Anti-communist propaganda alive and well

For some reason, our government and its propaganda arm, the mainstream media, refuses to give up beating the dead horse that is Cuba. We've had it in for them ever since they went Commie, and we're not about to quit now! I just noticed this article from Newsweek entitled "Castro tells the truth about Cuba" which gives us the current bad news:

He has outlasted eight U.S. presidents, survived countless CIA efforts to do him in, and his communist regime has remained in power for a generation after the collapse of his Soviet sponsors. So what does the leader of the 1959 Cuban revolution think now of the system he created? Last week The Atlantic’s Jeffrey Goldberg reported Fidel Castro’s startlingly honest assessment: “The Cuban model doesn’t even work for us anymore.” Some observers suggest that the 84-year-old Castro’s unexpected honesty may be a belated attempt to throw himself on history’s mercy. After all, they say, Cuba is in tatters. According to Andy Gomez, assistant provost at the University of Miami, tourism on the island has declined 35 percent this year, and remittances are expected to drop to $250 million—far below the peak of $800 million earlier this decade. Cuba’s own National Statistics Office has reported that economic indicators, such as construction and agriculture, were down significantly in the first half of the year. And last month, President Raúl Castro began a process of dismissing or transferring some 20 percent of state employees—a major move, given that the government employs more than 90 percent of the country’s labor force. Says Gomez, “The Cuban economy is the worst it’s ever been.”
How dare Castro "survive countless CIA efforts to do him in", who does he think he is?? Anyway, some of these numbers are meaningless without comparison, so let's look at the good-old U.S. of A. [More . . .]

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Why income disparity matters

In a series of articles that he calls "The Great Divergence," Timothy Noah advises that in the United States of Inequality, income disparity is rapidly growing and it does not bode well for our country? Here's an excerpt from today's posting at Slate.com:

Income distribution in the United States is more unequal than in Guyana, Nicaragua, and Venezuela, and roughly on par with Uruguay, Argentina, and Ecuador. Income inequality is actually declining in Latin America even as it continues to increase in the United States. Economically speaking, the richest nation on earth is starting to resemble a banana republic. The main difference is that the United States is big enough to maintain geographic distance between the villa-dweller and the beggar. As Ralston Thorpe tells his St. Paul's classmate, the investment banker Sherman McCoy, in Tom Wolfe's 1987 novel The Bonfire of the Vanities: "You've got to insulate, insulate, insulate."
Wikipedia offers much more information on income distribution in the United States.

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Read more about the article CEOs Earn More When They Fire People
John D Rockefeller - Archetype of today's CEO

CEOs Earn More When They Fire People

John D Rockefeller - Puck Magazine 1901 The Institute for Policy Studies has just released their 17th annual review of CEO salary. It makes for scary reading. While the rest of us suffer through the double-dip-recession-that-never-actually-lifted-off-the-bottom, CEOs, who are not only some of the wealthiest people in the country but are also the most handsomely paid to boot, have seen their income rise in real terms, while their employees have seen a reduction in real income and a significant contraction of job opportunities. According to the Institute

Corporate executives, in reality, are not suffering at all. Their pay, to be sure, dipped on average in 2009 from 2008 levels, just as their pay in 2008, the first Great Recession year, dipped somewhat from 2007. But executive pay overall remains far above inflationadjusted levels of years past. In fact, after adjusting for inflation, CEO pay in 2009 more than doubled the CEO pay average for the decade of the 1990s, more than quadrupled the CEO pay average for the 1980s, and ran approximately eight times the CEO average for all the decades of the mid-20th century.
Their employees, meanwhile
are taking home less in real weekly wages than they took home in the 1970s. Back in those years, precious few top executives made over 30 times what their workers made. In 2009, we calculate in the 17th annual Executive Excess, CEOs of major U.S. corporations averaged 263 times the average compensation of American workers. CEOs are clearly not hurting.
But reality is even worse:
In 2009, the CEOs who slashed their payrolls the deepest took home 42 percent more compensation than the year’s chief executive pay average for S&P 500 companies
The market, and the embedded compensation committees, are rewarding CEOs for destroying livliehoods, for shipping jobs overseas, and for eviscerating the american workplace. These are the same people who lobby our politicians to create business friendly legislation (aka legislation that will protect their bonuses and options) and to fight against social programs (that would level the playing field a little) What was so wrong with the vibrant, growing, energetic America of the 70s and 80s? Why do CEOs hate America, so?

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It’s STILL the economy, stupid!

Former Clinton Labor Secretary Robert Reich has it right.

Democrats should propose eliminating payroll taxes on the first $20,000 of income, and making up the revenue loss by applying payroll taxes to incomes above $250,000. This would give the economy an immediate boost by adding to the paychecks of just about every working American. 80 percent of Americans pay more in payroll taxes than they do in income taxes. And because lower-income people would get most of the benefit, it’s likely to be spent.

It would also give employers an extra incentive to hire because they’d save on their share of the payroll tax. And most of the incentive would be directed toward hiring lower-income workers – who have taken the biggest hit on jobs and pay during the recession.

It wouldn’t add to the deficit. Lost revenues would be made up by applying payroll taxes to income exceeding $250,000. This is certainly fair. As it is now, the Social Security payroll tax doesn’t apply to any income over $106,000. Having the tax kick in again at $250,000 would draw on the top 3 percent of earners, who (as noted) now rake in a larger portion of total income than they have in more than 80 years.

Call it the People’s Tax Cut, and let Republicans explain why they’re against it.”

The other ways that we could improve the economy are simple, may be targeted and could lead to long term employment by many of the some 15 million Americans currently out of work. I recommend the following proposals: - Expansion of the federal bi-partisan HIRE program which has led to many new job hires by a cross-section of businesses in America.

Continue ReadingIt’s STILL the economy, stupid!