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Posts Tagged ‘deregulation’

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How equal should income in the United States be? The corollary question should be, What is an Economy for? Let’s begin with the later question.

In the USA, from 1933 until 1981, the laws and regulations the US government enacted were intended to increase gross domestic product and spur demand so that a vast majority of Americans experienced rising standards of living.

So with that out of the way, we can determine roughly how equal income and wealth distribution should be in the United States. But first, a little lesson. The United States government determines the distribution of income and wealth via legislation and trade treaties. Since 1981, the rich have been in control of our government. He who has the gold makes the rules.

So if a rising economic tide lifts most boats, and gives most everybody a better future, then that’s about what we want.

The current business expansion (the current rising tide) is leaving everybody behind since the 1 percent have been taking 99 percent of all income growth since 2009. Today, that translates into the 1 percent stealing 37 percent of all income produced in the United States, up from 8 percent in 1980. The economy lifted a lot more people upward back in 1980. As a nation, we were all better off then than now.

In four years under President Jimmy Carter, 1977-81, the US gained more than nine million private sector jobs, and with rising average real wage rates. That’s better per year than job growth under President Ronald Reagan and President Bill Clinton. And Carter did this as the US experienced two recessions. In addition, the US gross domestic product was only 40 percent of what the US produces today, and the population was 60 percent of what it is today.

More jobs were created under Jimmy Carter than under President George W. Bush and President Barack Obama combined. Under the later two, family income dropped $7,000 a year because they focused (along with Reagan, the first Bush and Bill Clinton) mostly on passing legislation that redistributed income from the 99 to the 1 percent, such as Wall Street deregulation scams and free trade schemes.

Meanwhile, during the thirteen years under Obama and Bush, out of pocket health care costs soared 85 percent, tuition and fees at colleges and universities rocketed 86 percent, child care costs rose 37 percent, housing jumped 28 percent, and the median net worth of middle class families has fallen 17 percent since 2010.

Yes, 8 percent of all income going to the 1 percent sounds about right, for starters.

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The Reagan tax cuts for the rich unleashed a ton of money that corrupted government, which launched the war against the middle class by passing legislation that redistributes income from the 99 to the 1 percent, such as deregulation, privatization scams, and income redistribution treaties. The result is a massive redistribution of income and wealth from the 99 to the 1 percent, drops in real income for the middle class, the elimination of retirement for a large percentage of the population, the weakening of the social safety net, historically weak job growth, historically non-existent real wage growth, historically weak growth of US Gross Domestic Product, underfunded schools, and on and on.

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In four years under President Jimmy Carter, the US gained more than nine million private sector jobs, and with rising average real wage rates. That’s better per year than job growth under President Ronald Reagan.

More jobs were created under Jimmy Carter than under President George W. Bush and President Barack Obama combined. Under the later two, family income dropped $7,000 a year because they focused (along with Reagan, the first Bush and Bill Clinton) mostly on passing legislation that redistributed income from the 99 to the 1 percent, such as deregulation scams and free trade schemes.

Meanwhile, during the thirteen years under Obama and Bush, out of pocket health care costs soared 85 percent, tuition and fees at colleges and universities rocketed 86 percent, child care costs rose 37 percent, housing jumped 28 percent, and the median net worth of middle class families has fallen 17 percent since 2010.

Is it any wonder job creation is so bad in the US compared to the good old days? Massive amounts of income from the 99 percent have been redistributed to the 1 percent, curtailing demand for goods and services. The rich, meanwhile, spend their money on stocks, bonds, gold, politicians, corrupting government and both major political parties, and other things that do not create jobs, but actually destroys them.

Back in the good old days of Jimmy Carter, the 1 percent stole only about 8 percent of the total income produced in the USA. Nowadays, depending on the figures you use, they’re stealing 22-32 percent. They’re also stealing 95 percent of all income growth during the last four years. Thank you President Obama. Thank you Republican Party Plutocrats, such as US House Leader John Boehner.

That means the middle class is being ground down and pounded into a pulp even more under President Obama than under President George W. Bush. And Obama, with his henchmen like Wall Street Senator Ron Wyden, wants more of your income redistributed to the 1 percent via the Trans Pacific Partnership, the largest income redistribution treaty of all time.

Makes you wish we lived under the rule of the great President Jimmy Carter. He was the last president that ruled for all the people, not just the 1 percent. He probably was the last great president, though the corporate press dutifully vilifies him for not pushing for more legislation that would have redistributed income from the 99 to the 1 percent.

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Data from the US Census Bureau shows that US income from 2013 stayed stagnate from 2012, as well as the previous thirty-three years of domination by the 1 percent. Median income has dropped by $5,000 per year since 2007. That money has been redistributed to the 1 percent via free trade treaties, deregulation scams, privatization schemes, and artificially keeping the minimum wage down, rather than allowing it to grow with inflation and productivity. The difference between what wages should be, and what they are, are redistributed to the 1 percent via higher corporate earnings, surging dividends, and rising share prices. That includes the thirty plus million jobs that have been shipped overseas via free trade treaties since 1990.

Thank you Wall Street Senator Ron Wyden who has voted to ship jobs overseas and redistribute the income of hard working Americans to the 1 percent in the process every time he has had the opportunity to do so.

For more on the story, click the following link from Reuters, New Data Shows Wages in 2013 Remain Stagnate–Reuters

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Ultimately, it is political corruption that plays the biggest role in creating income and wealth inequality. The Reagan tax cuts gave the rich and powerful the money to craft legislation, purchase politicians, such as Wall Street Senator’s Ron Wyden, Orrin Hatch and Mitch McConnell, and then use their corrupt corporate news media to sell the legislation using lies to the public. Now that the public has begun to see reality, the news media, such as ABC News, Fox Propaganda Network, and the Oregonian newspaper, among many others, have continued the lies about how free trade treaties are good for the economy even though the US trade deficit continues to explode more and more with each treaty. That’s because US corporations are shipping more and more jobs overseas, and then they ship the products that used to be manufactured in the USA straight back to the USA, creating the trade gap and a few longshoremen jobs along the way.

Trade treaties are perhaps the principal reason the US economy is historically weak, and why job creation and wage and salary growth are also his historically bad.

The difference between the old wages and the new lower overseas wages goes into the pockets of the rich via higher corporate profits, surging dividends and soaring share prices. That’s why the same process in terms of inequality, political corruption and news media corruption are also in play with most government actions, whether it’s war in Iraq, education loans, public school testing, privatization scams, and deregulation schemes, keeping secret the negative health impacts of GMOs, among many others, it’s all about redistributing your income, your children’s income, and your neighbor’s income, as well as your health, to the 1 percent. The US government is a total cesspool of corruption, as is the corporate news media.

Now the Obama regime is trying to pass through congress the largest income redistribution treaty of them all, the Trans Pacific Partnership. Obama’s primary ally is this corrupt scam is Wall Street Senator Ron Wyden, who is crafting legislation that hasn’t been crafted yet, but he assures those who are listening that it will be fair and balanced. This legislation is called “smart track.” It’s job is to replace fast track legislation. Fast track allowed trade treaties to be voted on with little or no debate in congress, making it difficult for the public to discover what was going on and to muster opposition. Wyden’s smart track is just another scam to redistribute income from the 99 to the 1 percent on behalf of his wall street masters.

Fight back, protest, inform and organize your neighbors. Don’t let social issues get in the way of economic solidarity with your neighbors, because that’s what the corrupt news media, the political class, and the 1 percent have been doing to the 99 percent for forty years, and that’s solely to achieve their objective of income redistribution.

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The war against the middle class is being fought in the halls of government at all levels. Stand together and fight. It’s your only chance to win against the financial might of the 1 percent. They’ve purchased Republicans and Democrats to do their legislative bidding, such as Wall Street Senator’s Ron Wyden, and Mitch McConnell. The financial game has been rigged against you.

Their strategy is simple. With of the help of their corporate press, on the right and on the left, the 1 percent and their politicians divide us by social issues; such as abortion, gun rights, race, illegal immigration; and then with our eyes on the social issues, they wipe us out financially by redistributing our incomes to the 1 percent via legislation, such as trade treaties that ship our jobs overseas, privatization and deregulation scams that increase prices for us and profits for them, and holding down the federal minimum wage below both inflation and productivity gains; and the difference between what wages should be and what they are at the lower levels goes into the pockets of the 1 percent via higher corporate profits, dividends and share prices.

That’s precisely why corporate profits and share prices are currently at all time highs, and wages and job growth are at all time lows, and that’s for any business expansion in the history of the United States. Thank you Koch Brothers, thank you Supreme Court Corporate Hack John Roberts, thank you Ron Wyden!

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