A Progressive Economy Can Rebuild America!
By Thom Hartmann A...
Regardless of which presidential candidate you vote for in November, you might want to take a second look at progressive economic policies.
According to a recent analysis by Gerald Friedman, an economics professor at University of Massachusetts Amherst, the Sanders platform could bring about a modern-day “New Deal” that would raise incomes, create jobs, and generate a budget surplus. And, that means that We, The People must keep fighting for those economic goals, regardless of who makes it in to the White House.
Progressive policies like infrastructure spending, free public college, higher social security benefits, and a $15 dollar an hour minimum wage are just what we need to put our economy back on track to grow the middle class and help the American worker.
Professor Friedman said, “Like the New Deal of the 1930s, Senator Sanders' program is designed to do more than merely increase economic activity.” He added that the plan will “promote a more just prosperity, broadly-based with a narrowing of economic inequality.”
Friedman's analysis found that under Sanders' policies, poverty would drop to a record low of about 6%, the economy would group by more than 5%, and our deficit would turn into a surplus by the end of his second term.
This presidential race has already brought tens of thousands of new voters into the political process, and the Sanders' candidacy has changed the entire discussion of what we can achieve when we work together.
The most important thing is, no matter who wins the Democratic nomination, We, The People have the power to demand that these policies become reality. There is still a long way to go to the election, so let's keep fighting to make sure that progressive policies win in November.
Comments
#2
Industrial Hemp is Bernie's revolutionary strategy for putting everyone, in every state, to work in critically needed industries! He is a primary sponsor of SB134, The Industrial Hemp Farming Act of 2015, a bill to "remove federal restrictions on the domestic cultivation of industrial hemp." It can grow in every state in America, which means American jobs! There are 25,000 practical products that can be made from hemp, all while saving the environment. And the best part? It has bipartisan support, so as soon as the bill passes we're on our way! Bernie has amazing foresight, and becoming a sponsor of this unbelieveably important bill is yet more proof!!!
#3
The Sanders platform item by item is already desired by a big vast majority, and that's a fact....yet the corpse media and even many Democrats continue to label him as a far left Socialist, as if he's unelectable and out of touch with mainstream America. LMAO!
You won't hear any of the National media outlets actually talk about his platform...they don't dare to, they know he's already unstoppable.
Fascism: Typically a policy of belligerent nationalism and racism, a right wing system of government and social organization.
Fascism: As defined by FDR...." The liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than the democratic state itself. That, in it's essence is Fascism, ownership of government by an individual, or by a group."
Does any of this sound familiar? Does any of this smell like Trump? ...or others like him, out of control with their god damn money and power....the Kochs????....why aren't we calling a pig a pig???
#4
No denying that he is creating a strong following, but that doesn't necessarily translate into a staunch, unwavering support once he's elected and things start getting tough. Not saying he's unelectable. Not saying he's out of touch. I'm saying that Americans typically don't stick around when the energy and inspiration of the revolution starts to wane.
Obviously he doesn't need the national media to talk about this platform - he is still creating a huge following. I'm not reacting to the corporate media. I'm listening to him and watching him and making my own decisions. Labels are meaningless to me. I don't care what he calls himself, I'm interested in what he's about and does.
I have to ask myself why someone who has been in congress for 30 years wasn't able to create enough support to make some of his big changes. He was an author of the ACA, at least I've heard him say that, and yet he didn't hold out for single payer then. Why does he think it will be any easier to do it when he's president and has a bigger target on his back as far as the congress thinks. He will have to rely on his big following to stand behind him then and I don't believe they will still be there.
#5
Incomes could be raised on a sliding scale but if growing the middle class results in more resource use, climate change will be accelerated, Don't cheer when the GNP goes up.
#6
Bernie plan will get the economy going again. If it becomes too good again the Fed will use its monetary policies to create another recession or a complete bust. Relying on the Fed manage the economic cycles is a flaw in our economic policies. This flaw in our economic policies need to be corrected to strengthen the middle class, and lengthen the periods good economy activity.
The Fed has the ability to do a better job of performing it's mandates of employment and price stability. It could use the excess funds it returns to the federal government each year to slowly buy down all underwater mortgages as homeowners continue to make their monthly payments over a ten year period. This action by the Fed would stimulate the economy by increasing consumer confidence and disposable income. Inflating the housing bubble was the wrong way to heal the economy after the financial crisis of 2008. www.http://www.wp.me/p42WQA-7c
Fanni and Fredi could also help stimulate the housing market and the economy by agreeing to purchase the Asending Interest Rate Mortgage. http://www.wp.me/p42WQA-1Y
If wide spread principal reduction of underwater mortgages had been used, coupled with the low interest rates that the Fed created, the Great Recession would not have been so bad on main St. People would have been able to remain in their homes, and the unemployment rate would not have gone as high. If the 2% Apprection/Inflation Taxation Policy had been in the income tax code the bubbles in the period from 2000 to 2008 may not have occurred! http://www.taxpolicyusa.wordpress.com
#7
This is one of those "duh!" conclusions that everyone sort of knows but no one pays attention to until an economist spells it out. I caught your interview with Prof. Friedman, and he repeatedly said this was just basic stuff -- not rocket science. It makes perfect sense, too. When you rattle off "infrastructure spending, free public college, higher social security benefits, and a $15 dollar an hour minimum wage," what these four have in common is that (1) they can't be out-sourced to China or some other lower-wage country, (2) the money is being put to use here rather than hidden in the Caymans or "invested" in some foreign enterprise promising cheap labor, and (3) the local benefit to the U.S. economy and to the wellbeing of people here is both immediate and longlasting.
#8
pabrex: There is an enormous magnification in the potential to communicate economic and social justice truth to the masses when going from Senator of Vermont to the the leader of the free world. Bernie has always spoke truth to power, and as President his message would finally reach everyone. His message is so powerful that if congress fails to act, I have every confidence in the world that we the people will finally take to the streets, and demand that change. If our so called representatives still refuse to get behind and follow us, then they'll be seeking employment elsewhere in the next election.
BTW: I love the label Democratic Socialist, but the media is cashing in on the rich man's demonization of the word Socialist, and taking full advantage of the ignorance surrounding it. Why not counter this with the label Fascist, which actually fits those who have purchased and control virtually the entire Teapublican Party????.
#9
As an individual, as an enterprise, or as a national economy, when you consume more value than you create you have to relenquish capital. A trade deficit of $700 billion plus hemorages the demand out of our country for over 70 million jobs. Every dollar of trade deficit reduces combined Federal and State revenue by two dollars. We need trade agreements that enforce reciprocity. This should be our number one priority but it is never discussed in any of the debates. Until we reconstruct our individual and corporate tax base, we will only increase deficit spending with all of these pollyanna give aways until the house of cards falls in.
Without increasing taxable individual and corporate income from jobs in this country, who is going to create the commensurate value to pay for free community college education? Who is going to create commensurate value to pay for infrastructure? If any employee cannot create commensurate value for their pay rate, they will lose their job.
We need a flat 15% individual and corporate tax on all income. This would eliminate at least two thirds of a bloated and often abuse IRS bureaucracy . It would help to bring back enterprises to this country and it would stimulate entrepreneurism which means more value creation.
#10
The true definition of economic poverty is the inability of the individual to create economic value for himself or herself and/or for others.
This should be the only accepted definition of economic poverty in the public lexicon. We can only reduce economic poverty by enabling individuals to create legitimate value according to their own enlightened self-interest. We all have the inalienable right to have the opportunity to create legitimate value for ourselves and for others. In the long run, income inequality is the inequality of value creation. Society, through its governments, agencies, institutions, altruistic organizations, and enterprises has the obligation to promote and facilitate individual value creation by constantly improving the five essential resources:
1. A sense of positive persistence.
2. Knowledge of ways to create legitimate value.
3. Enterprises that provide the tools with which to create value.
4. Health and hygiene.
5. Security of rewards and security of person.
Establishing priorities, setting goals, formulating policies, growing public promotional organizations, enacting legislation, creating regulations, and promoting individualism to improve these five resources will provide the only possible holistic approach to reducing economic poverty. History proves that the failure of securing rewards dooms socialism everytime.
#11
An Alternative to Capitalism (since we cannot legislate morality) Several decades ago, Margaret Thatcher claimed: "There is no alternative". She was referring to capitalism. Today, this negative attitude still persists. I would like to offer an alternative to capitalism for the American people to consider. Please click on the following link. It will take you to my essay titled: "Home of the Brave?" which was published in the OPEDNEWS: http://www.opednews.com/articles/An-Alternative-to-Capitali-by-John-Steinsvold-130326-864.html John Steinsvold "Give me neither poverty nor riches"Proverbs 30:8
#12
This is such bullshit. The Banksters or Ruling Elites know very well how to fix our economic woes. And that is money creation in the real economy, often called Quantitative Easing or QE for the people, or Helicopter Money or is including in Basic Income plans. Central Banks are lowering interest rates to zero or below zero to no effect, claiming they must have 2% inflation. This ain't gonna work because big business and even small to medium enterprises have all the money they need, the problem is impoverished poor & middle class don't have the money to spend to stimulate the economy and the rich, the 1% who have all the money don't spend much of their wealth in the Real Economy, they just park their wealth in assets that do zip for the 99%, that is the Real Economy. There is only two conclusions:
1) The Bankster Elites have a contempt for the 99% that really must be something close to absolute disdain and could care less how much they suffer.
2) The Bankster Elites don't want anyone to wise up on their incredible scam of allowing criminal Private Banks to create our money supply out of thin air, as a debt, our privately owned, privately controlled debt-money system, whereby private Banksters get to create 10's of $trillions and they are not even taxed on that welfare. If good citizens ever found out how easily the Federal Gov't could self-finance by public money creation, and cause a rapidly growing economy, that very much benefits the 99% rather than the 1%, that promotes domestic jobs & small business rather than big multi-nationals and foreign jobs - well there could be revolution!
If there was a World War tomorrow, a conventional not-nuclear war, like WWII, then our governments would be borrowing $trillions at interest, private banks would create that money by typing numbers into a computer, and suddenly like magic, Detroit is back to full employment. Shuttered factories are opened up, working at full capacity, 24/7, tanks, planes, ships, artillery, submarines, rations, rifles, missiles, bombs are rolling off the assembly line. Not only does the production of military hardware expand by a massive amount but consumer goods as well. Flint Michigan which can't afford a decent water supply, suddenly easily achieves that. Obama's fake 5% unemployment, becomes negative 40% unemployment, because the people working actually damn near double. The magic of money creation. Bombs don't cause deflation, ships are sunk and don't add to the goods being sold.
We can't do that with our crumbling infrastructure? Bull-SHITE! We can and we should. Build bridges not bombs. Create millions of good paying, honest jobs. And the domestic workers, i.e. not Obama's & Hillary's foreign workers, spend their income in the local economy, and create more jobs. So what's the problem. Oh, criminal Banksters have a seething hatred for public money creation. They figure money creation is their divine right.
Interesting ultra-conservative Finland, after trying the Banksters neoliberal economic policies has said Fuck-this, after 8 yrs of failure and they are the first country to start QE for the people. You got to hand it to the pragmatic Fins.
A must-see video that explains all of this:
"...In this special Winter Why Not? episode of the Keiser Report, Max Keiser and Stacy Herbert talk to Professor Steve Keen about solutions to our unpayable debts, including: basic income, a People’s Quantitative Easing and a global debt jubilee. Professor Keen explains why a modern debt jubilee could please both debtors and creditors, savers and spenders..."
https://www.rt.com/shows/keiser-report/326948-episode-max-keiser-853/
https://www.youtube.com/watch?v=I8cpNg0s7bg
An excellent documentary on the subject is 97% owned - Economic Truth Documentary:
#13
The truth is that as long as there are 218 Republicans in the House of Represntatives and 60 Repubulican Senators non of Bernie's agenda will ever be enacted into law. If the Republican get 291 House seats and 66 Senate seats then the veto pen becomes a museum piece. If you want Bernie to succeed as a president then you must work very very very hard to elect members of congress who will support his goals. The next census will not be done unitl 2020. The last census was used to establish a near impossible to defeat Republican control of Congress. So find 1 person in each of 435 legislative districts to elect to the House and 33 Senators this election cycle.
#14
JFK'S "HEALTH CARE" SPEECH FROM MADISON SQUARE GARDEN (MAY 20, 1962)
#15
happyashell; "The Fed could use the excess funds it returns to the federal government each year to slowly buy down all underwater mortgages"
No need for that, the Fed has already bailed out those private banks, who were left holding all this toxic debt that was justified with bogus performance ratings and promises of full insurance backing by companies like AIG. Using Quantitative Easing, the Fed printed 85 Billion a month for a number of years after the 2008 collapse to bail out these distressed banks, the Fed was essentially buying all this worthless paper from the banks using printed U.S. Dollars making these worthless holdings the property of the American Taxpayer ! A semi-government agency that has existed for a hundred and three years and the taxpayers of this country weren't even consulted when their tax Dollars were used to build them their own headquarters in Washington ! When the Fed was first created, one of the justifications for allowing a non-government agency to print our currency was to head off unrestricted printing of Dollars by the U.S. Treasury that could invite runaway inflation ! Yet it was OK for the Fed to do this to bail out private banking interests !
#16
After working many years in someone else's enterprises to earn a living, I started my own enterprise by creating a new market with a new product. This enterprise creates value for my suppliers, my employees, companies that service my business, my customers, and myself. It took a ten-year struggle of heavy work and reinvesting every cent the enterprise generated before being able to even pay myself. I learned that we all have the inalienable right to be empowered to create value for ourselves and for others. We also have the obligation to create value. Otherwise we are stealing value from someone else who created it. Every one of us requires five resources to be empowered to create value. 1. A strong sense of positive persistence. (Life is full of snags that have to be dealt with and all great things are accomplished in spite of problems.) 2. Knowledge of ways of creating legitimate value. 3. Enterprises that supply the tools with which to create value. (Our biggest national problem is the trade deficit off shoring enough enterprises to employ 70 million people and making the tax base too small to support Federal and State spending levels.) 4. Our health being supported by a transparent and competitive health care system that does not de-incentivize healthcare providers and cause rationing. (We should know up front from a national website what procedures cost for each healthcare provider and how good each healthcare provider is base upon history of outcomes versus prognosis. Then provide health insurance for those who are old or incapacitated. We do not want the Canadian system with its delays and denials.) And lastly, 5. We need to be secure in our rewards and secure in our person. (The failure to secure rewards for value creation has doomed socialism every time through out history. Socialism is Pollyanna that always results in sharing misery as value creation is just about extinguished. I am going to work hard to create value for everyone but me? B.S. That isn’t going to make it up the hill and neither will Bernie! In the long run, income inequality is the inequality of value creation. Those who deny this are too lazy, too stupid, and want to steal someone else's fruits of labor and do not have the guts to persevere.)
#17
Lightengine, you've nailed it, but I doubt you'll get much agreement from anyone here:).
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I wholeheartedly agree that the progressive economic strategy is better for the US in many ways and I agree with 98% of what Bernie is for (I don't think higher education should be free for all for many reasons, although it should be free to those who cannot afford it, and that conclusion comes after teaching in the University system in both smaller public schools and major "ivy-league" schools for over 25 years). But my main, nagging concern, is that Bernie seems to be building his process towards success in implementing these programs based on having a revolution of people standing with him to show Congress that they have no choice but to go along with him. I may be oversimplifying, but I've heard him make that response when the "how" question comes up. First of all, that is an extremely tenuous platform on which to build your presidency. I fear that Americans will too quickcly lose the spark of revolution when things start getting rough and Bernie has to start making some concessions. Will they be there in a year when the energy of the election and the day-to-day of running the government has become boring and possibly difficult? Will they be there at the mid-term in the same quantity when Bernie will need them to elect a majority in the house? I just don't see it happening, and history has shown that it won't. Obama could have gotten far more done if his followers hadn't started to distance themselves from him when things got difficult and he had to make some compromises - resulting in our losing the house and senate. I think if he had felt peole were still behind him he would have done much more and pushed much farther. Look how much more he is doing in his last years when he doesn't have to worry about whether people are behind him. Revolutions are great and exciting and START change - Obama started the revolution as far as I'm concerned. But the evolution of revolution is actually very slow and takes a great deal of hard work and unwavering tenacity. Unfortunately, most people think that change should happen immediately or they move on to the next "revolutionary". That's why I think Hillary will be far more successful - and I also think her approach to the same ends will give us lasting change that won't be "repealed and replaced" with the first Republican president and congress. She's fought the big battles before and, as much as we may not like it, there is a process and "game" to getting things done - in any organization. To come into the presidency with not only unusually major changes planned - all good changes - but to also want to do it by relying on the support of the people to stand by you and somewhat thwarting the process seems too good to be true.