-Collins & Yeskel: ‘”The larger economic trends of the past three decades [1975-2005]: falling wages for the bottom 60%;
wealth inequality – the top 1% of households had more wealth than the bottom 95%; the widening gap between the richest and lowest paid workers. Inequality in wages is at an all-time high; losing ground at work – in the last 25 years, 3 0f 4 U.S. wage-earners lost ground on the job; precarious and stressed middle class – half the population says they feel no employer loyalty or job security; the rising tide lifts only yachts – unlike the post- World War II years, when economic growth was shared more equitably, a dramatic pulling apart in the last 25 years between the small number of “haves” and everybody else.”
Collins & Yeskel: ”The problem of inequality is, in part, a problem of democracy. The growing role of big money in politics is only one aspect of the decline of democracy. The vast majority of people in this country have been excluded from decision-making about some of the most important rules determining our shared economic lives.”….
”We believe that we are at a dangerous juncture. As wealth concentrates in the hands of a few, so does the power to change the rules that govern our economy.”..
”This is a vicious circle. As corporations gain more power, they use their power to buy lobbyists and pay to elect candidates who will change the rules in their favor. They buy the media and utilize complex tactics to influence and shape public opinion and culture.”
Collins & Yeskel: “What is clear is that economic inequality is the result of rules rules that govern the economy; over three decades of public policies and private corporate practices that have benefir asset-owners at the expense of wage-earners. Tax policy, global trade policy, government spending, and regulation have all been tilted in favor of asset-owners and large corporations.”
Collins & Yeskel: “The power shift since the 1970s: on the rise: big campaign contributors, corporate lobbyists, corporations, big asset-owners, CEOS, Wall Street. In decline: popular political movements, voters, labor unions, wage-earners, employees, main street.”
Collins & Yeskel: Rule changes since the 1970s: for unions, an anti-union climate; in trade, global treaties that benefit corporations; in taxes, big tax cuts for the wealthy; in the budget, corporate welfare expands. Human services are cut.
The minimum wage is not raised for inflation. Federal Reserve policy, “whip inflation” policy helps investors, hurts wage growth. In “privatization,” government dismantling helps investors, hurts consumers and workers.”
Collins & Yeskel: “”In the last two decades, large corporations have taken over the health care industry in the United States. The corporate takeover of health care has caused a restructuring similar to other industries, including downsizing, subcontracting and outsourcing, work speed-ups, and mandatory overtime.”
Collins & Yeskel: ”We have prepared graphs, using Census Bureau data, that illustrate how America grew together from
1947 to 1979 in real family income; and illustrate how America grew apart from 1979 to 2003.”
Collins & Yeskel: “In the last 30 years, the tax burden has been transferred from large corporations to individuals; from the wealthy owners of assets to low-and middle-income earners; from foreign corporations to domestic corporations;
from foreign investors to U.S. workers; from multinational corporations to medium-sized and small businesses; from the federal government to state and local governments whose taxes are the most regressive; from today’s taxpayers to the next generation of taxpayers.
”The shift part of the program comes in the form of budget cuts and shifts eroding the quality of life for working people. But these tax cutters are counting on the American public not to connect the dots between local service cuts and federal budget policies.”
[note: the preceding testimony comes from Chuck Collins and Felice Yeskel”s 2005 book: “Economic Apartheid in America.” Please access the book – for text, data, graphs and charts – all illustrating THE NUMBERS BEHIND THE THEFT OF THE AMERICAN DREAM SINCE 1980 – by the perps: the rich and the corporations they control.
Reflect on this: WHY did they choose the term ”Economic Apartheid in America?” What does “apartheid” mean?
What are thy telling YOU about what has happened to the bottom 90% of America since 1980???????
With Justice For All 