Featured Quote

In 1913, Henry Ford wrote the following as the directors had been reaping the rewards of profits - "The wages we pay are too small in comparison with our profits. I think we should raise our minimum pay rate".

Thursday, June 9, 2011

Millionaires Reject Tax Cuts



Patriotic Millionaires
(website)
See below for commentary.





NPR Story

Full transcript

First, let me point out just how rich this Dennis Mehiel, Chariman of U.S. Corrugated, is. The Bush tax cuts saved me, making just below median income, around $800. Mr. Mehiel says :
[the Bush tax cuts] saves me, whatever, you know, two or $300,000 a year

He also says, and I summarize here : "It's a spurious argument that maintaining historically low marginal rates on very high earners will lead to having less jobs. It just wrong, and history disproves it."

Absolutely correct. Any legitimate look back at the history of our economic policy shows "Trickle Down" is a sham.

I'll requote Andy Shallal, owner of three restaurants in D.C., on his answer about repealing the Bush Tax Cuts for millionaires :
Well, I mean, the fact of the matter is that most of the small businesses that we're talking about would not be affected by this proposed sort of pull back in the Bush-era tax cut. But the other part is that for me, as a Subchapter S business, I have an incentive to spend more money before the end of the year, so I don't claim it as income. So, for me, I spend it on infrastructure. I spend it on equipment. I spend it on refurbishing the places, and so on.

So that is an incentive. I could never understand the other argument of, you know, if you're going to have more money, it's going to be taxed. Well, spend it.

Straight from a Business Man's Mouth - higher taxes equal MORE reinvestment in business, I'd say higher wages for employees as well. Lower income taxes only mean higher profits, nothing more. Lower income taxes are an incentive to not reinvest profits into the business, to not pay employees well.

Andy Shallal also states :
I want to see more customers out there with money to come spend in my business. I don't want to see that as we're talking about, the possibility of having the haves and have-nots and having this big disparity in our classes here in this country.

Meaning Hooray! for my version of Ethical Capitalism - paying employees well in comparison with the Executives. That way, more people have good money to spend, create demand and drive the economy.

For those in Mississippi :
Check out my Video

Monday, June 6, 2011

Roger Wicker is a Liar

Bold charge, huh?  Now, admittedly, I am a lover of specific language, so I tend to nitpick with words to get the exact message across.  I think, even with allowances for grammar and word use, the term "lies" does apply to Roger Wicker's recent newsletter.

Here is proof, in his own words. (or at least his newsletter, with lies underlined)



The Next Step in Repealing Obamacare

All-Powerful Board Would Make Health Decisions with No Right of Appeal
As details continue to emerge about last year’s Obamacare legislation, more and more Americans are coming to understand the troubling provisions of this ill-advised law. One of the most blatant examples is the creation of the Independent Payment Advisory Board (IPAB), a 15-member presidentially-appointed board charged specifically with cutting Medicare. This provision in the so-called Patient and Protection Affordability Act would ultimately limit access to health care for our seniors.
Why this is a lie :  The IPAB is charged with making suggestions, which congress can overrule, to control the rising costs of medicare.  There will be no "Health Decisions" as that is between a patient and their doctor.  It will be decisions on better care and lower costs - probably designed to get best results first to reduce return visits for the same ailment. The membership is subject to the same Senate Confirmation as any presidential appointee. "IPAB is specifically prohibited by law from recommending any policies that ration care, raise taxes, increase premiums or cost-sharing, restrict benefits or modify who is eligible for Medicare."  So, five or six lies in the first paragraph.
IPAB is a classic illustration of how some in Washington would rather give more power to a board of unelected and unaccountable bureaucrats than to empower the American people themselves. Allowing this board to make substantial changes to Medicare, without being answerable to seniors and their elected officials, is reckless.
Again, Congress can override, so they are answerable.
‘One-Size-Fits-All’ Decision-Making Limits Access to Care 
 Under the health care law, IPAB is required to develop proposals targeted at reducing Medicare spending.  This is the board’s only responsibility, and the only cuts the board is able to make are to providers’ reimbursements. Imposing harsh price controls and more provider limitations will only punish the patient.  Bureaucrats should not decide what treatment is best for our seniors.
The paragraph is mostly just unsubstantiated conjecture.  That last line in something I can agree with, however, that is what happens now.  Insurance Companies do, currently, have a board that will say what they will and will not pay for.  It doesn't matter if the doctor says the treatment is the only solution - if the board says no, then its either out of pocket or die.  The IPAB may make suggestions based on data that shows one treatment much more effective and less costly in the long run, but that would just be the smart thing to do.
Before the passage of the health care law, seventy-four health advocacy organizations wrote to Majority Leader Harry Reid and then-Speaker Nancy Pelosi stating, “Together, we agree that IPAB is an ill-advised provision for the future of Medicare.  We favor responsible containment of rising health care costs, but we urge you to strongly oppose the inclusion of the Independent Payment Advisory Board in final health care reform legislation.”  The Democrat leadership refused to listen.
Yeah, they lobbied to not have an independent organization that would scrutinize their costs and effectiveness.  They want someone they can "lobby" in control of information that is delivered to the public.  Remember, these are For Profit companies that are seeing a Cost Control board set up that may just figure out that most of the cost is coming from the CEO's golden parachute instead of actual operating expenses.
IPAB will not make recommendations; it will make law.  To further complicate matters, the board’s decisions will not be subject to challenge in the court system. In effect, the board’s recommendations will be final and the American people will essentially have no way to object.
Health Care Bureaucrats Elimination Act
 "IPAB would recommend policies to Congress to help Medicare provide better care at lower costs.  This could include ideas on coordinating care, getting rid of waste in the system, incentivizing best practices, and prioritizing primary care."  Again, outright, fact-ignoring lies. Easily to fact-check.  Wicker and his cronies are counting on people NOT PAYING ATTENTION.
President Obama has made it clear that that he has no intention of eliminating IPAB. Opposition to this board is bi-partisan.  During debate on Obamacare, seventy-two House Democrats joined their Republican colleagues in sending a letter to then-Speaker Nancy Pelosi opposing IPAB, and last September, fourteen House Democrats voted to repeal the board.
Senator John Cornyn (R-TX) introduced the Health Care Bureaucrats Elimination Act.  I am a cosponsor of this important legislation, which would repeal IPAB and ensure Washington bureaucrats do not come between patients and their doctors.  Seniors deserve more health care options, not limits to needed medical care.
But they (the GOP) want to tirelessly work to ENSURE that Private Insurance Company bureaucrats can - and do - come between patients and their doctors.
Working to Repeal and Replace the Health Care Law
Until we are able to pass a full repeal of the President’s health care law, the best approach is to continue to repeal the most harmful provisions. A strong bi-partisan group in the Senate was successful earlier this year in repealing the burdensome 1099 tax reporting mandate which would have stifled job creation. The next important step is to eliminate IPAB.  Medicare is an important program for seniors in Mississippi, and I will continue working to put it on sound fiscal footing and repeal and replace the health care law.
The 1099 tax reporting requirement for non-employee contractors was a bit much.  However, replacing Medicare with a voucher program is a horrible idea.  What board of unelected bureaucrats would set the value of the vouchers?  What makes anyone think Seniors with pre-existing conditions would even be able to find a company to accept them?

The newsletter piece sounds reasonable, if you don't think about it.  Wicker is a liar and puts the interests of For Profit, Private Corporations over the interests of average Citizens of Mississippi.

Read This for a non-partisan review of the IPAB at the McDermott Will & Emery Law Firm's website.


Mr. Wicker - how about getting on Job Creation and stop it with the stupid Right Wing Social Engineering crap?!?!

- a letter to Wicker from Walls, MS and an article on Crooks and Liars (like Wicker)
The Republicans are the party of believing we don't need any regulations and that industry can regulate themselves, until something like [The Gulf Oil Spill] happens, and then they expect the government that they didn't want to function to fix everything for us.

Adamant Stupidity

Sarah Palin.

So, she is caught on camera talking about Paul Revere saying that he warned the British and rang bells on his famous ride.  Then, when called out about being so extremely wrong (on Fox no less), she insists that she was right and she knows American History.  Sarah, all the Facts say you are dead wrong - yet, you will not admit it.

Oh, and in that article our state's Governor, Haley Barbour, said that if she went up against Obama for President, he would support her.  More evidence that he is totally against our best interests.

I realize that saying, "I was confused" or something would be embarrassing for Sarah - but not as much as just sticking to your guns even when everyone knows you are wrong.  If she can't bring herself to say that she was wrong about something, that there may be a better way than she had imagined - then there is no way she should be anywhere close to a President.  The inability to admit wrong is something we should keep very far away from our political leaders.

Then there is the question : How do you fight that??  You present absolute proof of someone being wrong and they still deny it.  They still press forward with adamant faith that they are right - despite all facts and evidence to the contrary.  Its okay if it is just one person who will be damaged or disappointed when they fail the ultimate test.  When it is an entire country, they should be prevented from going through with their plans.  Yeah, I know about all those movies where the one guy everyone thinks is a raving lunatic turns out to be right and saves the day.  However, the people trying to stop that guy are all going on "Belief" that he can't possibly be right - despite the evidence.

So, what I am saying is, believe the Evidence.  Believe the Proof and the Facts.

Friday, June 3, 2011

Who is to blame for this mess?

From my saying of "You cannot sway a Republican with mere Facts and Logic" to this blog post :

"Now, back to unnamed Republican lawmaker who thinks his party isn’t to blame. The frightening thing is, he probably believes it. When people hold certain ideological beliefs strongly enough, no amount of facts will get in their way. If you believe that the current deficit is the result of excessive government spending (passed by Democrats, even though they only controlled Congress and the White House for four out of the past thirty years*), no pile of charts will be big enough to convince you otherwise — just like if you believe that tax cuts increase tax revenues, that the deficit has produced high interest rates, or that Barack Obama was born on Mars, no amount of evidence will convince you otherwise."
Ultimately, WE are to blame.  We (in general) voted for the people who fight against our best interests. Thirty years.  I think it is time we stop doing the same thing over and over again while expecting different results.

Also read this article : America Needs Taxes! by the cofounder of USUncut.org

Okay, so I was told that the Democrats controlled congress for 18 years and the Republicans only 12 years in the past 30... so... Real Story - go see wikipedia.  I combined two charts from that article and cut to from 1977 to 2010.

What we see is that from 1994 until 2007 the Republicans pretty much had a lock on congress - except for 2 years when Bush II was first elected, they lost the Senate.  For 4 of those years they had they whole thing - both houses of Congress and the Presidency - the four years just before it got really bad.  So, basically 12 years of Republican policy domination lead up to the great recession of 2009.  The Democrats were elected into control of congress BECAUSE the economy was already so bad.  Obama was elected BECAUSE the economy was so horrible (okay, and Palin in control of anything scared every rational human being on earth).

So, the Democrats can be singing, "We didn't start the fire, but we're trying to fight it...."

Democrats are better than Republicans, but Independents are better still.

Wednesday, June 1, 2011

More People Taking up the Call

NPR has an article written by an economist that says workers should be more important than wall street and corporations.  Of course, he is asking the GOP to stop focusing on building up Wall Street and start to focus on workers and small businesses, which is about as likely to happen as ... as... well, something really unlikely.  I agree that our Government needs to focus on the workers and the small businesses, I just don't imagine the GOP are going to be the ones to do it.  The article also ignores that it was 8 years of GOP policies and practices that got us into the mess we are in now with the economy and unemployment.

A comment on that article I like :

Few things better illustrate how average Americans are being screwed than the current "debate" about the debt ceiling. TeaPublicans are refusing to raise the debt ceiling (and thus endangering the economy) until they get "deep cuts" aimed at screwing working Americans.


Republicans raised the debt ceiling multiple times during the Cheney/Bush administration. They raised it without a whimper. They raised it to fund a war based on lies, tax breaks for billionaires, and loopholes for corporations.


Republicans actually *created* the deficit crisis. They did it through irresponsible fiscal policy that directly supported the Wall Street robber barons that created the Cheney/Bush depression of 2008.


Now the TeaPublicans want to use the deficit that they helped to create as a pretext for destroying Medicare and Social Security (social programs the TeaPublicans hate). All at the same time they continue to vote to extend welfare to the oil companies and tax breaks to billionaires.


It's clear that the only people the TeaPublicans are worried about are Wall Street robber barons, corporate stooges like the Koch brothers, and billionaires. But if you are a working man or woman, the TeaPublicans are screwing you.
Wed Jun 01 2011 10:01:53 GMT-0500 (Central Daylight Time)
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ODE magazine has an article on what they call "Spiritual Capitalism."



Sounds great, but is it worth it? Versteeg thinks so. Brokers are performing better and the number of customers is increasing, mainly through referrals from existing clients.“Our people dedicate their time now to more human goals,” Versteeg says. “The salespeople have their pride back and clients are happier than ever before.”
Field suggests a whole new kind of financial metrics, “so that the value of a company becomes not a single number based on its profits, but a composite number that includes its spiritual health.” Sound too good to be true? Take a look around. It’s already happening, at companies like Allianz, Ameriprise, Dr. Hauschka, One World Everybody Eats and countless others. 
It goes a bit further than my idea of "Ethical Capitalism" by focusing on doing good rather than just creating a more sustainable business model by paying your employees a wage that is good compared to the profits they help create, but it fits well.  I suppose a merger of the two where doing good is just a side effect of doing good business could be "Sustainable Capitalism?"  All of them should move away from the wrong-headed idea of Profits-first and put People-First back into business.


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Some Comments on a blog post I found interesting :
The GOP are the biggest job killers of all time. Recent reports in my area (California) show that employers are not able to find enough educated people for jobs. So why are the GOP job killers? Well, the GOP labels any tax as a job killer, but fail to notice that every loss of tax revenue equates to cuts in education, either at the K - 12 level or colleges. Without an education, people are not employable. My take on all this is that the GOP, with most of their wealthy contributors able to go to private school their entire lives, are content with the rest of the U.S. in minimum wage jobs. Reducing taxes and then cutting education are the real job killers. Maybe not today, but for a long time. Fri May 27 2011 16:04:23 GMT-0500 (Central Daylight Time)
Ziyu Ziyu (ziyu) wrote:
How about a real jobs program instead of an ideological program? Tax cuts don't create jobs. Jobs are created when there is lots of business activity driven by demand that more people are needed to help the company. Having more money just adds to profit. It creates no motivation for jobs. Tax cuts are not a real jobs plan. It's untargeted, creating massive inefficiencies, and just serves as another talking point. Let's see a real jobs bill that non-partisan economic analyses say will create jobs. Until then, all of that talk about jobs is still just hot air. Fri May 27 2011 18:06:41 GMT-0500 (Central Daylight Time) 

Cutting taxes is part of the reason the deficit is so big to begin with, and deregulation gets us disasters like Upper Big Branch and Deepwater Horizon. When will republicans learn? Better question, when will the American people learn? Fri May 27 2011 16:49:57 GMT-0500 (Central Daylight Time) 

Friday, May 27, 2011

Economics Explanation

Angry Bear has a post about why wage and income growth are the key to reviving the economy.  It goes a long way toward supporting my Ethical Capitalism stance.

My idea of "Ethical Capitalism" apparently does not mesh with the popular idea out there.  I am focused merely on the Fiscal aspect of paying workers well as compared to the executives.  Ford's 40 to 1 measure could be expanded a bit today. Maybe pay your CEO no more than 50 entry level workers, or at most 100 times more than an entry level worker.

The Profits-over-Everything mentality is destroying the economy.  When more companies realize that profits are not everything and that sustainability will pay off more in the long run, perhaps we can avoid the bubble and burst roller coaster effect.

Wednesday, May 25, 2011

Couple things to shout about

First, a quote from my corporate hero :
There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.
Second, an article on Truthout.  Not exactly for it's scathing review of progressives, but for a section on recovering Democracy.
( I clipped and rearranged a couple items in the following clip from the article )
Structural political reforms are needed for that movement to transmit change through government at all levels. <clip> The two-party system is sclerotic. <clip> The reason for this is that the rules of the game that elect our representatives actually hurt [Democracy].  
 A truly democratic electoral (and thus political) system would include:
  • Public financing of campaigns.
  • Free media time for campaigns.
  • Universal/automatic voter registration.
  • Direct election of the president (abolition of the electoral college).
  • Instant runoff voting to allow voters to express their true preferences and prevent spoilers.
  • Proportional representation (allowing more than two parties).
Together these measures would serve to both expand the electorate and broaden representation in our legislatures.
I am not sure (yet) what all Proportional Representation entails, but I'll find out.  Everything else sounds right on spot.