The rich in America continue getting richer and the poor continue getting poorer. A study done at the Harvard Business School showed that the widening gap between the wealthiest and the lower classes is unlikely to improve any time soon. In fact, 47 percent of the respondents to the study said that over the next three years, they expect U.S. companies to be less competitive and less able to pay higher wages and benefits. “Thriving citizens become more productive employees, more willing consumers, and stronger supporters of pro-business policies,” the study said. “Struggling citizens are disgruntled at work, frugal at the cash register, and anti-business at the ballot box.”
Tag Archives: NAFTA
In Citizens United vs. Federal Election Commission, the Supreme Court ruled that corporations are equivalent to people, and thus have the same first amendment rights including free speech. Several rulings have also stated that money is equal to speech and that any attempt to abridge those rights (for example, the McCain-Feingold law, which limited campaign donations) is a violation of the Constitution. This disastrous decision has paved the way for companies that care more about overseas profits than America.
We have been hearing from mainstream news that the economy is sluggishly improving, but is it really? How could it be improving when foreclosures are at an all time high in New Jersey? How could it be getting better when American company Radio Shack is on the verge of selling out and desperately looking for capital? How could it be improving when American companies like Burger King strategically buy Canadian based Tim Horton’s in order to move its headquarters to Canada to avoid paying our high corporate tax rate? How can it possibly be getting better when the vast majority of the jobs in our country are now service industry jobs like flipping burgers. These jobs are acceptable for teenagers looking to make extra money, or seniors who are retired and looking for a little extra cash. However, they are inadequate for head of households looking to feed their families, pay for a mortgage, bills and gas. These jobs are not enough to pay back student loans for college graduates.
The Federal Reserve is set to end its economic stimulus program in October, bringing to an end the controversial five-year-old scheme. All of this is unnecessary as we should be focused on rebuilding our manufacturing strength rather than giving more money to the biggest banks.