- The top 1 percent takes in more than twice the share of national income today than they did 30 years ago, and that's a big reason why consumers are tapped out.
- Sitting Atop Trillions: What Would Business Do with Another Tax Break?
- The Ultimate Goal of the Bankster-led Political-economic Warfare Being Waged Against Us Is . . .
Joshua Holland, AlterNet<>
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That the wealthy are “job creators,” and therefore have interests that must be defended by the public at large, is a talking-point that, however facile, is so popular it slips effortlessly from the lips of conservatives every day.
It can be deployed for any purpose – not only in calling for more tax breaks for the rich, but also when opposing public interest regulation, consumer litigation and worker protections. Rep. Michele Bachmann, R-Minnesota, even used it to deflect attention from the "gay rehabilitation" services her clinic allegedly offers. When asked about it by ABC News, Bachmann merely acknowledged, “we do have a business that deals with job creation.” When pressed, she stuck with it: “As I said, again, we’re very proud of our business and we’re proud of all job creators in the United States.”
It's also complete nonsense; the opposite of the truth. Sure, the wealthy create a few jobs – people who offer exclusive services or sell them high-end goods. But the overwhelming majority of jobs in this country are “created” by ordinary Americans when they spend their paychecks.
Sitting Atop Trillions: What Would Business Do with Another Tax Break? Joseph T. Dwyer, Policy Shop
- Business already has plenty of cash, and if you look at what corporate America is actually doing with this money, it’s not pretty.
- Obama and his advisers, weirdly, believe that his stance as "the only grownup in the room" who forces his own party to abandon its core principles for the sake of an austerity program will somehow win the gratitude of voters struggling with declining incomes and rising joblessness. Robert Kuttner
- Not only is corporate America using cash to fill space in bank boxes and stuff speculative mattresses overseas, they have decided to use some of it to pad the salaries of their CEOs. In 2010, the S&P 500 companies paid their CEOs an average of $11.4 million—an increase in CEO total compensation by 23 percent! <http://www.aflcio.org/corporatewatch/paywatch/>This collective raise could have hired nearly 32,000 median earning workers instead (or 63 workers per company). Joseph Dwyer
The Ultimate Goal of the Bankster-led Political-economic Warfare Being Waged Against Us Is . . . ? Richard Clark, OpEdNews
- Foreign Policy magazine recently ran an article entitled "The Next Big Thing: Neomedievalism," arguing that the power of nations is declining, and is being replaced by banks and other corporations, wealthy individuals, the sovereign wealth funds of monarchs, and city-regions. Meanwhile, leading progressive economists say that the true purpose of the bank rescue plans was "a massive redistribution of wealth, to the rich."
- America Is Being Raped ... Just Like Greece and Other Countries