Prosperity—Not Poverty

Post by @ForAJustSociety  [https://thejobgap.org/]

Nationally, this report finds that there are seven job seekers for every job opening that pays the national single adult living wage of $17.28 per hour. This leaves six out of seven job seekers unable to secure employment that allows a single adult to make ends meet, much less support a family.

This lack of good paying jobs reinforces income inequality that continues to play a major role in perpetuating existing wealth gaps for women, people of color, and the LGBTQI community. While occupations that traditionally employ high rates of women and people of color include occupations with the most openings, those jobs are more likely to be low-wage. This contributes to existing wealth gaps by diminishing the ability of women and people of color to save and build up wealth.

A strong public infrastructure plan can address racial, gender, and LGBTQI wealth gaps while providing a large number of good paying jobs through a number of mechanisms, such as targeted hiring from struggling communities – including women, people of color, and the LGBTQI community – and strong wage floor requirements. Equally as important are the types of infrastructure projects that are prioritized. Ensuring access to clean water for marginalized communities, for example, must come first while any plan that would privatize public assets must be rejected.

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Bernie Sanders: Big Business ‘Took trump Hostage and Won’

In essence, United Technologies took trump hostage, he caved, and United Technologies won.  And, that should send a shock wave of fear through all workers across this country.

—by Nika Knight, Common Dreams staff writer

The Carrier plant in Indianapolis, Indiana, where United Technologies is preserving only 1,000 jobs in exchange for a reportedly large tax cut and regulatory favors promised by President-elect Donald Trump. (Photo: Darron Cummings/AP)
The Carrier plant in Indianapolis, Indiana, where United Technologies is preserving only 1,000 jobs in exchange for a reportedly large tax cut and regulatory favors promised by President-elect donald trump. (Photo: Darron Cummings/AP)

President-elect donald trump has bowed to corporate power and walked back his own campaign promises mere weeks after being elected, says Sen. Bernie Sanders (I-Vt.) in a Washington Post op-ed published Thursday.

trump betrayed workers with a massive hand-out—reportedly a large promised tax cut and “regulatory favors”—to United Technologies, the owner of Carrier, in exchange for the company keeping a portion of its Indiana factory jobs in the U.S., Sanders argues.
Sanders excoriates the real estate mogul’s decision:

President-elect donald trump will reportedly announce a deal with United Technologies, the corporation that owns Carrier, that keeps less than 1,000 of the 2,100 jobs in America that were previously scheduled to be transferred to Mexico. Let’s be clear: It is not good enough to save some of these jobs. trump made a promise that he would save all of these jobs, and we cannot rest until an ironclad contract is signed to ensure that all of these workers are able to continue working in Indiana without having their pay or benefits slashed.

In exchange for allowing United Technologies to continue to offshore more than 1,000 jobs, trump will reportedly give the company tax and regulatory favors that the corporation has sought. Just a short few months ago, trump was pledging to force United Technologies to “pay a damn tax.” He was insisting on very steep tariffs for companies like Carrier that left the United States and wanted to sell their foreign-made products back in the United States. Instead of a damn tax, the company will be rewarded with a damn tax cut. Wow! How’s that for standing up to corporate greed? How’s that for punishing corporations that shut down in the United States and move abroad?

trump’s decision, the Vermont senator argues, greatly endangers American jobs. It sends a signal to “every corporation in America” that executives can threaten to move jobs overseas “in exchange for business-friendly tax benefits and incentives.”

“And who would pay for the high cost for tax cuts that go to the richest businessmen in America? The working class of America,” Sanders notes.

The working class is subsidizing an already absurdly wealthy billionaire corporate class, argues the democratic socialist, and trump’s move will make that trend worse.

“Last year, [United Technologies] made a profit of $7.6 billion and received more than $6 billion in defense contracts,” observes Sanders. “It has also received more than $50 million from the Export-Import Bank and very generous tax breaks. In 2014, United Technologies gave its former CEO Louis Chenevert a golden parachute worth more than $172 million. Last year, the company’s five highest-paid executives made more than $50 million. The firm also spent $12 billion to inflate its stock price instead of using that money to invest in new plants and workers.”

“Does that sound like a company that deserves more corporate welfare from our government?” Sanders wonders.

Sanders plans to introduce an anti-outsourcing bill when Congress reconvenes in January, which would levy a tax against corporations for outsourcing American jobs. The move could highlight the hypocrisy of Trump’s pro-worker campaign rhetoric and his pro-corporate actions.

“If donald trump won’t stand up for America’s working class,” writes Sanders, “we must.”


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The Jobs Report In 5 Charts

A Remarkably Positive Jobs Report, With A Reminder That There’s More To Do

— by

 

jobs2014-11
CREDIT: DPCC

The November jobs report was released today, and it brought a lot of good news. The U.S. economy added 321,000 jobs in November, well exceeding analysts’ expectations of 230,000. The unemployment rate remained at 5.8 percent. But the report also offers a reminder of the struggles that many working Americans continue to feel in the sluggish recovery.

The monthly jobs report doesn’t provide a comprehensive view of how our economy is doing, but it does offer an important glimpse into some of the macro employment and wage trends that reflect whether the economy is growing, and who is sharing in that growth. Here are five charts that show what to be happy about, and why we need to continue to work so that everyone has a chance for economic opportunity and prosperity.

This article was published by ThinkProgress” online.  Read the full article here ….

Such Short Memories: The Worst President Since World War II? Uh, Guess Again!

Reblogged from mykeystrokes.com:

When George W. Bush was inaugurated president of the United States on January 20, 2001, the unemployment rate stood at 2.4 percent. By the time Dubya completed his second term in office on January 19, 2009, the unemployment rate at risen to 7 percent. When Dubya took office in 2001, he was left with a budget surplus of $127.3 billion. When he completed his second term, he left a budget deficit of $1.4 trillion.

Read more… 639 more words

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Job Losses v. Job Gains

by Rich Dunn, NVRDC 2nd Vice Chair

The big news last Thursday was that almost 300,000 jobs were added in the month of June. But a closer look reveals that in reality 500,000 good paying full time jobs were lost and 800,000 low wage part time jobs were created. There was actually a decrease in net employment, which is consistent with all the terrible GDP numbers. The US remains firmly in a job recession, which begets less consumer spending, which begets lower corporate earnings and outlooks, which begets protracted economic recession. The stock market only sees what it wants to see and catapults ever higher, but it’s only a matter of time before the market’s irrational exuberance runs its course and we’ll have a correction. This is exactly what you could expect given the economic illiteracy of the tea party Republicans in control of the national purse strings. The economy needs restructuring, instead we get disasterous sequester spending cuts, proving yet again that elections have consequences.