. . . herwith a tweet from Robert Reich, well known Clinton-era Commie (h/t UTMB, here); I will now add him to my Twitter feed.
Posted in 2012 Elections, economy, Government, History, labor, Politics, Romney, taxes
Tagged economy, elections, joblessness, labor, Politics, Robert Reich, Romney, stimulus, unemployment
POSTED BY ORHAN
Former U.S. Labor Secretary Robert Reich analyzes data from the US Bureau of Labor Statistics on Texas job growth:
While Texas leads the nation in job growth, a majority of Texas’s workforce is paid hourly wages rather than salaries. And the median hourly wage there was $11.20, compared to the national median of $12.50 an hour.
Texas has also been specializing in minimum-wage jobs. From 2007 to 2010, the number of minimum wage workers there rose from 221,000 to 550,000 – that’s an increase of nearly 150 percent. And 9.5 percent of Texas workers earn the minimum wage or below – compared to about 6 percent for the rest of the nation, according to the Bureau of Labor Statistics. The state also has the highest percentage of workers without health insurance.
…how can lower incomes possibly be an answer to America’s economic problem? Lower incomes mean less overall demand for goods and services — which translates into even fewer jobs and even lower wages.
Posted in 2012 Elections, broken government, Current Events, From Orhan's Perch, Government, Politics, Rick Perry, the nation
Tagged Bureau of Labor Statistics, Employment, Minimum wage, Rick Perry, Robert Reich, Texas, United States, Wage
POSTED BY ORHAN
In a recent post, Robert Reich catalogs and rebuts the biggest whoppers spun by the Republicans regarding job creation:
“Cutting taxes on the rich creates jobs.” Nope. Trickle-down economics has been tried for thirty years and hasn’t worked. After George W. Bush cut taxes on the rich, far fewer jobs were created than after Bill Clinton raised them in the 1990s.
“Cutting corporate income taxes creates jobs.” Baloney. American corporations don’t need tax cuts. They’re sitting on over $1.5 trillion of cash right now. They won’t invest it in additional capacity or jobs because they don’t see enough customers out there with enough money in their pockets to buy what the additional capacity would produce. Florida Governor Rick Scott, for example, says his proposed corporate tax cuts “will give Florida a competitive edge in attracting jobs.” They’ll also require education spending be reduced by $3 billion. Florida already ranks near the bottom in per-pupil spending and has one of nation’s lowest graduation rates. If Scott’s tax cuts create jobs, most will pay peanuts.
“Cuts in wages and benefits create jobs.” Congressional Republicans and their state counterparts repeat this lie incessantly. It also lies behind corporate America’s incessant demand for wage and benefit concessions – and corporate and state battles against unions. But it’s dead wrong. Meager wages and benefits are reducing the spending power of tens of millions of American workers, which is prolonging the jobs recession.
“Regulations kill jobs.” Congressional Republicans are using this whopper to justify their attempts to defund regulatory agencies. Regulations whose costs to business exceed their benefits to the public are unwarranted, of course, but reasonable regulation is necessary to avoid everything from nuclear meltdowns to oil spills to mine disasters to food contamination – all of which we’ve sadly witnessed.
“Cutting the federal deficit will create jobs.” It’s not true. Cutting the deficit will create fewer jobs. Less government spending reduces overall demand. This is particularly worrisome when, as now, consumers and businesses are still holding back. Fewer government workers will have paychecks to buy stuff from other Americans, some of whom in turn will lose their jobs without enough customers.
Reich calls on the President to refute these claims loud and long, before they become conventional wisdom. He can’t understand Obama’s silence in the face of the Republican onslaught.
Posted in Congress critters, corporate power, economy, elections, Florida, From Orhan's Perch, labor, Plutocrats, Politics
Tagged Barack Obama, corporate income taxes, deficits, Florida, Government spending, jobs, regulation, Republicans, Rick Scott, Robert Reich, Trickle-down economics
POSTED BY ORHAN
Japan and Libya are in the forefront, but here’s a piece from Robert Reich describing how Justice Clarence Thomas recently opined in a speech at the Federalist Society that the criticism he’s been receiving is politicizing the Supreme Court and undermining its credibility. Reich argues that Thomas is as political as anyone on the court:
Thomas has also failed to disclose financial information about his wife’s employment. Virginia Thomas is the founder of Liberty Central, a Tea Party organization now receiving unlimited corporate contributions due to Citizen’s United. Among the things she’s lobbying for are the repeal of what she terms the “unconstitutional” healthcare legislation.
Because of his wife’s direct involvement, seventy-four House Democrats have sent a letter to Justice Thomas asking him to recuse himself from any case questioning the constitutionality of the legislation. “Your spouse is advertising herself as a lobbyist who has ‘experience and connections’ and appeals to clients who want a particular decision”, the legislators wrote. “They want to overturn health-care reform.”
Virginia Thomas’s benefiting from her husband’s ruling is a conflict of interest. And decisions like Citizens United did a lot more to undermine the credibility of the Court than any criticism of Clarence Thomas’s conduct on the bench.