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Tag: economy

A World Without Work

A World Without Work

Our society may soon be rich enough that fewer and fewer people will need to work, where leisure becomes universally accessible, where part time jobs replace the regimented work week and where living standards keep rising even though more people have left the work-force altogether. If such a utopia were possible, one would expect that it would be achieved first among the upper classes, then the middle class and finally even high school dropouts would be able to sleep late,…

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Money Will Find a Way

Money Will Find a Way

Fifty years ago some investment bonds were less a piece of clever financial engineering than elaborate tax dodges. The increasing movement of money into speculative trading activities by the big banks, and the cost of decreasing traditional business activity that support higher levels of employment are troubling. Some call the trend a gambling device more easily manipulated than investment in production of goods and services. Senator Elizabeth Warren of Massachusetts has introduced legislation that seeks to return the financial industry,…

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Our Tax Crisis

Our Tax Crisis

Wealthy investors felt that the 14,000 level of the DOW was worrisome, even dangerous because it might be the result of the money the Federal Reserve has put into the financial system. They worried that it was not supported by corporate fundamentals. These heavy hitters feared that another financial crisis could lead to deflation, destroying stability and stock values of dividend paying investments. In the last quarter of 2012, growth contracted in the developed world. The 34 member countries gave…

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The Windfall of Immigration Reform

The Windfall of Immigration Reform

The Democrats have demographic dreams. Liberals are counting on population and voting trends to doom Republicans to minority status that will last for a long time. This expectation is at the heart of the debates in Congress about immigration. Democrats believe that they will be on the winning side in future elections. The first election of Barack Obama set the trend. His landslide reelection confirms the change in voting patterns. The white Americans who tend to vote Republican are shrinking…

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Inequality is the Real Financial Crisis

Inequality is the Real Financial Crisis

The reelection of President Obama is subject to many interpretations. Each side debated issues that affect a long malaise into which the economy seems to be settling, and the growing divide between the 1% and the rest is an inequality not only of outcomes but also of opportunity, as pointed out by Nobel Laureates Paul Krugman and Joseph Stiglitz. These problems have driven inequality to its highest level since before the Depression and will be difficult to overcome – and…

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The Struggle against Poverty & Inequality

The Struggle against Poverty & Inequality

The popular movements in the 1960’s, women’s reproductive rights, civil rights, sexual rights and so forth left us unprepared for the slowdown in growth and the rise in inequality in the current decade. Today, with union membership reduced to 7% of the private sector most working people have no organized voice at all. Meanwhile, the power of wealth has been fully unleashed by the Supreme Court. The rich protect their freedom with wealth and the people protect theirs with laws….

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The Real Reagan Lesson for Romney/Ryan

The Real Reagan Lesson for Romney/Ryan

President Ronald Reagan has become the patron saint of political Republicans, an inspiration and a model for their few glory days since Abraham Lincoln. He has a lesson for the Romney/ Ryan ticket, a lesson that contradicts the low budget and reduced public services advocated by the Republicans. Facing a severe decline in business activity and employment, Reagan horrified his advisors by raising government spending massively, more than his Democratic predecessor did. He stimulated the US economy and led the…

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The Romney Election Strategy

The Romney Election Strategy

Presidential possibility Mitt Romney has a 59 point economic plan to implement his vow to crackdown on China’s trade policy. What is unusual is that Romney’s business experience has identified him with the Republicans’ free-trade, pro-business wing, yet he has promised to go farther than President Obama in confronting China. Other business leaders warn that his approach could set off a trade war that would damage the United States economy. The political question is whether Romney’s stance can attract enough…

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Pay Your Fair Share of Taxes

Pay Your Fair Share of Taxes

by Jerome Grossman & Daniel J Grossman Fair Share Taxation means that those who benefit the most from the generation of wealth at home and abroad should pay their fair share of the costs and sharing the benefits accruing from the profits of the unparalleled American Empire The vast gap in income and taxes between the haves and have-nots is no longer a rallying cry to incite anti-capitalist advocates. It has become a mainstream issue debated openly, often with both…

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Attention to The 99% Must Be Paid

Attention to The 99% Must Be Paid

The unifying desire of the world movement known as “Occupy Wall Street” is absolutely clear. They want attention paid to them and their imprecise groping for a more equitable society. With extraordinary simplicity and without an explicit agenda, the 99% have placed their bodies on line before the world as symbols of the overpowering requirement to modify the dictatorship of the financial overlords. Remarkably, this revolutionary movement originated in the poorest and least democratic societies on earth. One thousand years…

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