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Health Care & Environment

11.16 Scotland was first Industrialized Country to Run wholly on Wind in October

11.16 How pesticide bans can prevent tens of thousands of suicides a year [how many thousands more die early from eating pesticide-laced food?]

11.15  The long read:  The plastic backlash: what's behind our sudden rage – and will it make a difference? [the world wants to throw-up...]

11.15 Claws out: crab fishermen sue 30 oil firms over climate change [workers are waking-up...]

11.15 Trump administration to cut air pollution from heavy-duty trucks

11.14 Backed by Ocasio-Cortez, Youth Climate Activists Arrested in Pelosi's Office Demanding Democrats Embrace 'Green New Deal'

11.13 What would a smog-free city look like?

11.13 Global report highlights Australia’s renewables potential amid mixed signals for coal

11.13 Interior department whistleblower: Ryan Zinke hollowed out the agency

11.12  This Land is Your Land:  The Zinke effect: how the US interior department became a tool of industry [behaving ignorantly again...]

11.12 Planned Parenthood's new president warns of 'state of emergency' for women's health

11.11 Trump responds to worst fires in California’s history by threatening to withhold federal aid [behaving ignorantly again...]

11.11 Interior department sued for ‘secretive process’ in at-risk species assessment [behaving ignorantly again...]

11.11 Keystone XL pipeline: judge rules government 'jumped the gun' and orders halt [behaving ignorantly again...]

News Media Matters

Daily: FAIR Blog
The Daily Howler

US Politics, Policy & 'Culture'

11.16 As 'Green New Deal' Demand Grows, Democrats Have Choice: Confront and Defeat Fossil Fuel Industry or Take Credit for 'Doomed' Planet [Two choices: Save life-on-Earth or help Republicans let it die?]

11.16 Trump’s latest interview shows a president who’s in way over his head

11.16 Why the political fight in Georgia is far from over

11.16 Florida judge sides with Democrats, giving thousands a second chance to fix their ballots

11.15 Democrats Won Big. Can They Go Bold, Too? [it's about suppressing the influence and leadership by Republican-like Democrats who counsel 'íncremental' (no) change, such as Nancy Pelosi, Steny Hoyer, Hillary Clinton, Chuck Shumer and Joe Biden]

11.15 Pentagon Officials Forced to Make Fewer Public Appearances to Avoid Provoking Trump [ revealing Trump's huuuge ignorance]

11.15 REPUBLICANS USED A BILL ABOUT WOLVES TO AVOID A VOTE ON YEMEN WAR [if there are 'defense industry' profits to be made—including congress-critter insider-trading—and political 'donations' to be had, we mustn't stop killing innocent civilians!]

11.15 Big Oil v the planet is the fight of our lives. Democrats must choose a side

11.14 The Real Florida Recount Fraud

11.14 Telling NRA #ThisIsOurLane, Doctors' Photos Show Blood-Soaked Reality of America's Gun Madness

11.14 At Freshman Orientation, Young and Growing Progressive Caucus Makes Clear It Will 'Fight Like Hell' for Bold Democratic Agenda

Justice Matters
High Crimes?

11.14 The Guardian view on Yemen’s misery: the west is complicit [WAR CRIMES]

Economics, Crony Capitalism

11.16 Amazon’s HQ2 Will Get a Tax Break Designed to Help the Poor [a Republican program that directly helps participating wealthy companies—but only helps workers if and when 'trickle-down' occurs.]

11.16 Trump doesn’t want to punish Saudi Arabia over Khashoggi. His new sanctions prove it. [George W. Bush made a similar immoral decision for the same oily reasons after 9-11, protecting Saudi defense contracts while facilitating the slaughter of poorer Arab "terrorists" in the region.]

11.15 The Earth is in a death spiral. It will take radical action to save us [fossil fuel burning, un-recyclable plastic production/use and methane gas release must cease ASAP.]

11.14 Brexit: May tells her cabinet, this is the deal – now back me

International & Futurism

11.15 Cuba to pull doctors out of Brazil after President-elect Bolsonaro comments [terms must be negotiated for fairness to Cuba's health professionals without disruption of healthcare for Brazil's poor]

11.14 'Appalling' Khashoggi audio shocked Saudi intelligence – Erdogan [Exposing a psychopath?]

11.14 Israel and Hamas launch hundreds of attacks in Gaza clash

11.14 Mueller seeking more details on Nigel Farage, key Russia inquiry target says

11.13 Austin's Fix for Homelessness: Tiny Houses, and Lots of Neighbors

11.13 Portugal Dared to Cast Aside Austerity. It’s Having a Major Revival.

11.13 Caravan marks one month on the road: ‘We keep on going, laughing or crying’

11.13 Letter Shows Einstein’s Prescient Concerns About ‘Dark Times’ in Germany

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This site Web
  Print view: Let's Fix America's Rotten Business Plan

Let’s Fix America’s Rotten Business Plan

by Marc Cherbonnier
Wednesday, 6 October 2010
America’s business plan is totally corrupted to serve off-shoring corporations for maximizing profit and swelling GDP, which now stands for nothing because it is disconnected as a metric measuring national economic health and good jobs.

America’s business plan--its business formula--is totally corrupted to serve off-shoring corporations for maximizing profit and swelling GDP, which now stands for nothing because it is disconnected as a metric measuring national economic health and good jobs. Meanwhile the quality and pay of American jobs is in free-fall, as even high-technology, science and engineering jobs are off-shored. Entire divisions of our largest tech companies are being off-shored to Asia to increase profits without restriction or tax penalty.

Yes, our recent college graduate kids can still find jobs more readily, but these are not the quality of jobs a prior generation could expect—many college-level jobs have been off-shored to Asia to reduce labor costs. Only children of the elites/well-connected have a good shot at high-income careers in the U.S. (not counting lucky good actors and professional athletes).

Most of our not well-born/well-connected college graduates carry very high college debt and have little option but to take low-paying jobs in retail or commission-only sales to make minimum loan interest-only payments, because so many well-paying high-tech engineering and science jobs have left the country.

Meanwhile, there is the phenomenon where profits earned off-shore doesn’t even return to the U.S., thus avoiding paying corporate taxes while at the same time depriving domestic banks of deposits to leverage to make loans against would-be greater assets, thus tightening the credit market more than natural, exacerbating recession recovery.

With the recession thus continuing, deficits hard to reduce, and more needed job stimulus not passable in Congress, we must print more and more dollars to keep interest rates low so our economy doesn’t go over the cliff. But this feeds the fall in the dollar’s worth compared to other currencies and gold, and devalues our savings. It will, however, make paying the debt easier with devalued currency, provided interest rates are kept low and incomes and tax revenue go up. The number of “ifs” are stacking up.

And now, after the Citizens United ruling by the Supreme Court, our “patriotic” corporations can shovel unlimited money into election campaign ads, making it near-impossible to change government through elections, especially since sympatico corporations control America’s mainstream media.

So the public will never understand how much they are being lied to about such hugely important issues. They will never understand, for example, that profits of “American” corporations mean nothing positive to American families in terms of jobs or income for their children. Rather, the opposite has happened; “our corporations” are creating jobs in lower-wage countries instead of at home.

Recent news reports say that Republican PACs run by Karl Rove, Dick Armey and their ilk have been raising four times more corporate money from corporations than the Democrats, and they are about to unleash a new wave of negative ads to defeat even “conservative" Democrat candidates striving to curry corporate support.

Simple legislation we must do NOW can solve many of these problems and decrease the deficit:

  • legislate constraints/tax penalties for off-shoring desirable jobs
  • reduce tax penalties to repatriate foreign earnings to ease lending constraints
  • legislate major restriction of corporate influence of election candidates, campaign outcomes, and the actual writing of legislation
  • legislate elimination of corporate ownership and influence of mainstream media
  • institute a “Tobin Tax” on all financial transactions to create a bailout fund and to reduce the current deficit to help pay for larger social/medical entitlements due to the greater number of boomer retirements, the tax is ideally implemented in concert with a same or similar tax for the same purpose on all stock markets. Lower deficits will reduce currency devaluation.

Mr.Cherbonnier is the web editor of this newspaper.

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This story was published on October 6, 2010.

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