Showing posts with label Income Inequality. Show all posts
Showing posts with label Income Inequality. Show all posts

Saturday, March 12, 2016

How the Dark Side of Supply Side Unleashed the Zombie Apocalypse


The giant sucking sound came without warning, the sound of 1,400 jobs moving from Indianapolis, Indiana, to Mexico. “We recognize the impact on employees, their families, and the community,” announced the president of Carrier Corporation, the HVAC Division of United Technologies.

“Yeah, [expletive deleted],” an angry voice shot across the room.  Following three consecutive years of record earnings, plus a $12 billion stock buyback, the layoff was a shock, an act of betrayal. The giant sucking sound hardly made the evening news; but we hear it everyday in communities across America:

“Monday, Monday, so good to me;
Monday morning, it was all I hoped it would be.”

The kids, the car, the home, how will you pay bills without a job and keep your family afloat?  Desperate to find work, any work, part-time or full time, neighbors put off weekend chores to Monday.  Why Monday but no other day of the week, you ask?  Sometimes it just turns out that way.

Job or no job, good lawn mowers make good neighbors.  Cutting grass keeps up appearances and keeps peace in the neighborhood. Witness this exchange of greetings when neighbor meets neighbor at the mailbox:

“Good morning, Mr. Briggs. How are you today?”
“Mighty fine, Mr. Stratton. And yourself?”

How and when our fortunes changed is a tale of greed and deception run amuck. It started years ago when corporations and their political slush funds, also known as PACs, won the right to be treated as real people with full rights of personhood.

Suddenly, Lampposts, Manholes, and Utility Poles United sprang to life with special powers and privileges. Little did we know what was to be.

In short order, Manholes lobbied for tax cuts. As job creators, they claimed, tax cuts for Manholes would promote investment, economic growth, and jobs for everyone. No doubt, those tax cuts made Manholes rich; but no job falling into an open manhole has ever been seen again.

Tax cuts for Manholes have meant less revenue for our town.  To cover years of shortfalls and deficits, Lampposts in league with Utility Poles told the town council to cut services, slash payroll, and raise property taxes (which forced Mr. Briggs to sell his beloved home).

Years ago, when a Lamppost burned out, a service truck came to the neighborhood and replaced a bulb. This year, they say: “Buy your own bulb and replace it yourself.” Last year, Lampposts traded in their service truck for a Lexus. This year, they’re driving a Rolls Royce (and still demand a raise, a bonus, and more tax cuts).

Zombies United turned neighbor against neighbor. Manholes and Utility Poles persuaded the homeowners on Magnolia to scorn the homeowners on Dogwood — especially those who don’t look like, talk like, or vote like "their kind of people.”  Our once tranquil community, now divided in acrimony, no longer finds common ground to unite in common cause.

Legal but non-living persons now rule the neighborhood.  They failed to create a single job but reserve the right to shine flashlights in our bedroom windows at night.  These days, Lampposts wield more power and influence than real citizens whose votes no longer count.

Meanwhile, weeds have grown taller than utility poles, and ’for sale’ signs litter the neighborhood.  Enough, we say!  Forget the Lampposts, Manholes, and Utility Poles.  Forget those broken-down, trickle-down blues.  How I yearn for the smell of fresh cut grass, E Pluribus Unum, and friendly neighbors exchanging friendly greetings at the mailbox again.

“Monday morning, you gave me no warning of what was to be.
Oh, Monday, Monday, how could you leave and not take me?”


This ends our tale of how the American Dream left the station, leaving our middle class behind.  Reminder: Tuesday is the day we bring our trash to the curb … and head to the polls.

Monday, May 19, 2014

The myth of competition

I don't think I need Thomas Piketty to point out that massive conglomerations of  Capital and the drive toward monopoly are one of the failure modes of Capitalism in which consumers have not only fewer choices but less money to fuel the system.  Perhaps it's a bit like Stellar evolution where using up all the hydrogen causes bloat and eventual implosion. 

The traditional anthems sing about competition and opportunity, but in truth any capitalist enterprise wants to stifle competition and give competitors as little opportunity as possible and when the enterprise in question is control of information and opinion and even of desire and ambition in the public -- well the prospect of  media consolidation  in a country that depends on that industry for its information and opinion is simply frightening.   We might as well just hand over the keys to the Capitol along with our proxies when elections here become as much of a one party farce as those we used to laugh at in other countries.

AT&T plans to buy out DirecTV in a 67 Billion dollar deal and while current DirecTV customers like me will probably start to worry that my current $170 a month bill will escalate further and my service will decline to U-verse levels of not giving a damn, our real worry should be, as Professor Picketty would doubtless agree, that it's beginning to look a lot like Orwell.

Isn't it time to suggest that all this blather about Obama the Socialist is a smokescreen put up by interests with no other interest than to monopolize the country and reduce us all to penury, inescapable debt and serfdom? struggling to pay for what they want to sell us?  I think it is and I think our biggest danger as a free and prosperous country is to protect what they, the media, the voice of monopoly tell us is our freedom. 

Thursday, March 3, 2011

Tuesday, October 26, 2010

SHOCKING INCOME INEQUALITY REPORT DROWNED BY MEDIA NOISE



As our mainstream media continues to abuse us with nonsensical blow-by-blow accounts by blowhard headline-grabbing louts, this story received scant attention:


As millions of Americans lost jobs, homes, and life savings in the Great Recession of 2009, the highest-paid earners saw their average incomes rise more than five-fold in a single year. According to new data, the 74 highest income earners – the uppermost income bracket as measured by the Social Security Administration -- saw their average incomes skyrocket from $91.8 million in 2008 to a staggering $518.8 million in 2009:



These 74 people earned an average of $10 million -- per week. Meanwhile, half of all American wage earners, or about 75 million people, earned less than $505 per week.

An abrupt change in tax and economic policies started under the Reagan administration, conflated by Bush era tax cuts, made this possible. Three decades of Reaganomics have crippled the base of the income ladder while adding a burdensome weight at the top. The result is an unstable and unsustainable structure awaiting collapse.

Meanwhile the Republican Party and their tea party rabble are clamoring for more tax cuts and an indiscriminate dismantling of the social safety net for middle class Americans.  If our mainstream media had done a better job of informing the public, perhaps voters would be making more intelligent choices this November.  Fat chance!