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Posts Tagged ‘Mitch McConnell’

Adding to the mountain of statistical evidence showing the severity of U.S. inequality, an analysis by of the United States Federal Reserve Bank showed that the top one percent of Americans have gained, or rather stolen using political and media corruption, $21 trillion in wealth since 1989 while the bottom 50 percent lost $900 billion.

Matt Bruenig, founder of the left-wing think tank People’s Policy Project, broke down the Federal Reserve’s newly released “Distributive Financial Accounts” data series and found that, overall, “the top one percent owns nearly $30 trillion of assets while the bottom half owns less than nothing, meaning they have more debts than they have assets.”

Wealth is made up of assets, such as stocks, bonds, and houses. Income is the money that comes to you either via government programs, your jobs, or from your assets, such as dividends.

The growth of wealth inequality over the past 30 years, Bruenig found, is “eye-popping.” This income and wealth inequality has been brought about by the political corruption of all three branches of the United States government by the 1 percent using their control of both major political parties.

“Between 1989 and 2018, the top one percent increased its total net worth by $21 trillion,” Bruenig wrote. “The bottom 50 percent actually saw its net worth decrease by $900 billion over the same period.”

Much of the increase in inequality is due to international trade agreements, which have allowed U.S. corporations to export millions of American jobs to third world nations. The difference between the old higher US pay and other compensation goes straight into the pockets of the 1 percent via higher corporate profits, dividends and share prices.

This suggests you ought to vote for Bernie Sanders or Elizabeth Warren for presidents.

Wall Street executives already have Joe Biden and Donald Trump, along with the corrupt corporate wing of the United States Supreme Court, and such US Senators as Ron Wyden and Mitch McConnell tucked away in their back pockets. These folks do not represent you.

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Sen. Elizabeth Warren cited recent Pew Research Center polling that found only 18% of Americans say they can trust the U.S. government to do the right thing to unveil her Anti-Corruption and Public Integrity Act on Tuesday.

It is well known that the rich, their corporations, and their lobbyists have bought almost every member of the United States House of Representatives and almost every member of the Senate since 1981, which include such corrupt blowhards as RepubliCons Orrin Hatch, Mitch McConnell and Democrat Ron Wyden. Since 1981, every United States president has bent to the desires of the well-to-do on all matters having to do with redistributing income and wealth from the 99 to the 1 percent. Wyden, Hatch, and McConnell have voted to redistribute income and wealth from the 99 percent to the rich and powerful time and time again when they voted to export millions of jobs held by United States citizens via trade agreements.

The difference between the old higher US wages and benefits and the new three dollars a day jobs in foreign nations goes straight into the pockets of the super-rich via higher corporate profits, rising share prices, and surging dividends. The newly unemployed in the U.S. might get unemployment insurance for a few months if they are lucky.

Political corruption is precisely why income inequality has grown from the 1 percent receiving 8 percent of all income produced in the USA in 1980 to 37 percent today, and why three people own more wealth than the bottom 50 percent of the U.S. population, and why the 1 percent owns more wealth than the bottom 90 percent.

Warren’s plan provides a lifetime ban on lobbying by former members of Congress, Presidents, and agency heads and banning foreign lobbying and lobbyists donations to candidates and members of Congress.

Warren’s bill seeks to eliminate both the appearance and the potential for financial conflicts of interest by banning members of Congress, cabinet secretaries, federal judges, and other senior government officials from owning and trading individual stock, including requiring the Supreme Court follow the ethics rules applicable to all other federal judges. One study has found that members of the U.S. Supreme Court rule in favor of companies they invest in.

Warren advocates “locking the government-to-lobbying revolving door” and eliminating the “golden parachutes” that companies pay some executives when they enter public service, citing the instance of Goldman Sachs paying Gary Cohn more than $250 million when he left the firm to lead President Trump’s National Economic Council.

Warren’s legislation also aims to end what she characterizes as the corporate capture of public interest rulemaking by requiring disclosure of funding or editorial conflicts of interest when corporations and special interest groups pay for comments and studies that support rulemaking, as well as requiring elected officials and candidates for federal office to disclose more financial and tax information and making federal contractors – including private prisons and immigration detention centers – comply with federal open records laws.

A lot more can be done to end corruption in the U.S. government. Banning the paid speeches made by former presidents and high officials is a starter. Bill and Hillary Clinton and Barack Obama get $250,000 a pop for half-hour paid speeches. Who is to say the lure and promise of future profits do not influence the choices made by people in high office? In addition, the government could limit the amount of funding of political campaigns provided by political action committees, corporations, and individuals. However, the corporate wing of the United States Supreme Court has been so corrupted by the inflow of cash and favors and class warfare mentality in favor of their social and economic class, that they eliminated one hundred years of legal precedent in the Citizens United case of 2010 that limited contributions as outlined in the sentence above. Reversing that, and successfully impeaching the corrupt corporate wing of the Supreme Court would go a long way toward ending the massive wave of political corruption that has swamped the United States governments at all levels like rising tides of overflowing cesspools.

For the complete story, see Elizabeth Warren Proposes Ways to Fight Political Corruption–MarketWatch.

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The Communist Party of the United States never amounted to more than a few thousand people. The Socialist Party of the United States, quite different from the Communist Party, peaked in 1912 when presidential candidate Eugene Debs received 6.0 percent of the popular vote. The socialist party went downhill from there, and never really was a political threat to the two major corporate political parties. The political left of the United States has been effectively dead for decades in terms of communists and socialist. So who makes up the political left nowadays? And who is on the political right?

The political left is the 99 percent, while the political right is made up of the billionaires, their corporations, their corporate media, the two major political parties they own, their allies in political office, their anti-U.S. Constitution corrupt corporate wing of the United States Supreme Court (John Roberts, Samuel Alito, Neil Gorsuch, Brent Kavanaugh, and Clarence Thomas).

In the days of yore, during the Great Depression, the left came up with socialist legislation, such as the 40-hour work week, social security, the minimum wage, labor union organizing rights, unemployment insurance, and so on. The right tried to prevent these things, and as President Franklin Roosevelt noted in 1936, the millionaires previously in control of the government and both major political parties wanted everything as it had been before the Great Depression. The millionaires wanted nothing for the 99 percent. They wanted to be in charge so to use government as an appendage of their own corporations, and let political corruption run rampant, just like the billionaires today in the United States.

In the aftermath of the Great Depression, when all those socialist programs were put in place, the United States middle class thrived. The middle and lower economic classes even won political battles, such as ending racial segregation, terminating the profitable war in Vietnam, winning the battle of the environment which industry lost, winning women’s rights, etc….

The 1 percent felt threatened enough to organize among themselves, using their corporations, and creating propaganda think tanks, such as the Heritage Foundation, and by 1975, the rich began a massive propaganda campaign, along with corrupting both major political parties and the United States Supreme Court into giving them more rights and a vast array of political victories over the 99 percent, especially when it comes to redistributing income and wealth from the 99 percent to themselves.

The rich use social issues to divide us, and keep our attention from the redistribution of income and wealth from us to them, led by such politicians as Wall Street Senator Ron Wyden, and Wall Street Senator Mitch McConnell. The billionaires who own the Democratic Party and the billionaires who own the RepubliCon Party often work together to redistribute income and wealth from the 99 percent to themselves, such as pushing legislation to export millions of jobs, while simultaneously using their corporate news media to divide the 99 percent via social issues, such as abortion, racism, the war against Christmas, the war against women, and the war against dirty diapers.

There you have it: the political right is made up of the billionaires and millionaires, and the political left is made up of the rest of us.

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The US is dominated by a rich and powerful elite. So concludes a recent study by Princeton University Prof Martin Gilens and Northwestern University Prof Benjamin I Page. So what? Everybody already knew that.

Perhaps, but the two professors have conducted exhaustive research to try to present data-driven support for this conclusion. Here’s how they explain it:

Multivariate analysis indicates that economic elites and organized groups representing their business interests have substantial independent impacts on US government policy, while average citizens and mass-based interest groups have little or no independent influence. In other words, the wealthy few determine public policy, while the average American has no power, and very little of it when organized in large numbers.

This is precisely why there is little or no movement in government policy in the non-battle against climate change.

Yesterday, Senate Democrats largely held together in boycotting what they decried as a “sham” vote forced by Republicans on the ambitious Green New Deal. The vote on the procedural motion failed on a 0-57 margin, with 43Democrats voting “present” to protest the GOP tactics. Just three Democrats — Sens. Doug Jones (Ala.), Joe Manchin (W.Va.) and Kyrsten Sinema (Ariz.) — broke with their party to vote against the proposal for massive clean energy and infrastructure investments to rapidly slash greenhouse gas emissions and attempt to break economic inequality. The rest voted present, including six presidential candidates who co-sponsored the non-binding resolution S.J. Res. 8. Sen. Angus King (I-Maine), who caucuses with Democrats, also joined Republicans in voting no on Tuesday.

Quite naturally, Congresswoman Alexandria Ocasio-Cortez railed against the do-nothing representatives of the rich, which can be seen in the video above.

Something else needs to be mentioned. The rich own the news media as much as they own politicians like Republican Senator Mitch McConnell and Democratic Senator Ron Wyden, and we the people only get the news and opinions the rich want us to see.

BBC – Oligarchy in Charge of the United States

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There they go again. Congresswoman Alexandria Ocasio-Cortez (AOC) recently suggested the United States should raise the top marginal tax rate on the rich to over 70 percent. Republicans, naturally, have attacked her as being crazy, although all the evidence points toward higher marginal tax rates on the rich produces a stronger United States economy for all citizens, not just the rich ones.

As you can see from the graph above, the higher the tax rate on the rich, the stronger is GNP growth. The same can be said for jobs and wage growth. It can also be pointed out that when the rich have fewer dollars to spend, they have less spare change to bribe politicians with political contributions.

The only crazy people out there on this issue are Republicans, as usual, performing their jobs as lying lap dogs of the rich. As I have been saying for years, there is not a shred of evidence that suggests, as the Republican Party lap dogs proclaim, that lowering taxes on the rich has created a single job, and you can see that from the graph.

There is a ton of evidence in the form of peer-reviewed studies that show AOC is correct.

Paul Krugman recently wrote, “Republicans almost universally advocate low taxes on the wealthy, based on the claim that tax cuts at the top will have huge beneficial effects on the economy. This claim rests on research by … well, nobody. There isn’t any body of serious work supporting G.O.P. tax ideas, because the evidence is overwhelmingly against those ideas.”

Reducing taxes on the rich have always reduced gross domestic product, wages, and job creation. It also creates income and wealth inequality since the rich have more income to burn at buying both Republican and Democratic Party lap dogs, such as Mitch McConnell and Ron Wyden. These guys have voted time and again to redistribute income from the 99 to the 1 percent.

The Case for a Progressive Tax: From Basic Research to Policy Recommendations-Journal of Economic Perspectives

Why one editor won’t run any more op-eds by the Heritage Foundation’s top economist–Columbia Journalism Review

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The United States Senate Majority leader is a moron and or a liar; his name is Mitch McConnell. Want to know how far we have come from being a nation with many relatively honest politicians to the flaming liars of today? Check out the video below. McConnell rightfully claims the United States yearly debt is rising. This was caused by the Trump/McConnell tax cuts of last year, which mainly went to the rich and their corporations, and starved the US government of funds.

McConnell, however, blames Social Security, Medicare and Medicaid. In the video below, the late President Ronald Reagan calls it as it is with regard to Social Security. It is not part of the federal budget and does not contribute to the federal deficit.

Think about how far the Republican leadership has come down to where the Senate majority leader feels he needs to lie to the press and people. The Democratic Party leadership is just as guilty. It is all a big game of lies played by the two major political parties and much of the corporate news media.

I should like to point out that President Reagan was not noted as a truth teller, but compared to the corruption we have today in both major political parties, sometimes the former president can be a breath of fresh air.

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Charles Koch wants economic freedom. He has spent hundreds of millions of dollars to reach that end. Hundreds of millions of dollars have gone to universities, politicians, think tanks, political action committees, the Federalist Society, and on and on in order to influence public debate on issues dear to himself and his business, Koch Industries. The money has also gone to elect politicians true to his cause. But what does economic freedom mean?

Economic freedom means Koch wants billionaires and their corporations to be able to take people’s property by using the power of government to force property owners to sell their land so that the Koch pipeline, otherwise known as the KXL pipeline, can be laid.

So what if you develop breast or other cancers because of industrial toxins Koch Industries puts in the air, land and water? Let economic freedom ring by letting the market decide the issue.

Child labor laws are an impediment to economic freedom and must be done away with.

Health and safety laws impede the economic freedom of billionaire investors and must be eliminated.

Rivers that are so polluted they catch fire with a match clearly demonstrate economic freedom. Policies must be enacted to ensure this economic freedom, which corporations once had, and which included the rivers and lakes of fires.

Not being able to pollute lakes so badly with industrial waste you can smell them for thirty miles impedes the economic freedom of billionaire investors.

Workers who combine their primary asset (their labor) into labor unions in order to bargain for higher compensation and better working conditions are impediments to economic freedom, but billionaires who combine their primary asset (their billions) into unions (corporations) ensuring they have less competition and greater profit are the most important of economic freedoms.

Koch’s actions demonstrate that he believes billionaires who control the mechanisms of government and both major political parties know what is best for everyone else, especially if their name is Charles Koch while the collective political actions of the woefully ignorant and lesser humans of the 99 percent to have their democratically elected government enact laws governing issues such as the above is frightfully silly.

Koch wants the market, which is regulated by billionaires and their corporations, to determine how polluted our air and water should be rather than allowing the people within a democracy to decide that issue with their votes.

Our current weak Wall Street regulations curb corporate profits and are therefore an impingement on economic freedom according to Koch’s logic. The real logic is that Koch wants Wall Street to have the legal rights to rip off everybody in the 99 percent and redistribute massive amounts of income and wealth from the 99 percent to themselves. And let the market (Wall Street decides the market rules) decide who the winners and losers will be. The reverse of this, of course, is to have freedom from Wall Street manipulation, and that freedom is something Charles Koch does not want the 99 percent to have.

Income inequality has grown as Koch’s vision as grown. The top 1 percent once received about 8 percent of the total income produced in the USA in 1980, and now they steal anywhere from 24 to 37 percent. That’s what Koch’s economic freedom has brought us. His economic freedom has only been achieved by turning our democracy into a plutocracy, which is a government of, by and for the rich only.

Actions speak louder than words. According to Nancy MacLean, in her book Democracy In Chains, Koch’s well funded proxy army used the threat of “…well-funded primary challenges” to force Republican Party elected officials to do his “…bidding or Lose their seats.” Koch’s well-financed proxy “was pushing out radical right laws ready to bring to the floor in every state through the American Legislative Exchange Council (ALEC). It was selling those laws through the seemingly independent but centrally funded (by Koch) and operationally linked groups of the State Policy Network. it was leveraging the anger of local Tea Party groups (founded with Koch money) to move the legislative agenda of Americans for Prosperity (funded by Koch) and Freedom Works (funded by Koch). Its state affiliates were energizing voter turnout with deceitful direct mail campaigns. Its elected allies were shutting down the federal government; in effect, using its employees and the millions who rely on it as hostages to get what they otherwise could not-and much, much more.”

Former US Supreme Court Justice Louis Brandeis, himself a wealthy man, once remarked, “We must make our choice. We may have democracy, or we may have wealth concentrated in the hands of a few, but we can’t have both.”

Our democracy is in shambles with both major political parties being controlled by concentrated wealth. We’ve been attacked by the Koch brothers, by the major news organizations, and by the billionaires who control the Democratic Party. They are winning this class war because of their financial clout to control politicians, such as Mitch McConnell and Ron Wyden, and their financial clout to determine the information we receive from the corporate news media, public and private universities, think tanks, and other sources of information.

The Koch brothers, however, are in the vanguard in waging both class warfare, and war against our United States democracy. The idea that people can limit his economic freedom, and Wall Street’s freedom to plunder and rape the 99 percent, is a horror to him. He does not know that the US government has been created for the common good,” as former President John Adams once wrote, “and not for the profit, honor, or private interest of any one man, family, or class of men.”

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