Posts Tagged ‘Keith Ellison’

On Sunday April 23, Bernie Sanders said, “The Democratic Party’s model is failing,” and if voter turnout doesn’t grow “there is no future forward for the Democratic Party.”

Now how about that? The Democratic Party is controlled by billionaires and the grassroots is drifting away. They ran Walmart/Wall Street candidate Hillary Clinton for US president and lost to an outsider who said outrageous and pretty stupid stuff in 2016. Of course, Donald Trump also kicked the crud out of 16 other contenders for the Republican Party nomination, so maybe the Republican grassroots are tired of the other billionaires that control their political party.

“Well,” Sanders said. “I think what is clear to anyone who looks at where the Democratic Party today is that the model of the Democratic Party is failing,” Sanders said on “Face the Nation.” “We have a Republican president who ran as a candidate as the most unpopular candidate in the modern history of this country. Republicans control the House, the Senate, two thirds of governors’ chairs.”

“And in the last eight years, they have picked up 900 legislative seats,” Sanders continued. “Clearly the Democratic Party has got to change. And in my view what it has got to become is a grassroots party. A party which makes decisions from the bottom on up. A party which is more dependent on small donations than large donations. A party… that speaks to the pain of the working class in this country.”

Sanders, who ran against former Secretary of State Hillary Clinton for the Democratic presidential nomination in 2016, is on a “unity” tour across the country with Democratic National Committee Chairman Tom Perez to reinvigorate the Democratic base. The Vermont senator said the party must “take the lead” on issues that matter to the working class to increase voter turnout and “regain control of the United States Congress.” He failed to mention this is unlikely to occur with the billionaires in control of the party.

“So what we have got to do and what Democrats have got to do is go all over this country, start getting into those red states which have been ignored for decades, start growing the voter turnout,” Sanders said. “Having an agenda which brings people together to say that, ‘In the richest country in the history of the world, yeah. You know what? We can have health care for all people as a right. We can raise the minimum wage to $15 an hour. No, Donald Trump is not right. Climate change is not a hoax. It is a major planetary crisis.’”

Of course, none of this is going to happen until the next recession begins this summer because the billionaires don’t want it to occur. After the brunt of the recession begins to hit in earnest some months later, voters of the Democratic Party will hopefully chase out the billionaires because a series of grassroots movements has already formed though they have not coalesced except to be anti-Trump. This, of course, means these movements against Trump have a striking resemblance to the Tea Party that dogged President Obama during his eight years. The Koch Brothers primarily fund the Tea Party and exercise significant control over its leadership.

The problem with many of the grassroots who are involved in the Democratic resistance to President Trump is what also ails Tea Party grassroots members, which was an attitude of “Obama bad, anything Republican good.” Many members of the Democratic grassroots resistance follow a similar small minded path, only it’s “Hillary good: Trump bad,” and “Democratic Party run by billionaires good; Republican Party run by different bunch of billionaires bad.”

Too few of these people don’t realize they need to kick the billionaires and millionaires and their plutocrats like Hillary and Bill Clinton out of the Democratic Party. If they fail to achieve this, they will simply be used by the billionaires who control the Democratic Party to defeat Donald Trump in the next presidential election rather than cleaning their own house. The corruption in both major political parties stinks like two pigsties.

When Tom Perez became Chairman of the Democratic Party by defeating Democratic Minnesota Congressman Keith Ellison the grassroots lost to the billionaires, and many of them didn’t even know it. This means the grassroots resistance has yet to influence the Democratic Party in any meaningful way. This suggests that if the Democratic Party bosses successfully use the grassroots resistance to unseat Donald Trump in 2020, it’s still going to be business and corruption as usual.

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US Congressional Representative Keith Ellison represents the US middle class in the fifth district of Minnesota, and he is absolutely correct when he utters the sentence above. Corporate trade treaties have virtually nothing to do with trade, except that which is coincidentally negotiated to pretty them up enough to make them appear as trade treaties. However, these treaties are negotiated with an eye to redistribute income from the 99 to the 1 percent, whether raising prices has been negotiated, or shipping jobs overseas, or whatever.

When US jobs are shipped overseas, the difference between the old higher rates and the new lower rates go straight into the pockets of the 1 percent via higher corporate earnings, rising share prices and enhanced dividends. And that goes for year after year so long as those jobs exist. The losers of the jobs might get lucky and receive a little unemployment insurance and lower wages.

A US citizen named Joe might see his $54,000 a year jobs shipped overseas. A guy named Ming gets that job and it pays $4,000 a year. The difference between the two jobs is $50,000 a year. Say that job exists for 20 years. $50,000 times 20 years equals a million dollars now going to the 1 percent, whereas the same job would’ve paid Joe $1,080,000 over twenty years. Over that span of time one million dollars will been redistributed from the 99 to the 1 percent.

That’s called income redistribution and some of the architects in congress stealing from the middle class and giving to the rich are Wall Street Senators Ron Wyden, Orrin Hatch and Mitch McConnell, Wall Street Congress people Nancy Pelosi and John Boehner, as well as President Barack Obama.

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Trickle down economics was enacted with the intention to redistribute income from the 99 to the 1 percent. Once the rich received their tax cuts, they used that money to push so-called free trade treaties to ship jobs overseas, and redistribute the difference between the old higher wages in the United States and the new lower wages overseas into the pockets of the 1 percent via higher corporate profits, rising dividends and surging share prices. Ergo, trickle down destroyed American jobs, more than 30 million of them from 1992 to the present, alone.

The figures above go only to 2010. Job losses via free trade increased in 2011-2013, and in the millions. Ergo, free trade scams and China’s most favored nation status have shipped over 30 million jobs overseas since 1992.

Now President Obama and Wall Street Senator Ron Wyden want to redistribute more and more jobs and ensure that Wall Street financial transactions are not regulated via the Trans Pacific Partnership, the biggest corporate giveaway in history, according to US House member Keith Ellison, who opposes it. The treaty will also jack up prices the 99 percent pay on many commodities, such as pharmaceutical drugs, and the difference between the old lower prices and the new higher prices will be redistributed to the 1 percent via higher corporate prices, rising share prices, and surging dividends. I thought free markets and free trade treaties were supposed to bring about lower prices. What’s going on here?

Anybody with half a brain can see there’s a problem here. So why doesn’t Wyden? Is he corrupt or just a “useful idiot” of Wall Street? I’ll give you a hint. The answer is obvious.

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It shouldn’t be called a Robin Hood tax. It should be called an anti-corruption tax. I’m talking about a tax on stock transactions. Since the government has to regulate these transactions because of massive fraud that has occurred now and then, a tax on stock transactions makes sense, and not just from an anti-corruption point-of-view. It makes sound economic sense.

Massive hedge funds (non-regulated investment banks that can’t quite do everything an investment bank can), or even smaller investors, can sell off millions or even billions of dollars of any corporation’s stock that they hold. One single Hedge Fund CEO can make this decision. Say, in this case, it’s the stock of Google that is the victim.

The actions of the hedge fund CEO pushes the price of Google’s stock down from say, $1027 to $500 a share. This could cause a panic among other shareholders, and possibly push the price down even further via a massive sell off. This forces Google’s CEO to attract buyers to Google’s stock by raising dividends per share. He does this by calling upon retained earnings. By increasing Google’s return on investment this way, this should attract buyers to Google’s stock, but a decline in Google’s retained earnings leaves it with less money for such emergencies in the near term.

To get ready for such an emergency, the CEO has to lower costs, and that is typically labor costs. This means shipping US jobs overseas, as well as reducing employee wages, salaries and benefits. Of course, we’re talking about redistributing income from the 99 to the 1 percent. That’s all that Wall Street does. That’s what it’s in business for.

If there is an anti-corruption tax on stock transactions, of say 1 to 5 percent, a Hedge Fund CEO would be less likely to leverage their power in the financial markets, which typically means a loss of jobs and the weakening of the underlying economy.

This is especially important nowadays because the relationship between the investors of the 1 percent and the rest of the economy is as it has always been; it is akin to a parasite unto its host. Unfortunately, the parasites of the 1 percent have greatly weakened the host, which is the 99 percent. In fact, the parasites are killing the host nowadays. That’s why there should be a Robin Hood Wall Street Anti-Corruption Tax as the former Goldman Sachs manager says below in the video.

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Federal Budget Cuts That Make Sense

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