PROOF that tax cuts do not create jobs: Bush’s decade was a lost decade for U.S. economy, workers (via Under the Mountain Bunker)

I always thought that once supply side economics failed in the 1980’s, the idea would be dead. That was a major miscalculation on my part. The idea that cutting taxes raises revenue is so much fun for some people, that facts do not inconvenience them.

James Pilant

PROOF that tax cuts do not create jobs: Bush's decade was a lost decade for U.S. economy, workers From the Washington Post: There has been zero net job creation since December 1999. No previous decade going back to the 1940s had job growth of less than 20 percent. Economic output rose at its slowest rate of any decade since the 1930s as well. Middle-income households made less in 2008, when adjusted for inflation, than they did in 1999 — and the number is sure to have declined further during a difficult 2009. The Aughts were the first decade … Read More

via Under the Mountain Bunker

Are Things As Bad As They Seem? (via Info Ink)

Yes, they are every bit that bad.

James Pilant

The partisanship…..the extremism……lack of respect…….the out right lies…….the misinformation (and yes, it is different from lies)…….and it all comes down to the American voter….YOU voted for morons and now you are paying the price for that vote…..I know, what could be so bad we might get lower taxes and balanced budget and spending controls….what could be so bad? Glad you asked!  While you were bobbing and weaving through t … Read More

via Info Ink

When there are no good jobs left in America, there will be no middle-class (via Under the Mountain Bunker)

The job situation in America is a great moral and ethical question.

Over the past three decades, jobs have been exported, eliminated or converted downward into low pay service or part time jobs. This has enriched a small number of Americans – the top one percent of the population now controls 42.7 percent of the financial wealth of the nation – the top ten percent have 93 percent of the nation’s wealth.

The result – – the bottom 90 percent of the American people own 7% of the nation’s wealth.

If globalism and free trade are inevitable. If the free market is the best method of determining economic results, then a continuation of this is all that awaits us.

Americans are handicapped when it comes to having jobs in a world wide market. Americans have roads, bridges, police, fire departments, educational systems and an extensive military. These require taxes. Corporations have no desire to pay taxes and so they go to countries who have favorable tax laws or are willing to forego taxes for the jobs shipped there. Americans tend to be well educated and middle class. This means they will not work for 75 cents an hour and expect to be treated with some respect while having a high survivability on the job. This is inimical to the interests of corporations. It is easier to manipulate and use poorly educated people with no social standing. Safety costs money and killing Americans draws attention while dead foreigners are less of a problem. Americans live in a nation that has laws. Corporations do not want laws restricting their activities and they absolutely do not want to be prosecuted for their crimes.

So, if globalization and free trade are inevitable all we have to do to compete in a global economy is to give up way of life and gradually drift downward in our standard of living but only for the bottom 90%.

Is this a moral outcome?

Are the citizens of the United States similar to bacteria on a slide under a microscope? Do they deserve that level of analysis? .. the cold powerful corporate intellect realizing that a dash of penicillin could clear the way for new corporate profits?

Or do human beings have souls? Do Americans have a duty one to another? Do companies organized and financed in this nation bear a responsibility for their economic decisions?

There are things like justice, honor and duty. These are a joke in the world of the international corporation. I don’t believe these ideas draw laughter among the general population.

James Pilant

From Business Insider: 40 Facts That Prove The Working Class Is Being Systematically Wiped Out. Here are 10 of the 40 facts: #9 — Only 66.8% of American men had a job last year. That was the lowest level that has ever been recorded in all of U.S. history #10 — During this economic downturn, employee compensation in the United States has been the lowest that it has been relative to gross domestic product in over 50 years #11 — The number of “low i … Read More

via Under the Mountain Bunker

What I’m Reading Today – Death of the Liberal Class by Chris Hedges

Death of the Liberal ClassI ordered this online and I have been very impressed. This is the first book by Chris Hedges that I have ever had. I am annoyed with myself for not having discovered him earlier.

Here is an excerpt – The inability of the liberal class to acknowledge that corporations have wrested power from the hands of the citizens, that the Constitution and it guarantees of personal liberty have become irrelevant, and that the phrase consent of the governed is meaningless, has left it speaking and acting in ways that no longer correspond to reality. It has lent its voice to hollow acts of political theater, and the pretense that democratic debate and choice continue to exist.

I think the correctness of his reading is illustrated today by the negotiations over the debt ceiling held between Congress and the President. The liberals, toothless and pointless, are not at the table. The great accomplishments of the liberal and progressive movements over the past one hundred years lay like so many cuts of meat served up on the negotiating table between the two sides, and the Progessives in Congress may just as well not exist. The President proposes cuts to both Social Security and Medicare with no one to stop him. Even the AARP folded like a house of cards. Liberalism as an effective political force is a joke, a satire on its past and a cautionary tale of expediency and stupidity destroying a movement. In particular, the willingness of its candidates to court corporate money and to sell out teachers, workers, soldiers and retirees speaks more of a moral vacuum than it does of effective politics. Without idealism and morality, political movements based on doing the right thing for the poor, the working class and the disadvantaged, have no identity.

I am often asked what we should do about a Wall Street excess, an unfair law, the rich evading taxes and many other things. I’ve taken to dodging the question because explaining to concerned citizens and students that there is no one to turn to, no one to vote for, no one to ask for help, … is depressing in the extreme.

There are two parties in the United States. One is devoted to privilege and a desperate need to stay in power. The other is devoted to privilege and a desperate need to stay in power. Neither deserves a single vote or a moment of serious concern.

Nevertheless, the only remaining arena of possible action is there. However, I have been getting a sense of the nation, that perhaps other choices beside the peaceful are being considered. I do not want to see violence but it is more and more likely.

James Pilant

To get your own copy, you can go here. jp