The figures above are the minimum necessary to be a member of the 1 percent. There are plenty of one percent members who steal millions of dollars a year. Let’s face it; steal is a strong word to use, but does anybody really think a person who gets $100 million a year actually earned that without taking at least some of it from somebody else, like cutting labor cost by shipping jobs overseas, or pushing government legislation to deprive people of voting rights, or spending millions to campaign against a rise in the minimum wage?
Posts Tagged ‘Income’
Posted in corruption, the Rigged Game, Uncategorized, tagged Economic Policy Institute, Income, members, minimum, one percent, state-by-state on Jpm2000000pmWed, 11 Feb 2015 12:32:17 +000015 10, 2010 | Leave a Comment »
Posted in corruption, culture, Economics, free trade, the Rigged Game, tagged Barack Obama, billionaires, campaign finance reform, Income, income redistribution, inequality, Koch Brothers, Mitch McConnell, Orrin Hatch, Ron Wyden, Ronald Reagan, Tax cuts, Trans-Pacific Partnership, wealth on Jam1000000amWed, 28 Jan 2015 09:37:12 +000015 10, 2010 | Leave a Comment »
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.
Video: The Result of Reaganomics–Wealth Distribution in the United States: the 1 percent own 40 percent of US wealth in 2009. Now it’s greater than That in 2015!
Posted in corruption, culture, free trade, income redistribution, inflation, taxes, the Rigged Game, trade, trade deficit, Uncategorized, war, wealth redistribution, tagged Barack Obama, Class warfare, corruption, government, Income, inequality, Mitch McConnell, Orrin Hatch, Ron Wyden, Tax cuts, The Trans Pacific Partnership, Trans-Pacific Partnership, trickle down economics, wealth on Jpm1000000pmTue, 27 Jan 2015 13:12:18 +000015 10, 2010 | Leave a Comment »
Inequality in the United States began with a simple idea; give more money to the rich so they can purchase the favors of government. This was called the Reagan tax cuts. The rich used their money to purchase more tax breaks in the political markets, and that’s exactly what the political area is; a market with buyers and sellers.
When President Franklin Roosevelt pushed for a 90 percent top marginal tax rate, he did it to act as a maximum wage, to save democracy from being purchased by the rich. Reagan let the genie out of the bottle.
Since Reagan, all sorts of legislation has been passed to redistribute income from the 99 to the 1 percent, including income redistribution treaties, falsely referred to as trade agreements.
Now President Obama is pushing the Trans-Pacific Partnership (TPP), the largest income redistribution agreement of all time. Since 2009, the rich have stolen 95 percent of all income growth. The TPP will increase this inequality. Wall Street Senator’s Orrin Hatch, Mitch McConnell and Ron Wyden are all for the TPP, since they have a history of siding with legislation that redistributes income from the 99 to the 1 percent.
In other words, Reagan’s tax cuts began rigging the game of economics and politics in favor of the 1 percent.
Posted in corruption, income redistribution, Market manipulation, taxes, trade, trade deficit, Uncategorized, war, wealth redistribution, tagged deregulation, distribution, Free trade, Income, middle class, privatization, Ronald Reagan, Tax cuts, war on Jam1000000amThu, 15 Jan 2015 06:46:42 +000015 10, 2010 | Leave a Comment »
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.
Posted in "John Hively", corruption, the Rigged Game, Uncategorized, tagged Bernie Sanders, child mortality, distribution, Income, poverty, UNICEF on Jpm12000000pmFri, 26 Dec 2014 13:52:47 +000014 10, 2010 | Leave a Comment »
House Democrats Vow to Fight Obama and His Redistribution of Income From the 99 to the 1 Percent Via the Trans Pacific Partnership Scheme
Posted in corruption, free trade, genetically modified organism (GMO), tagged Barack Obama, House of Representatives, Income, income distribution, jobs, Mitch McConnell, outsourcing, redistribution, Ron Wyden, Rosa LeLauro, Trans-Pacific Partnership on Jam12000000amTue, 09 Dec 2014 11:31:43 +000014 10, 2010 | 1 Comment »
The Washington Post reports that, “House Democrats from the nation’s manufacturing heartland are vowing to fight President Obama’s push for a major trade deal in the Asia Pacific, saying the pact will harm U.S. jobs and charging that the administration has not been transparent with Congress in its negotiations.
“The administration refuses to change its approach to secret negotiations and is pushing to send a final package to Congress with almost no ability for us to scrutinize it,” Rep. Rosa DeLauro (D-Conn.) said Monday on a conference call with reporters. “Enough is enough: no more offshoring, no more NAFTA-style trade deals.”
Rep. Tim Ryan (D-Ohio) said that unless the administration made significant changes to the proposed deal, including new protections on currency manipulation, Democrats would “fight the administration tooth and nail on this.”
The opposition from Obama’s own party, and a significant portion of his liberal base, has presented a conundrum for the White House as it pursues the 12-nation Trans-Pacific Partnership (TPP), which is the economic centerpiece of the administration’s strategy to re-balance U.S. attention and resources to Asia. Negotiators from the 12 countries are in Washington this week for another round of talks in hopes of making progress toward an agreement in principle this coming spring.
White House advisers said they believe there could be more support for the trade pact in the new Congress because Republicans, who will take control of the Senate, are generally more supportive of free trade agreements. Last week, Obama touted the pact during an appearance with business leaders in Washington, calling on opponents not to “fight the last war” against previous trade pacts such as the North American Free Trade Agreement (NAFTA). He said those who oppose the deal are in favor of maintaining the “status quo,” a remark that angered labor unions and some Democrats.
The administration has said the proposed pact, which would encompass nations representing 30 percent of the world’s gross domestic product, would increase U.S. exports by lowering tariffs, while also imposing higher labor and environmental standards on other nations. But opponents said they fear that the deal will lead to more outsourcing of U.S. manufacturing and agricultural jobs.”
Notice the president plans to team up with Republicans to fight to redistribute the income of the 99 to the 1 percent in yet another of these so-called trade scams. Wall Street has guided this president since day one.
The secretive Trans-Pacific Partnership will 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 will effectively eliminate your votes on local and state levels for and against such things (which most people call voter suppression, but in this case it should be called voter elimination), outsource millions of jobs, offer new monopolies for Big Pharma to raise medicine prices they charge you (which redistributes income from the 99 to the 1 percent), limit food safety standards (which redistributes and transforms your health into the profits of the 1 percent), and 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). It will also kill the remainder of the US textile industry, destroy millions of jobs in Latin America, drive millions of undocumented immigrants into the United States, and 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 forgot that it will increase the already massive US trade deficit with other nations, which is supposed to be a bad thing. In other words, this scam is the largest income redistribution treaty of all time from the 99 to the 1 percent. Wyden is not the stupid little boy he pretends he is in public forums, for knows all of this. McConnell knows it, too. Hatch knows it. Obama knows it. All we have to do to stop this mammoth income redistribution scam from moving forward is to stop Fast Track.
Nice scam, isn’t it? Your Democratic president is for this! Your Wall Street Democratic Senators such as Ron Wyden are all for this plot! The vast majority of the Republican Party is for this garbage. Your government and both major political parties are corrupt to the marrow!
Posted in corruption, Economics, Economics, recession, income redistribution, Politics, the Rigged Game, Uncategorized, war, wealth redistribution, tagged 1 percent, 99 percent, Barack Obama, Congressional Budget Office, distribution, executive action, Income, income redistribution, President on Jam11000000amSat, 22 Nov 2014 08:53:15 +000014 10, 2010 | Leave a Comment »
On Thursday, November 20, 2014, President Obama announced that he was taking executive action that will allow up to five million undocumented immigrants to stay in the United States. The president promised these immigrants that they will not be deported, that they can seek work legally in the United States, on certain conditions, such as paying taxes.
Much of the news media of the 1 percent are claiming this is good for the economy, that everybody will prosper because of the president’s action.
For example, a study released by the Center for American Progress says, “Once they (undocumented immigrants) attain legal status, immigrants will be able to contribute to the increased consumption of goods and services that boosts business sales and raises the earnings of all Americans. They will pay taxes on their higher wages and increase the gross state product (GSP). Additionally, immigrants will be able to use their new legal status by integrating their skill set and education into creating jobs and raising productivity.”
Common sense, however, tells us that once undocumented immigrants receive legal status, they will consume approximately what they consume today. It is possible that with higher wages they will consume more. That will be offset, however, because the rest of us will be consuming less, according to an analysis of a similar congressional measure by the non-partisan Congressional Budget Office (CBO). According to the CBO, everybody’s wages and job opportunities will decline with the deal, except for the newly legalized immigrants. That means the impact of immigration reform will have little, or no, or perhaps even negative, net impact on the consumption of goods and services. It could even result in a decline of GNP. How could the consumption of goods and services go up if everybody’s wages and salaries are going down? They can’t and so the claim by the Center for American Progress is patently wrong.
According to the CBO, a senate bill similar to President Obama’s executive action which failed in committee last year would have depressed wages of all workers for the next twelve years, “raise the unemployment rate,” and “result in higher interest rates.” Notice the corporate news media hasn’t reported these things to you.
The president’s action will also push the unemployment rate higher than it would otherwise be through 2031. Currently, the real unemployment is somewhere between 10 and 13 percent, which is higher than the official rate of 7 percent. The executive action will force more and more people to compete for a smaller number of jobs, and this will drive wages down.
According to the Pew Hispanic Research Center, 80 percent of undocumented immigrants work under the table, that is without paying income taxes. Most of these people are expected to move into better paying jobs in the legal job market, creating greater labor competition, and driving wages down.
This same process also occurred after the amnesty granted undocumented immigrants in December 1986. Real wages immediately began to plummet for the next six years and didn’t recover to their 1986 level until 11 years later. Check out the graph below from the Bureau of Labor Statistics website. You’ll see a big dip in real wages for everybody beginning in December 1986.
The CBO also reported, “Capital investment would rise primarily because the return that investors would earn on a given amount of investment would be higher under the legislation than under current law.” The rationale for this is given with economic jargon, but basically it boils down to this; lower wages will increase profit margins, and so members of the 1 percent will purchase more corporate stocks, bonds and politicians.
In other words, the president’s executive action ensures the 1 percent benefit by pushing down wages, salaries and other compensation and redistributing the difference between the old rates and the new lower rates into the hands of the 1 percent. Nice scam, but it gets worse.
The president’s action comes at a time of real declining average wages for all American citizens, and so things are now going to become worse for us. On top of this, the 1 percent has been stealing 95 percent of all income growth for the last four years. Now it might grow as high as 96 percent. We are in an economy heading for disaster.