control over the supply of a whole galaxy of raw materials crucial to world industry and to society in general, including everything from food products to metals like zinc, copper, tin, nickel and, most infamously thanks to a recent high-profile scandal, aluminum. And they’re doing it not just here but abroad as well: In Denmark, thousands took to the streets in protest in recent weeks, vampire-squid banners in hand, when news came out that Goldman Sachs was about to buy a 19 percent stake in Dong Energy, a national electric provider. The furor inspired mass resignations of ministers from the government’s ruling coalition, as the Danish public wondered how an American investment bank could possibly hold so much influence over the state energy grid.”

Here’s how corrupt the process is; Goldman Sachs may not have been the highest bidder for the electricity company. How can that be?

And here’s something to ponder; then President Bill Clinton signed this legislation to redistribute income from the 99 to the 1 percent. If Hilliary Clinton becomes president, expect her to do more of the same. Of course, President Mitt Romney would be at least as bad.

Click the link below to see how investment banks were enabled to become owners and manipulators of industry.

The Vampire Squid Strikes Again–Rolling Stone Magazine

Danish Prime Minister Helle Thorning-Schmidt addresses the media after the Socialist People’s Party quit the government over the controversial sale of a stake in state-controlled energy group DONG to Goldman Sachs. (AFP Photo / Keld Navntoft)

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“The Walton family is the richest family in America,” US Senator Bernie Sanders asks, “is also the largest recipient of public welfare in America. Should the taxpayers in this country continue to pay welfare to the Walton family?”

One of the panelists is Aparna Mathur of the American Enterprise. She argues that it is the workers of Walmart that receive the public welfare. However, she is plainly stupid, because when the workers receive the public benefits, this allows Walmart management to earn higher profits, rising dividends and increasing share prices. This enriches the Walmart family via public benefits. This is clearly part of the Walmart business plan, and it plainly redistributes income from the workers and the public to the Walmart parasites, who own more wealth than the bottom

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The financial markets are soaring, and this has pushed the US economy into a prolonged slump, what Nobel Prize Economist Paul Krugman calls a “low-grade Depression.” Our low grade Depression has been going on since December 2007, while the financial markets have been soaring since 2009, and this is a simple case of cause and effect.

Jobs are being exported year after year, and the difference between the old US wages and the new lower overseas wages go into the pockets of the rich via higher corporate profits, rising dividends and soaring share prices. The unemployed may get unemployment insurance if they’re lucky. It’s a simple case of income redistribution.

Nearly 2 million jobs were exported from the US in 2013. Jobs are the biggest export product produced in the USA. Between 0.9 and 3 million jobs are exported year after year, according to the Federal Reserve, since just before NAFTA.

That doesn’t count the massive numbers of jobs that are created by US companies overseas, that would normally be created in the USA, and performed by US citizens, in the absence of corporate trade treaties, which are specifically negotiated to redistribute income from the 99 to the 1 percent in exactly this way. The difference between the higher wages that should be paid in the USA, and the lower wages paid overseas, is redistributed into the pockets of the super rich, thanks to corporate trade treaties, such as the looming Trans Pacific Partnership, being pushed by Wall Street President Barack Obama, and Wall Street Senators Ron Wyden, Max Baucus and Mitch McConnell.

Where the jobs have gone–Thingprogress.org

The combined job losses have depleted our tax base for schools, other public services, and the US social safety net. Where has the money gone? Directly into the pockets of the rich, which is why the financial markets are soaring.

The 1 percent have taken their ill-gotten gains and invested much of this newly available cash in the financial markets. The result has been the creation of massive financial market bubbles in the US (and perhaps throughout the world, but that’s beyond the scope of this story).

The Dow Jones Industrial average closed at 15,680.35 on December 26 2013, up from 6547.05 in 2009, a rise of almost 240 percent. Meanwhile, the NASDAQ shot up from 1293.85 on March 2, 2009 to 4156.59 on December 26, 2013, an increase of over 320 percent. Other US financial markets have posted similar gains.

Since these advances in the values of corporate share prices have been caused by income being redistributed from the 99 to the 1 percent via federal legislation, such as corporate trade treaties, the result has been a slacking of demand for goods and services in an already weak economy. That’s because the super rich invest their money with an eye toward redistributing more money from the 99 percent into their pockets, while the 99 percent buy stuff, creating demand for goods and services. That’s how the 1 percent weaken the economy and destroy jobs when they redistribute income to themselves from the 1 percent.

All of this is continually made worse by Republican and Democratic Party hacks, such as President Obama, Republican House Leader John Boehner, and Wall Street Senators such as Ron Wyden and Mitch McConnell. 100 percent of the Republican members of the US congress, and 80 to 90 percent of the Democrats elected to congress and the presidency, as well as the corporate toadies of the insanely corrupt US Supreme Court, are doing the bidding of Wall Street and other billionaires (such as the Koch Brothers) at the expense of Main Street and the nation as a whole.

The financial market bubbles will burst sooner than later, in one to five years. When this occurs, our low-grade Great Depression will become a fully ignited Great Depression. This Depression will make the current US economy look really good, although it is historically awful. The official and deliberately understated unemployment rate will rise beyond 20 percent, and perhaps approach 30 percent. The real unemployment rate, as measured during the original Great Depression, will be between 25 and 40 percent. Interest rates will plummet lower than they are now. Housing prices will collapse. The US ranks right up there with Romania when it comes to child poverty, but we will be challenging Haiti and a few African nations for first place when the financial markets burst. The number of people on food stamps will at least double compared to today.

After the bursting, the Federal Reserve will give out trillions of dollars to rich investors, hedge funds, and investment banks, in order to save the day, and their investments. Of course, Fed officials will say they loaned the money out, although it really will be a permanent loan, like last time. See breakdown-of-the-26-trillion-the-federal-reserve-handed-out-to-save-rich-incompetent-investors-but-who-purchase-political-power–Johnhively.wordpress.com.

However, the Fed’s actions will only make things worse because massive investors already know they are protected from losses by the Fed, and so there are no consequences for their insanely bad investment decisions. That’s precisely why the actions of the Fed will only prolong the misery of the bursting bubble.

The super rich will get bailed out while Main Street will have to suck it up. This means more jobs will be shipped overseas, more cities and towns will go bankrupt due to the exporting of jobs, the excess unemployed and illegal labor will continue to drive wages and salaries down.

However, the Federal Reserve bailout will also mean corporate profits will rise, dividends will shoot up, share prices will expand, and the Ponzi scheme known as the financial markets will continue or stabilize their bubbles. In other words, for 99 percent of Americans, the situation will be quite dire.

One way to cut off the bursting of the bubble at the pass is simply to raise the federal minimum wage from its current pathetic $7.25 per hour to $15 in early or mid 2014, and to $20 by early 2015. The economy can absorb this as easily as it absorbs record corporate profits, year after year, during our low-grade Great Depression, with all of its slack demand for goods and services.

This alone should tell you that prices are not connected to any laws of supply and demand. Instead, prices are largely manipulated by the large corporations, otherwise, prices would be going down with the historically lukewarm demand during these tough times, but prices keep going up, up, and up in defiance of the illegally broken laws of supply and demand. The government is looking the other way as prices of food shoot up. This is another income redistribution scam from the 99 to the 1 percent. The difference between the older prices and the newer higher prices go directly from the wallets of the 99 percent straight into the burgeoning wallets of the super wealthy that have corrupted our government and supreme court.

Some people will foolishly argue that an increase in the minimum wage to $20 will mean increased prices. No, it won’t, at least, no more than is currently the case with manipulated prices. However, even today’s manipulative corporations cannot jack-up prices continuously, although they seem to be able to all the time, whenever they want.

To pay the new minimum wage, most US publicly traded corporations will be forced to dig into their record profits, or their trillions of dollars of retained earnings (estimates are $10-14 trillion worldwide for US companies, and this also tells you how uncompetitive and bloated they are. In other words, they are not competitive at all), in order to pay their employees the higher wages.

From a purely conservative point-of-view, which is the purely conceptualized reality that the US has a competitive, free market economic system despite all the evidence to the contrary, corporate management teams will want to be competitive, just as conservatives want to believe, even in the face of such an overdue rise of the minimum wage.

Therefore, under our current conservative point-of-view, any Neanderthal management team that is dumb enough to increase their prices while their more competent rivals pay their employees the higher minimum wage out of their historically high profits and retained earnings, will go the way of the Neanderthals. It’s that simple. The companies that use their bloated, pent up financial resources in this way will live to fight another day as their Neanderthal rivals go out of business.

Investors, of course, may suffer. They may see their share prices drop temporarily, especially, as competition heats up, as corporations use up their record retained earnings, and have to contend with lower profit margins, like in any competitive economic model. However, this will bring the financial markets down much more gently than compared to a bursting bubble that awaits us in the absence of any federal intervention.

Since the bubbles have been created by redistributing money from the 99 percent to the 1 percent, it stands to reason the best antidote to such an approaching disaster is for corporate royalists to give the money back to those to whom it really belongs; the 99 percent. This can most easily and prudently be done by raising the federal minimum wage to $20 per hour over the next year and a half.

That $10 to $14 trillion US corporations are sitting on can be used to pay US citizens, which will then increase the demand for goods and services, and send the US economy into its first long-term non-bubble economic expansion since the 1960s.

Recent studies show increasing the minimum wage beefs up demand, increases employment, and that there are no negative consequences as is claimed, like job losses. Besides, an increased minimum wage is what our weak economy needs right now. And given record corporate retained earnings and record profits, the economy can easily absorb the higher wage. Enhanced demand will create good paying jobs, flood local tax bases with more income for schools and the social safety nets, safely deflate the financial market bubbles, and in the process perhaps head off the coming Great Depression, and likely even end our current low grade Depression. Furthermore, the 1 percent will have less money with which to corrupt government at all levels, and, by the way, the political markets are another area in which the 1 percent use their ill-gotten gains to invest in legislation against the 99 percent. That does create jobs for corporate lobbyists. So the 1 percent will have less money to do that little thing. So let’s do the obvious thing; raise the minimum wage to $20 an hour.

The legal and logical difference between an owner operated business and a business structured on “organized money” (a limited liability corporation) is as obvious as the difference between a single worker and a large labor union.

Therefore, one last thing needs to be mentioned. There is always somebody who will say raising the minimum wage to $20 an hour will kill small mom and pop businesses. Conceded, those are mostly businesses that operate in something that kind of resembles a competitive business environment. Those businesses should be allowed to operate with a minimum wage of say, $$12-15 an hour. However, since limited liability corporations are nothing more than “organized money,” as FDR accurately put it, and since they operate in a more collusive environment, those corporations are a totally different animal from owner operated companies, and should be made to pay the $20 minimum wage, which should also be indexed to inflation.

The government will always pass legislation that redistributes income from the 99 to the 1 percent, leading the nation into absolute disaster. So brace yourself for the looming economic disaster, just like the 1930s, only worse. One thing can be stated with great certainty. The rich have corrupted our government and have been leading us down the road of an unimaginable economic disaster for over thirty years, just like they did back in the 1920s.

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From Oregon Fair Trade

The economic game in the war against the middle class is about to become more rigged than is currently the case, and the game has been increasingly rigged over the last thirty years. The latest and most vicious assault against the American people is being led by Wall Street President Barack Obama, Wall Street Republican House Speaker John Boehner, and Wall Street Senators Ron Wyden and Mitch McConnell. All of these folks are veteran class warriors that wage war against the middle class on behalf of Wall Street’s investor class. The 1 percent has used the tax cuts they’ve received over the last thirty years to turn the Federal government and the US Supreme Court into cesspools of corruption. The people above exemplify this corruption.

According the Citizen’s Trade Campaign,

“This month marked the four-year anniversary of the Obama administration’s closed-door attempts to complete the Trans-Pacific Partnership (TPP) Free Trade Agreement. Please tell Congress four years of secretive negotiations is more than enough.

The administration missed yet another self-imposed deadline for completing the negotiations in Singapore in the beginning of December because it has been pushing the wrong agenda from the start.

Leaked TPP documents first published by Citizens Trade Campaign (CTC) two years ago — and more recent documents published by WikiLeaks and the HuffingtonPost — reveal that the administration is demanding TPP provisions that threaten family-wage jobs, a healthy environment, financial stability, access to life-saving medications, consumer safety and family farms at home and abroad. And now the administration is even urging Congress to pass “Fast Track” legislation that would enable the TPP to circumvent ordinary Congressional review, amendment and debate procedures.

Fast Track Is Coming in Early January — Action Needed Now Over the Holiday Congressional Recess

Senate Finance Committee Chair Max Baucus and House Ways & Means Committee Chair David Camp are expected to introduce their Fast Track bill as soon as Congress reconvenes in early January. The White House recently had a full cabinet meeting to discuss how the entire administration will be pushing the bill, and corporate lobbyists are not taking the holidays off either. They’ve already begun their full court press.

It is critical that we take advantage of the week and a half before the bill’s introduction to continue pressing members of the U.S. House of Representatives especially to oppose Fast Track. If you live in Rep. DeFazio or Rep. Schrader’s district, now is the time to thank them for speaking out against Fast Track. If you live in Rep. Blumenauer or Rep. Bonamici’s district, please call their D.C. office and thank them for expressing concern over Fast Track and urge them to go further by publicly opposing Fast Track. Call Now! U.S. Capitol switchboard at 1-202-224-3121.”

——————————————————————————–

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The financial markets are soaring, and this has pushed the US economy into a prolonged slump, what Nobel Prize Economist Paul Krugman calls a “low-grade Depression.” Our low grade Depression has been going on since December 2007, while the financial markets have been soaring since 2009, and this is a simple case of cause and effect.

Jobs are being exported year after year, and the difference between the old US wages and the new lower overseas wages go into the pockets of the rich via higher corporate profits, rising dividends and soaring share prices. The unemployed may get unemployment insurance if they’re lucky. It’s a simple case of income redistribution.

Nearly 2 million jobs were exported from the US in 2013. Jobs are the biggest export product produced in the USA. Between 0.9 and 3 million jobs are exported year after year, according to the Federal Reserve, since just before NAFTA.

That doesn’t count the massive numbers of jobs that are created by US companies overseas, that would normally be created in the USA, and performed by US citizens, in the absence of corporate trade treaties, which are specifically negotiated to redistribute income from the 99 to the 1 percent in exactly this way.

Where the jobs have gone–Thingprogress.org

The combined job losses have depleted our tax base for schools, other public services, and the US social safety net. Where has the money gone? Directly into the pockets of the rich, which is why the financial markets are soaring.

The 1 percent have taken their ill-gotten gains and invested much of this newly available cash in the financial markets. The result has been the creation of massive financial market bubbles in the US (and perhaps throughout the world, but that’s beyond the scope of this story).

The Dow Jones Industrial average closed at 15,680.35 on December 26 2013, up from 6547.05 in 2009, a rise of almost 240 percent. Meanwhile, the NASDAQ shot up from 1293.85 on March 2, 2009 to 4156.59 on December 26, 2013, an increase of over 320 percent. Other US financial markets have posted similar gains.

Since these advances in the values of corporate share prices have been caused by income being redistributed from the 99 to the 1 percent via federal legislation, such as corporate trade treaties, the result has been a slacking of demand for goods and services in an already weak economy. That’s because the super rich invest their money with an eye toward redistributing more money from the 99 percent into their pockets, while the 99 percent buy stuff, creating demand for goods and services. That’s how the 1 percent weaken the economy and destroy jobs when they redistribute income to themselves from the 1 percent.

All of this is continually made worse by Republican and Democratic Party hacks, such as President Obama, Republican House Leader John Boehner, and Wall Street Senators such as Ron Wyden and Mitch McConnell. 100 percent of the Republican members of the US congress, and 80 to 90 percent of the Democrats elected to congress and the presidency, as well as the corporate toadies of the insanely corrupt US Supreme Court, are doing the bidding of Wall Street and other billionaires (such as the Koch Brothers) at the expense of Main Street and the nation as a whole.

The financial market bubbles will burst sooner than later, in one to five years. When this occurs, our low-grade Great Depression will become a fully ignited Great Depression. This Depression will make the current US economy look really good, although it is historically awful. The official and deliberately understated unemployment rate will rise beyond 20 percent, and perhaps approach 30 percent. The real unemployment rate, as measured during the original Great Depression, will be between 25 and 40 percent. Interest rates will plummet lower than they are now. Housing prices will collapse. The US ranks right up there with Romania when it comes to child poverty, but we will be challenging Haiti and a few African nations for first place when the financial markets burst. The number of people on food stamps will at least double compared to today.

After the bursting, the Federal Reserve will give out trillions of dollars to rich investors, hedge funds, and investment banks, in order to save the day, and their investments. Of course, Fed officials will say they loaned the money out, although it really will be a permanent loan, like last time. See breakdown-of-the-26-trillion-the-federal-reserve-handed-out-to-save-rich-incompetent-investors-but-who-purchase-political-power–Johnhively.wordpress.com.

However, the Fed’s actions will only make things worse because massive investors already know they are protected from losses by the Fed, and so there are no consequences for their insanely bad investment decisions. That’s precisely why the actions of the Fed will only prolong the  misery of the bursting bubble.

The super rich will get bailed out while Main Street will have to suck it up. This means more jobs will be shipped overseas, more cities and towns will go bankrupt due to the exporting of jobs, the excess unemployed and illegal labor will continue to drive wages and salaries down.

However, the Federal Reserve bailout will also mean corporate profits will rise, dividends will shoot up, share prices will expand, and the Ponzi scheme known as the financial markets will continue or stabilize their bubbles. In other words, for 99 percent of Americans, the situation will be quite dire.

One way to cut off the bursting of the bubble at the pass is simply to raise the federal minimum wage from its current pathetic $7.25 per hour to $15 in early or mid 2014, and to $20 by early 2015. The economy can absorb this as easily as it absorbs record corporate profits, year after year, during our low-grade Great Depression, with all of its slack demand for goods and services.

This alone should tell you that prices are not connected to any laws of supply and demand. Instead, prices are largely manipulated by the large corporations, otherwise, prices would be going down with the historically lukewarm demand during these tough times, but prices keep going up, up, and up in defiance of the illegally broken laws of supply and demand.

Some people will foolishly argue that an increase in the minimum wage to $20 will mean increased prices. No, it won’t, at least, no more than is currently the case with manipulated prices. However, even today’s manipulative corporations cannot jack-up prices continuously, although they seem to be able to all the time, whenever they want.

To pay the new minimum wage, most US publicly traded corporations will be forced to dig into their record profits, or their trillions of dollars of retained earnings (estimates are $10-14 trillion worldwide for US companies, and this also tells you how uncompetitive and bloated they are. In other words, they are not competitive at all), in order to pay their employees the higher wages.

From a purely conservative point-of-view, which is the purely conceptualized reality that the US has a competitive, free market economic system despite all the evidence to the contrary, corporate management teams will want to be competitive, just as conservatives want to believe, even in the face of such an overdue rise of the minimum wage.

Therefore, under our current conservative point-of-view, any Neanderthal management team that is dumb enough to increase their prices while their more competent rivals pay their employees the higher minimum wage out of their historically high profits and retained earnings, will go the way of the Neanderthals. It’s that simple. The companies that use their bloated, pent up financial resources in this way will live to fight another day as their Neanderthal rivals go out of business.

Investors, of course, may suffer. They may see their share prices drop temporarily, especially, as competition heats up, as corporations use up their record retained earnings, and have to contend with lower profit margins, like in any competitive economic model. However, this will bring the financial markets down much more gently than compared to a bursting bubble that awaits us in the absence of any federal intervention.

Since the bubbles have been created by redistributing money from the 99 percent to the 1 percent, it stands to reason the best antidote to such an approaching disaster is for corporate royalists to give the money back to those to whom it really belongs; the 99 percent. This can most easily and prudently be done by raising the federal minimum wage to $20 per hour over the next year and a half.

That $10 to $14 trillion US corporations are sitting on can be used to pay US citizens, which will then increase the demand for goods and services, and send the US economy into its first long-term non-bubble economic expansion since the 1960s.

Recent studies show increasing the minimum wage beefs up demand, increases employment, and that there are no negative consequences as is claimed, like job losses. Besides, an increased minimum wage is what our weak economy needs right now. And given record corporate retained earnings and record profits, the economy can easily absorb the higher wage. Enhanced demand will create good paying jobs, flood local tax bases with more income for schools and the social safety nets, safely deflate the financial market bubbles, and in the process perhaps head off the coming Great Depression, and likely even end our current low grade Depression. Furthermore, the 1 percent will have less money with which to corrupt government at all levels, and, by the way, the political markets are another area in which the 1 percent use their ill-gotten gains to invest in legislation against the 99 percent. That does create jobs for corporate lobbyists. So the 1 percent will have less money to do that little thing. So let’s do the obvious thing; raise the minimum wage to $20 an hour.

The legal and logical difference between an owner operated business and a business structured on “organized money” (a limited liability corporation) is as obvious as the difference between a single worker and a large labor union.

Therefore, one last thing needs to be mentioned. There is always somebody who will say raising the minimum wage to $20 an hour will kill small mom and pop businesses. Conceded, those are mostly businesses that operate in something that kind of resembles a competitive business environment. Those businesses should be allowed to operate with a minimum wage of say, $$12-15 an hour. However, since limited liability corporations are nothing more than “organized money,” as FDR accurately put it, and since they operate in a more collusive environment, those corporations are a totally different animal from owner operated companies, and should be made to pay the $20 minimum wage, which should also be indexed to inflation.

pFrom StoctCharts.com. History of the Dow Jones Industrials

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This is a famous image from the Bread and Roses strike in Lawrence MA. This is my favorite strike. Workers from many different factories, different ages, and different languages came together to make a difference despite being up against corporate giants and a wall of gun holding militia men. This is what SOLIDARITY is all about. These men, women, and children accomplished more than most even attempt these days and worked through cultural barriers while doing so.

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In the USA, money reigns over democracy more and more. Politicians ignore the will of the majority whenever it pleases them and the parasites of the 1 percent. That includes their politicians, such as Wall Street Senator Ron Wyden, a notorious liar and servant of Wall Street. He is supposed to represent the interests of the people of Oregon, but he never does when it is at cross purposes with his masters of Wall Street. The corporate propaganda machine defends Wyden by creating illusions about what he is and what he does, rather than the truth. In that way, they keep our eyes off the prize of the American dream that Wyden is constantly redistributing to the parasites of the 1 percent via federal legislation. This makes Wyden, as well as such Wall Street politicians as John Boehner, Rand Paul, Mitch McConnell, and about 90 percent of the US senate and House of Representatives nothing but parasites of the 1 percent. That’s why it’s a rigged game against the 99 percent, and there are plenty of examples of how democracy is nothing more than an illusion any more.

According to economist Richard Wolff, “2013 drove home a basic lesson: US capitalism’s economic leaders and their politicians now regularly ignore majority opinions and preferences. For example, polls showed overwhelming popular support for higher taxes on the rich with lower taxes on the rest of us and for reversing the nation’s deepening economic inequalities. Yet Republicans and Democrats, including President Obama, raised payroll taxes sharply on January 1, 2013. Those taxes are regressive; they take a smaller percentage of your income the higher your income is above $113,700 per year. Raising the payroll tax increased economic inequality across 2013.”

Click on the link below for more of this story.

Capitalism and Democracy: Year-End Lessons–Z Communications

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