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Posts Tagged ‘ALEC’

“A network of Republican lawmakers and their rightwing corporate funders are battling behind closed doors to block minimum wage increases in cities across the US, in a step-by-step counter-attack that could cut back the incomes of millions of Americans despite an economic upswing.

According to strategic details obtained by the Guardian, the American Legislative Exchange Council (ALEC) – along with its localized sister organization, ACCE – is trying to prevent elected city representatives from raising the minimum wage to levels above those set by their states. The group has launched an aggressive dual-track mission that combines legislation and litigation in what Alec calls a “new battleground” over worker compensation.”

Why would rich people want to stop poor people from earning more money? The answer is simple.

The financial markets are Ponzi schemes. More and more money has to be pumped into the financial markets, or the values of corporate shares that are traded on those markets will crumble into nothingness. For example, if shares of Weyerhauser climb to $50 per share, yet profits go down, more sellers will enter the market than buyers, and the value of the shares go down. However, the process is also true if profits stay the same from one quarter to the next. In which case, there might be exactly as many buyers as sellers of Weyerhauser shares if other stock prices are rising.

Why hold a static stock when when you can sell and purchase shares that are on the rise? The result of static corporate profits (and profits are the key to whether or not share prices rise), is to send share prices down. Weyerhauser’s stock plummeted from $50 to $1 per share from 1929 to 1933, which is when the Ponzi Scheme known as Wall Street collapsed. I demonstrated this in greater detail in The Rigged Game: Corporate America and a People Betrayed.

This is why ALEC opposes increasing the minimum wage anywhere except for shareholders, CEOs and corporate lobbyists. If corporations need to pay workers higher wages, that will reduce profits and potentially send share prices lower. This is also why the 1 percent wage war against the middle class, corrupt government at all levels with their ill-gotten gains, and have their legislators push legislation to redistribute income from the 99 to the 1 percent. This is also why we have much greater inflation today than the government lets us know about, but that’s another story.

Check out the rest of the story from the Guardian by clicking on the link below.

How a powerful rightwing lobby is plotting to stop minimum wage hikes–the Guardian

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Democracy Now! showed “The United States of ALEC,” a special news documentary by legendary journalist Bill Moyers on how the secretive American Legislative Exchange Council (ALEC) “has helped corporate America propose and even draft legislation for states across the country. ALEC brings together major U.S. corporations and right-wing legislators to craft and vote on “model” bills behind closed doors. It has come under increasing scrutiny for its role in promoting “stand your ground” gun laws, voter suppression bills, union-busting policies and other controversial legislation. Although billing itself as a “nonpartisan public-private partnership,” ALEC is actually a national network of state politicians and powerful corporations principally concerned with increasing corporate profits without public scrutiny. Moyers’ special will air this weekend on Moyers & Company, but first airs on Democracy Now! today. “The United States of ALEC” is a collaboration between Okapi Productions, LLC and the Schumann Media Center.”

Check out the link below to see the entire Moyers documentary, with an introduction by Amy Goodman of DemocracyNow!

The United States of ALEC–Democracy Now!

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This week, in the video below Bill Moyers reports on the most influential corporate-funded political force most of America has never heard of — ALEC, the American Legislative Exchange Council. A national consortium of state politicians and powerful corporations, ALEC presents itself as a “nonpartisan public-private partnership”. But behind that mantra lies a vast network of corporate lobbying and political action aimed to increase corporate profits at public expense without public knowledge.

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PepsiCo, the world’s second largest beverage company, ended its sponsorship of ALEC, the controversial right-wing group of the one percent that lobbies for voter suppression efforts. Their goal is to limit the ability of the 99 percent to vote, at least as much as possible. Pepsi’s move may also have had a role in compelling Coca-Cola to drop its support for ALEC.

Click here for the full story

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