Selected ShortsPosted: July 18, 2013
When Will the Greedy Go On Trial?
When will are politicians and courts begin to be as tough on the Wall St. bankers and speculators as they are on terrorists? Wall Street’s reckless quest for greater and greater profits has led to more deaths due to malnutrition, lack of medical care, homelessness than all terrorists activities combined. When do these greedy ones go on trial?
Larry Ellison, CEO of Oracle, earns in total compensation, every hour, the annual average salary of an American worker.
Governor Cuomo’s Latest Giveaway
“Just when you think that you have heard all of the giveaway schemes, Cuomo comes up with this.” These are the words of one small businessman from Binghamton. He was reacting to the proposal by Cuomo to make a 200,000 sq. ft. rim around state universities and state buildings tax free zones. Businesses that move into these designated areas would pay no sales tax, no property tax, no corporate tax and those employed there would pay no state income tax.
Will The Parties That Supported Cuomo Please Speak Up? Where Are the Public Service Workers?
Just to prove that the Democrats are as business friendly as the Republicans, Cuomo jets around the state giving financial incentives to the few at the top while those below pay more taxes and lose more public services. Trickle down Cuomo, the friend of the big corporations and banks! How else do you raise campaign funds to run for higher office?
The man of the people, he ain’t!
Percentage of Organized Workers Falls
According to the Bureau of Labor Statistics on unionization, the percentage of organized workers in the U.S. took a sharp decline last year, dropping from 11.8 % in 2011 to 11.3% in 2012. The largest dip came from job losses in the public sector, which caused overall public sector union rates to drop more than a full point in one year; from 37% to 35.9%. Are these the same unions that backed public job busting candidates like Cuomo?
Corporate Profits Rise 171% Under Obama Administration
According to a Bloomberg News analysis, corporate profits have grown by 171% under the Obama Presidency. This is the highest level relative to the size of the economy since the government started keeping records in 1947. Profits are more than twice as high as their peak during the Reagan administration and average annual corporate profit growth under Obama is the highest since 1900. Who said that the party of big business was only the Republican?
Median Wage of Workers Drops
According to the Bureau of Labor Statistics the median wage of American workers is 8% below what it was in 2000. The median pay of jobs created during the “recovery” is less than the median wage of the jobs lost in the downturn.
Obama Appointments Tarnished by Scandals
In May 2013, President Obama announced three critical appointments tarnished by banking scandals, bailouts, lobbying and bundling. Penny Pritzker a billionaire heiress embroiled in banking failure and labor abuse was named to head the Department of Commerce. Michael Froman, a managing director at Citigroup during its collapse and bailout, was appointed as the U.S. Trade Representative. Tom Wheeler, venture capitalist and former communication-industry lobbyist, was named to chair the Federal Communications Commission.
Cost of College Textbooks Rise 812%
Information from the Census and the Bureau of Labor Statistics shows that since 1978 inflation has gone up 250% while the cost of college textbooks has gone up 812%. The cost of textbooks can consume nearly half of the student loan package for those attending community colleges or paying in-state tuition at state schools.