The Occupy Wall Street Protests that started in September 2011 & and then spread across the nation have highlighted ongoing problems of massive unemployment & income inequality in the U.S. Elected officials, various members of the news media, & even a few of my own friends have mocked this movement. I believe that it is possible to find a different story for every day of the year that answers "Why They Occupy".
Tuesday, January 31, 2012
Romney: Only the Wealthy Should Run For Office (for 1/9/12)
Mitt Romney suggests only the Wealthy, a.k.a. The Top 1%, should run for Congress. In the NBC/Facebook GOP Debate, he said his father was wise enough to tell him to never run for any elected office "if you need to win an election to pay a mortgage." Only Rick Perry's campaign team took offense among GOP Presidential contenders.
Romney ought to tell that to the hundreds of thousands of American kicked out of their homes in the wave of foreclosures over the past 6-7 years. They would seek reparations for all those kicked out of their homes and not just tougher regulations to prevent banks from pushing bad mortgages on unsuspecting homeowners. They would seek topunish them, too.
http://2012.talkingpointsmemo.com/2012/01/mitt-romney-dont-run-for-office-if-you-need-the-salary.php
Romney Tax Plan Least Generous to Top 1% Among GOP Candidates (for 1/8/12)
Mitt Romney wants to give millionaires and billionaires even more tax cuts they don't need. But, among GOP Presiential candidates the least generous to the Top 1% of the wealthiest Americans. He would still tax a millionaire's income at an effective rate over 25% on everything above $1 million. Newt Gingrich's plan would see even steeper tax cuts for the wealthy, as nobody would face a rate over 18%. Millionaires would face an effective tax rate of 11-12%. Under Rick Perry, Nobody would face a rate of ovr 20% and millionaires would face a rate of 15%. Under Herman Cain and his infamous "9-9-9 Plan", millionaires would pay the lowest tax rate of everyone. This is the worst plan of all as everyone from $35,000 to $200,000 would face the highest tax rates.
Millionaires currently face a top rate of 35%. They are not suffering. They cannot get more tax cuts with the possibility of Medicare or Medicaid cuts in the near-future. That would be inhumane.
http://news.firedoglake.com/2012/01/06/relative-to-gop-field-romney-tax-plan-gives-less-to-the-rich/
62% of Bankruptcies Come From Medical Bills (for 1/7/12)
People who got sick over the past decade risked going broke if they did not get healthy. People who got ill accounted for 62% of all 2007 bankruptcies. From 2001 to 2007, bankruptcies caused by illness soared 20%. These people were generally well-educated homeowners in the middle class and covered by health insurance. As a share of all bankruptcies during this time period, the share related to sickness doubled. It is likely that the deep economic recession and slow recovery of the past five years has worsened these problems, propelling the need for healthcare reform. Lobbying from healthcare companies prevented stronger reforms like a public option or single-payer healthcare that would have helped keep sick people from going bankrupt.
http://www.dailykos.com/story/2012/01/05/1051848/-Medical-bills-cause-62-percent-ofbankruptcies
Romney Tax Plan Benfits The Rich; Hurts Everyone Else (for 1/6/12)
Mitt Romney's tax plan would help those in the Top 1% the most. Millionaires will get an average tax cut of nearly $150,000. Those making up to $100,000 get small tax cuts ranging from $27 to $490. Those in the middle class would effectively get a tax hike, as everyone at $40,000 or under would have to pay $14 to 191 in extra taxes. It would also increase the Federal budget deficit, causing the National Debt to go up.
http://www.dailykos.com/story/2012/01/06/1052212/-Mitt-Romney-tax-plan-would-hurt-low-and-middle-income-Americans,-give-huge-tax-cut-to-wealthy?via=blog_1
http://www.taxpolicycenter.org/numbers/displayatab.cfm?Docid=3256
Monday, January 30, 2012
Doctors' Financial Problems (1/5/11)
Need to see a doctor and live in a poor community? Thought healthcare reform passed in 2010 helped increase access to healthcare? There are other problems to deal with to increase access to it. American doctors are under financial distress. Physicians practicing general medicine, cardiology, and oncology are all facing these problems. Fifty percent of America's doctors operate their own practices. Communities lose important health care resources when they go broke.
http://www.huffingtonpost.com/2012/01/05/doctors-going-broke_n_1186653.html
Austerity Plans Solve Nothing; May Cause European Depression (for 1/4/12)
If European nations come together this year with an austerity plan that would sharply curtail government spending for all member nations of the European Union, it may cause a depression in Europe. Prior to the economic crisis, Spain had low debt relative to its economic size. During this time, Greece was the only European nation not within the 3-4% target rates for deficits. Government stimulus and bailouts drove up deficits since then. Poor investments have caused Europe's problems. Italy and Greece did not invest in research and development. No central bank in Europe has acted as the European Union's emergency lender. Therefore, bond market speculators are gambling on their ability to pay their loans. Great Britain has grown slowly, but speculators have not yet gone after this nation as it will always pay off its debts, thanks to the Bank of England.
http://www.alternet.org/economy/153656/austerity_plans_are_based_on_the_wrong_diagnosis_of_the_wrong_problem_--_and_may_plunge_europe_into_depression
San Francisco 1st American City With $10/Hr Minimum Wage (1/3/12)
Ten dollars per hour is not a lot live on, and this would therefore make a decent minimum wage as opposed to the current minimum wage of $7.25/hour. Despite employer opposition, San Francisco's minimum wage rose to $10.24 per hour starting this year. Many studies show that a higher minimum wage helps retain workers and cut down on employee turnover-related costs, such as recruitment and training. They also show that it does not really hurt overall employment. If San Francisco is the first city to do this, will other American cities be smart enough to follow?
http://www.alternet.org/economy/153620/san_francisco_becomes_first_in_nation_with_%2410_minimum_wage_%28and_the_sky_isn%27t_going_to_fall%29?page=entire
Wealthy Americans Want to Be Anonymous (for 1/2/12)
In this video, an Aljazeera reporter tried interviewing affluent Americans about their riches. They had no success getting anyone to answer. Therefore, many in the Top 1% choose anonymity. The reporters concluded that they gained the wealth through manipulation and use their wealth to gain political power.
http://www.aljazeera.com/programmes/faultlines/2011/08/201182103727247514.html
Birther Joke From Matt Romney Over Dad Mitt's Tax Return (for 1/1/12)
Occupy Wall Street protesters may not be happy with the job Obama has done as President, whether it includes failing to end the Bush Tax Cuts for the Wealthy, reforming healthcare by enacting a single-payer system, bring home all the troops fighting abroad, or pass climate legislation. But, they undoubtedly do not approve of conservatives and other right-wingers making birther jokes questioning whether or not Obama is an American citizen. They want to see them instead push Obama to actually come up with proven, non-ideological ideas to solve our nation's biggest problems. They do not want Matt Romney, son of leading GOP Presidential candidate Mitt Romney, cracking jokes about President Obama's birth certificate when he gets questioned on when Mitt will release his tax returns.
http://2012.talkingpointsmemo.com/2011/12/mitt-romneys-son-obama-should-release-birth-certificate-grades.php
Stocks Fall; Bank CEO's Still Paid Well (for 12/31/11)
2011 was not a good year for bank stocks. But, their leaders still got paid lavishly. JP Morgan Chase CEO Jamie Dimon will get nearly $42 million in total 2011 pay, even has his bank's stock declined 23%. Brian Moynihan will still get $2.26 million even though his bank's stock is now only 40% what it was at the start of the year. Lloyd Blankfein, Goldman Sachs CEO, will get $21.7 million even though its stock fell nearly 50%. Stock options and the expectations of the market for the next year often explain why their pay keeps rising.
http://www.cnbc.com/id/45817416
Community College Funding Cuts Drive Students To For-Profit Schools (for 12/30/11)
When community colleges lack the funding to offer courses students want, they end up taking classes at for-profit schools, which charge much higher tuitions. These private schools that currently profiteer off of poor students currently face investigations from at least 20 state attorneys general. Many students that graduate wind up unemployed and unable to pay their loans. Eighty percent of students at for-profit colleges borrow to attend, but only 20% of community college students need financial assistance. California has most students in higher education, but its community colleges will reject 200,000 potential students due to budget problems. Students from for-profit schools account for 45% of those unable to repay their loans.
http://www.huffingtonpost.com/2011/12/30/community-college-for-profit-college_n_1174243.html
Countrywide Settlement Lets Bank of America Off the Hook (for 12/29/11)
Bank of America's punishment of a $335 million fine to the Federal Government for overcharging more than 200,000 black or Hispanic borrowers is not an adequate reparation for this bank's actions. This fine does not match the massive profits Countrywide made in the boom before the housing market crashed. The bank pushed these otherwise creditworthy individuals into subprime mortgages. These practices expose racism in this company's lending practices. Banks foreclose on the homes of these minorities more frequently than whites.
http://www.cbsnews.com/8301-505123_162-57347259/why-the-feds-countrywide-settlement-settles-nothing/?tag=cbsnewsMainColumnArea
The 99% are More Giving Than The Top 1% (for 12/28/11)
While the wealthiest 1% of Americans donate more overall income than all other Americans, they are actually less charitable than other Americans. Wealthy people often establish their own philanthropic foundations for giving. Their donations often go to cultural causes, their alma maters, and other causes not primarily interested in helping those in great need. The rest of Americans donate through their churches. The wealthiest Americans' giving is most often influenced by tax breaks. Their donations are fully tax deductible, but the law requires a foundation to only give away 5% of its total funds annually. But, charitable donations have ranged from 1.7 to 1.95% of earnings per year, even as the top individual tax rate has dropped from 70% in 1980 to 35% in 2003. The result of this is huge public sector losses of around $250 billion, maybe more, to Federal and State Governments.
Sometimes, as in the case of Charles Koch, their giving serves their own purposes. Since 2008, Koch has donated money to Florida State Univeristy to hire economics professors according to his preferences. Therefore, he can pick professors who will teach students his views on free market capitalism and why government is bad.
http://www.alternet.org/story/153560/the_giving_season%3A_why_the_99_are_actually_more_philanthropic_than_the_1/
Friday, January 27, 2012
Unemployment, Anti-Depressant Use Related (for 12/27/11)
Americans have turned more often to anti-depressants and high-blood pressure medication as the unemployment rate has risen over the last five years. Drug company ads are another cause of higher prescription use. The high amount of foreclosed homes and lack of jobs have caused a spike in compulsive behavior. Problems realted to gambling, drinking, depression, and anxiety have soared as the economy soured. The long, slow recovery is another contributing factor.
http://www.huffingtonpost.com/2011/12/27/stress-medication-unemployment_n_1171125.html?ref=business
Congress Members' Growing Wealth Separates Them From Constituents (for 12/26/11)
The average Congressional Representative's net worth in 1984 was $280,000. In 2009, it was $725,000. The average American's net worth went from $20,600 to $20,500 over that time. The inflation-adjusted cost of a winning campaign for a House Representative seat is now $1.4 million, four times what it was in 1976. Having great wealth often influences how come members of Congress vote on bills. The wealthiest members foten vote to protect the wealth of the very wealthy.
http://www.washingtonpost.com/business/economy/growing-wealth-widens-distance-between-lawmakers-and-constituents/2011/12/05/gIQAR7D6IP_story.html
GOP's Hostage-Taking Tactics (for 12/25/11)
In a broken political system, one thing that makes every non-Republican angry is the Republicans' history of holding publicly beneficial programs or policies captive to their extreme demands. Current Republican Presidential contender Newt Gingrich used this mindset to shut down the U.S. Government when he was Speaker of the House in 1995 and 1996. The GOP did this to get the Bush Tax Cuts for the Wealthy extended for another two years. It started with Richard Nixon's 1968 sabotage of President Lyndon B. Johnson's Vietnam peace talks to win the election. Republicans did it again in 1980 as they secretly conspired with Iranian radicals to delay the release of 52 American hostages, helping Republicans to win back the White House from Jimmy Carter. Out of fear, both Johnson and Carter did not go to the public to expose these shady dealings. Republicans currently use these tactics on President Obama on issues such as job creation, the debt ceiling, and the payroll tax holiday. Democrats usually cave in without making the GOP pay a strong political price.
http://www.alternet.org/story/153559/the_gop%27s_long%2C_sordid_history_of_shameless_hostage-taking/
Wednesday, January 25, 2012
Internet Shopping Workers Treated Badly (for 12/24/11)
Companies selling products, including items bought as Christmas gifts, over the Internet treat their workers very poorly. They often work 12-hour shifts five days in a row, face verbal abuse for not keeping pace with customers' orders, and cannot form unions. Amazon.com workers fainted in the stifling heat last summer at its warehouse in Breinigville, Pennsylvania.
http://www.alternet.org/economy/153556/the_nasty_truth_about_the_online_retailers_you_probably_used_for_your_holiday_shopping/?page=entire
Milwaukee Federal Judge: SEC Settlements Too Weak (for 12/23/11)
Milwaukee Federal Judge Rudolph Randa ruled that SEC's settlement with headphone manufacturer Koss Corporation, which the agency charged with accounting fraud from 2005 to 2009. Randa asked the SEC to provide additional evidence that it could enforce provisions in the settlement, in which Koss promised to no longer engage in fraduluent accounting.
http://www.huffingtonpost.com/2011/12/22/sec-settlement-judge-koss_n_1165792.html
http://www.bloomberg.com/news/2011-12-21/sec-s-court-troubles-in-citigroup-settlement-echo-in-wisconsin.html
Salesman Pressured to Sell Predatory Mortgages (for 12/22/11)
Greg Saffer started working in Los Angeles for Washington Mutual (WaMu) Bank selling mortgages for them in 2007. He left in January 2008 after refusing to sell predatory mortgages to homebuyers and then filed a lawsuit in 2009 against JP Morgan, which bought WaMu in September 2008 after it became the largest U.S. bank failure ever. Half of all of WaMu's mortgages included borrowers of good credit. The bank tricked them with minimum payments below the interest charged to their loans, adjustable-rate mortgages which increased their balances and prevented homeowners from paying them off. These products were five times more profitable than regular mortgages.
http://www.huffingtonpost.com/the-center-for-public-integrity/the-mortgage-salesman-who_b_1164703.html?ref=business
Tuesday, January 24, 2012
Wall Street 2011 Pay on Record Pace Amidst Layoffs, Cancelled Holiday Parties (for 12/21/11)
A stunning Christmas hypocrisy from Wall Street Banks: They will pay a record $156 billion in 2011 wages, benefits, and bonuses, even though the financial sector cut 200,000 from its workforce this year. This is 3.7% more than 2010. Goldman Sachs workers will receive an average total pay package of $362,862, even though it reported its second loss ever as a public company. Banks will not celebrate the Holidays lavishly this year.
http://www.huffingtonpost.com/2011/12/20/wall-street-pay-2011_n_1160580.html
Blue-Collar Workers: Now Temporary in Permanent Poverty (for 12/20/11)
Today's blue-collar workers get temporary work and face permanent poverty. They get paid low wages from firms that staff temporary workers for big-box retailers. High unemployment means little job security for these workers as replacements are immediately available to start in place of unproductive workers. They also do not receive medical benefits for doing hard, tiring, back-breaking work. In one example, Asian and European student workers walked out in mass on a Hershey's plant to protest working conditions, including lifting heavy items and deportation threats.
http://www.huffingtonpost.com/2011/12/20/new-blue-collar-temp-warehouses_n_1158490.html
Monday, January 23, 2012
Financial Sector Now Greater Share of Economy Than Prior to Economic Crisis (for 12/19/11)
Compared to 2006, the financial sector now has an 8.4% share of U.S. GDP and is a bigger part of the economy as a whole. Big Banks's bad risky investments led to the 2008 TARP taxpayer bailout, high unemployment, and plunging real estate values. Their lobbying on Capitol Hill has also stirred public outrage.
http://www.huffingtonpost.com/2011/12/15/financial-sector-economy_n_1151058.html?ref=financial-reform
The Top 1% Cares Most About Deficits, Wants Private-Sector Solutions (for 12/18/11)
Of America's Wealthiest 1%, about 32% thought the U.S. Budget Deficit and Debt is the U.S.'s biggest problem and only 11% thought economic growth/jobs was. Nearly half of all Americans think the economy and jobs are the biggest problem, and only 5% thought the Debt was. The wealthiest 1% often prefer private sector solutions such as philanthropy to the economic problems. But, they often do not engage in more charitable activity, even if they do not trust government.
http://fivethirtyeight.blogs.nytimes.com/2011/12/14/the-politics-of-the-1-percent/?hp
Federal Reserve Emergency Loans Totaled $29 Trillion Over 3 Years (for 12/17/11)
At least $29.616 trillion in emergency loans both in the U.S. and Internationally since the 2008 Financial Crisis. Much of this lending was to shadow banks, institutions with high leverage that can put the economy at risk. Through March 2009, banks made $13 billion of income from low- interest loans.
http://www.alternet.org/economy/153462/Bail-out_Bombshell%3A_Fed_%22Emergency%22_Bank_Rescue_Totaled_%2429_Trillion_Over_Three_Years/
Census: Half of Americans are Poor or Low-Income (for 12/16/11)
An amazing 50 percent of Americans are now of low-income. There are fewer middle class Americans according to the U.S. Census and safety net programs such as food stamps and tax credits face cuts, further endangering low-income Americans.
http://news.yahoo.com/census-shows-1-2-people-poor-low-income-054325860.html
2010 CEO Pay in U.S. Up 27-40% (for 12/15/11)
American CEOs saw their pay rise between 27 and 40 percent in 2010. Meanwhile, inflation outpaced pay raises for most Americans. Median stock options profits increased from $950,400 to $1.3 million for CEOs. The ten biggest CEO paychecks amounted to over $770 million. Executives at General Growth Properties, even as this firm recovers from bankruptcy, received nearly $115 million in 2010 bonuses.
http://www.guardian.co.uk/business/2011/dec/14/executive-pay-increase-america-ceos
Luxury Goods Selling as 1% Go Shopping (for 12/14/11)
Tiffany, Burberry, and Neiman Marcus are some of the luxury retailers who are benefitting from the top 1% of the population's immense wealth. Their sales are up. Best Buy, Sears, Target, and other retailers with mostly middle class customers are not doing as well.
http://abcnews.go.com/Business/holiday-luxury-sales/story?id=15157173
U.S. Senator: Good Workers Quickly Advance Beyond Minimum Wage (for 12/13/11)
During a meeting with unemployed constituents, Wisconsin Senator Ron Johnson said, "when you're a good worker, you don't stay at minimum wage for long." He defended his views on keeping minimum wage low by saying that regulations have put too much of a strain on businesses. He does not want to spend on unemployment insurance because of the amount it increased the National Debt.
http://www.huffingtonpost.com/2011/12/13/ron-johnson-minimum-wage_n_1146194.html?ref=unemployment
http://www.huffingtonpost.com/2011/12/13/ron-johnson-minimum-wage_n_1146194.html?ref=unemployment
Exploitation of Port Truck Drivers by Banks (for 12/12/11)
Port truck drivers are treated, at an 82% rate, as independent contractors not employees. Goldman Sachs is a 50 percent owner of SSA Marine, an operator of four Long Beach, California port terminals. This operator has had safety problems as one worker was pinned to death between two trucks and another was nearly crushed to death by a cargo container. New companies drove unionized companies out of business and sold their trucks to their drivers to further exploit them. Everyday these drivers must pay for truck leases, sign new contracts, and inspect their vehicles, for which they are liable for damages. They get paid by the load, not an hourly wage, and do not receive benefits. Contract workers are often not covered by workplace health and safety laws.
http://www.alternet.org/occupywallst/153393/how_goldman_sachs_and_other_companies_exploit_port_truck_drivers_%E2%80%94_occupy_protesters_plan_to_shut_down_west_coast_ports_in_protest?page=entire
http://www.alternet.org/occupywallst/153393/how_goldman_sachs_and_other_companies_exploit_port_truck_drivers_%E2%80%94_occupy_protesters_plan_to_shut_down_west_coast_ports_in_protest?page=entire
Tuesday, January 17, 2012
President Obama: Economic Recovery Could Take Years (for 12/11/11)
President Obama says in 60 Minutes interview that it will take years before the economy is stable again. He is not sure if the unemployment rate can be cut to 8% by next November's election.
http://www.huffingtonpost.com/2011/12/10/obama-60-minutes-interview-economic-fix_n_1140521.html?ref=unemployment
http://www.huffingtonpost.com/2011/12/10/obama-60-minutes-interview-economic-fix_n_1140521.html?ref=unemployment
Mitt Romney's $10,000 Bet at GOP Debate (for 12/10/11)
Who has $10,000 that they could just casually throw away as if it were nothing? Apparently former Massachusetts Governor Mitt Romney, the favorite for the GOP Presidential nomination, does. Romney did this by making a bet over his standing on his Massachusetts healthcare mandate with Rick Perry in the GOP Presidential debate in Iowa.
http://www.huffingtonpost.com/2011/12/10/mitt-romneys-10000-bet-rick-perry_n_1141387.html
http://www.huffingtonpost.com/2011/12/10/mitt-romneys-10000-bet-rick-perry_n_1141387.html
GOP: Drug Test the Unemployed & Welfare Recipients (for 12/9/11)
GOP Representative Jack Kingston of Georgia wants to test unemployment insurance applicants for drug abuse. In Florida, welfare applicants there faced drug testing starting earlier this year after its government passed a new law. But, then a federal hudge declared this testing in Florida unconstitutional. Those on welfare in Florida also have less failed drug tests compared to the national average.
http://www.huffingtonpost.com/2011/12/08/jack-kingston-drug-test-jobless_n_1135991.html?ref=unemployment
http://www.huffingtonpost.com/2011/12/08/jack-kingston-drug-test-jobless_n_1135991.html?ref=unemployment
Unemployment Extension Standoff (for 12/8/11)
GOP Representatives in Congress want to slash federal unemployment assistance from 73 weeks to 33 weeks. GOP state legislators also want to restrivt access to unemployments, even as job applicants often need to submit several dozen resumes to get one callback. http://www.huffingtonpost.com/2011/12/08/unemployment-extension_n_1137403.html?ref=unemployment
State Income Tax Dodging by America's Largest Companies (for 12/7/11)
American companies have devised numerous tax avoidance schemes to avoid paying state income taxes, according to Citizens for Tax Justice. They have used the expertise of lawyers to do this. http://www.huffingtonpost.com/2011/12/07/68-companies-state-income-tax_n_1133661.html?ref=goldman-sachs
If Top 1% Had Not Ripped Off Trillions, You Would Be Making Thousands More Now (for 12/6/11)
In 1947, the wealthiest 1% of Americans received almost 12% of national income. This figure fell to 10.7% by 1967. The wealthiest 1%'s share of America's income never topped 12.8% from 1949 to 1979, and stood at 10% when Americans voted Ronald Reagan President of the U.S. in 1980. This rose to 15.5% when he finished his term in Office and rose to 21.5% when George W. Bush became President in 2001. It rose further to 23.5% in 2007. This means the bottom 99% of Americans have seen their share of America's economic output fall by over 10%. Annually, this equals $1 trillion in extra income for the wealthiest Americans. Since 1980, if trends based on productivity for the middle class held form to today, they would be making an average of $12,500 more per year.
http://www.alternet.org/story/152621/if_top_1_hadn't_ripped_off_trillions,_you'd_likely_be_making_thousands_of_dollars_
http://www.alternet.org/story/152621/if_top_1_hadn't_ripped_off_trillions,_you'd_likely_be_making_thousands_of_dollars_
Senator Kyl: If you Want Middle Class Tax Cuts, Give the Rich a Massive Tax Cut (for 12/5/11)
Senator Jon Kyl of Arizona says he can support the payroll tax holiday in return for another extension of the 2001 and 2003 Bush tax cuts benefitting the wealthiest Americans. http://thinkprogress.org/economy/2011/12/05/382453/kyl-could-support-a-middle-class-tax-cut-but-only-if-the-rich-get-a-massive-tax-break-too/
Friday, January 13, 2012
SEC Regulations Target Lower Ranking Bankers, Not Their Bosses (for 12/4/11)
The SEC has gone after lower ranking bankers in their suits against banks, such as JP Morgan, Goldman Sachs, and Citigroup. It can charge the executives or management team of a bank with "failure to supervise."
http://www.huffingtonpost.com/2011/11/15/sec-regulations-targeting-low-level-bankers-instead-supervisors_n_1095915.html?ref=goldman-sachs
http://www.huffingtonpost.com/2011/11/15/sec-regulations-targeting-low-level-bankers-instead-supervisors_n_1095915.html?ref=goldman-sachs
Mortgage Lender Ends Most Lending in Mass. After Lawsuit (for 12/3/11)
What happens when a bunch of mortgage lenders get sued by a State Attorney General? One of them ends lending in that state. That is what happened in Massachusetts when Massachusetts Attorney General Martha Coakley sued five major banks for fraud and wrongful foreclosures. GMAC Mortgage, the nation's fifth biggest lender, ended most of its lending in Massachusetts as a result.
http://thinkprogress.org/special/2011/12/02/381115/mortage-lender-gmac-retaliates-against-mass-lawsuit-by-ending-most-lending-in-the-state/
http://thinkprogress.org/special/2011/12/02/381115/mortage-lender-gmac-retaliates-against-mass-lawsuit-by-ending-most-lending-in-the-state/
Women's Unemployment Not Improving (for 12/2/11)
What started out as a recession that slammed men at first is now hurting women more. Men are the ones experiencing the bulk of the gains created by the slow economic recovery, as unemployment for men was at 8.3% in November. At the start of the recovery in June 2009, it was 9.9% for men. For women, it has been stagnant since then. Part of the problem maybe due to Congressional failure to pass bills funding Federal Government jobs.
http://www.huffingtonpost.com/2011/12/02/many-baby-boom-women-going-bust-in-recovery_n_1126244.html?ref=unemployment
http://www.huffingtonpost.com/2011/12/02/many-baby-boom-women-going-bust-in-recovery_n_1126244.html?ref=unemployment
Tuesday, January 10, 2012
Tea Partiers Oppose Four Popular Social Programs (for 12/1/11)
Four popular social programs that Tea Partiers now oppose include School Lunches, Food Stamps, Community Health Centers, and the Earned Income Tax Credit (EITC).
In 2004, both Houses of Congress easily passed bills to fund school lunch programs. Of all Representatives and Senators, only Ron Paul voted against this program. In December 2010, the vast majority of House Republicans voted against funding this program.
George W. Bush urged increasing food stamp funding to legal immigrants during his Presidency. Now, Congressman Paul Ryan wants to turn food stamps into block grants that will cover less people as time goes by.
Spending on community health centers rose 100% during President George W. Bush's term in office. Bush praised them for keeping patients out of hopsital emergency rooms. The current House has cut its funding by over a third.
The EITC opposition by current Republicans may be most noticeable thing they have fought. In the 1980's, President Ronald Reagan described the EITC as the "best job-creation measure" Congress passed during his term in Office. Both Presidents George H.W. Bush and George W. Bush strengthened this measure. But now, Republicans like John Cornyn and Michele Bachmann think of it as either a form of welfare or income redistribution.
All of these shifts in the Republcians' attitude towards social spending occurred once Barack Obama assumed the Office of President of the United States. That is the most important point to remember on these issues.
http://www.alternet.org/economy/153014/compassionate_conservatism_4_popular_safety-net_programs_tea_party_republicans_have_turned_against_in_the_age_of_obama?page=entire
In 2004, both Houses of Congress easily passed bills to fund school lunch programs. Of all Representatives and Senators, only Ron Paul voted against this program. In December 2010, the vast majority of House Republicans voted against funding this program.
George W. Bush urged increasing food stamp funding to legal immigrants during his Presidency. Now, Congressman Paul Ryan wants to turn food stamps into block grants that will cover less people as time goes by.
Spending on community health centers rose 100% during President George W. Bush's term in office. Bush praised them for keeping patients out of hopsital emergency rooms. The current House has cut its funding by over a third.
The EITC opposition by current Republicans may be most noticeable thing they have fought. In the 1980's, President Ronald Reagan described the EITC as the "best job-creation measure" Congress passed during his term in Office. Both Presidents George H.W. Bush and George W. Bush strengthened this measure. But now, Republicans like John Cornyn and Michele Bachmann think of it as either a form of welfare or income redistribution.
All of these shifts in the Republcians' attitude towards social spending occurred once Barack Obama assumed the Office of President of the United States. That is the most important point to remember on these issues.
http://www.alternet.org/economy/153014/compassionate_conservatism_4_popular_safety-net_programs_tea_party_republicans_have_turned_against_in_the_age_of_obama?page=entire
Wealthy People Live in Their Own Enclaves, While Rest of America's Neighborhoods Deteriorate (for 11/30/11)
Since 1970, the number of people living in income-segregated neighborhoods, either rich or poor, has doubled. Schools in wealthy enclaves are well-kept, with sealed roofs, up-to-date textbooks, and good teachers. Schools in poor neighboorhoods are not so well-kept and are much less likely to have qualified teachers. The quality of libraries, public parks, road repair, garbage pick-up, and virtually any other public service is vastly better in wealthier districts. Therefore, people do not know as much about people of different backgrounds and develop stereotypes of each other.
http://www.alternet.org/economy/153213/class_segregation%3A_rich_hunker_down_in_wealthy_enclaves_--
http://www.alternet.org/economy/153213/class_segregation%3A_rich_hunker_down_in_wealthy_enclaves_--
Detroit Police Officers & Firefighters Face 10% Wage Cuts Suggested by Mayor (for 11/29/11)
Detroit Mayor David Bing sought to cut his City's police officers and firefighters' pay by 10%. He did this to avoid layoffs. This shows the pressures that the ongoing economic crisis has placed on state and city governments.
http://www.huffingtonpost.com/2011/11/17/police-and-firefighters-t_n_1099900.html?ref=budget-cuts
http://www.huffingtonpost.com/2011/11/17/police-and-firefighters-t_n_1099900.html?ref=budget-cuts
Subscribe to:
Posts (Atom)