Feeds:
Posts
Comments

Posts Tagged ‘wealth distribution’

A new congressional study suggests that massive immigration increases in recent decades have hammered middle-class wages. Whether through taking jobs or casting votes, hyper-immigration is revolutionizing the U.S.

We are a nation of immigrants, it is often reflexively said. But it is a little-known fact that our foreign-born population dropped more than 11% in the quarter century after World War II.

Since 1970, however, we have become a nation of hyper-immigration, as the foreign-born among us have exploded from fewer than 10 million to more than 41 million as of 2013 — a staggering 324.5% increase.

If a job cannot be exported, then immigrants are encouraged by business and government leaders to enter the United States to generate greater competition among middle class workers, which lowers wages and benefits. For example, a recent study shows that three out of four high tech workers are unemployed in their areas of expertise, and wages in the high tech sector are the same as during the early 1990s, and yet congressional leaders want to admit more immigrants via the H1-B visa. In this way wages and salaries will continue to stay artificially low, which benefits the 1 percent at the expense of the middle class.

The difference between the old higher wages (what wages should be under normal immigration increases) and the new lower wages with hyper immigration, goes straight into the pockets of the super rich via higher corporate profits, rising dividends and soaring share prices.

The middle class is getting hammered by the loss of millions of jobs that are exported via international agreements falsely marketed as free trade agreements. But the middle and lower classes are also getting hammered by hyper immigration. These two governmental policies are income redistribution scams perpetrated by the leadership of both major political parties and their billionaire and corporate sponsors, such as the Koch Brothers and Warren Buffett.

How badly has immigration and free trade policies been for the middle and lower classes?

“A new analysis from the nonpartisan Congressional Research Service for the Senate Judiciary Committee finds that during this era of free trade and hyper-immigration, incomes of the bottom 90% of Americans flat-lined, then dropped starting in 2000. By comparison, middle-class wages increased between 1945 and 1970.

Last year, Karen Zeigler and Steven Camarota of the Center for Immigration Studies found that, according to federal government data, “since 2000 all of the net gain in the number of working-age (16 to 65) people holding a job has gone to immigrants (legal and illegal).”

In the fourteen plus years since 2000, less than six million net jobs have been created in the United States, and all of them have gone to immigrants. On the other hand, according to the Federal Reserve, 28 million jobs were exported from the USA from 1990 to 2010, and several million more have been exported since 2010.

Salaries, wages and benefits would be going up if the United States had six million less working age immigrants. More significantly, however, US wages would be surging and our tepid economy would be booming if those trade agreements hadn’t been conceived. In both cases, trade agreements and immigration, income and wealth inequality in the USA would not be nearly so significant as it is now.

While so-called international trade agreements are the major cause of the income and wealth inequality of the last thirty-five years, with the 1 percent going from taking 8 percent of all income created in the USA in 1980 to 37 percent today, immigration (legal and illegal) is another, though admittedly lesser, but still significant, culprit in the financial war the super rich are waging against the middle class.

The Trans Pacific Partnership (TPP) is the largest income redistribution scam of all time. It is falsely being marketed as a free trade treaty. The Wall Street wing of the Democratic Party, led by President Obama and Wall Street Senator Ron Wyden, have merged with the Wall Street wing of the Republican Party. The TPP will provide incentives for US corporations to ship millions of US jobs overseas, and drive millions of Latin American immigrants illegally into the United States simultaneously, just like NAFTA did.

That’s why the TPP is another income redistribution scam for the 1 percent.

Read Full Post »

The 1 percent stole about 21 percent of all income produced in the United States in 2009, up from about 8 percent back in 1980. Now the 1 percent are stealing 36.6 percent of all income growth through the third quarter of 2014.

The economic game has been rigged even more by the 0.01 percent via legislation since 2009. Academic studies show that 95 percent of all income since 2009 have gone into the already fat wallets of the 1 percent.

Some simple math shows some interesting things.

According to the US Bureau of Economic Analysis, Americans earned a little over $12 trillion of income in 2009. All studies showed the 1 percent were stealing about 21 percent of that total, or about $2.5 trillion of that.

The total income produced by the people of the United States increased to more than $15.2 trillion in 2014.

Take that $15.2 trillion and subtract the $12 trillion produced in 2009. That’s $3.2 trillion. The 1 percent have used legislation to steal 95 percent of that $3.2 trillion, which means they’re stealing more than $3 trillion of that growth.

Now simply add the original 21 percent from 2009, which equals $2.5 trillion, and add the $3 trillion the 1 percent have been getting since 2009.

$2.5 trillion
+ $3.0 trillion

equals

$5.5 trillion going to the 1 percent

That’s out of the $15.2 trillion of total income produced by everybody and every business in the United States. In other words, roughly 36.67 percent of total national income goes to the 1 percent, compared to 8 percent thirty-four years ago.

This inequality is why demand for goods and services are so weak, which is why the economy is so historically weak. The 99 percent has considerably less money to spend on goods and services.

President Obama, along with Wall Street Senators Ron Wyden, Orrin Hatch and Mitch McConnell want to give even more of the national income to the 1 percent via the Trans-Pacific Partnership (TPP), the largest income redistribution scam in US history.

Among other things, the 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.

* 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.

Read Full Post »

Wealth are the things that you own; cars, homes, furniture, stocks, bonds, politicians of both political parties, such as Wall Street senators Ron Wyden and Mitch McConnell. The maldistribution of wealth you see in the film above is almost entirely a function of income redistribution from the 99 to the 1 percent. Federal, state and local legislation are used to achieve this redistribution. Corruption runs rampant in all levels of government. Such legislation as corporate trade treaties, deregulation and privatization scams are the culprits. Expect income and wealth to continue to be redistributied from the 99 to the 1 percent through the free trade mechanism, the latest of which is the Trans Pacific Partnership. Studies show the bottom 90 percent of US citizens will take pay cuts with the treaty, and the difference between your old wages and your new lower wages will go into the pockets of the rich via higher corporate profits, rising dividends and soaring share prices. They 1 percent will then purchase more mansions, limos, stocks, bonds, politicians and legislation with the money they’re going to steal from you with the Trans Pacific Partnership, then they’ll rig the game more to steal even more of your money.

Read Full Post »

The US senate passed a comprehensive immigration reform bill several days ago. The bill calls for amnesty for somewhere between eleven and twenty-five million undocumented immigrants in the US, which will be granted over a period of thirteen years. Some of the provisions of the bill include the payment of back taxes, increased border security (such as more fences) and an end to family ties as a determining factor for future immigrants.

The bill looks like it was written by Wall Street and the 1 percent, most likely because it was. Wall Street and the 1 percent derive all the benefits; undocumented immigrants and the rest of the 99 percent will pay the price. The propaganda machines of the proponents of immigration reform, some of which are non-Wall Street, are on the march.

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 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 consumer more. That will be offset, however, because the rest of us will be consuming less, according to an analysis of the bill by the non-partisan Congressional Budget Office (CBO). According to the CBO, everybody’s wages and job opportunities will decline with the deal. 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, the senate bill will depress 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.

Immigration reform will also push the unemployment rate higher than it would otherwise be through 2031. Currently, the real unemployment is somewhere between 13 and 15 percent, which is higher than the official rate of nearly 8 percent. In other words, the 99 percent is living during a low grade depression and the government intends to increase unemployment. Immigration reform will force more and more people to compete for a smaller number of jobs, and this will drive wages down.

This same process also occurred after the amnesty granted undocumented immigrants in December 1986. Wages immediately began to plummet for the next six years and didn’t recover to their 1986 level until 11 years later.

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 and bonds.

In other words, immigration reform has been written to ensure Wall Street and 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.  That issue will be taken up in part two.

All the government really has to do is enforce the laws written in 1986, or it could pass out green cards to legalize the undocumented, place them in line for legal immigration status, and when their number comes up, grant them citizenship.  That, however, is too easy, and not all that profitable for Wall Street and the 1 percent.

Read Full Post »

80 percent of Democrats and 100 percent of Republicans in congress and in the white house represent only the interests of their factions of the 1 percent, corporations and Wall Street. That’s why both parties exclusively create and enact legislation on the federal level that redistributes income from the 99 to the 1 percent, such as free trade treaties.

To divide us against our common enemies, which is both major political parties, they play a game. It’s called divide and conquer via social issues, such as gun control, gay marriage, abortion, flag burning, race, ethnicity, illegal immigration, legal immigration, and everything else you can think of.

The golden rule dictates why this has happened in Washington D.C.; he who has the gold makes the rules. Restore democracy and end dictatorship of the rich by getting money out of politics.

And by the way, it has become quite obvious, that on pretty much all legislation that redistributes income from the 99 to the 1 percent, and any other piece of legislation that helps to sustain this, such as the NSA domestic spying program, the US Supreme Court will always side with big money regardless of what the US Constitution or any US laws say. That’s why we’re playing in a rigged game.  That’s why President Obama sides with Monsanto against the health of the American people, that’s why the government coordinated the attacks on Occupy Wall Street…..etc….

Read Full Post »

What does a Person do for a living to make them worth more than 375,000 people? Like parasites, they suck millions of people financially dry by buying legislation and politicians.

Read Full Post »

Martin Luther King Jr. began a war on poverty and lost his life in the process. However, when King was assassinated in 1968, the 1 percent received about 8 percent of the nation’s total yearly income and owned roughly 8 percent of the nation’s assets. Now those figures for the 1 percent are roughly 32 percent of income, and 42 percent of all wealth. Those figures continue to grow because the 1 percent own the federal government and use it like a customer would a prostitute. For more on King and his war on poverty, check out the links below.

Read Full Post »

Older Posts »

%d bloggers like this: