The wealth gap between the rich and the poor in the United states has been widening for far too long and has finally reached a 100-year high. “By some estimates, income and wealth inequality are near their highest levels in the past hundred years,” said Federal Reserve chief Janet Yellen. “I think it is appropriate to ask whether this trend is compatible with values rooted in our nation’s history, among them the high value Americans have traditionally placed on equality of opportunity.” As the rich get richer and the poor get poorer, our economy is sinking and it is sinking fast.
Tag Archives: NAFTA
We are being controlled and directed – told what to do – by other nations, for their benefit and to our detriment. Our direction in so-called “free trade” is not just hurting us – it is destroying us. One look at our condition and direction will clearly show we are in a mode of self destruction.
With the holidays around the corner, Walmart along with Macy’s and other department stores are preparing their employees to work during the holidays. Walmart alone reports a million associates to work on Thanksgiving Day and Black Friday. More and more stores are jumping on the bandwagon and opening up on the holidays to attract shoppers. The issue here is that the U.S. is the only developed country that doesn’t guarantee paid holidays. Workers in the service sector industry barely even have a choice on either taking the holiday off or working. Nearly 40 percent of retail workers don’t even receive a minimum amount of hours.
Many thought President Obama would be the hope and change our country needed to see the middle class restored. Instead of following his campaign promises to renegotiate NAFTA, he has pushed for even more “free trade” agreements including KORUS, TPP and TTIP. Each of these trade agreements have caused our country to sink further into massive trade deficits, and have stripped well-paying manufacturing jobs from our shores.
Tariffs were originally set up by Alexander Hamilton, the first Secretary of the Treasury, to help protect American industries. During the Civil War, Abraham Lincoln, then leader of the new Republican Party, similarly implemented a 44% tariff to protect American manufactures and generate funds for the war and the construction of railroads. After World War II and during the Cold War, the U.S. government began lowering trade barriers and instituting what is known as “free trade.”