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Posts Tagged ‘billionaires’

The rich and Wall Street executives have been quaking in their boots recently. Their Ponzi Schemes and bubbles known as the financial markets are in danger of collapsing. And it’s all because of President Donald Trump.

Trump is threatening to levy taxes on products made in China and exported to the USA. These taxes are called tariffs, and here’s what the corporate news media doesn’t want you to know. By doing this, Trump is also threatening to deflate the recent stock market bubble, which is the same thing as saying Trump is threatening to decrease by significant margins the income and wealth of the billionaires who control both major political parties in the United States.

Tariffs are taxes on goods being imported into the USA from foreign nations. US corporations export into the USA tens of billions of products manufactured in China, Vietnam, Mexico and other third world nations. Increased tariffs mean US corporations will need to raise the prices of their Chinese and other third world products, or lower their profit margins.

The profits of corporations are the primary component determining the prices of shares. When profits drop, especially in the long term, share prices fall. So the share price of say, Home Depot could fall from $176 a share to $14 a share. If you own millions of shares you lose quite a lot of money. This is why the threat of tariffs in steel and aluminum has roiled the US financial markets as of late. A lot of paper wealth is going to evaporate as stock prices drop should the tariffs be enacted. Dividends may decline, as well.

Tens of millions of US jobs have been exported from the US to China, Vietnam, India, Pakistan, Mexico, Honduras and elsewhere over the last twenty-five years. This has been done in order to jack up corporate profits by significantly reducing US labor and environmental costs. The difference between the old higher US wages and benefits and the new lower wages without benefits has gone straight into the already fat wallets and bank accounts of the superrich. They have used their ill-gotten gains to bid up the prices of corporate shares, gold, housing, commodities futures, and other investments.

President Trump’s threat to use tariffs against China and other nations means fewer dollars will go into the pockets of the rich if the tariffs are enacted. It also means potentially massive losses in the stock and maybe even bond markets.

Some corporations may even be inclined to export their jobs in China back to the United States if the tariffs are enacted. The middle class will benefit with additional jobs should this come about. In other words, the tariffs could redistribute income from the rich back into the pockets of the 99 percent, and this is something the billionaires will not allow their corporate media outlets to tell you. The proposed tariffs are limited, and therefore will not have much of an impact, but they will have some positive benefits to the US 99 percent.

Currently, six men own more wealth than the bottom 50 percent of the world’s people (See https://johnhively.wordpress.com/2017/02/23/six-men-own-more-wealth-than-the-bottom-50-percent-of-human-kind/). In the USA, the 1 percent own more wealth than the bottom 90 percent for the first time in US history (See https://johnhively.wordpress.com/2017/12/03/in-the-united-states-the-1-percent-now-own-more-wealth-than-the-bottom-90-percent-for-the-first-time-in-us-history/). In the United States, the 1 percent steal as much as 35 percent of the income produced in the USA every year, up from 8 percent in 1979.

Trump’s tariffs will likely put tiny brakes on the continuously growing inequality of wealth and income produced by free trade agreements. Those brakes will likely only slow down the growing income and wealth inequality rather than halting or reversing them. But the tariffs would be a beginning to reversing the massive income and wealth inequality which the rich have successfully conspired to produce over the last thirty-seven years.

A few other things are in order. The USA has the fifteen to twenty largest trade deficits in world history. That means the US imports more goods than it exports. Our largest trade deficit is not with China, as the media claims. In reality, the largest US trade deficit is with US corporations that have exported tens of millions of US jobs overseas. The purpose of exporting tens of millions of US jobs has been to redistribute trillions of dollars from US workers to the rich, avoid US pollution controls (thereby increasing profits),  and avoid US health and safety regulations.

What American Presidents Have To Say About Tariffs:

“America’s growth and future depend on trade. But we would insist on trade that is fair and free. We are always willing to be trade partners but never trade patsies”. President John F. Kennedy.

“Protection, which guards and develops our industries, is a cardinal policy of the Republican Party. The measure of protection should always at least equal the difference in the cost of production at home and abroad.” President Theodore Roosevelt

“A wise tariff protects American industries and manufacture. It encourages growth and enterprise among our own people. It opens our mines, it erects our machine shops, our furnaces and factories”.
President William Mckinley

It Was Good Enough For Kennedy, Roosevelt & McKinley. Why Isn’t It For Congress?

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The golden rule is at work; he who has the gold makes the rules that determine income and wealth distribution. That is why income inequality has grown so enormous worldwide. The rich are getting wealthier while the rest of us toil in financial purgatory, even the European and US middle class.

The golden rule is also why the global economy created a record number of billionaires last year, exacerbating inequality amid a weakening of workers’ rights and a corporate push to maximize shareholder returns, charity organization Oxfam International said in a new report.

The folks at Oxfam define severe poverty as those people living on $1.25 or less a day. and according to Oxfam estimates, about 1/3 of the world’s population lives at or below that level.

The world’s 2043 billionaires saw their wealth surge by $762 billion, which is enough money to end extreme poverty seven times over, according to Oxfam.

According to separate data compiled by Bloomberg, the top 500 billionaires’ net worth (wealth) grew 24% to $5.38 trillion in 2017, while the world’s richest person, Amazon.com Inc.’s Jeff Bezos, saw a gain of $33.7 billion.

“The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system,” said Winnie Byanyima, executive director of Oxfam International. “The people who make our clothes, assemble our phones and grow our food are being exploited.” Those people are also the folks without the gold with which to purchase political power in the so-called democracies of the world.

Oxfam had published the report as global leaders, chief executives and bankers arrived in Davos, Switzerland, for the World Economic Forum’s annual meeting. This is an event in which the rich of the world share plans of how to rip the rest of us off. A spokesperson for Oxfam, however, noted “that many of the world’s elite say they’re concerned about income inequality, but most governments are “shamefully failing” to improve the matter. That’s because the politicians managing the affairs of those governments are being paid to do nothing to rectify growing poverty throughout the world, and they are being paid to ensure the billionaires gain more and more of the world’s income and wealth. This is called corruption.

Oxfam called on governments to limit shareholder and executive returns while ensuring workers receive a living wage. It also recommended eliminating the gender pay gap and raising taxes on the wealthy, among other suggestions.”

“People are ready for change,” Byanyima said. “They want a limit on the power and the wealth which sits in the hands of so few.” In addition, p0eople want to limit the effects of the golden rule which allows the rich to control the distribution of income and wealth and send into their bank accounts the vast majority of income and wealth created.

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In 1988, when Bernie Sanders was the mayor of Burlington, Vermont, C-SPAN asked him what his ideal president would talk about. Sanders then sounded pretty much like he sounds now.

Bernie, then in his forties, spoke “about how Americans deserve a presidential candidate who would challenge the corrupt Washington establishment and take on the billionaires who run the political process. His response to the question sounded almost exactly like a Bernie Sanders stump speech in 2016:

“In our nation today we have an extreme disparity between the rich and the poor,” Sanders said. “Elections are bought and sold and controlled by people who have huge sums of money.”

“I would like to see somebody who speaks for the underdog, for people who don’t have decent healthcare benefits. Somebody who understands that in America today, 50 percent of the people don’t even vote anymore, and the vast majority of that 50 percent are poor people and working people who have given up on the system. So essentially, I would like to see a candidate who has the guts to have a vision that America could be a land for all people, not just a land controlled by the super-rich.”

Comedian George Carlin nailed it when he talked about the owners of this nation in the video below. Having a total net worth of less than half a million dollars, Bernie Sanders is not one of the owners of this nation. The other presidential candidates are the employees of the billionaires and the billion dollar corporations who bought the political process and the news media decades ago. They control the political and news markets, in other words. We working people don’t.

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Something unprecedented is going to happen tonight. Will you be able to say that you were a part of it?

Wednesday, July 29—in 3,146 homes, town squares, coffee shops and union halls, more than 82,000 people who support Bernie Sander’s campaign will participate in their first organizing meeting. They will see Bernie via live video, make new friends and help build the movement that’s taking our country back from the billionaire class.

Will you be a part of it?

Click below if you are interested.

Yes, I want to be a part of this. Which meetings can I go to?

Or

I can’t make it, but I am willing to contribute $10 to help support these meetings

We’ve got the people on our side—not the billionaires. Your small donations pay for the basic infrastructure that allows this movement to grow and grow and grow.

Here’s what history looks like. Each dot on this map is an organizing meeting happening Wednesday night:

BSAN_July29map_150723_600px

No other presidential campaign has had this many grassroots events this early on in the race—not even President Obama. That’s what I mean when I say tonight will be historic.

At tonight’s organizing meetings, supporters in your community will meet each other and share their stories about why they support Bernie. Then there will be a live video of Bernie speaking about what our next steps will be to build our campaign in your neighborhood.

It’s going to be a big night. Take back your government. Join us.

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When the government increases taxes on the rich, they have less money to purchase politicians, which means government can pretty much follow policies the majority of voters want, such as creating jobs by spurring the demand for goods and services. Minnesota’s next-door-neighbor is Wisconsin. Governor Scott Walker slashed the state’s budget and programs in order to make room for millions of dollars of tax cuts for mostly out-of-state billionaires and millionaires. The result was a decrease in demand for goods and services and nearly last in the nation in job creation.

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Why do we have so much inequality of income and wealth today? The Reagan tax cuts unleashed billions of dollars into the political markets on behalf of the rich. The result has been massive corruption in government in all three branches, and both major political parties are now train wrecks of corruption. The result is large numbers of legislation and international income redistribution agreements falsely label trade agreements. These agreements are designed to redistribute income and wealth from the 99 to the 1 percent. That’s why and how the 1 percent steal over 36 percent of the income people produce in the USA yearly, compared to 8 percent in 1980. That’s also why the economy is historically weak.

The Trans Pacific Partnership (TPP) is the latest scam being pushed by the 1 percent through their President Barack Obama, as well as Wall Street Senator’s Ron Wyden, Orrin Hatch and Mitch McConnell. Among other things, the TPP will:

* TPP will give incentives for US corporations to export millions of US jobs. The Federal Reserve estimates that 28 million US jobs were exported between 1990 and 2010.

* TPP will increase US income and wealth inequality. The 1 percent have already taken 95 percent of all income growth in the United States since 2009. When the above jobs were exported, the difference between the old higher US wages and the new lower wages will go straight into the pockets of the 1 percent via higher corporate profits, rising dividends and surging share prices.

* Those lost jobs will no longer be paying the taxes for our infrastructure, social safety nets, schools, fire and police, but those lost jobs will push the stock markets higher.

* TPP will effectively eliminate your voting rights on local and state issues since it will unconstitutionally grant investors of the 0.01 percent special privileges to challenge labeling and health and safety local laws and regulations of the 99 percent, which most people call voter suppression, but in this case it should be called voter elimination,

* TPP will offer new monopolies for Big Pharma to raise medicine prices they charge you (which redistributes income from the 99 to the 1 percent),

* TPP will limit food safety standards (which redistributes and transforms your health into the profits of the 1 percent),

* TPP will block financial regulations aimed at preventing the next financial crisis (which will make it easier for Wall Street to redistribute your income and wealth to the 1 percent).

* TPP will destroy millions of jobs in Latin America (230,000 in the textile industry of El Salvador alone) forcing millions of undocumented immigrants into the United States.

* The result of the above will be to depress wages in both North and South America, all to the benefit of the 1 percent, and all at the expense of the 99 percent.

* And we can’t forget that TPP will increase the already massive US trade deficit with other nations, which is supposed to be a bad thing. The exported jobs will be producing goods overseas rather than here, and then US corporations will export their products from China and Vietnam into the United States, exacerbating the current trade deficit.

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