Monday, November 28, 2011
Rolling Over The Middle Class
Below is a good analysis of the economic plight of our disappearing middle (and working) class:
http://motherjones.com/politics/2010/11/galbraith-social-security-middle-class
Coupled with living pay check to pay check, crippling credit card & education debt it is no wonder that people watch what is happening to the Occupy Wall Street movement, agree that they are, too, part of the 99% but keep on with their heads down.
Here are some proposals to start with (all are negotiable):
Congress members should roll back their salaries...as of 1/2010 the salary for new members $174,000 (before adding in benefits, and realizing that seniority, chair ships, etc, add on to pay). The average family of four has an income of about $50,000 per year, so a member of Congress should earn double that--so Congressional leaders reflect who they are serving. (The same goes for the President--who also does not have housing costs during the term of office).
Congressional Ethics should stop the revolving door that President Eisenhower warned us of...how obscene it is to learn that Gingrich earned $1.6 million + from Freddie Mac.... (Serving in government should not be a get rich quick scheme!)
We should implement a 2 year community service or military service program for young people 18-20. It will teach them to give back, give them some life experiences on their own and help others. I also am in favor of a similar program for those who take "early retirement" before age 70. For the elders, they can do service in their home communities--20 hours a week working in literacy programs, libraries or soup kitchens.
FICA should be on all pay income earned, not limited to the first $106,000. That would secure Social Security.
Want students to really learn: get rid teaching to the test ways of measuring excellence (not) in schools;that will save monies, and give teachers roughly 2 more months to really teach.
Single payer health insurance--the government already provides that for the poor, the elderly, prisoners, military members and veterans, and governmental employees. It is the private health insurance companies that have jacked up the cost of health care (and are the ones who deny health care services. The US pays the most for health care, yet we are way below the top ten when it comes to infant and mother' mortality, for instance.
Legalize and tax marijuana. In fact, end the war on drugs.
That is a start...more to come...
http://motherjones.com/politics/2010/11/galbraith-social-security-middle-class
Coupled with living pay check to pay check, crippling credit card & education debt it is no wonder that people watch what is happening to the Occupy Wall Street movement, agree that they are, too, part of the 99% but keep on with their heads down.
Here are some proposals to start with (all are negotiable):
Congress members should roll back their salaries...as of 1/2010 the salary for new members $174,000 (before adding in benefits, and realizing that seniority, chair ships, etc, add on to pay). The average family of four has an income of about $50,000 per year, so a member of Congress should earn double that--so Congressional leaders reflect who they are serving. (The same goes for the President--who also does not have housing costs during the term of office).
Congressional Ethics should stop the revolving door that President Eisenhower warned us of...how obscene it is to learn that Gingrich earned $1.6 million + from Freddie Mac.... (Serving in government should not be a get rich quick scheme!)
We should implement a 2 year community service or military service program for young people 18-20. It will teach them to give back, give them some life experiences on their own and help others. I also am in favor of a similar program for those who take "early retirement" before age 70. For the elders, they can do service in their home communities--20 hours a week working in literacy programs, libraries or soup kitchens.
FICA should be on all pay income earned, not limited to the first $106,000. That would secure Social Security.
Want students to really learn: get rid teaching to the test ways of measuring excellence (not) in schools;that will save monies, and give teachers roughly 2 more months to really teach.
Single payer health insurance--the government already provides that for the poor, the elderly, prisoners, military members and veterans, and governmental employees. It is the private health insurance companies that have jacked up the cost of health care (and are the ones who deny health care services. The US pays the most for health care, yet we are way below the top ten when it comes to infant and mother' mortality, for instance.
Legalize and tax marijuana. In fact, end the war on drugs.
That is a start...more to come...
Labels: Economy, middle class
Saturday, September 24, 2011
Democracy in Action
How many of you are following the protests on Wall St? Hear anything about them on the main stream media? Why or why not? If the protests are not being reported out, are they not happening? Why is there a protest?
Here is a website to look at : https://occupywallst.org/
[What happens when news falls off the front page--does it mean that everything is X is no longer an issue?]
Here is a website to look at : https://occupywallst.org/
[What happens when news falls off the front page--does it mean that everything is X is no longer an issue?]
Labels: democracy, Economy, occupy wall st, protests
Sunday, February 20, 2011
Don't drink the kool-aid, part 2
See also Robert Reich's analysis:
http://www.alternet.org/economy/149981/exposing_the_republicans%27_3-part_strategy_to_tear_the_middle_class_apart_--_let%27s_stop_them_in_wisconsin/
http://www.alternet.org/economy/149981/exposing_the_republicans%27_3-part_strategy_to_tear_the_middle_class_apart_--_let%27s_stop_them_in_wisconsin/
Labels: Economy, public good, State Deficits, Unions
Wednesday, June 23, 2010
Trickle down still in effect, or its still the economy
It seems that Congress still believes in Reagan's trickle down theory of economics. There are tax cuts for the wealthy and the connected, bailouts for the banks, two expensive very long term wars that were not necessary or have completely changed missions. There is not enough for those who need a safety net, who have lost their jobs, who are still losing their homes.
Coupled with the oil spill in the Gulf which is having a very negative affect on not only the environment, the food chain, animals, but those whose livelihoods depend on the oil industry, fishing, tourists. . .
IF our economy is going to turn around, it needs to do so with a solid base of workers who could then afford the costs of living, and who then may be able to spend.
My suggestion to Congress and the President [with a big reminder that the median household income in 2009 was $52,029--only twenty percent of households have incomes over $100,000]:
Extend unemployment benefits in the short term.
Use half the BP monies to train (and pay) the workers in the Gulf states on environmental cleanup--from animals, to beaches, to the waters.
Extend aid to states, so that education and other necessaties are not cut, because of state budget cuts.
Put some real money into alternative energy.
Focus on our failing infrastructure -- bridges, sewers, water tunnels, mass transit.
Use a means test for social security--for instance, those with pension incomes over $100,000 per year might be overqualified for social security payments.
Social Security/FICA payments should be required on all income.
Coupled with the oil spill in the Gulf which is having a very negative affect on not only the environment, the food chain, animals, but those whose livelihoods depend on the oil industry, fishing, tourists. . .
IF our economy is going to turn around, it needs to do so with a solid base of workers who could then afford the costs of living, and who then may be able to spend.
My suggestion to Congress and the President [with a big reminder that the median household income in 2009 was $52,029--only twenty percent of households have incomes over $100,000]:
Extend unemployment benefits in the short term.
Use half the BP monies to train (and pay) the workers in the Gulf states on environmental cleanup--from animals, to beaches, to the waters.
Extend aid to states, so that education and other necessaties are not cut, because of state budget cuts.
Put some real money into alternative energy.
Focus on our failing infrastructure -- bridges, sewers, water tunnels, mass transit.
Use a means test for social security--for instance, those with pension incomes over $100,000 per year might be overqualified for social security payments.
Social Security/FICA payments should be required on all income.
Labels: Economy
Wednesday, September 02, 2009
The Economy needs Health Care Reform!
The need for health care reform reaches passed the medical needs to the financial needs of those currently with and without health insurance. Nicholas Kristof reported that a study from the American Journal of Medicine found that 62% of all bankruptcies in 2007 were because of medical debts--an increase of 50% since 2001; and most shockingly, 78% of the people declaring bankruptcy had health insurance.
The are are also many people whose claims are denied for many reasons--the illness or procedure is not covered by the health insurance contract, it is a pre-existing condition, the procedure is considered by the company to be experimental. . .
This points to a major concern--that the health insurance industry is not in business to protect health, but for profit. (see video clip below).
We need a program that will insure a healthy America--in more ways than one.
IMHO, Medicare for all.
Kristof's Op-Ed piece in Sunday's NYT:
http://www.nytimes.com/2009/08/30/opinion/30kristof.html?_r=1&scp=2&sq=Kristof&st=cse
The study from the American Journal of Medicine: http://download.journals.elsevierhealth.com/pdfs/journals/0002-9343/PIIS0002934309004045.pdf
video re: health care claims denied:
http://www.huffingtonpost.com/2009/08/06/denied-claims-placed-at-h_n_253160.html
The are are also many people whose claims are denied for many reasons--the illness or procedure is not covered by the health insurance contract, it is a pre-existing condition, the procedure is considered by the company to be experimental. . .
This points to a major concern--that the health insurance industry is not in business to protect health, but for profit. (see video clip below).
We need a program that will insure a healthy America--in more ways than one.
IMHO, Medicare for all.
Kristof's Op-Ed piece in Sunday's NYT:
http://www.nytimes.com/2009/08/30/opinion/30kristof.html?_r=1&scp=2&sq=Kristof&st=cse
The study from the American Journal of Medicine: http://download.journals.elsevierhealth.com/pdfs/journals/0002-9343/PIIS0002934309004045.pdf
video re: health care claims denied:
http://www.huffingtonpost.com/2009/08/06/denied-claims-placed-at-h_n_253160.html
Labels: Economy, health care reform
Thursday, October 02, 2008
Bailout?
I am very sceptical of this Wall St. bailout--even with all its sweeteners, it is only sweet for those who got us into this mess. We, the taxpayers are going to be paying for years for their follies. The new bailout does not even have us owning the companies we are saving. Nor, does the figure $700billion have any basis that I can find.
Barney Sanders wrote this : http://www.alternet.org/workplace/101224/bailout_passes_senate%3B_9_reasons_that%27s_bad_news_for_you/
and, my Congressman Maurice Hinchey wrote this:
WHY HINCHEY VOTED NO.... September 29, 2008 Hinchey Statement on Failure of Financial Bailout Bill Washington, DC - Congressman Maurice Hinchey (D-NY) today released the following statement after the House defeated a $700 billion financial bailout bill. The congressman voted against the measure. "While I recognize the need for some kind of a financial rescue package to free up the credit markets and restore stability to the entire financial system, I could not in good conscience vote for a bill that gives away $700 billion to the presidential administration that got us in this mess in the first place and doesn't make any sound economic investments in working and middle class Americans who are the ones in need of real financial assistance. Even Federal Reserve Chairman Bernanke and others have acknowledged that only $150 billion or so will be needed over the next five or six months. There is no legitimate argument for putting a $700 billion bailout on the shoulders of the American people when we can pass a rescue package with a much smaller dollar figure and reassess the situation next year under a new administration that is not the same administration as the one that got us in this mess. As we now have to go back to the drawing board, I expect that we'll see a much smaller package come forward that will effectively address the situation without placing an enormous new financial burden on American taxpayers. "I appreciate the urgency with which this bill was dealt. However, I wish my colleagues in Congress would have worked around the clock and through the weekend to reach an agreement on an economic stimulus bill that builds up the working and middle class and creates jobs. In fact, had they done so, I think a better bill would have passed today. We desperately need dramatic investments in our infrastructure -- with a particular focus on renewable energy projects, our education system, and our health care system. We also must provide real tax relief for working and middle class Americans who are the ones who could use some extra cash in their pockets as they face rising food, gas, and housing prices amidst uncertain employment circumstances. Last week, the House passed an economic stimulus bill that focuses on the right priorities that benefit the working and middle class, but President Bush threatened to veto the bill and his allies in the Senate blocked passage of the bill. I think it is critical that an economic stimulus bill be added as a component of any financial rescue measure because that's what will really stimulate growth in our economy. "The American economy is going through a very difficult time with many great challenges. It is imperative that our focus be on building up our economy with investments in the working and middle class. This bill ignores that component and instead focuses entirely on the Wall Street powerbrokers who were greedy and took advantage of the system. America was built on the shoulders of the working and middle class and our focus must be on rebuilding our economy through them as well."
Barney Sanders wrote this : http://www.alternet.org/workplace/101224/bailout_passes_senate%3B_9_reasons_that%27s_bad_news_for_you/
and, my Congressman Maurice Hinchey wrote this:
WHY HINCHEY VOTED NO.... September 29, 2008 Hinchey Statement on Failure of Financial Bailout Bill Washington, DC - Congressman Maurice Hinchey (D-NY) today released the following statement after the House defeated a $700 billion financial bailout bill. The congressman voted against the measure. "While I recognize the need for some kind of a financial rescue package to free up the credit markets and restore stability to the entire financial system, I could not in good conscience vote for a bill that gives away $700 billion to the presidential administration that got us in this mess in the first place and doesn't make any sound economic investments in working and middle class Americans who are the ones in need of real financial assistance. Even Federal Reserve Chairman Bernanke and others have acknowledged that only $150 billion or so will be needed over the next five or six months. There is no legitimate argument for putting a $700 billion bailout on the shoulders of the American people when we can pass a rescue package with a much smaller dollar figure and reassess the situation next year under a new administration that is not the same administration as the one that got us in this mess. As we now have to go back to the drawing board, I expect that we'll see a much smaller package come forward that will effectively address the situation without placing an enormous new financial burden on American taxpayers. "I appreciate the urgency with which this bill was dealt. However, I wish my colleagues in Congress would have worked around the clock and through the weekend to reach an agreement on an economic stimulus bill that builds up the working and middle class and creates jobs. In fact, had they done so, I think a better bill would have passed today. We desperately need dramatic investments in our infrastructure -- with a particular focus on renewable energy projects, our education system, and our health care system. We also must provide real tax relief for working and middle class Americans who are the ones who could use some extra cash in their pockets as they face rising food, gas, and housing prices amidst uncertain employment circumstances. Last week, the House passed an economic stimulus bill that focuses on the right priorities that benefit the working and middle class, but President Bush threatened to veto the bill and his allies in the Senate blocked passage of the bill. I think it is critical that an economic stimulus bill be added as a component of any financial rescue measure because that's what will really stimulate growth in our economy. "The American economy is going through a very difficult time with many great challenges. It is imperative that our focus be on building up our economy with investments in the working and middle class. This bill ignores that component and instead focuses entirely on the Wall Street powerbrokers who were greedy and took advantage of the system. America was built on the shoulders of the working and middle class and our focus must be on rebuilding our economy through them as well."
Labels: Economy, Maurice Hinchey, Sanders, wall st. bailout
Thursday, January 24, 2008
Its the economy, Stupid!
Everyone who has been feeding a family, heating a home, gassing up the car on a fixed income--and that means most wage earners*, plus those retired and living on social security, the very poor and disabled who live on welfare--knows that the economy is a mess. Too many people are living on credit--from their homes, from credit cards.
W's proposed one time tax rebate will go to only those making over $40,000 per year, and personally the $400 per person, $800 for a family is only a drop in the bucket. Will it stimulate more spending? Barely. Oh, some may replace their refrigerators or buy some clothes; many will feed that money to their bills.
Want to really stimulate the economy and increase spending? Give families working wages, so that they have something left over to actually spend! Increase minimum wage. Increase welfare and social security payments. Increase food stamp allotments--$1 per meal is not sufficient, nor does it fuel a healthy person.
Want to increase savings? Stop taxing the interest earned.
Common sense. But that's not something you'd find in this administration as they have so demonstrated.
*not counting 5% unemployed--which will soon expand by the 41,000 that Citibank will be laying off. Unemployment checks for most are 1/3rd of what they had made, for a whopping 26 weeks, not realistic for most to even make ends meet, especially since many Americans do not even have savings to lean on anymore.
W's proposed one time tax rebate will go to only those making over $40,000 per year, and personally the $400 per person, $800 for a family is only a drop in the bucket. Will it stimulate more spending? Barely. Oh, some may replace their refrigerators or buy some clothes; many will feed that money to their bills.
Want to really stimulate the economy and increase spending? Give families working wages, so that they have something left over to actually spend! Increase minimum wage. Increase welfare and social security payments. Increase food stamp allotments--$1 per meal is not sufficient, nor does it fuel a healthy person.
Want to increase savings? Stop taxing the interest earned.
Common sense. But that's not something you'd find in this administration as they have so demonstrated.
*not counting 5% unemployed--which will soon expand by the 41,000 that Citibank will be laying off. Unemployment checks for most are 1/3rd of what they had made, for a whopping 26 weeks, not realistic for most to even make ends meet, especially since many Americans do not even have savings to lean on anymore.
Labels: Economy
