Many people in the US are beginning to feel that "the system" is stacked against them. And the sad thing is that they are right---the system is stacked against them. The system favors the...
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Many people in the US are beginning to feel that "the system" is stacked against them. And the sad thing is that they are right---the system is stacked against them. The system favors the...
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We have become a democracy in name only. We are a corporate oligarchy, controlled by the big corporations. Once upon a time, from about 1945 to about 1975, the fate of the American workers and the big corporations were tied together. As the big corporations prospered, the wealth created by the American workers was...
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There is a bill making its way through the US Senate that would punish China and other countries which keep their currencies artificially low. By keeping their currencies low, the exports of these countries are cheaper for other countries to buy. The bill would allow the US to enact tariffs and other penalties against...
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While it is unknown if the “Occupy Wall Street” protest movement will grow much larger, there is clearly a growing feeling in this country that the politicians have abandoned the poor and middle classes. Our politicians have allowed the big corporations and financial institutions to pillage our economy. The deregulation of our trade laws...
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The Republicans running for President, as well as the Republican leadership, have been putting forth their plans to reverse our economic problems. But, cutting taxes, cutting spending, cutting regulations, and balancing the budget are not going to stop our economic decline. We deregulated our banking system, deregulated trade laws, passed the “Bush tax cuts,”...
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Recently, illegal immigration is in the news again as a US Federal judge ruled that many parts of Alabama’s new law affecting illegal immigrants is legal. Not only have illegal immigrants taken jobs from American workers, but illegal workers have also driven down the wages for many other jobs. This is because the millions...
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The economy of the United States reached new heights of prosperity during the decades following World War II. The 1950s and 1960s were extremely productive, and the American worker became the envy of the world. It was not unusual for a working man to support a stay-at-home wife and three, four, or five children...
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When you read about the booming Chinese economy, most of this Chinese prosperity is wealth being transferred from the US to China. This wealth transfer is in the form of money and jobs. But, also technical know-how, patents, industrial processes, and entire factories have been transferred to China and other Asian countries....
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The proposed spending cuts by the Republicans will do nothing to pull our economy out of our its dismal downward spiral. A balanced budget is not going to create jobs in America. And tax cuts will not create jobs either. The “Bush tax cuts” could not keep us out of a recession, but they...
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Why do our politicians continue to deny reality? Why build up hope that our economy will create new jobs in “clean energy technology?” It is very difficult, if not impossible, for large-scale factories producing “clean energy” products, such as solar panels, wind turbines, etc. to exist in our country without huge government subsidies and...
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There have been various proposals floating around to cut our dependence upon imported oil, such as raising the tax on gasoline. While I agree that our dependence on foreign oil is not good, raising the tax on gas by $1 or more per gallon would be extremely painful for our working classes and poor....
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While it is good for the people of Haiti to be given a chance to better themselves, I don’t think that we should tell American garment workers that we have sent their jobs to Haiti. Under a new free trade agreement passed by Congress in 2010, South Korean garment companies are going to sell...
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In the booming 1950’s and 1960’s, jobs were plentiful for college graduates. I recently spoke to a person who graduated from a small state college with a degree in accounting in the early 1960’s. After graduation, he went into the military for four years. Upon leaving the military in the late 1960’s, he applied...
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Millions of our factory jobs have been sent to China and other third-world countries. But, we have lost many more jobs in our economy than just the factory jobs that were sent to China. Because of something in economics called the “multiplier effect,” each factory job creates another 2-4 jobs elsewhere in the economy....
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