Freeing Up the Rich to Exploit the Poor--What Trump and Brexit are about

[Fantine]

When corporations free themselves from trade unions, they curtail the freedoms of their workers. When the very rich free themselves from tax, other people suffer through failing public services. When financiers are free to design exotic financial instruments, the rest of us pay for the crises they cause.

Above all, billionaires and the organisations they run demand freedom from something they call “red tape”. What they mean by red tape is public protection.

Bottom line--the 99% need freedom from exploitation--not freedom from unions, taxes, and red tape.

True story: My husband worked in the credit card industry (information technology). My sister and several of our friends worked for big bank. At a time when articles said, "The banking industry is crying for consolidation," they were losing job after job after job. One became an executive recruiter because he figured he could make more money from all the people losing jobs than getting another job that would last a year...

My husband left the credit card industry (involuntarily--best two jobs he'd ever had) for safer industries. My sister retired much too early.

Those cries for consolidation? They're coming from the selfish and the sociopathic--not from the people. The people are crying for stability.

Freeing up the rich to exploit the poor – that’s what Trump and Brexit are about | George Monbiot

 

[Thursday]

Bottom line--the 99% need freedom from exploitation--not freedom from unions, taxes, and red tape.

True story: My husband worked in the credit card industry (information technology). My sister and several of our friends worked for big bank. At a time when articles said, "The banking industry is crying for consolidation," they were losing job after job after job. One became an executive recruiter because he figured he could make more money from all the people losing jobs than getting another job that would last a year...

My husband left the credit card industry (involuntarily--best two jobs he'd ever had) for safer industries. My sister retired much too early.

Those cries for consolidation? They're coming from the selfish and the sociopathic--not from the people. The people are crying for stability.

Freeing up the rich to exploit the poor – that’s what Trump and Brexit are about | George Monbiot

This is meaningless propaganda.

The reality is reducing regulations leads to more good jobs for working people. Leftists have had control of our government for too long. That's why we see a widening disparity of incomes. The left has made it hard for businesses to create good jobs. Trump has started to reverse this steady rise of leftism in America.

 

[SkyWriting]

Bottom line--the 99% need freedom from exploitation--not freedom from unions, taxes, and red tape.

True story: My husband worked in the credit card industry (information technology). My sister and several of our friends worked for big bank. At a time when articles said, "The banking industry is crying for consolidation," they were losing job after job after job. One became an executive recruiter because he figured he could make more money from all the people losing jobs than getting another job that would last a year...

My husband left the credit card industry (involuntarily--best two jobs he'd ever had) for safer industries. My sister retired much too early.

Those cries for consolidation? They're coming from the selfish and the sociopathic--not from the people. The people are crying for stability.

Freeing up the rich to exploit the poor – that’s what Trump and Brexit are about | George Monbiot

Stability is all over with. Almost a billion people are climbing toward the middle class.
And they work cheap.

 

[Greyy]

Okay.

Let's get rid of all labor laws and tax only the poor. Despite what trickle down politicians tell you - they take money from the rich for their campaigns, screw over the working class, and then invest all that money in China and other developing nations. Then those politicians get nifty jobs afterwards.

I don't know how people buy into conservative Republican nonsense anymore. Conservative princples can be found in abundance in third world nations.

 

[Greyy]

Stability is all over with. Almost a billion people are climbing toward the middle class.
And they work cheap.

You mean all those folk paid by American companies to produce goods outside of America at 15 hours per day?

 

[expos4ever]

This is meaningless propaganda.

The reality is reducing regulations leads to more good jobs for working people. Leftists have had control of our government for too long. That's why we see a widening disparity of incomes.

No. As Nobel Laureate Joe Stieglitz argues in great detail, the reason we have income disparity is that the "1%" use their money to buy politicians who enact legislation that effectively funnels money from the middle class to that 1%.

 

[Greyy]

Let's stop taxing anyone with money. Let's just tax poor people and trickle down all the money.

 

[381465]

A lot of class division and hatred here.

That's what both ends need to survive and thrive.

We need less of both/all political parties and government in general.

 

[SkyWriting]

You mean all those folk paid by American companies to produce goods outside of America at 15 hours per day?

The US market is one of many such customers.
15 hour days take about a week to get used to.
I did it 7 days for about 6 weeks when we started
a new production plant.

 

[Greyy]

The US market is one of many such customers.

What you posted made no sense as a reply to my post.

 

[SkyWriting]

What you posted made no sense as a reply to my post.

The US market is one of many countries that buy goods to be
shipped to them overseas. The local countries use cheap sources as well.
Japan outsources to Taiwan.

 

[Greyy]

The US market is one of many countries that buy goods to be
shipped to them overseas. The local countries use cheap sources as well.
Japan outsources to Taiwan.

I am well aware of the fact the rich make profits off of cheap labor by funding communist China with out "trickle down economics" to save a few pennies on the dollar in America.

 

[Armoured]

This is meaningless propaganda.

The reality is reducing regulations leads to more good jobs for working people. Leftists have had control of our government for too long. That's why we see a widening disparity of incomes. The left has made it hard for businesses to create good jobs. Trump has started to reverse this steady rise of leftism in America.

Define what you mean by "good job"? Because to me, a "good job" implies one with basic safety standards and welfare protections.

 

[Thursday]

Define what you mean by "good job"? Because to me, a "good job" implies one with basic safety standards and welfare protections.

I agree. Most good companies offer both. It is easier to offer these things when you are profitable.

 

[Albion]

No. As Nobel Laureate Joe Stieglitz argues in great detail, the reason we have income disparity is that the "1%" use their money to buy politicians who enact legislation that effectively funnels money from the middle class to that 1%.

Since the poor pay no income taxes and actually get money given to them when they file a 1040...and "the rich" pay the great majority of all income taxes, even if they remain wealthy afterwards...

...exactly where does the imagery of the rich getting richer at the expense of the poor end? Would those who throw around such talk so casually be satisfied if "the rich" had every bit of their income confiscated and given to the poor, whether that be the working poor or those who don't care to work?? Where would tomorrow's lunch money for the poor come from in that case?

 

[ExodusMe]

Bottom line--the 99% need freedom from exploitation--not freedom from unions, taxes, and red tape.

True story: My husband worked in the credit card industry (information technology). My sister and several of our friends worked for big bank. At a time when articles said, "The banking industry is crying for consolidation," they were losing job after job after job. One became an executive recruiter because he figured he could make more money from all the people losing jobs than getting another job that would last a year...

My husband left the credit card industry (involuntarily--best two jobs he'd ever had) for safer industries. My sister retired much too early.

Those cries for consolidation? They're coming from the selfish and the sociopathic--not from the people. The people are crying for stability.

Freeing up the rich to exploit the poor – that’s what Trump and Brexit are about | George Monbiot

Not sure what article you are referencing that stated the banking industry is 'crying for consolidation', but the opposite has been true since the financial crisis of 2008. I think the article you are referencing would be an outlier opinion... Here are a few thoughts I have

1) Consolidation of the banking industry is due to government regulation. They actually forced banks to consolidate (think WaMu & J.P. Morgan/Chase).
2) If a company has to make layoffs IT is the first to go. It is a hard truth for your husband's line of work, but I have worked for fortune 500 companies and this has always been the case.
3) Since the 2008 financial crisis banks have been in a pretty tough position considering the new regulations enforced by the government. This means more 'regulatory' jobs added and less (in your case) IT jobs.
4) Banking industry is extremely complex and the governments attempt to control it has failed miserably (as witnessed by your OP). With federal funds rate at an extreme low for the majority of Obama's presidency this has caused consolidation in the banking industry because of a smaller rate of return. Think about a 3% interest rate on a billion dollars vs 3.5% (or 4-5) interest rate. Each .1% amounts to one million dollars. The funds rate isn't 100% correlated, but increasing it will allow new banks to enter the market. Note: a billion dollars on your balance sheet in assets would be terribly small for a bank.

Also, I did a quick internet search and this was one of the first articles. Just want to reiterate that consolidation is due to unions & government regulation. Not free market enterprise.

https://www.forbes.com/sites/steves...llion-jpmorgan-citi-bankamerica/#6ffb057cb539

@Greyy You don't know what you are talking about. The rich are going to make money where ever they can. That is a pre-requisite to being 'rich'. Unfortunately, it is Obama's fault that he let the rich exploit labor from other countries.

Imagine if you remove all trade regulations for imports from a communist country. You are essentially subsidizing the Chinese government, because we all know how well China takes care of their citizens. That's Obama era policies which was welfare for the world paid for by American's masked as "globalization".

Trumps goal to increase taxes on imports will reverse the exploitation of the poor because we will no longer be competing with cheap labor from China.

 

[expos4ever]

Since the poor pay no income taxes and actually get money given to them when they file a 1040...and "the rich" pay the great majority of all income taxes, even if they remain wealthy afterwards...

This is in no way challenges the claim of the many, highly qualified experts who believe there is a problem with concentration of the wealth at the top.

The fact of progressive taxation only shows that the "system" has some mechanisms to redress the plight of the poor. But to argue that progressive taxation undermines the argument that there is a problem of wealth being concentrated in the top 1% is like saying that the fact that we had a cold winter here in, say, Switzerland, undermines the argument that the earth is getting warmer. The big picture data is clear - wealth is flowing to the top:

From Wikipedia:

In Inequality for All—a 2013 documentary with Robert Reich in which he argued that income inequality is the defining issue for the United States—Reich states that 95% of economic gains went to the top 1% net worth (HNWI) since 2009 when the recovery allegedly started.[8] More recently, in 2017, an Oxfam study found that eight rich people, six of them Americans, own as much combined wealth as "half the human race".

This is the problem with some who adopt your position - hand-waving arguments with no substantive evidential support.

 

[Fantine]

Even if factory jobs came back to America technology would eliminate many of them. And prices,would go through the roof..and inflation is bad for the economy.

Banks consolidated in our peak earning years. At this point all of consolidation ' s victims are retired...and a few are dead.

 

[Armoured]

I agree. Most good companies offer both. It is easier to offer these things when you are profitable.

And you think they'd offer them voluntarily without legislation and oversight do you?

 

[Thursday]

And you think they'd offer them voluntarily without legislation and oversight do you?

Yes, many companies offer many more benefits than required by law in order to attract and keep good employees. The more good jobs are available, the better the benefits will be for workers.