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The Non Zero-Sum Society: How the Rich Are Destroying the US Economy

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And why Walmart, McDonald’s and every hospital in the country should be unionized

As President Obama said in his inaugural address last week, America “cannot succeed when a shrinking few do very well and a growing many barely make it.”

Yet that continues to be the direction we’re heading in.

A newly-released analysis by the Economic Policy Institute shows that the super-rich have done well in the economic recovery while almost everyone else has done badly. The top 1 percent of earners’ real wages grew 8.2 percent from 2009 to 2011, yet the real annual wages of Americans in the bottom 90 percent have continued to decline in the recovery, eroding by 1.2 percent between 2009 and 2011.

In other words, we’re back to the widening inequality we had before the debt bubble burst in 2008 and the economy crashed.   [Read more…]

Wall Street: From Too Big to Fail to Too Big to Jail

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After the financial meltdown of 2008, the Bush administration shoveled tons of money into Wall Street as did the Federal Reserve. TARP, the Troubed Asset Relief Program, was a $700 billion carte blanche gift to Wall Street to prevent an imminent meltdown. This was engineered by Henry Paulson, Bush’s Treasury Secretary.

But that was miniscule compared to what the Fed ponied up. A lawsuit by Bloomberg News forced the Fed to reveal that it had given $7.7 trillion to banks all over the world to prevent the looming crisis. And the Fed is still at it with its policy of Quantitative Easing (QE).

But while the banks have been bailed out and are still being given monthly money cards, they have not been held to account for the behavior that caused the financial crisis in the first place. No banker has gone to jail despite the massive fraud and corruption that they perpetrated and in fact are still perpetrating.   [Read more…]

Reporting Factory Farm Abuses to be Considered ‘Act of Terrorism’ If New Laws Pass

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By Katherine Paul and Ronnie Cummins / Alternet

How do you keep consumers in the dark about the horrors of factory farms? By making it an “act of terrorism” for anyone to investigate animal cruelty, food safety or environmental violations on the corporate-controlled farms that produce the bulk of our meat, eggs and dairy products.

And who better to write the Animal and Ecological Terrorism Act, designed to protect Big Ag and Big Energy, than the lawyers on the Energy, Environment and Agriculture Task Force at the corporate-funded and infamous American Legislative Exchange Council (ALEC).

New Hampshire, Wyoming and Nebraska are the latest states to introduce Ag-Gag laws aimed at preventing employees, journalists or activists from exposing illegal or unethical practices on factory farms. Lawmakers in 10 other states introduced similar bills in 2011-2012. The laws passed in three of those states: Missouri, Iowa and Utah. But consumer and animal-welfare activists prevented the laws from passing in Florida, Illinois, Indiana, Minnesota, Nebraska, New York and Tennessee.   [Read more…]

The Starting Line – California Tobacco Taxes on the Agenda for 2014

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A group that includes Ca. Lt. Governor Gavin Newsom is backing an initiative for the mid-term elections to add $1 per pack to the state tobacco tax, and use the money for college scholarships and financial aid.

An early version of the initiative filed last month indicates revenues with be directed exclusively through the California Student Aid Commission. Monies, as much a $750 in its first year, would be kept separate from the state’s general fund.

Supporters of the tax are optimistic about their chances, pointing out the relatively low level of the existing tax, the narrow margin of the vote on Proposition 29 in 2012, and the fact this measure will avoid a fight not over bureaucracy and research by channeling the proceeds to college tuitions.

Inside: More Gunnutia, Earth Day Update, Corruption on Wall Street….   [Read more…]

CEQA Reform and Transit Planning

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by Robert Cruickshank/California High Speed Rail Blog

Last Saturday the Planning and Conservation League held a daylong symposium on the California Environmental Quality Act. Coming amidst a concerted effort to reform the 43-year old law, the PCL wanted to use the day as an opportunity to rally progressives and environmentalists to defend the status quo and oppose any changes to CEQA. However, the day’s discussions revealed a series of divisions among the ostensible allies regarding CEQA’s future. While the PCL wants to frame the debate as one of heroic environmental and community advocates resisting evil oil companies and sprawlmongers who want to destroy environmental protections, the reality is far more complex.

  [Read more…]

California Budget Outlook Brightens Considerably, Despite Laments of Phil Mickelson

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Professional golfer cites California tax policy as cause for dire outlook for his personal finances despite tens of millions in earnings.

A Monday story in the UT-San Diego told an interesting tale of the hardships faced by professional athletes living in California. These poor guys just don’t make enough money to survive, it seems, because the state and federal governments are taxing them to death!

I kid, of course, but apparently the passage of Prop 30 in last November’s election is enough to make some of California’s wealthier residents consider looking for someplace else to call home. Phil Mickelson, one of the world’s top professional golfers and a San Diego native—and local hero the stature of Tony Gwynn and the late Junior Seau—lamented in a press gaggle at a tournament in Palm Springs over the weekend that he was going to have to make some “drastic changes” in his lifestyle because of the way his rate of taxation is going up. He even decided to drop his bid to become part of the ownership group that recently purchased the San Diego Padres.

But revenues in the State of California had to be increased, and the voters spoke loud and clear when they decided to not only raise the marginal tax rates on the wealthiest state residents, but to raise the state sales tax, effectively spreading the pain to EVERYONE in the state, among other measures.   [Read more…]

I’m Supposed to Feel Sorry for Phil Mickelson?

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I think I must have arrived in “pity poor me” land without the benefit of a ticket. In channel surfing a few moments ago, I was appalled at all the people interviewed that are feeling sorry for Mr. Mickelson, a multi-millionaire that may have to leave California because he feels “targeted” by higher taxes being foisted on the 2% of Americans and he may have to change his life-style. Excuse me while I go puke. Is he saying that if he makes an endorsement for a product and is paid ten million dollars that he will only be able to keep $3.7 million? (I suspect that figure is incorrect but even so….how many people earn that amount of money in their life-time?)

According to Forbes, he is the 7th highest paid athlete in the world, with a salary topping $4.8 million dollars and winnings and endorsements totaling over $43 million.

What an obscene statement to make that he will have to change his life style. What? Will he have to start riding the bus?   [Read more…]

Congressional Hypocrites Add $77 Billion of Pork to Deficit Reduction Bill

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The most important thing to Republicans is deficit reduction. It’s the chief thing they talk about. It’s their main concern, it’s their singular issue. Right?

Right…. Then why did they vote to add $77 billion in pork to the so-called ‘fiscal cliff’ bill? But don’t get me wrong – Democrats not only voted for it but were instrumental in adding it to the bill as well. But why were the American people kept in the dark and not told that this bill like a lot of others was all about the pork?

It’s not that this bill was not discussed at great length by the punditry. Bloviators were bloviating non-stop for months. Pontificators were pontificating full time. Purveyors of bovine excrement were shoveling constantly. But no one saw it coming. Not David Gregory of Meet the Press, not Bob Schieffer of Face the Nation, not Ed Schultz or Rachel Maddow of msnbc. It’s not like pork is a recent phenomena. But it takes sheer gall to add $77 billion in tax break loopholes for the rich to a deficit reduction bill!   [Read more…]

Monsanto’s Earnings Nearly Double as They Create a Farming Monopoly

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By Charlotte Silver / Al Jazeera / Alternet

Last week Monsanto  announced staggering profits from 2012 to celebratory shareholders while American farmers filed into Washington, DC to challenge the Biotech giant’s right to sue farmers whose fields have become contaminated with Monsanto’s seeds. On January 10 oral arguments began before the U.S. Court of Appeals to decide whether to reverse the cases’ dismissal last February.

Monsanto’s earnings nearly doubled analysts’ projections and its total revenue reached $2.94bn at the end of 2012. The increased price of Roundup herbicide, continued market domination in the United States and, perhaps most significant, expanded markets in Latin America are all contributing factors to Monsanto’s booming business.   [Read more…]

Filner Throws Cold Water Over San Diego Budget Surplus Expectations

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Mayor Sanders’ $12 million budget surplus projection did not account for looming realities.

Last year Jerry Sanders stood in front of the cameras and gave us a bit of great news: After years of crippling budget deficits, the City of San Diego would be running a $12 million budget surplus in 2014. Our problems are solved! All Hail Jerry Sanders, the savior of San Diego!

Filner, on Tuesday night, took the wind right out of those sails. He said those projected budget surpluses could actually be as much as a $40 million budget deficit, despite all of the austerity measures enacted during the Sanders administration.

Yeah, sure, we’ve heard all this before from Filner. But this was different. This was no longer a campaign talking point or rhetoric. He’s now the mayor, and this was the State of the City Address. This was for real.

Although he never mentioned Sanders by name, he accused his predecessor of some shady accounting tricks in order to protect his mayoral legacy; of fudging the numbers so that he could say he left behind the first budget surplus in recent memory. Filner accused Sanders of deliberately misleading San Diego taxpayers.   [Read more…]

Extreme Weather Watch: 2012 Was Warmest Year Ever For US

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The average temperature for 2012 was 55.3 degrees Fahrenheit, 3.2 degrees above normal and a full degree higher than the previous warmest year recorded — 1998 — NOAA said in a recent report. All 48 states in the contiguous U.S. had above-average annual temperatures last year, including 19 that broke annual records, from Connecticut through Utah.

It was also a historic year for “extreme” weather, scientists with the federal agency said. With 11 disasters that surpassed $1 billion in losses, including Superstorm Sandy, Hurricane Isaac, and tornadoes across the Great Plains, Texas, and the Southeast and OhioValley, NOAA said 2012 was second only to 1998 in the agency’s “extreme” weather index. However, the dollar costs may well indeed pass the 1998 level because of the severity of the events.

The average temperature for the US was 55.3 degrees, one full degree hotter than the previous record in 1998 and 3.2 degrees hotter than the 20th century average. Nineteen states — including Texas, New York, Ohio and Oklahoma — had their highest annual average temperatures on record; 26 others had years that ranked in the top-10 hottest ever.   [Read more…]

Riding the Rails in the West – the State of Amtrak – Part 2

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One Zephyr too soon –

By JEC / Special to San Diego Free Press

News item, December 26th, China debuts the longest bullet train in the world. From Beijing to Guangzhou a distance of 1,428 miles, the ‘new’ train will serve 35 cities and cover the distance in under 10 hours, averaging speeds of 186 mph. The old train, the shame of Wuhan took almost 24 hours to cover the 1,428 miles. Hold the phone – the bad old train served the same 35 cities covering the 1,428 miles in less than 24 hours at an average speed of 60 mph. If we only had it so good.

Amtrak’s Premier West Coast train, the Coast Starlight is very similar; 1,377 miles from LA to Seattle with 30 stops in between. But it takes the Starlight over 34 hours, making an average speed of only 40.1 mph. If the Coast Starlight could match the old average speed of China’s Beijing to Guangzhou train of 60 mph, the trip would take less than 23 hours.   [Read more…]

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