Our Debt Economy

This nation has worked with a huge debt for decades…..debt being we spend more than we take in….and that is the result of those massive tax breaks and cuts that only assist the wealthy…..

And soon, probably after the next election, the GOP will return to the same lame bullshit about the debt and will demand tax cuts to get it more in line with their philosophies…..while their man in the White House is pissing money away it is some how not that important…..just wait.

This country runs on a debt economy…..

All the economic forces of the state—of both governments and central banks—must be mobilised to ensure its continued accumulation of wealth through the provision of endless supplies of money to boost share prices and other financial assets.

This was set out most clearly in a note issued earlier this month by JPMorgan Chase, reported by Bloomberg. The note said that extremely loose monetary policy—the maintenance of ultra-low interest rates and massive purchases of debt by central banks—would have to be continued for a long time.

“More debt, more liquidity, more asset reflation” was the bank’s conclusion. According to one of its leading strategists, Nikolaos Panigirtzoglou, there will be a $16 trillion increase in debt this year, taking the total amount of private and government debt in the global financial system to $200 trillion by the end of the year.

https://www.wsws.org/en/articles/2020/07/14/debt-j14.html

A bit more information on a debt economy…looking from the UK…..

There is no limit to the quantity of money that can be created by a central bank such as the Bank of England. It was different in the days of the gold standard, when central banks were restrained by a promise to redeem their money for gold on demand. But countries moved away from this system in the early part of the 20th century, and central banks nowadays can issue as much money as they like.

This observation is the root of modern monetary theory (MMT), which has attracted new attention during the pandemic, as governments around the world increase spending and public debts become all the more burdensome.

MMT proponents argue that governments can spend as necessary on all desirable causes – reducing unemployment, green energy, better healthcare and education – without worrying about paying for it with higher taxes or increased borrowing. Instead, they can pay using new money from their central bank. The only limit, according to this view, is if inflation starts to rise, in which case the solution is to increase taxes

https://theconversation.com/modern-monetary-theory-the-rise-of-economists-who-say-huge-government-debt-is-not-a-problem-141495

The National Debt is only a problem when a Dem is in the White House and they can be blamed for all the GOP overspending.

There is a solution!

Stop worthless tax cuts and force those making billions into paying their share of the taxes……tax cutting has accomplished NOTHING for this country…..just keeps the wealthy in cigars and yachts.

I Read, I Write, You Know

“lego ergo scribo”

What Does De-Fund Mean?

The call these days is to de-fund the people because of the police abuses toward the people especially minorities.

I have written that I think the term “de-fund” is not the best term to use because it will be spun into something that does not represent the issue at all.

The once-obscure slogan has become a rallying cry for protesters calling out police brutality and racial disparities in policing.

Calls to defund the police have become a rallying cry for protesters calling out police brutality and racial disparities in policing. But there are plenty of questions about what that means.

Some activists are pushing for police funding to be redirected to Black communities for services like education, health care and housing. Others want to completely abolish local police forces.

https://www.newsy.com/stories/what-does-defunding-the-police-mean/

  • Evolution: This used to be more of a thought bubble among activists and academics on the left, but it’s been going more mainstream in recent years, and the Floyd case has cemented that, per the Washington Post. The city of Minneapolis, for example, is taking steps to disband its department and New York City is cutting the NYPD budget, reports Newsweek. Still, the meaning of “defund the police” is on a spectrum, a Yale sociology expert tells CNN, with some definitions more radical than others.
  • A book: The movement has brought renewed attention to the 2017 book The End of Policing, by sociology professor Alex Vitale of Brooklyn College. “I’m certainly not talking about any kind of scenario where tomorrow someone just flips a switch and there are no police,” he tells NPR in an interview. “What I’m talking about is the systematic questioning of the specific roles that police currently undertake.” Most burglaries, for example, are driven by drug use, he notes. Better drug-treatment programs could help ease that.
  • Critics: Homeland Security chief Chad Wolf called defunding police “absurd” on Fox News Sunday, and Attorney General William Barr denied that systemic racism exists in US police departments. Last week, Fox’s Tucker Carlson called defunding the police a crazy idea that would mean “thugs are in charge,” per Fox.
  • Black Lives Matter: BLM co-founder Patrisse Cullors tells WBUR that defunding is essential “because it means we are reducing the ability of law enforcement to have resources that harm our communities.” Instead of spending the money on armored vehicles, invest it in black communities, she says.
  • Semantics? “It’s not a slogan I’ll use,” says Democratic Sen. Cory Booker, referring to “defund the police,” per the Washington Examiner. But he does support fundamental changes in police roles. Activist and actor George Takei isn’t thrilled with the slogan, either. “Let’s be smart,” he writes. “Let’s not call this ‘defunding’ the police. That won’t fly with the public. I say, let’s ‘demilitarize’ the cops. Take that money and fund minority communities.”
  • John Oliver: He’s on board. In his latest Last Week Tonight, Oliver backs the idea and notes that it could benefit officers, too, per Deadline. “The concept is that the role of the police can then significantly shrink because they are not responding to the homeless or to mental health calls or arresting children in schools or really any other situation where the best solution is not someone showing up with a gun—that’s the idea of defunding the police.”
  • Congress: Democrats (including Booker) will unveil legislation Monday calling for a wide range of police reforms. Among other things, it would make it easier to prosecute officers for abuses, reports the Wall Street Journal.

All this illustrates what I said when the slogan became popular and the media picked up on it……it has lead to confusion and misunderstanding.

The Dems are not really helping by offering their idea of a reform for the PDs……https://www.commondreams.org/news/2020/06/08/pushed-national-uprising-democratic-lawmakers-unveil-legislation-overhaul-policing

The Justice in Policing Act would:

  • Limit legal protections for police. For example, it would revise the federal criminal police misconduct statute to make it easier to prosecute officers who are involved in misconduct “knowingly or with reckless disregard.”
  • The package would also change “qualified immunity” protections for police “to enable individuals to recover damages when law enforcement officers violate their constitutional rights.”
  • Create a national database of excessive-force incidents.
  • Ban police chokeholds.
  • Ban racial profiling and boost requirements for police body cameras.
  • Grant subpoena power to the Justice Department to conduct “pattern and practice” investigations of potential misconduct and help states conduct independent investigations.
  • The measure stops short of calls by activists to “defund the police,” a push to dismantle or reduce financial resources to police departments that has struck new intensity in the weeks of protests since Floyd’s death

As I said….this just adds to the confusion and probably has NO chance in Congress….but it does look good for any upcoming elections.

Let’s say for a moment that this issue is successful…how do we reinvent our police departments?

This is a great start, and at the very least cities should require 100% of their police to be residents of their communities and emphasize public safety.

But there are other vital steps communities should consider.

All across America, we need police oversight boards that are independent of police departments, complete with subpoena and indictment powers, and that can impartially rule on police actions and matters.

We also need the leadership of police departments, the top authority, what we now call the Chief of Police, to be an elected civilian who’s main responsibility is to protect the community, not the cops.

https://www.commondreams.org/views/2020/06/08/how-exactly-should-us-reinvent-its-police-departments

I believe that police departments all over the nation have needed a reinvention to make them the servant of the public…kinda like the oath they take when they are employed but soon forgotten once they hit the streets and old biases take over.

Plus ‘police unions’ which are nothing more than cover to commit horrible crimes against the people they are sworn to protect…..call them what they are…….associations for the police.

We are now facing the day when we can make a difference in our society….will we step up or will we do what Americans do most of the time….push it aside for another day?

I Read, I Write, You Know

“lego ergo scribo”

The State And Local Crisis

The pandemic has caused so many problems for state and local governments…..the  biggest problem is yet to come.

The budgets and and revenues will be a insurmountable problem that needs a solution that will benefit everyone and crap on none.

US local and state governments are reopening the economy as the pandemic continues to spread, although mass testing for COVID-19 and contact tracing programs are absent. At the same time, new state and local budget projections for the coming fiscal year paint an even grimmer picture than what was expected at the beginning of the month.

The Center on Budget Policy and Priorities (CBPP) has reported a 25 percent decline in revenues for some states in April alone. The CBPP now predicts that US state budget shortfalls will reach $765 billion over the next three years due to the economic impact of the COVID-19 pandemic. The report points out the strong relationship between unemployment rates and shortfalls in state budgets, which are critical for providing health care, housing, education, infrastructure and social welfare programs.

According to CBPP, several states have already predicted major reductions in revenue for 2020, including Massachusetts ($4.5 billion, or 15 percent of the state budget); Michigan ($3.2 billion, or 13 percent); and Utah ($1.4 billion, or 18 percent). For the next two years, some states are projecting even steeper drops, such as California ($32 billion in 2021, or 21 percent of its state budget); New York state ($12 billion in 2021 and $16 billion in 2022, or 14 and 17 percent of its annual budget); and Colorado ($3.2 billion in 2021 and $4 billion in 2022, 24 and 17 percent of its annual budgets, respectively).

https://www.wsws.org/en/articles/2020/05/27/budg-m27.html

There is a solution that has been around for over 100 years…..it is called Land Value Tax….

Land Value Taxation is a method of raising public revenue by means of an annual charge on the rental value of land. If you do not want to read through this text, you can watch this ten minute video by Dominic Frisby.

The below advantages are  from http://www.landvaluetax.org/

  • A NATURAL SOURCE OF PUBLIC REVENUE. All land makes its full contribution to the Exchequer, allowing reductions in existing taxes on labour and enterprise.
  • A STRONGER ECONOMY. If we tax labour, buildings or machinery and plant, we discourage people from constructive and beneficial activities and penalise enterprise and efficiency. The reverse is the case with a tax on land values, which is payable regardless of whether or how well the land is actually used. It is a payment, based on current market value, for the exclusive occupation of a piece of land. In the longer term, this fundamentally new and different approach to revenue raising will stimulate new business and new employment, reducing the need for costly government welfare.
  • MARGINAL AREAS REVITALISED. Economic actitivities are handicapped by distance from the major centres of population. Conventional taxes such as VAT and those on transport fuels cause particular damage to the remoter areas of the country. Land Value Tax, by definition, bears lightly or not at all where land has little or no value, thereby stimulating economic activity away from the centre – it creates what are in effect tax havens exactly where they are most needed.
  • A MORE EFFICIENT LAND MARKET. The necessity to pay the tax obliges landowners to develop vacant and under-used land properly or to make way for others who will.
  • LESS URBAN SPRAWL. Land Value Taxation deters speculative land holding. Thus dilapidated inner-city areas are returned to good use, reducing the pressure for building on green-field sites.
  • LESS BUREAUCRACY. The complexities of Income Tax, Inheritance Tax, Capital Gains Tax and VAT are well known. By contrast, Land Value Tax is straightforward. Once the system has settled down, landholders will not be faced with complicated forms and demands for information. Revaluation will become relatively simple.
  • NO AVOIDANCE OR EVASION. Land cannot be hidden, removed to a tax haven or concealed in an electronic data system.
  • AN END TO BOOM-SLUMP CYCLES. Speculation in land value – frequently misrepresented and disguised as “property” or “asset” speculation – is the root cause of unsustainable booms which result periodically in damaging corrective slumps. Land Value Taxation, fully and properly applied, knocks the speculative element out of land pricing.
  • IMPOSSIBLE TO PASS ON IN HIGHER PRICES, LOWER WAGES OR HIGHER RENTS. Competition makes it impossible for a business producing goods on a valuable site to charge more per item than one producing similar goods on less valuable land – after all, producers and traders at different locations are paying different rents to landlords now, yet like goods generally sell for much the same price and employers pay their workers comparable wages. The tax cannot be passed on to a tenant who is already paying the full market rent.

I wrote about this here on GSFP……https://gulfsouthfreepress.wordpress.com/land-value-taxation/

This will be hard to convince the politicians of this….but as they struggle to balance the budgets this will be a good solution ….but will legal bribes prevent a solution?

I Read, I Write, You Know

“lego ergo scribo”

Poverty Is A Disease

I know most everybody wants to believe the hype of the American Dream…..the old “work hard and get ahead”…..well that is a thought from yesteryear……it has NO reality in the 21st century…..

A personal from 12 years ago…..https://lobotero.com/why-poverty/

We are the generation that gets to witness the end of the American Dream.  The numbers that you are about to see tell a story.  They tell a story of a once mighty economy that is dying.  For decades, the rest of the planet has regarded the United States as “the land of opportunity” where almost anyone can be successful if they are willing to work hard.  And when I was growing up, it seemed like almost everyone was living the American Dream.  I lived on a “middle class” street and I went to a school where it seemed like almost everyone was middle class.  When I was in high school, it was very rare to ever hear of a parent that was unemployed, and virtually every family that I knew had a comfortable home and more than one nice vehicle.  But now that has all changed.  The “American Dream” has been transformed into a very twisted game of musical chairs.  With each passing year, more people are falling out of the middle class, and most of the rest of us are scrambling really hard to keep our own places.  Something has gone horribly wrong, and yet Americans are very deeply divided when it comes to finding answers to our problems.  We love to point fingers and argue with one another, and meanwhile things just continue to get even worse.  The following are 22 numbers that are very strong evidence of the death of the American Dream… http://endoftheamericandream.com/archives/the-death-of-the-american-dream-in-22-numbers

https://www.huffingtonpost.com/david-oualaalou/a-broken-american-system-_b_7200806.html

Thanx to these dismal numbers the truth is that the Middle Class is disappearing…….

Everyone loves the middle class. Everyone claims to be middle-class—some to put a gloss on their sketchy escutcheons, others to dodge chastisement for their awkward riches. But in fact both the socioeconomic reality and the concept of the middle class have been turned on their heads and, at the same time, trivialized into a mere lifestyle choice.

Economically, the middle classes were once proprietors, self-employed owners of property and their own labor. Morally, they were the equivalent of “solid citizens”: decent, hard-working, law-abiding, temperate, proper, staid, virtuous, and—well, moral. The qualifications for being middle class have gotten a whole lot looser, to say the least.

What Middle Class?

Poverty is on the rise yet again……but what is poverty? I wrote a post many years ago that explains why poverty……https://lobotero.com/why-poverty/

Think about it!

The average annual income is less than $50,000….that works out to about $900 a week……ever tried living on that?

Recently, the U.S. Bureau of Labor Statistics (BLS) released their report on the Usual Weekly Earnings of Wage and Salary Workers. Using information from the fourth fiscal quarter of 2018, the BLS claims that in that quarter, the median income for a full-time wage or salary worker on a weekly basis was $900. For a 40-hour work week, this translates to a yearly income of approximately $46,800. This is a 5% increase on the previous year.

When seasonal adjustments (holidays, severe weather, etc.) are taken into account by the BLS, the median weekly earnings are $897, or about $46,644 per year.

These are very general numbers. After all, according to the BLS for this quarter there were 115.9 million full-time wage and salary workers in the U.S.

. https://www.thestreet.com/personal-finance/average-income-in-us-14852178

The truth is that poverty is expanding it is like the spread of a disease……and as such should be treated like a disease and work on a cure for the expansion……

None of it feels like enough. I feel as though I am wired for a permanent state of fight or flight, waiting for the other shoe to drop, or the metaphorical week when I don’t eat. I’ve chosen not to have children, partly because—despite any success—I still don’t feel I have a safety net. I have a huge minimum checking account balance in mind before I would ever consider having children. If you knew me personally, you might get glimpses of stress, self-doubt, anxiety, and depression. And you might hear about Tennessee.

https://getpocket.com/explore/item/why-poverty-is-like-a-disease

I feel that we need to return to the 1960s and the War on Poverty ideal…..we fight all sorts of problems in the world and poverty is one that could solve some of the other pressing problems…..there is a cure……we just have to want to cure the disease of poverty.

Contrary to myths propagated by many critics, the War on Poverty was not narrowly focused on “expanding welfare.” “No doles,” stipulated President Johnson, and his legislative initiatives included aid to schools and universities, new job training programs, public housing initiatives, new Medicare health coverage for the elderly and Medicaid coverage for the poor, and other programs that have endured, such as Head Start, Job Corps, and Community Health Centers.

The War on Poverty’s pivotal assault on racial discrimination often goes unmentioned. In addition to persuading Congress to pass the 1964 Civil Rights Act and the 1965 Voting Rights Act, the Johnson administration used the federal purse to desegregate schools, hospitals, community boards, and neighborhood programs. As new grants flowed, threats to withhold funding made

Nor should the War on Poverty be discussed only in the past tense. It is still being fought today. Although the original coordinating agency, the Office of Economic Opportunity, was disbanded in the early 1970s, many programs are still funded under new names in other agencies.

https://scholars.org/contribution/accomplishments-and-lessons-war-poverty

I stand by my assertion that Poverty is a disease and as such should be treated thusly.

I Read, I Wrote, You Know

“lego ergo scribo”

“Shit Life” Syndrome

I could pretend that this is some sort of disorder that can be cured with a med that will cost the sufferer $1000 a month to cure or control….that would be bullshit……it is a condition that has been spreading for decades among the lower wage workers….

Will Hutton in his 2018 Guardian piece, “The Bad News is We’re Dying Early in Britain – and It’s All Down to ‘Shit-Life Syndrome’” describes shit-life syndrome in both Britain and the United States: “Poor working-age Americans of all races are locked in a cycle of poverty and neglect, amid wider affluence. They are ill educated and ill trained. The jobs available are drudge work paying the minimum wage, with minimal or no job security.”

The Brookings Institution, in November 2019, reported: “53 million Americans between the ages of 18 to 64—accounting for 44% of all workers—qualify as ‘low-wage.’ Their median hourly wages are $10.22, and median annual earnings are about $18,000.”

For most of these low-wage workers, Hutton notes: “Finding meaning in life is close to impossible; the struggle to survive commands all intellectual and emotional resources. Yet turn on the TV or visit a middle-class shopping mall and a very different and unattainable world presents itself. Knowing that you are valueless, you resort to drugs, antidepressants and booze. You eat junk food and watch your ill-treated body balloon. It is not just poverty, but growing relative poverty in an era of rising inequality, with all its psychological side-effects, that is the killer.”

“Shit-Life Syndrome,” Trump Voters, and Clueless Dems

Take the DC area…..

Average rent in DC: $2250 Income needed to qualify for renting: $81k. At $15 an hr yearly: $31k Deficit of: $50k Here lays the reason for homelessness and desperation. Even 2 full time jobs at 15 an hr leaves them short.

DC is not a outlier…..rents are out of control all over the country…..that one is only an example.

So much more needs to be done when the average person does not make enough to live and CEOs are getting bonuses that are equal to the GDP of a small country.

Time for a change…..I mean change not what we normally get some lame ass reform that means nothing and helps NO one.

Just a thought.

Be Smart!

Learn Stuff!

VOTE!

I Read, I Write, You Know

“lego ergo scribo”

What Happened To Fiscal Conservatism?

Ever since I can remember in my voting life there have been those fiscal conservatives and justn the other day I woke up and realized that they are a dying breed in the age of Trump.

Before you start wandering around the living room talking to yourself…..I feel I need to refresh those people on the definition of a fiscal conserv……

Fiscal conservatism is the belief that the economy functions best with minimal governmental influence. Fiscal conservatives often support lower taxes and less regulations (laws and rules on how a business is allowed to operate). They are proponents of free-market capitalism – the belief that capital (usually defined as money) is best allocated without government direction. Fiscal conservatives believe that individuals and companies can best respond to the demands of consumers, instead of a government bureaucrat. For example, fiscal conservatives oppose socialized medicine, where the government decides how much doctors make, what treatments are allowed, and millions of other decisions. Instead, fiscal conservatives believe that competition between doctors, hospitals, clinics, and pharmaceutical companies will produce the lowest-cost, highest-quality care.

Supporters of fiscal conservatives can have different names and comprise different groups. Most fiscal conservatives are members of the Republican Party, although some may be members of the Libertarian Party. They may consider themselves Tea Party members, libertarians (ideologically, not the political party), or capitalists. They may be entrepreneurs or managers of businesses. Or they may come from any number of occupations but in general support limited government.

I remember for the last 40 years or so all the doom and gloom that these people predicted if we did not get our spending under control…..and yet these same garden slugs are letting Trump spend his ass off.

Is fiscal conservatism dead?

For now it is…..

The year was 2010, and the congressman-elect was Mick Mulvaney, then a 43-year-old restaurateur and developer who rode the tea party wave during President Obama’s first term to defeat 14-term incumbent Democrat John Spratt and be the first Republican to represent South Carolina’s 5th Congressional District since 1883.

The “GOP Young Gun” ran a campaign platform focused on fiscal discipline — harping on the then-$13 trillion national debt, rampant government spending and growth, and the mandates under the Affordable Care Act that conservatives saw as anything but affordable. Mulvaney wasn’t so different from many of his freshman contemporaries, who sought to scale back a Washington that was, as they saw it, spending out of control, if not spending itself out of existence, and burdening future generations with impossible promises.

https://www.cbsnews.com/news/what-happened-to-the-party-of-fiscal-discipline/

The more time passes the more that it looks like fiscal conservatism is only applicable when there are Dems in charge….if so then what I thought all along….it is all a lie.

But not to worry…..these spending giants will once again revert back to the lie of fiscal conservatism.

A naked lie!

One of the ways that Republicans demonstrate that they are the “post-truth” party is that, when Democrats are in office, they prioritize federal deficit reduction, but when they’re in charge, the deficit soars. Right on cue, the Wall Street Journal reported back in October that the federal deficit was about to reach $1 trillion.

It is all a lie….just a slogan for elections and the sentiment is quickly forgotten…..typical GOP thinking.

Learn Stuff!

“lego ergo scribo”

What Has Happened To Our Middle Class?

This is a fun subject for an aging radical as myself…..why?

Just the changing definition of the term “Middle Class”….originally it meant the bourgeoisie not the workers……but now the table is turning and they are same class…that is if you know anything about “classes”.

the bourgeoisie

the middle classes
(in Marxist thought) the ruling class of the two basic classes of capitalist society, consisting of capitalists, manufacturers, bankers, and other employers. The bourgeoisie owns the most important of the means of production, through which it exploits the working class.
And yet the media has turned the two separate classes into the same class.

Everyone loves the middle class. Everyone claims to be middle-class—some to put a gloss on their sketchy escutcheons, others to dodge chastisement for their awkward riches. But in fact both the socioeconomic reality and the concept of the middle class have been turned on their heads and, at the same time, trivialized into a mere lifestyle choice.

Economically, the middle classes were once proprietors, self-employed owners of property and their own labor. Morally, they were the equivalent of “solid citizens”: decent, hard-working, law-abiding, temperate, proper, staid, virtuous, and—well, moral. The qualifications for being middle class have gotten a whole lot looser, to say the least.

The European term “middle classes” originally served to describe merchants, tradesmen, investors, and skilled craftsmen. The habitat of these classes was the walled city—the burg, bourg, or borough—hence their appellation, les bourgeois. The bourgeoisie occupied a middle ground between the nobility and the lower classes of peasants and servants.

What Middle Class?

To illustrate this change……the Brookings Institute tries to explain what is happening to America’s Middle Class……

Brookings officially launched a new initiative on the Future of the Middle Class. Through this initiative, we will publish research, analysis, and insights that are motivated by a desire to improve the quality of life for those in America’s middle class and to improve upward mobility into its ranks. We have already wrestled with how we define this group, considered its changing racial composition, and called upon experts to outline major policies geared toward improving its fate. But why all of this attention? Here are seven of the reasons we are worried about the American middle class.

Seven reasons to worry about the American middle class

This study is talking about the traditional working class not the owners of the production….

This combination just makes it easier for the media to sell its ideas to the American voter…..ideas that benefit no one but the corporations that control everything.

Learn Stuff!

“Lego Ergo Scribo”

$15 Minimum Wage

One of the biggest issues for 2020 and onward is the possibility to raising the minimum wage to $15 an hour.  Since most jobs created by this “booming” economy are minimum wage jobs and mostly in the service industry.

The CBO has issued its finding on the raise of the minimum wage…….

A Congressional Budget Office analysis published Monday showed that raising the federal minimum wage to $15 an hour by 2025 would significantly increase pay for over 27 million workers and lift 1.3 million people—including hundreds of thousands of children—out of poverty.

The CBO also found that more than doubling the federal minimum wage would boost the income of families earning less than three times the poverty rate by nearly $22 billion.

https://www.commondreams.org/news/2019/07/09/cbo-analysis-shows-15-federal-minimum-wage-would-raise-pay-27-million-workers-and

The federal minimum wage in the United States is only $7.25 per hour. It hasn’t seen a meaningful boost in this required amount for more than a decade. Although it is still a comparatively high salary minimum when compared to what a majority of the world’s population receives in compensation for their work, it is worth far less today than it was when it was first raised to that level.

Because of the lack in value of the minimum wage as it currently stands, there is a political and socioeconomic push from both sides of the aisle to raise the federal minimum wage to $15 per hour. The highest value for this wage in the U.S. when adjusted for inflation came in 1968 when workers earned $8.68 per hour. Since then, the actual value of these earnings has lost over 10% of its purchasing power.

To be fair I try to give both sides of this issue…..the site ProCon.org has a debate on the rise of the minimum wage……

Proponents of a higher minimum wage state that the current federal minimum wage of $7.25 per hour is too low for anyone to live on; that a higher minimum wage will help create jobs and grow the economy; that the declining value of the minimum wage is one of the primary causes of wage inequality between low- and middle-income workers; and that a majority of Americans, including a slim majority of self-described conservatives, support increasing the minimum wage.

Opponents say that many businesses cannot afford to pay their workers more, and will be forced to close, lay off workers, or reduce hiring; that increases have been shown to make it more difficult for low-skilled workers with little or no work experience to find jobs or become upwardly mobile; and that raising the minimum wage at the federal level does not take into account regional cost-of-living variations where raising the minimum wage could hurt low-income communities in particular.

https://minimum-wage.procon.org/

My personal opinion is that it has long past time for this raise….as I look for a candidate to support this is one of the issues that I use…..along with education, foreign policy.

Hopefully this post will be helpful.

Be Smart!

Learn Stuff!

Then VOTE!

“Lego Ergo Scribo”

Time To End Welfare

If I linger for a moment the Right wingers will see the title and will jump to my side, pat me on the back as a well informed “liberal”…..(linger…..Linger….Linger)……

But they would be premature in doing so…..for I am not talking about the welfare that the Reaganites have hated for 50 years…if you are old enough then you will remember the “welfare Queens” the the GOP have been attacking for decades……those poor people that use benefits provided by the government.

Nope the “welfare” I am referring to is corporate welfare…..these are the programs that give lots of aid to corporations….tax, breaks, subsidies……”gimmes” tho corporations that do not need them to continue to perform……

Every Congress we have this debate about the deficit and of course to the GOP it is all that money given to poor people through direct payments or programs that is causing the problem.

You see if your payments out weigh your income then you have a deficit…..and since the income for the nation comes from taxes then lower taxes does little but make the deficit higher….and yet we keep playing the same game because corporations want it so….time for that to change….

A day after President Donald Trump touted his “scam” tax proposal, the Institute for Policy Studies’ #PayUpCorps campaign highlighted needs in infrastructure, healthcare, and other sectors that could be paid for with all the money corporations stand to save under the Koch brothers’-backed tax plan.

Trump and Republican leaders in Congress hope to cut the corporate tax rate from an already low 35 percent to 20 percent—though the Institute on Tax and Economic Policy has found that many Fortune 500 companies effectively already pay only about 20 percent of their profits in taxes, and contrary to Republican promises, the savings don’t lead to job creation.

Source: #PayUpCorps Campaign Highlights All Nation Could Do If Corporations Paid Their Fair Share | Common Dreams

And we have this conversation every Congress and the GOP usually wins in some form or another…..Trump has a tax plan as well…..and guess what nothing new….

Each of the four principles Trump claims will inform what he calls “tax reform” is actually mocked in the plans the administration is cooking up behind closed doors.

The only question is whether Americans are gullible enough to buy what Trump, House Speaker Paul Ryan and Republicans are selling. And whether Democrats will unite to expose the con and demand progressive tax reforms that are long overdue.

Source: Trump’s Tax Plan Is a Confidence Scam | By Robert Borosage | Common Dreams

I have given my idea for a tax reform….simply put….everyone pays their fair share and the deficits will shrink…..it is really not that hard to grasp…..

Of course a more realistic budget would help with those darn deficits….that will be a post for another op-ed.

Tax Reform—-2017 Edition

Slowly but slowly some fresh air is filtering into DC as the Congress is on their Summer break.

The GOP attempt to ‘repeal and replace”, something they had been harping on for at least 7 years, fell on its face hard….and when they return after Labor Day will try move on to something new?

You guessed it!

It is that time again…..that time when the GOP jumps on the issue of tax reform.  That time ever session when the GOP talks a mean case for protecting jobs and helping hard working Americans.

You do realize that it is all BS, right?

Why?

The Congress has been cutting taxes for 40 years and in all that time the Middle Class has lost out and in all that time the voter falls for the BS every time it is proposed…even though I can see it with every paycheck that it is a LIE!

Oh there will be the usual….tax breaks, tax reform, the corporate tax rate and the ever popular going after that offshore cash and finally the slogan about helping hard working Americans….all have been said before…..every time their is a GOP tax package we hear the same lame promises and slogans.

For instance……the tax package in 2013 and the package that the GOP was championing….

Source: What About Those Pesky Corporate Tax Rates? – In Saner Thought

But do not take my well informed word for it……

This is the joint statement by Ryan and McConnell on the upcoming tax package….

Source: Joint Statement on Tax Reform | Speaker.gov

Let’s be honest, something that the GOP would never consider doing, the package today is the same package from 4 years ago…..the only ones to benefit from this deal will be the wealthy.

Unlike most people that bitch about taxes…..I have on several occasions offered my idea of how to handle taxes and such…….

Since taxation is our major source of income…then everyone who participates in this country should be paying their fair share….

First let’s be real…..anyone that believes the lie of tax cuts for corporations will somehow bring jobs and a better economy is just delusional fools.

Corporations…..a flat 15% corporate tax….no deductions or cuts or breaks…all pay the price.

Corporations should pay the same income tax as the individual or flatten it out to a 15% tax on all income…not on profit…income.  Deductions for employee health plans and buying new equipment only.

Individuals:

$0-50,000 no tax

$50,001-100,000 pays 15%

$100,001-250,00 pays 25%

$250,001-up pays 35%

Deductions to be worked out…but from my plan there will be very limited deductions.

I realize that this is an ambitious plan and will probably never see the light of day in my lifetime….but it is a fair plan and ALL Americans can participate in the prosperity of their country.

But even the Trump White House has those that see the wealthy should be pulling more weight when it comes to taxes….

ex-White House chief strategist Stephen Bannon has an unusual proposal for a Republican: He wants to raise income taxes on the richest Americans.

Specifically, a tax rate of 44 percent on all income over $5 million. Currently, the country’s highest rate is 39.6 percent.

Bannon’s economic views sit noticeably to the left of the GOP donor class. That means there’s scant chance Republicans will take Bannon up on the idea. But if they were smart, they would.

Source: Bannon’s bright idea

Although I do like the idea of them paying 90+% in taxes….but those days are long gone.

We need a truly equatable tax code….not one that hides corporate welfare behind a pile or volumes of legal-ese.