Showing posts with label Joblessness. Show all posts
Showing posts with label Joblessness. Show all posts

Tuesday, November 1, 2011

What the Occupy Movement is all about

Fifty percent of American workers earned under $26,364 in 2010.  Those making $1 million-plus skyrocketed more than 18 percent from 2009.  These are figures from the Social Security Administration, and the reason why people have taken to the streets to protest this economic inequity.  The Occupy Movement focuses on the individual, as compared to the Tea Party, which, although individually inspired, makes its case for less government, thus less regulation, thus more corporate greed.

Some of those TPers on TV don’t look like fat-cats to me so you might wonder if they are following a cause, or just have a radical conservative ring in their nose.  I vote for the latter.  When a movement openly admits it would rather shut down the government than give any ground in negotiation, that’s clearly a bunch of nutcase renegades that are out of control and anti-American.  Do these twits know that compensation for the CEOs of the country’s largest corporations is up 28 percent in 2011, while those at the bottom still struggle desperately?

The Economist says that the rage of the populists against government surpasses that toward Wall Street.  With the infrastructure of American business and government crumbling like it is, it almost mirrors the decline and fall of the Roman Empire.  In studying the Occupy Movement, the magazine says: “Populist anger, especially if it has no coherent agenda, can go anywhere in times of want.”  It mentions the 1930s as one example, but most recently, the Tea Party.

The number of Americans with jobs fell again last year with 5.2 million less jobs than in 2007 when the deep recession began.  According to the Census Bureau, 5 percent of national income has moved from the middle class to the most-wealthy households.  Who can blame the Occupiers if all they want is to balance the act by simply getting a job, having something to eat, and providing a roof over their heads.  This isn’t anarchy, this is survival. 

Forbes magazine says the Occupy protesters are at the wrong place.  Instead of Wall Street, where not one “bankster” is in the top ten paid CEOs, they should be camped outside companies like health-care systems provider McKesson or others sure to benefit from health reform like ExpressScripts and United Health Group.  Their CEOs are expected to earn $131 million, $51.5 million and $48.8 million respectively.

 

Then there’s Ralph Lauren of Polo at $66.7 million, Michael Fascitelli from Vornado Realty at $64.4 million and Bob Iger of Walt Disney raking in $53.3 million.  One you might have expected to be in the highest ranks of paid executives in the world actually came in at basement bargain rates.  That’s Big Oil chief Rex Tillerson who heads ExxonMobile who makes a paltry $13.9 million.  So what we find here is more economic inequity, even within the ranks of the millionaires.  Poor baby.

In European countries like Britain and France the Social Democrats have found bashing the banker and the wealthy too good to resist, according to The Economist.  They’re looking at tariffs and a supertax on the rich the magazine questions as possibly making things worse.  President Obama’s current situation is given as an example.

And if austerity always goes along with protest as TE states, are we in for yet more tightening of government purse strings and economic inequity?  Or is this all simply a part of the far-right conservatives’ plan to eliminate government control completely and set up an autocratic system?  Should that happen, will all the Occupy demonstrators simply go home or are we in for something much worse?

Friday, October 14, 2011

American public wants President Obama’s tax on wealthy

It was the expected outcome and the Senate blocked Obama’s jobs bill with all Republicans voting against it primarily due to the 5 percent tax on the rich that was included.  But just a day after the vote, an NBC/Wall Street Journal poll says Americans want our government to tax millionaires to get the job market moving.  What makes this so appalling is the fact that the GOP has put their stupid ideology of no taxes over the wishes of their constituents. 


When asked the simple question should Congress pass the legislation, 30 percent said yes, 22 percent no.  But when given the details of how the bill would help the jobless by cutting payroll taxes, funding new road construction, and extending unemployment benefits, 63 percent favor the bill, only 32 percent oppose it.  At the same time they were told it would financed by a tax on the wealthy.
 
Additionally, 64 percent think the rich cats and corporation should definitely pay their fair share.  On the other side of the issue, 31 percent think taxing the rich and corporations is bad, saying it will take away money that would be invested to grow the economy.  It is interesting that 20 percent of those polled were by cell phone, thus, probably a younger group.  Regardless of the mix, the public has made its statement, and many will remember come 2012.

The numbers these political hacks—including 2 Democrats that did not support the President’s Jobs Bill—will have to face are 6 million Americans whose unemployment benefits will run out in 2012, some as early as January.  Although the Millionaire Tax may be another step toward Social Democracy (like Social Security and Medicare), drastic measures are needed in the current economy, and it is time that the U.S. begin the level the playing field between the wealthy and the working class.



The unemployed have been out of work now an average of 40.5 weeks, a record as of this past September.  And there are economists that claim extending the jobless benefits would stimulate the economy since the money is usually spent right away.  In the first instance, those with benefits ending in January 2012 will be out of luck if the deadline to file isn’t extended.  This also applies to those currently receiving federal benefits.

Republicans say they will pick and choose parts of the bill to pass on their terms, but it is time for President Obama to stand firm and demand the 5 percent tax on the rich with the assurance the American people are behind him.  In my opinion, his rapid drop in some polls is due to the fact that he hasn’t dealt with the GOP in a forceful way, and it could have a major effect on his reelection in 2012.  Right now it isn’t about politics, it’s about putting people back to work.

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