$1.4 Trillion With Earned Income Tax Credit

Paul Krugman: ” … we can limit the human damage when they do happen. We can guarantee health care and adequate retirement income… We can provide aid to the newly unemployed. And we can act to keep the overall economy strong — which means doing things like investing in infrastructure and education, not cutting taxes on rich people and hoping the benefits trickle down.”

We can rebuild union density so half the workforce isn’t getting paid way less than they would be paid if we had, say, German union density.

If McDonald’s can pay $15 an hour with 33% labor costs, Target pay pay $20 with 10-15% labor costs, Walmart can pay $25 an hour with 7% labor costs. At least that’s the hope — and labor being able to flex its bargaining muscles in the (truly) free market is the only way we are going to find out.

Labor unions are the only way to end punishing just-in-time work scheduling.

Labor unions are the only thing ever going to end endemic abuses like …
big pharma gouging,
for-profit-college-scams,
ever growing financialization,
etc., etc., etc.
by supplying the permanent political machinery to back up the average person.
* * * * * * * * * * * *

A look at the not-so-workable approaches other than labor unions:

If EITC could somehow be used to restore the 10% overall income share lost by the bottom 45% over a couple of generations — IOW could be used to double (!) their incomes — that would come in at something like $1.4 trillion a year, not today’s $70 billion (equals 1/2 of 1% of overall income). Before we tear out hair out figuring out how we would distribute that — it would obviously upend the whole (consumer) market-based direction of production.

I’m not nearly as interested in the min wage as I am in rebuilding labor union density. That would sort out production by the max the consumer would put up with rather than the minimum labor will up with (starting with the most vulnerable workers and working up).

I’m guessing if the mid 54% pay 14% more of their incomes through higher prices (10% of overall income) — they in turn with their new union generated political power can just confiscatory-tax back the 10% overall the top 1% squeezed out over the last two generations.

Their moral question there could be phrased as do they want to keep the 54% in penury (may not be a choice if the 45% refuse to show up for work [strike]) or do they want pro quarterbacks to work for a million a year instead of ten million. When faced with questions like this I ask myself: what would Jimmy Hoffa do? 🙂

Finally occurred to me that the bottom 45% will heartily encourage the mid 54% to lay that confiscatory-tax (90% on all income over say $2 million?) on the 1% — so they can get at some of that money! :-O

Denis Drew
Chicago
ddrew2u@sbcglobal.net
http://www.ontodayspage.blogspot.com

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One Response

  1. There is a connection between President Trump and the strike my Union Local 3 is currently on with our employer Charter Communications. The CEO, Tom Rutledge met with President Trump at the White house on March 24th to state he would be hiring 20,000 new workers and doing a $25 Billion dollar infrastructure upgrade. (Trump took all the credit as usual.) Meanwhile, we were in the middle of negotiations of our contract set to be signed on 4/1. Once we saw Charter/Spectrum wanted to cut our benefits, pensions and the 401K contributions, we did a work stoppage and started strike at dusk on 3/28/17. We have been working without a contract since 2013, and the CEO made $98Million as a bonus on top of his $2Million salary last year, and he wants to take all our benefits and contributions away from the company my union Local 3 IBEW fought hard for. Trump was at the builders convention on April 4th and he did a “shout out ” to us, but our Local 3 was not there. He has a long history back in NYC with the Local 3 and its not a good one. He always went “non union” and “union ” when he HAD TO . Here is our story. Feel free to post, this is the biggest news story of Corporate Greed and Union Busting in our lifetime, that is if Charter/Spectrum wins this fight. We have faith in our union. We will be demonstrating this Tuesday at the corporate headquarters in CT…at the shareholders meeting . The shares for Charter/Spectrum are 330 a share!!!!!!!! We are getting NO MEDIA ATTENTION. Rutledge controls the media and they don’t want the shareholders finding out about the strike..see our story ..The New York City and Bergen NJ Local 3 “I.B.E.W” is on strike against Charter Communications/Spectrum cable since 3/28/17 due to unfair labor practices. (see the backstory below) 1,800 of the union workers walked off the job after the negotiations for our contract renewal stalled and Charter refuses to act in good faith. A new contract was supposed to be signed on April 1st and we have been working without one since 2013. This was one of the “three articles” written on the strike by Ginger Adams Otis at the NY Daily News…
    http://www.nydailynews.com/new-york/union-strike-hits-spectrum-time-warner-cable-benefits-gear-article-1.3011477.
    Besides Ginger’s article, no one else is covering this story from a major news outlet.

    There will be a demonstration at Charter Communications for their annual shareholders meeting in Connecticut next week. We wanted to get the word out, because the unions voice is being silenced in the media. We are going to let the shareholders know what is going on because they are unaware of this situation. Please see the following information on the strike, and information on the demonstration happening this Tuesday, April 25th…THE LOCATION IS :
    CHARTER COMMUNICATIONS, 400 ATLANTIC STREET STAMFORD, CT 06901
    Our union representative at the Local 3 IBEW is Derek Jordan, and he can be reached at (718) 591-4000

    This is the back story…

    The Local No. 3 IBEW is on strike against Charter/Spectrum Cable since 3/28/17. The Local 3 is fighting for a fair contract. They haven’t had one since 2013. Thomas Rutledge, the CEO, donated money to the White House and got a televised appointment last month with President Trump and claimed he will be creating 20,000 new jobs and doing a $25 Billion dollar upgrade on the system.
    https://www.whitehouse.gov/featured-videos/video/2017/03/24/president-trump-meets-charter-communications-ceo-thomas-rutledge
    This was 4 days before his union went on strike. He wants to hire all these new workers, but he has his own 1,800 union employees picketing and fighting and waiting since last month. These positions include Technicians, Dispatch, Design, Foreman, Shop Stewards, Coding and Plant, or the “brains of the system”. CHARTER IS USING NON UNION CONTRACTORS TO PICK UP THE WORKLOAD. This is in violation of the franchise agreement Charter/Spectrum Cable has with the City of New York. They are also using outside non-union contracting companies with employees who do not even speak English!!

    Contractors are coming from states as far as California and Florida. This is illegal and against their franchise contract. They are supposed to be using their union workers. Please support the Local 3 and demand that Charter / Spectrum sits down at the bargaining table. The men and women aren’t fighting for “more”. They are fighting for what they have been receiving for the last 40 years. Charter/Spectrum wants to eliminate Annuity/HRA contributions, Medical, Dental, and the Company 401K contributions. They want to do away with all foreman and the representation of the shop stewards. Charter/Spectrum has also demoted 15 foreman due to their ages and replaced them with company managers in their 30’s. This is age discrimination! Charter/Spectrum is also being sued by Eric Schneidemann of the New York Attorney General’s Office for lying and ripping off customers for false advertising regarding internet speeds.

    https://ag.ny.gov/press-release/ag-schneiderman-announces-lawsuit-against-spectrum-time-warner-cable-and-charter

    Charter/Spectrum cable has been using a faulty metric system and “writing up and disciplining” union members for repeat appointments with customers due to their faulty equipment and slow internet speeds. Charter/Spectrum has no respect for their own employees and no respect for their customers. This is a sad situation. If Charter/Spectrum wins, this will be the biggest new story of CORPORATE GREED and UNION BUSTING we have ever seen in our lifetime. Rutledge made a $98,000,000.00 bonus on top of his $2,000,000 salary in 2016 and every day that these men and women are on strike proves that GREED is what Charter/Spectrum stands for. Please support us in this fight. Spread the word. Thank You,

    From the LOCAL 3 Unions blog which was created for this strike …http://nycabletruth.blogspot.com/

    “THERE WILL BE A CHARTER/SPECTRUM ANNUAL MEETING OF STOCKHOLDERS APRIL 25, 2017, 8:30 AM.

    THE LOCATION IS 400 ATLANTIC STREET STAMFORD, CT 06901.

    YOU MUST BRING THE PROXY THAT WAS INCLUDED WITH THE BOOKLET YOU RECEIVED IN THE MAIL ALONG WITH YOUR DRIVERS LICENSE TO ATTEND THE MEETING. ALL OTHERS WILL BE PICKETING OUTSIDE.

    LOCAL #3 MEMBERS AND LOCAL #3 MEMBERS WHO ARE SHAREHOLDERS AND LIVE NEAR WESTCHESTER SHOULD CARPOOL TO THIS LOCATION.

    ALL MEMBERS ARE NEEDED FOR THE PICKET LINE AND IT IS RECOMMENDED THAT YOU CARPOOL AND ATTEND. EVERYONE SHOULD ARRIVE BY 7:00 AM.

    THERE WILL BE TWO BUSES DEPARTING FROM 158-11 HARRY VAN ARSDALE JR. AVE AT 6:00 AM SHARP ON APRIL 25, 2017 FOR MEMBERS WHO ARE SHAREHOLDERS. THIS WILL BE A FIRST COME, FIRST SERVE BASIS. ALL OTHERS MUST CARPOOL IF YOU ARRIVE AT THIS LOCATION AND NO SEATING IS AVAILABLE.”

    Trump at the April 4th builders convention look at the local 3 comments he made at the 1:40 mark!!
    http://heavy.com/news/2017/04/donald-trump-live-stream-watch-online-national-building-trades-unions-conference-speech-remarks-president-video/

    Brooklyn Eagle news article…some small town papers are starting to cover this union takedown…
    https://www.brooklyneagle.com/articles/2017/4/17/union-workers-strike-sunset-park

    PLEASE JOIN US AND SPREAD THE WORD…

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