Wednesday, March 02, 2011

Too Rich to Fail?

Budget shortfalls in many states have helped shine the spotlight on fiscal responsibility, but as we've seen in Wisconsin when there are political careers on the line rhetoric tries to muscle its way into the spotlight, too. There is no guarantee of objectivity left in commercial "mainstream" media in the U.S. anymore; the chase after "bottom line" success has also chased truth and journalistic standards into full retreat.

Now elected so-called leaders want to chase education into full retreat, too. With the full complicity of ratings-driven networks who will present any side of an issue if they make a buck today, the folks who can afford to pay as much for their kid to attend an elite private academy every year as the rest of us can justify for a graduate school have decided public schools and the people who teach them are no longer a priority.
"...in the derivatives market alone, $600 trillion is in play. That’s why the players, and the Chamber of Commerce, are lobbying so hard to be left alone..."
from "$6 Trillion in play: derivatives markets"
18 February 2011 at realitytax
We bailed out Wall Street bankers after the 2008 crash caused by years of risky business put our economy in a tail-spin, supporting their lavish lifestyles, sky-high salaries, and jaw-dropping year-end bonuses; in exchange they demand we reduce taxes on the ultra-rich while our bridges crumble, potholes proliferate, and we're reducing the modest paychecks and threatening the retirement benefits of public school teachers? In the land of opportunity? Seriously?


We've let corporations and lobbyists build a system where the rule is that some are not only being asked to pay less than their fair share, but they're also too rich to fail. What's next, taking away the collective bargaining rights that made this country great by building the middle class into the engine of the world's greatest economy? We can do better than this; on behalf of our children we must do better than this.
In 2009, "America’s top 25 hedge fund managers earned an average of $1 billion each — enough to pay for 20,000 teachers."
Former Secretary of Labor Robert Reich
3 May 2010

Political Correspondent Thomas Hayes is a former Congressional Campaign Manager; he's a journalist, photo/videographer, entrepreneur, and communications consultant who contributes regularly on topics ranging from economics and politics to culture and community, who incidentally stands in solidarity with the citizens and workers in Wisconsin refusing to let their Governor's self-created budget "crisis" and new spending priorities be re-cast as a reason to undermine contractual obligations and collective bargaining agreements.
You can follow Tom as @kabiu on twitter.

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