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Posts Tagged ‘free trade treaties’

The evidence is all in; tax cuts for the rich destroy jobs. The money from tax cuts for the rich is used to purchase politicians, like Wall Street Congressman John Boehner and Wall Street Senator Ron Wyden, who then press for legislation or free trade treaties that redistribute income from the 99 to the 1 percent, destroying American jobs in the process.

Free trade treaties are the most obvious case in point. These treaties pave the way for corporations to ship jobs overseas, and the difference between the old higher US wages and the new lower overseas wages goes into the pockets of the super rich via higher corporate profits, rising share prices and soaring dividends.

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From the Economic Policy Institute:

“Wage trends greatly determine how fast incomes at the middle and bottom grow, as well as the overall path of income inequality, as we argued in Raising America’s Pay. This is for the simple reason that most households, including those with low incomes, rely on labor earnings for the vast majority of their income. That is why my initial look at the data from the newly released Census Bureau report on income and, poverty in 2013 will look at wages and the incomes of working age households.

The Census data show that from 2012 to 2013, median household income for non-elderly households (those with a head of household younger than 65 years old) increased 0.4 percent from $58,186 to $58,448. However, that modest growth barely begins to offset the losses incurred during the Great Recession or the losses that prevailed in the prior business cycle from 2000 to 2007. Between 2007 and 2013, median household income for non-elderly households dropped from $63,527 to $58,448, a decline of $5,079, or 8.0 percent. Furthermore, the disappointing trends of the Great Recession and its aftermath come on the heels of the weak labor market from 2000-2007, where the median income of non-elderly households fell significantly, from $65,785 to $63,527, the first time in the post-war period that incomes failed to grow over a business cycle. Altogether, from 2000 to 2013, median income for non-elderly households fell from $65,785 to $58,448, a decline of $7,337, or 11.2 percent.”

So the question is: why has average US family income dropped from $65,785 in 2000 to $63,527 in 2007 and then to $58,448 in 2013?

The answer is simple. The money has been redistributed from the 99 to the 1 percent, which is why the stock markets and corporate earnings are at record levels and family income has plummeted for fourteen years, and now remains static and historically low.

Free trade treaties, for example, have shipped jobs overseas, and the difference between the old higher US wages and benefits and the new lower overseas wages and benefits has gone directly from the 99 percent and into the pockets of the 1 percent thanks to politicians such as Wall Street Senator Ron Wyden. Nearly two million US jobs were exported from the US in 2013, according to the Federal Reserve. Around thirty million have been exported since 1990. Thank you Senator Wyden.

Corporations have also pushed the income of their employees down, except of course, for CEO’s and important members of the major Wall Street investment banks. Many of these Wall Street people earn millions of dollars by illegally ripping off the retirement accounts of working Americans. US politicians make certain they’re able to do it. See the book Flash Boys by Michael Lewis.

There are a myriad of other ways the government acts as a legislative conduit to redistribute income from the 99 to the 1 percent. This has been ongoing since 1981.

Essentially, this means that the current massive income and wealth inequality we experience today is a function of tax cuts for the rich, which were then used to corrupt government at all levels, as well as both political parties.

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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 difference between Denmark and the USA is simple. In Denmark, the government is relatively honest; in the USA government is corrupt to the max at nearly all levels.

The Reagan tax cuts gave the rich enough money to spend on buying more and more politicians. Legislators began passing bills in the halls of congress to redistribute income from the 99 to the 1  percent, such as deregulation of energy markets, deregulation of the banking industry, privatization scams, the repeal of Glass-Steagal which allowed investment and commercial banks to merge, free trade treaties, and much more, and all of which redistributed massive amounts of income from the 99 to the 1 percent. The corrupt US corporate press continuously lied to the 99 percent about the effects of these things. Additional tax cuts increased the purchasing power of the 1 percent in the political markets on all levels of government, thereby increasing corruption.

And there is not one morsel of evidence to suggest tax cuts for the rich created a single net job during the last thirty years. However, all the evidence shows these tax cuts were used to cut jobs and wages via the corruption outlined above. In other words, all the evidence shows that tax cuts for the rich destroys jobs and corrupts government.

Also see how the rich maintain their riches via the Federal Reserve and a corrupt US government and a corrupt US corporate press via the link below.

breakdown-of-the-26-trillion-the-federal-reserve-handed-out-to-save-rich-incompetent-investors-but-who-purchase-political-power–JohnHively.wordpress.com

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The first law of economics is that demand for goods and services is a product of people being able to purchase things with money. For thirty years, politicians such as Wall Street Senators Ron Wyden, Mitch McConnell and Orrin Hatch have continueously and successfully devised ways to redistribute income from the 99 to the 1 percent via free trade treaties, privatization scams, a bloated military, and numerous other government actions. Now the economy is weak and getting sicker all the time, and the morally depraved and politically corrupt servants of Wall Street mentioned above continue down the same path. That’s because the US government is about as corrupt as anybody can make it.

It’s as if those three senators and numerous other politicians want to turn the USA into the United States of Haiti like poverty.

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Publicly traded, limited liability corporations are the dominate forms of business structure today, as well as during the past 150 years. This form of business is in its barest form nothing more than “organized money.” The money of rich investors are united into one business, which essentially gives them oligarchic and or monopolistic powers in the various markets into which these business structures reach.

The Reagan tax cuts allowed these corporations and their investors to keep more of their ill gotten gains. They used this extra money to corrupt politicians, such as Wall Street Senator Ronnie Wyden, Orrin Hatch and Mitch McConnell. These corrupt politicians use their political clout to push more legislation that redistributes income from the 99 to the 1 percent, such as NAFTA and the looming Trans Pacific Partnership, which is the largest income redistribution treaty of all time. The also use their ill gotten gains to gain more tax cuts that destroy jobs, such as these so-called free trade treaties, which are nothing more than income redistribution treaties, and Wall Street Senator Ron “Useful Idiot” Wyden knows this.

The only thing that has been corrupted to the core by the money of the rich not mentioned in the cartoon above is the US Supreme Court. A lot of the lower courts have also been corrupted.

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