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Showing posts with label economic stagnation. Show all posts
Showing posts with label economic stagnation. Show all posts
+Senator Elizabeth WarrenD MA is angry, you can hear and read it the words of her speech to the +AFL -CIO on 10NOV16. drumpf/trump-pence, republicans, tea-baggers and right wing theocratic plutocrats and DINOS, you have been warned. And the rest of us have our marching orders. The BOLD PROGRESSIVES of the PCCC / Progressive Change Campaign Committee and Our Revolution offer opportunities to be to be informed and involved. If you are committed to defending our democracy, protecting our Republic then check them out, sign up and get involved. From the PCCC, transcripts from the +The Boston Globe .....
We’re now two days removed from an incredibly close and hard-fought election, and many people here in Washington and around the country are trying to make sense of what happened.
This wasn’t a pretty election. In fact, it was ugly, and we should not sugarcoat the reason why. Donald Trump ran a campaign that started with racial attacks and then rode the escalator down. He encouraged a toxic stew of hatred and fear. He attacked millions of Americans. And he regularly made statements that undermined core values of our democracy.
And he won. He won - and now Latino and Muslim-American children are worried about what will happen to their families. LGBT couples are worried that their marriages could be dissolved by a Trump-Pence Supreme Court. Women are worried that their access to desperately needed health services will disappear. Millions of people in this country are worried, deeply worried. And they are right to be worried.
Today, as President-Elect, Donald Trump has an opportunity to chart a different course: to govern for all Americans and to respect our institutions. In his victory speech, he pledged that he would be “President for all” of the American people. And when he takes the oath of office as the leader of our democracy and the leader of all Americans, I sincerely hope that he will fulfill that pledge with respect and concern for every single human being in this country, no matter who they are, no matter where they come from, no matter what they believe, no matter whom they love.
And that marks Democrats’ first job in this new era: We will stand up to bigotry. There is no compromise here. In all its forms, we will fight back against attacks on Latinos, African Americans, women, Muslims, immigrants, disabled Americans-on anyone. Whether Donald Trump sits in a glass tower or sits in the White House, we will not give an inch on this, not now, not ever.
But there are many millions of people who did not vote for Donald Trump because of the bigotry and hate that fueled his campaign rallies. They voted for him despite the hate. They voted for him out of frustration and anger-and also out of hope that he would bring change.
If we have learned nothing else from the past two years of electioneering, we should hear the message loud and clear that the American people want Washington to change. It was clear in the Democratic Primaries. It was clear in the Republican Primaries. It was clear in the campaign and it was clear on Election Day. The final results may have divided us - but the entire electorate embraced deep, fundamental reform of our economic system and our political system.
Working families across this country are deeply frustrated about an economy and a government that doesn’t work for them. Exit polling on Tuesday found that 72 percent of voters believe that, quote, “the American economy is rigged to advantage the rich and powerful.” 72 percent of ALL voters-Democrats and Republicans.1 The polls were also made clear that the economy was the top issue on voters’ minds. Americans are angry about a federal government that works for the rich and powerful and that leaves everyone else in the dirt.
Lobbyists and Washington insiders have spent years trying to convince themselves and each other that Americans don’t actually believe this. Now that the returns are in and the people have spoken, they’re already trying to wave their hands and dismiss these views as some sort of mass delusion. They are wrong-very wrong.
The truth is that people are right to be angry. Angry that wages have been stagnant for a generation, while basic costs like housing, health care, and child care have skyrocketed. Angry that our political system is awash in barely legalized campaign bribery. Angry that Washington eagerly protects tax breaks for billionaires while it refuses to raise the minimum wage, or help the millions of Americans struggling with student loans, or enforce the law when the millionaire CEOs who fund our political campaigns break it. Angry that Washington pushes big corporate interests in trade deals, but won’t make the investments in infrastructure to create good jobs right here in America. Angry that Washington tilts the playing field for giant corporations - giving them special privileges, letting them amass enormous economic and political power.
Angry that while Washington dithers and spins and does the backstroke in an ocean of money, while the American Dream moves further and further out of reach for too many families. Angry that working people are in debt. Angry that seniors can’t stretch a Social Security check to cover the basics.
President-Elect Trump spoke to these issues. Republican elites hated him for it. But he didn’t care. He criticized Wall Street and big money’s dominance in Washington-straight up. He supported a new Glass-Steagall. He spoke of the need to reform our trade deals so they aren’t raw deals for the American people. He said he will not cut Social Security benefits. He talked about the need to address the rising cost of college and about helping working parents struggling with the high cost of child care. He spoke of the urgency of rebuilding our crumbling infrastructure and putting people back to work. He spoke to the very real sense of millions of Americans that their government and their economy has abandoned them. And he promised to rebuild our economy for working people.
The deep worry that people feel over an America that does not work for them is not liberal or conservative worry. It is not Democratic or Republican worry. It is the deep worry that led even Americans with very deep reservations about Donald Trump’s temperament and fitness to vote for him anyway.
So let me be 100% clear about this. When President-Elect Trump wants to take on these issues, when his goal is to increase the economic security of middle class families, then count me in. I will put aside our differences and I will work with him to accomplish that goal. I offer to work as hard as I can and to pull as many people as I can into this effort. If Trump is ready to go on rebuilding economic security for millions of Americans, so am I and so are a lot of other people-Democrats and Republicans.
But let’s also be clear about what rebuilding our economy does not mean.
It does not mean handing the keys to our economy over to Wall Street so they can run it for themselves. Americans want to hold the big banks accountable.2 That will not happen if we gut Dodd-Frank and fire the cops responsible for watching over those banks, like the Consumer Financial Protection Bureau. If Trump and the Republican Party try to turn loose the big banks and financial institutions so they can once again gamble with our economy and bring it all crashing down, then we will fight them every step of the way.
It does not mean crippling our economy and ripping working families apart by rounding up and deporting millions of our coworkers, our friends and neighbors, our mothers and fathers, our sons and daughters. And if Republicans choose that path, we will fight them every single step of the way.
Americans want reform to Obamacare -Democrats included. We must bring down the costs of health insurance and the cost of health care. But if the Republicans want to strip away health insurance from 20 million Americans, if they want to let cancer survivors get kicked to the curb, if they want to throw 24-year-olds off their parents’ health insurance, then we will fight them every step of the way.
Americans want to close tax loopholes that benefit the very rich,3 and Donald Trump claimed to support closing the carried interest loophole and other loopholes. We need a fairer tax system, but if Republicans want to force through massive tax breaks that blow a hole in our deficit and tilt the playing field even further toward the wealthy and big corporations, then we will fight them every step of the way.
The American people - Democrats, Republicans, and Independents - have been clear about what economic policies they want Washington to pursue. Two-thirds of people support raising the federal minimum wage.4 Three-quarters of Americans want the federal government to increase its infrastructure investments.5 Over 70 percent of people believe students should have a chance at a debt-free education.6 Nearly three-quarters support expanding Social Security.7 These are the kinds of policies that will help level the playing field for working families and address the frustrations felt by millions of people across the country.
The American people sent one more message as well. Economic reform requires political reform. Why has the federal government worked so long only for those at the top? The answer is money-and they want this system changed. The American people are sick of politicians wallowing in the campaign contributions and dark money. They are revolted by influence peddling by wealthy people and giant corporations. When Bernie Sanders proved his independence by running a campaign based on small dollar contributions and when Donald Trump promised to spend his own money, both were sending an important message that they could not be bought. And once again, if Donald Trump is ready to make good on his promise to get corruption out of politics, to end dark money and pay-to-play, count me in. I will work as hard as I can and to pull as many people as I can to end the influence of big money and return democracy to the people.
Donald Trump won the Presidency under a Republican flag. But Mitch McConnell, Paul Ryan and the Republicans in Congress - and their way of doing business - were rejected-rejected by their own primary voters, rejected during the campaign, and rejected in Tuesday’s election. Regardless of political party, working families are disgusted by a Washington that works for the rich and powerful and leaves everyone else behind.
The American people have called out loudly for economic and political reform. For years, too many Republicans and too many Democrats have refused to hear their demands.
The majority of Americans voted against Donald Trump. Democrats picked up seats in both the House and the Senate. And yet, here we are. Republicans are in control of both houses of Congress and the White House. And that makes our job clear. As the loyal opposition we will fight harder, we will fight longer and we will fight more passionately than ever for the rights of every human being in this country to be treated with respect and dignity. We will fight for economic opportunity, not just for some of our children, but for all of our children. We do not control the tools of government, but make no mistake, we know what we stand for, the sun will keep rising, and we will keep fighting - each day, every day, we will fight for the people of this country.
The time for ignoring the American people is over. It’s time for us to come together to work on America’s agenda. Democracy demands that we do so, and we are ready.
Senator Elizabeth Warren of Massachusetts on Thursday pledged to work with President-elect Donald Trump to build an economy that works for everyone while vowing to fight him if the vitriol of his candidacy takes root in his presidency.
“There are many millions of people who voted for Donald Trump not because of the bigotry and hate that fueled his campaign rallies,” Warren said in her first major address since the New York businessman was elected president of the United States. “They voted for him out of frustration and anger and out of hope that he would make real change in this country.”
She spoke before the AFL-CIO Executive Council in an address that was broadcast via Facebook live and watched by more than 16,000 people.
“I believe the outcome of this election is an indictment on politics as usual,” Richard Trumka, president of the AFL-CIO, said while introducing Warren. “The type of indictment that Senator Warren has spent her career fighting against.”
Warren, a progressive Democrat, and Trump, a Republican, have both argued that Wall Street has harmed the working class. And while they agree on the problem, their worldviews could not be further apart.
Thursday’s speech was an attempt to chart a path forward for dispirited liberals after Trump’s stunning victory on Tuesday. Warren also tried to explain and validate aspects of Trump’s appeal to workers who have been hammered by Wall Street.
She vowed to put aside their differences if Trump makes good on his promises to increase government spending on infrastructure to create jobs, oppose trade deals, and increase Social Security benefits.
“When President-elect Trump wants to take on these issues, when his goal is to increase the economic security of middle-class families, then count me in,” Warren said. “I will work as hard as I can and pull as many people as I can into this effort.”
But Warren was clear: There would be no compromise if President-elect Trump insults women, minorities, or immigrants the way candidate Trump did.
“Whether Donald Trump sits in a glass tower or sits in the White House, we will not give an inch on this, not now, not ever,” she said pounding the podium for emphasis. “We will stand up to bigotry.”
The election wasn’t pretty, she said, calling the campaign a “toxic stew of hatred and fear.”
“Millions of people are worried, and they are right to be worried,” she said.
Trump’s candidacy started with a speech in which he disparaged Mexican immigrants as “rapists.” He proposed a temporary ban on allowing Muslims into the country. He mocked a disabled journalists and was accused of sexually assaulting women.
Warren became one of Trump’s biggest foes, engaging with him in a fierce war of words that often played out in 140-character exchanges on Twitter. He called her “Pocahontas” in reference to the controversy about her Native American heritage that emerged during the race for her Senate seat. She called Trump a “bully.”
But their common ground appears to be making the country a better for those angry that government seems to work only for the rich and powerful.
And while Trump might have won the White House, Warren noted that he lost the popular vote.
“The time for ignoring the American people is over,” Warren said. “It is time for us to come together to work on America’s agenda.”
“Are we ready to be in this fight?” she asked to rousing applause. “You bet!”
Michael Levenson of Globe staff contributed to this report. Akilah Johnson can be reached at akilah.johnson@globe.com. Follow her on Twitter @akjohnson1922.
HERE'S an interesting map of the largest (financially) companies in each state followed by a map and stats of each state's median household income and per capita income. Check out your state, and it is up to you to decide if that company's dominant presence in your state is something to be proud of or not. From the +Washington Post & +Wikipedia .....
(Note: The largest corporations in Alaska, Iowa Kansas have been
updated in the map and data to reflect corrections made by Broadview
Networks and newly updated Hoover’s data.)
A state economy is nothing without the businesses that call it home.
But those businesses are not created equally—bigger businesses naturally
have outsized influence, generating more revenue, paying more taxes and
employing more people.
The map above (larger version) identifies the
largest company by revenue in every state, according to a review of
data maintained by business research firm Hoover’s conducted by
information technology company Broadview Networks,
which provides cloud services. The businesses span quite the range:
They rake in anywhere from $1 billion to $476 billion and represent
various sectors, including energy, banking and retail. Broadview ignored
branches or foreign offices in the review and, for consistency,
excluded subsidiaries or government entities.
Databases differ on which business is the largest in each state,
however. We reviewed the Fortune 1000, as well as a mixture of
sources listed on research source Lexis Nexis, and confirmed many, but
not all, of the companies on Broadview’s list. This may be explained by
differing methodology used by the various sources in identifying a
company’s headquarters or revenue. As such, we’re duplicating
Broadview’s list below largely as is for consistency. Despite
disagreements over methodology, the data offer insight into powerhouse
businesses in each state.
Here’s the data from Broadview Networks, culled from Hoover’s:
State
City
Top company by revenue
Revenue (billions)
Alabama
Birmingham
Regions Bank
$5.89
Alaska*
Juneau
First National Bank Alaska
$2.4
Arizona
Phoenix
Avnet, Inc.
$25.45
Arkansas
Bentonville
Wal-Mart Stores
$476.29
California
San Ramon
Chevron Corporation
$228.84
Colorado
Englewood
Arrow Electronics, Inc.
$21.35
Connecticut
Fairfield
General Electric
$146.04
Delaware
Wilmington
E.I. du Pont de Nemours and Company
$36.14
Florida
Doral
World Fuel Services Corporation
$41.56
Georgia
Atlanta
Home Depot International, Inc.
$85.53
Hawaii
Honolulu
Hawaiian Electric Industries, Inc.
$3.23
Idaho
Boise
Micron Technology, Inc.
$9.07
Illinois
Decatur
Archer Daniels Midland
$89.80
Indiana
Indianapolis
WellPoint
$71.02
Iowa
Cedar Rapids
Transamerica Life Insurance Company
$19.64
Kansas
Wichita
Koch Industries, Inc.
$115
Kentucky
Louisville
Humana, Inc.
$41.31
Louisiana
Monroe
CenturyLink, Inc.
$18.09
Maine
Scarborough
Hannaford Bros. Co.
$3.98
Maryland
Bethesda
Lockheed Martin Corporation
$45.35
Massachusetts
Boston
Liberty Mutual Holding Company, Inc.
$38.50
Michigan
Detroit
General Motors
$155.42
Minnesota
Wayzata
Cargill, Inc.
$136.65
Mississippi
Laurel
Sanderson Farms, Inc.
$2.68
Missouri
St. Louis
Express Scripts Holding
$104.09
Montana
Billings
Stillwater Mining Company
$1.03
Nebraska
Omaha
Berkshire Hathaway
$182.15
Nevada
Las Vegas
Las Vegas Sands Corp.
$13.76
New Hampshire
Portsmouth
Sprague Resources LP
$4.60
New Jersey
New Brunswick
Johnson & Johnson
$71.31
New Mexico
Albuquerque
Presbyterian Healthcare Services
$2.05
New York
New York
Verizon Communications
$120.55
North Carolina
Charlotte
Bank of America
$101.69
North Dakota
Bismarck
MDU Resources Group, Inc.
$4.46
Ohio
Dublin
Cardinal Health
$101.09
Oklahoma
Oklahoma City
Love’s Travel Stops & Country Stores, Inc.
$26.09
Oregon
Beaverton
Nike, Inc.
$25.31
Pennsylvania
Chesterbrook
AmeriSourceBergen
$87.95
Rhode Island
Woonsocket
CVS Caremark
$126.76
South Carolina
Hartsville
Sonoco Products Company
$4.48
South Dakota
Sioux Falls
Sanford Health
$3.10
Tennessee
Memphis
FedEx Corporation
$44.28
Texas
Irving
Exxon Mobil
$438.25
Utah
Salt Lake City
Huntsman Corporation
$11.07
Vermont
Waterbury
Keurig Green Mountain, Inc.
$4.35
Virginia
McLean
Freddie Mac
$81.22
Washington
Issaquah
CostCo Wholesale
$105.15
West Virginia
Morgantown
West Virginia University Hospitals, Inc.
$42.73
Wisconsin
Milwaukee
Johnson Controls, Inc.
$42.73
Wyoming
Gillette
Cloud Peak Energy, Inc.
$1.39
(Source: Hoover’s, via Broadview Networks) * Note: Broadview’s original list included a government-owned
entity as Alaska’s largest company. First National Bank Alaska is the
state’s largest corporation, according to a review of a compendium of
business data on Lexis Nexis.
THE rich are getting richer and the rest of us wallow in the economic stagnation they have legislated through the republican, tea-bagger and third way democratic politicians they control with their campaign contributions and promises of jobs once their minions leave office. Our slide to a Third World plutocracy continues. This was first published in JUL/AUG 2011, the situation remains the samday, unfortunately. The only way to change our economic situation is to elect Bold Progressives to local, state and national offices.....
Why "efficiency" and "productivity" really mean more profits for corporations and less sanity for you.
Illustration: Mark Matcho; Chart Artwork: Jeff Berlin
Want more rage? We've got 11 charts that show how the superrich spoil it for the rest of us.
In the past 20 years, the US economy has grown nearly 60 percent.
This huge increase in productivity is partly due to automation, the
internet, and other improvements in efficiency. But it's also the result
of Americans working harder—often without a big boost to their bottom
lines. Oh, and meanwhile, corporate profits are up 20 percent. (Also read our essay on the great speedup and harrowing first-person tales of overwork.)
You have nothing to lose but your gains
Productivity has surged, but income and wages have
stagnated for most Americans. If the median household income had kept
pace with the economy since 1970, it would now be nearly $92,000, not
$50,000.
Growth is back...
...But jobs aren't
Sorry, not hiring
The sectors that have contributed the most to the country's overall economic growth have lagged when it comes to creating jobs.
The wage freeze
Increase in real value of the minimum wage since 1990: 21%
Increase in cost of living since 1990: 67%
One year's earnings at the minimum wage: $15,080
Income required for a single worker to have real economic security: $30,000
Working 9 to 7
For Americans as a whole, the length of a typical
workweek hasn't changed much in years. But for many middle-class
workers, job obligations are creeping into free time and family time.
For low-income workers, hours have declined due to a shrinking job
market, causing underemployment.
Labor pains
Median yearly earnings of:
Union workers: $47,684
Non-union workers: $37,284
Dude, Where's My Job?
More and more, US multinationals are laying off workers at home and hiring overseas.
Proud to be an American
The US is part of a very small club of nations that don't require...
Digital overtime
A survey of employed email users finds:
22% are expected to respond to work email when they're not at work. 50% check work email on the weekends. 46% check work email on sick days. 34% check work email while on vacation.
The second shift
Working moms pick up more child care and household
duties than working dads—about 80 minutes more every day. Meanwhile,
dads enjoy nearly 50 more minutes of watching TV and other leisure
activities on a daily basis.
Chore wars
Thanks, guys—you're pitching in more than twice as much
as you did in the '70s. But women still get stuck with the majority of
work around the house.
Dave Gilson is a senior editor at
Mother Jones. Read more of his stories, follow him on Twitter, or contact him at dgilson (at) motherjones (dot) com. RSS | Twitter
