The Gang of Six are serving their corporate masters, who don’t, by the way, create jobs

I’m tired, and the sweat is running off of me in tiny rivers. The house we live in, built over 150 years ago, does not have air conditioning. It’s never bothered me before, but, tonight, as I lay here in bed, with a red-hot laptop balanced across my mountainous belly, and my sweat pooling in my folds, I’m reconsidering my idealistic stance against AC. But that’s not what I wanted to talk about tonight. Tonight, I wanted to talk about the debt ceiling debate, and the real intentions of the corporate handmaids we call our leaders. As I’m not sure how long I’ll make it before passing out from heat stroke, here’s the most important thing that I wanted to pass along. It’s footage of Bernie Sanders on the floor of the U.S. Senate yesterday, railing sarcastically against the debt ceiling ‘compromise’ being trumpeted the so-called Gang of Six.

Here’s part of what the Senator from Vermont had to say… And, remember, he’s saying it sarcastically:

“…Clearly (the Gang of Six) has won this debate, in a very, very significant way. My guess is that they will probably get 80 to 90% of what they want. In this town, that is quite an achievement. They have stood firm in their desire to represent the wealthy, and the powerful, and the multinational corporations. They have threatened… They have been very smart in a number of ways. They have been determined. And, at the end of the day, they will get 80 or 90% of what they want. That is their victory, and I congratulate them on their victory. Unfortunately, their victory will be a disaster for working families in this country, the elderly, the sick, the children, and for low income people…

Can you imagine the change that would happen in Washington if the Tea Party zombies ever actually woke up and listened to a speech given by Bernie Sanders, instead of just reflexively calling him a Socialist?

As for the deal being floated by the Gang of Six, a lot hasn’t been made public at this time, but Bernie’s right when he says there’s reason for concern. For instance, Matt Taibbi is reporting that the compromise will almost assuredly contain another tax holiday for corporations. Here, with more on that, and why it’s a terribly bad idea, is a clip from Taibi’s post:

…For those who don’t know about it, tax repatriation is one of the all-time long cons and also one of the most supremely evil achievements of the Washington lobbying community, which has perhaps told more shameless lies about this one topic than about any other in modern history – which is saying a lot, considering the many absurd things that are said and done by lobbyists in our nation’s capital.

Here’s how it works: the tax laws say that companies can avoid paying taxes as long as they keep their profits overseas. Whenever that money comes back to the U.S., the companies have to pay taxes on it.

Think of it as a gigantic global IRA. Companies that put their profits in the offshore IRA can leave them there indefinitely with no tax consequence. Then, when they cash out, they pay the tax.

Only there’s a catch. In 2004, the corporate lobby got together and major employers like Cisco and Apple and GE begged congress to give them a “one-time” tax holiday, arguing that they would use the savings to create jobs. Congress, shamefully, relented, and a tax holiday was declared. Now companies paid about 5 percent in taxes, instead of 35-40 percent…

So, it looks as though, at least according to Taibbi, that the DC lobbyists have been able to work in another tax give-away for our corporate masters. And, that’s not the worst of it. According to numerous analysts, the Gang of Six plan would also reduce Social Security benefits by as much as $1,300 a year, while further cutting corporate tax rates.

But, we’re told this is necessary, as corporations are “job creators.” We’re told that we can’t possibly raise taxes on them, or their senior executives, because, if we do, they’ll stop creating jobs. It makes sense, right?

The only problem is, the evidence tells us different. Fortune 500 companies, according to all the data, aren’t creating jobs, in spite of pulling in record profits. Regardless of how much the talking heads on TV may tell that they’re “job creators,” they’re not… at least in this country.

….Last Friday’s Bureau of Labor Statistics’ report was brutal: a scant 18,000 jobs were created in June. Many look to big business for answers — especially those corporate leaders who joined President Obama earlier this year for his job summit.

Unfortunately, they are looking the wrong people.

According to the WSJ, Big Business slashed 2.9M domestic jobs in the 2000s while creating 2.4M overseas. In fact, all of the net job growth in the last 35 years did not come from Big Business. Those jobs came from entrepreneurs…

And, not just are the jobs disappearing while corporate profits are rising, but those who are able to hold on to their jobs aren’t seeing their incomes grow. Check this out:

…Over this six-quarter period [from Q2 of 2009 to Q4 of 2010], corporate profits captured 88% of the growth in real national income while aggregate wages and salaries accounted for only slightly more than 1% of the growth in real national income…

So, are you starting to get the picture? There is incredible wealth being created in our country, but it’s all at the corporate level, and it’s not making it’s way down to the American people, regardless of what we’re being told about these beneficent entities and their ability to “create jobs.” Here’s a little anecdotal evidence – a headline from today’s news:

“Goldmann Sachs will lay off 1,000 people, even though it made $1 billion in profits in the last 3 months”

Here’s an American company that benefited directly from the recent taxpayer bailout, and, just a year later, they’re firing American workers, in spite of making record profits. Sounds unconscionable, doesn’t it?

But it shouldn’t surprise anyone. Corporations are, after all, psychopathic by nature.

I want to go on, but I’m afraid that the rest will have to wait until tomorrow…. Good night, my invisible friends….

[note: The photo of the sleepy sloth above has nothing to do with this post. It’s just there because I’ve recently figured out that posts with photos tend to get more comments. Also, I noticed that they were talking about a sleepy sloth video of Good Morning America this morning, so that means it must have done well with focus groups. Speaking of GMA, have you noticed that half of their content is now taken directly from YouTube? It’s pretty amazing how far can you stretch the definition of news… Check this out. I just looked the GMA website, and these are their three top headlines: “Paris Hilton Interview: Greatest Celeb Walkouts,” “Extreme Makeup Hoarders,” and “Which Popular Summertime Snack Can Kill Your Pet.” I know it may not mean shit to anyone but me, but it pisses me off that we continue to allow these networks to use our public airwaves. The deal, as I understand it, was that they could use them in so long as they provided news as a public service. This, I’m pretty sure, wouldn’t qualify.]

Posted in Corporate Crime, Economics, Politics, Rants | Tagged , , , , , , , , , , , , , , , , , , , , , , | 24 Comments

More Shadow Art Fair interviews

For those of you who enjoyed the interviews that I conducted and posted during Saturday’s Shadow Art Fair with folks like Pete Larson, Andy Claydon, Alexandra Dietz, and Patti Smith, I’ve got a few more that I’d like to share.

The following interviews, with Andrew Jason Clock, Stef Chura and a young woman named Amanda, were likewise recorded during last Saturday’s Shadow Art Fair. As you’ll see, we talk about any number of subjects, from local politics, to the job market for recent college graduates. Hopefully, you’ll find them as fascinating as I do.

For those that didn’t have a chance to be interviewed, fear not. If all goes according to plan, I’ll be doing the same thing again next year at the Shadow. In the meantime, I have another video project that I’d like to share with you. I want to start conducting Ypsilanti Exit Interviews – essentially talking with people (for ten minutes or less) about why they’ve chosen to leave Ypsilanti. I doubt I’ll have too many people take me up on the offer, but I think that the exercise could yield a lot insight into the kinds of people we’re losing, and why. If you know of someone who is planning to leave town, for whatever reason, please pass along my contact information and encourage them to set up an interview. My first target, Hollis from the band Manhole, who is said to be leaving soon for Portland, has yet to respond to my email. If you know him, please do me a favor and encourage him to do it. I think he might find it cathartic.

Posted in Shadow Art Fair, Ypsilanti | Tagged , , , , , , , , , , , , , , | 16 Comments

Art Fair Rage Syndrome

Ann Arbor is never a pleasant place to be during Art Fair. I understand that it’s a good thing, as it brings money into the city at a time when local businesses could really use the sales, but, from the point of view of a local, it’s a huge pain in the ass. Traffic is terrible, parking is non-existent, and tempers, as a result, run hotter than two rats fucking in a wool sock*. This is especially true on days like today, when the heat index reaches over 100-degrees. I don’t know if anyone’s argued it yet in court, but I’ve often wondered whether you could be acquitted of a crime perpetrated during this time of the year by arguing Art Fair Rage Syndrome. I’m positive that it would resonate with local jurors. Everyone who lives in the area, after all, has had the experience of being hot, sweaty, and stuck behind a lumbering herd of red-faced fannypackers, desperate to get around them and to a meeting, or, worse yet, to a restaurant with a surprise half-the-food-for-twice-the-price “special” menu. Anyway, I think I might soon have a chance to see if Art Fair Rage Syndrome constitutes a viable defense.

I received the following picture from a friend earlier this afternoon. It was taken in Ann Arbor’s Kerrytown neighborhood. My friend, who watched the whole thing go down, explained it like this… The silver car (pictured), in the process of parallel parking along the curb, lightly tapped the car in front of it, at which point a man got out of said tapped car, grabbed a cinder block from a nearby yard, and proceeded to throw it through the back window of the car that bumped his.

I was going to launch into a long tirade at this point about how scary things are in Ann Arbor these days, but it just occurred to me that maybe this wasn’t crime at all, but art. It’s certainly more compelling, in my opinion, than giant glass flowers or art on sticks. One just hopes this wasn’t his only performance.

[ *I was going to credit the phrase, “hotter than two rats fucking in a wool sock” to my friend, Scott Alma, but apparently the distinction belongs to his grandfather.]

Posted in Ann Arbor, Art and Culture, Uncategorized | Tagged , , , , , , , , , , , | 39 Comments

Borders to liquidate in spite of experienced, well-compensated management

I don’t have much to say about this, but I wanted to put something up here, on the front page, in case people wanted to discuss the fact that Borders, unable to find a buyer, is liquidating.

In real numbers, that means:

• 10,700 people, 450 of whom work in Ann Arbor, will lose their jobs
• 399 stores, 26 of which are in Michigan, will close

Governor Snyder, for what it’s worth, says it has nothing to do with the company being headquartered in Michigan. “Borders has a very important Michigan history,” he said through spokeswoman Geralyn Lasher, “but this has to do with the changing dynamics of the book business as opposed to doing business in Michigan.” Others would argue that inept management also played a role.

Speaking of management, does anyone remember that, as recently as just three months ago, they were trying to secure enormous bonus checks for themselves? Here’s a clip from an article dated April 23, 2011:

A judge on Friday signed off on Borders Group Inc.’s plan to pay executives and other high-level employees more than $6 million in bonuses, after the bookseller worked to satisfy both his concerns and those of the Office of the U.S. Trustee.

Judge Martin Glenn of U.S. Bankruptcy Court in Manhattan said the amended bonus packages, which tie the $6.6 million in payments closer to the financial performance of Borders, were needed so Borders could “maintain its experienced work force.” …

I don’t know that this last round of bonus checks ever got issued, as I believe they were supposed to be contingent upon the sale of the company, but I think it’s telling that management was focused on lining their own pockets as the company went down, instead of fixing what needed fixing. But, as Snyder said, this was just a matter of changing market dynamics – nothing more.

Posted in Corporate Crime, Local Business | Tagged , , , , , , | 16 Comments

Elizabeth Warren for U.S. Senate

As I mentioned a few days ago, Obama, giving in once again to Republican pressure, has decided with withdraw his support of Harvard professor Elizabeth Warren to be head of the newly formed Consumer Financial Protection Bureau. The good news is, that may not be the last we see of her, though. There is currently a movement afoot to draft the principled corporate watchdog to run for the Senate against Wall Street favorite Scott Brown, who succeeded Ted Kennedy in a surprise 2010 upset. As Steve Benen points out in his Washington Monthly column today, Republicans may soon come to “regret the decision to block her CFPB prospects.” And, the good news is, Warren seems to be considering it.

Some, like Salon’s Steve Kornacki, however, don’t believe she has much of a chance against Scott Brown. Here’s a clip from his opinion piece:

…Democrats like to tell themselves that Brown is beatable simply because Massachusetts has such pronounced Democratic tendencies. Before Brown’s victory last year, no Republican had won a Senate election in the state since 1972, and it’s been 17 years (and counting) since a GOP candidate won a U.S. House race. With the presidential race at the top of the ticket, turnout should be much higher next fall than it was in the January ’10 special election, with the vast majority of those new voters likely supporting Barack Obama. The Democrats’ theory is that this Obama support will trickle down to their Senate candidate, erasing the 5-point margin that Brown won by in ’10 and returning the seat to Democratic hands.

But if it were this easy, why is the party having such trouble attracting a candidate? Gov. Deval Patrick has ruled out running and no one from the all-Democratic congressional delegation is interested. Neither is Marty Meehan, the still-ambitious former congressman who is sitting on a $5 million war chest. Their reluctance speaks to a reality that Democrats don’t like to admit: In his 18 months on the job, Brown has skillfully separated himself from his party’s national brand and emerged as the most popular politician in Massachusetts. It may be true that his simple presence in the Senate serves to empower conservative Republicans who themselves would be intensely unpopular in Massachusetts and that Brown is mostly a reliable Republican vote. But that’s not what most swing voters in Massachusetts apparently see. They like Brown personally, enjoy his style and — thanks to several high-profile and well-timed breaks with the GOP leadership — consider him an independent voice, not a Republican drone…

But, I’d prefer to stay optimistic, and focus on the prospect of Warren in the Senate, fighting against Wall Street on behalf of the rest of us. And, who knows, perhaps we could see her ready for Presidential run by 2016. Here, with more on that, is a clip from an article in The Nation by John Nichols:

…Four years in the Senate could well make Elizabeth Warren a serious contender for the 2016 Democratic presidential nomination—and rightly so. As a senator, she would serve in the independent progressive Wellstone-Feingold style. And that’s almost certainly what Democrats—and Americans—will be looking for after the eight years of Obama or four years of Rombachperrycain.

But even if Warren never goes presidential, she (and those who have been enthusiastic about her potential as a national leader) should consider the Senate. Her election to the chamber would be in the tradition of former Alaska Senator Ernest Gruening, former Oregon Senator Wayne Morse and former New York Senator Daniel Patrick Moynihan, scholars and presidential appointees whose presence elevated the stature of the Senate and the general quality of the debate in Washington.

It would also be in the tradition of Wellstone, who recognized long ago that Elizabeth Warren would make a exceptional senator…

Wellstone, as Nichols points out, used to joke that he could use 10 more Progressives in the Senate, “or one Elizabeth Warren.”

Here’s hoping she gives it a shot.

[Thanks to Oliva for sharing a good number of these links.]

Posted in Economics, Politics, Uncategorized | Tagged , , , , , , | 12 Comments

Connect

BUY LOCAL... or shop at Amazon through this link Banner Initiative Dave Miller 2