Mitt Romney’s Debt Hypocrisy

Mitt Romney’s Debt Hypocrisy

• Mitt Romney’s campaign of fiscal responsibility is hypocritical considering he made his immense fortune by saddling others with massive amounts of debt. • Romney made $250 million by loading up companies with debt, then extracting million-dollar fees for ‘advice’ on how to finance the debt he burdened them with.…

Inequality By Design

Inequality By Design

• The economic struggles of the middle-class since the late 70s are not just the result of globalization and technology. • The corporate and financial sectors have organized and financed a long series of changes that tilt government policies in their favor: tax laws, deregulation, corporate governance, the safety net,…

Teddy Roosevelt, Republican ‘Socialist’

Teddy Roosevelt, Republican ‘Socialist’

• The modern republican party loves to call progressive taxation socialist, but it was originally championed by republican Theodore Roosevelt. • Roosevelt felt that transferring enormous fortunes through inheritance was a 'socialist' idea because it would put idleness on an equal level with industry. • He also believed that progressive…

Conservatives Ignore Corporate Welfare

Conservatives Ignore Corporate Welfare

• The right wing loves to characterize middle-class tax cuts as 'welfare' while complaining that corporations pay the highest income tax in the world. • They're wrong on both counts when you look at the effective tax rate; what is actually paid after ALL taxes are added up and all…

The End Of The Social Contract

The End of the Social Contract

1947-1974 • US productivity rose 97% and median wages rose 95% • Labor's share of national income was 50% • The three largest employers were high-wage and unionized: AT&T, GM, Ford • 1/3 of labor was unionized 1975- • US productivity rose 80% and median wages rose 10% • Labor's…

Reagan’s Horrific Legacy

Reagan’s Horrific Legacy

• The Reagan 'Revolution' has come home to roost and we live with its consequences in our current economic nightmare. • Supply-side republicans weren't a majority in the early 80s, but they got a boost when Reagan realized he could balloon the deficit and sell the debt to China. The…

The Reagan Devolution

The Reagan Devolution

• Reagan's policies changed America from the largest creditor nation to the largest debtor nation. • As productivity increased, only the rich benefited with wealth concentrating intensely at the top. • Working people's share of income was reduced, forcing them to live on savings and go into debt. The Reagan Revolution –…

Rise Of The New Left

Rise of the New Left

• Sociologist Karl Mannheim argued that political generations are formed by what historical disruptions occur during their 'plastic years.' • An entire generation of Millennials entered their plastic years during the Bush era and experienced all the drawbacks of a deregulated government and a destroyed economy. This has shaped the…