There’s a coming economic storm the likes of which we haven’t seen since the Great Depression. This disaster has been brought on by a government corrupted by the money of the 1 percent, and the legislation and international agreements they’ve bought in the political markets that make up the US senate, US house of representatives, and the White House.
Obviously, a New Deal for all Americans is coming within the next five years. As I’ve been predicting, the disaster will officially strike most likely between October 2016 and June 2017. The full impacts will not be felt for many months afterward. The corporate propaganda machine will, quite naturally, try to distract our attention from the economic tsunami by claiming that the victims were the perpetrators of this heinous mess. The American Enterprise Institute knowingly and falsely blamed the last disaster on the victims.
The question now is, “What should this new deal look like?”
Obviously we want to halt the rise of income and wealth inequality that has been ongoing for the last thirty-five years. The first thing that needs to be done is stop the Trans Pacific Partnership (TPP). The TPP is an international income and political power redistribution scam on steroids. Tens of millions of US jobs will be exported because of this Wall Street scheme. See The TPP-The Op-ed the Corporate Press Doesn’t Want You to See–JohnHively.wordpress.com
The difference between the higher US pay and the new lower overseas pay will go straight into the pockets of the rich via higher corporate profits, rising dividends and a stock market bubble.
The Economic Policy Institute also has some ideas.
* Use the levers of macroeconomic policy (monetary, fiscal, and exchange-rate policy) to target genuine full employment.
* Make investments that markets are not making—in early childhood education, infrastructure, school construction, energy efficiency, and public health care.
* Strengthen antitrust regulations and look for other opportunities to introduce competition to private markets, such as public options for health insurance and retirement savings. Why is this important? Check out The Big Banks are Manipulating the Housing Market–JohnHively.wordpress.com.
* Reregulate many activities of the financial sector to squeeze out the activities that don’t enhance productivity or create efficiency but simply enrich well-placed actors within finance. A financial transactions tax is the clearest example of a policy that can stop this income skimming.
* Enact climate-change mitigation measures—realizing that policies beyond simply increasing the market price of greenhouse gas emissions can play large and useful roles.
* Strengthen regulations and institutions that help shift bargaining leverage from capital-owners and corporate managers to low- and middle-income workers. Key examples include higher minimum wages and labor law reform that allows willing workers to join unions and bargain collectively.
We should also,
- Strengthen laws making it easier for labor unions to form and negotiate.
- Boost the maximum minimum wage to $15 an hour.
- Put a progressively higher tax rate on income of up to 90 percent, end tax loop holes that allow individuals and corporations to hide money from the tax collector in overseas tax havens.
- Pass legislation allowing for government funding of political campaigns rather than allowing the highest bidders determine the candidates we choose, or reenact campaign finance laws which stood for over a hundred years until the corrupt corporate wing of the US Supreme Court overturned them with Citizen’s United.
- End the nonsense that corporations are somehow people via an honest Supreme Court or a Constitutional amendment.