What Bernie Sanders Has Already Won

When Sen. Bernie Sanders initially began running for president, his hope was to “trigger the conversation” about the way the economic and political system is rigged by the billionaires and their corporations. He wanted to begin a movement around a vision of how the country could be run for We the People instead of a few billionaires and their giant corporations, and give that movement momentum.

That was the idea; start a movement out of a campaign that could get a “for-the-people” message out. All the people he brought in would take it from there.

The arguments that would prompt Sanders to contemplate not running were clear and compelling. Sanders wasn’t going to be getting the huge-dollar donations that keep so many other candidates going. He might not be able to get the resources to travel to and have rallies in enough of the primary states to be heard at all, and might not meet the threshold for getting into the presidential primary debates. The risk was that he might get whipped so badly that people would for decades run from the idea of running for office on Sanders’ progressive themes.

Nonetheless, Sanders decided to run and spoke his message. Then BANG, look what started happening. On the first day after announcing his campaign he raised $1.5 million in small-donor campaign donations. In just two months he raised $15 million.

BANG! What Sanders didn’t know was that he was bringing a match to a gasoline convention. With huge rallies and huge enthusiasm, in just a short time he is leading (as of Friday) in two out of three recent polls in New Hampshire, the only state other than Vermont where he has real name recognition.

Suddenly the game has shifted. People realized that Sanders is more than a fringe candidate. He could plausibly win the nomination.

But as we talk about Sanders “winning,” here is the thing: He HAS won.

Nobody expected to be actually talking about him being the nominee and all that. But whether he is or not, the discussion Sanders wanted HAS been triggered, and an amazing list of supporters now exists. Now there is the hope that he and we can build a movement out of it that lasts past this election.

Regardless of the Democratic nominee, we will all need to work on making sure an anti-immigrant, anti-Social Security, pro-billionaire, pro-hate candidate doesn’t get elected president and destroy the country. Look back at the ‘W’ Bush legacy of a country almost destroyed. Financial collapse, war, how many lives gone? This new “Trump” GOP is now much, much worse than the Bush era – regardless of which billionaire-backed (or billionaire) candidate they nominate.

Meanwhile, a progressive populist uprising is also happening in the United Kingdom, with Jeremy Corbyn running to lead the Labour Party. The Labour party had drifted so far to the right that they apologized for spending money on public needs and are supporting austerity measures. Corbyn says that the UK needs to go back to being the real Labour party, and has called for renationalizing the railroads, energy companies and other privatized services so the people benefit instead of thew already-wealthy few. Then – BANG! – he went to the top of the polls. So many people (lots of them young) started signing up to join the Labour Party that the Tony Blair wing of the party is trying to stop new people from being allowed to join! What’s being called “feeling the Bern,” and the establishment reaction, is not just a U.S. phenomenon.

On one level, at least, Bernie Sanders has already won. Fixing our country’s problems is not just about electing a president. Billionaire money has taken over many statehouses – where they gerrymander the districts to keep themselves in power. Sanders likes to say that there are two primary sources of power, “organized people and organized money,” and that when people across lines of race, gender, class, nationality, and sexual orientation reject right-wing wedge politics and come together, “there is nothing, nothing, nothing that we cannot accomplish.”

Irrespective of the results of the primaries, We the People need to take it from here.

—-

This post originally appeared at Campaign for America’s Future (CAF) at their Blog for OurFuture. I am a Fellow with CAF. Sign up here for the CAF daily summary and/or for the Progress Breakfast.

Trump: Don’t Make Corporations Pay Their Taxes

Republican economics has been stated a thousand ways by a thousand (always paid) voices. But the basic idea behind all the schemes has been hard to pin down. Finally Republican front-runner Donald Trump has spelled it out in a way anyone can understand.

Thursday’s Progressive Breakfast (you should subscribe, it’s free, it’s really good) contains a story in which Trump clearly articulates the Republican/Billionaire/Wall Street case for a low-or-zero tax on corporate profits: “because they don’t want to pay the tax.”

Trump Sides With Multinationals
Donald Trump backs repatriation in Time interview: “Pfizer is talking about moving to Ireland. Or someplace else … Do you know how big that is? It would wipe out New Jersey … They have $2.5 trillion sitting out of the country that they can’t get back because they don’t want to pay the tax. Nor would I … We should let them back in. Everybody. Even if you paid nothing it would be a good deal. Because they’ll take that money then and use it for other things. But they’ll pay something. Ten percent, they’ll pay something.”

There it is in a nutshell. The Republican case for low or no taxes: “because they don’t want to pay the tax.”

Continue reading

Bernie Sanders Proposes To Boost Worker-Ownership Of Companies

Businesses are run for a profit that goes into the pockets of the business’ “investors.” To be an investor requires that you have money. This is a rigged system that by definition channels the returns and gains of our economy to the people who have money in the first place.

That system forces a terrible business model: investors try to squeeze money out of businesses as fast as they can. Then they move on. People who put the money in have even more money, but leave behind them a trail of squeezed-out ruin. This squeezing of the business involves squeezing the workers, squeezing the product, squeezing the customers and squeezing the government out of any taxes that might be owed.

This is bad for America’s long-term economy, people, environment and — since it brings about intense concentration of wealth — bad for our democracy, too. But hey, it’s great for a few already-wealthy people at the top.

Continue reading

Tobacco “Carve-Out” Dispute Tells Us What We Need To Know About TPP

Administration officials are desperately trying to wrap-up Trans-Pacific Partnership (TPP) negotiations in the next few days or so. If they can get it done right now, it enables a timeline for pushing it through Congress by the end of the year — before the public can rally opposition, and before the Presidential campaign season could bring heightened attention to the deal.

Continue reading

Did Obama Administration Downplay Malaysia Slavery To Grease Trade Deal?

“Pope Francis says when the economy controls politics both lose … When economics takes over we tolerate anything for the sake of the dollar.”
– Sister Simone Campbell

Cheap labor is the whole point of our corporate-rigged, NAFTA-style trade agreements. Companies get to move jobs, factories, even entire industries out of the U.S. to countries where people are exploited, the environment is not protected and “costs” like human safety are kept low.

But even so … tolerating slavery? Flat-out slavery? Really? Unfortunately, it looks like that’s what is happening with fast-track trade promotion authority, The Trans-Pacific Partnership (TPP) and the Obama administration.

Continue reading

Next Big One: Repatriation Tax Holiday Giveaway To Corporations

Here comes the next big one. Now that the corporations have fast-track trade authority in the bag, they are trying to push a huge, huge tax giveaway through Congress. We have to get the word out so this doesn’t just sneak through. We can’t let them continue to rig the system against us like this.

Up To $770 Billion Is Owed On $2.2 Trillion In Corporate Profits Stashed In Tax Havens

You might have heard about all that money the giant corporations have been stashing in tax havens so they can dodge paying their taxes. You might not have heard how much they owe us. Corporations have somewhere around $2.2 billion of “offshore” profits stashed in tax havens. They owe up to 35 percent in taxes on that money. That’s right; they owe up to $770 billion that We the People could have right now for our roads, schools, health care, scientific research, space exploration, to forgive student debt … we could have free college tuition, expand Social Security, high-speed rail across the country…. Instead, we’re told we can’t have these things because there are “budget deficits.”

And on top of that, at least another $50 billion per year of tax money is kept from us because of this scam.

Congress could just tell these corporations to pay up, and We the People would have up to $770 billion to use to make our lives better, and another $50 billion or more each year.

See if you can guess what Congress is getting ready to do instead?

Tax Holiday

Right now the giant, multinational corporations owe up to $770 billion in taxes on the $2.2 trillion they are holding outside the country in tax-haven mailbox subsidiaries. Right now. They have the cash in the bank (in tax-haven countries) and could write checks tomorrow if Congress told them to. Again, this is taxes they already owe but haven’t paid. Think of the things our country could do with that money.

But instead …

Congress is proposing to give these companies a tax holiday and let them off from paying the taxes they already owe on that money. There is all kinds of complicated language being used to mask what is happening, but it’s really simple: Some members of Congress are proposing letting them off from the taxes they already owe on “offshore” profits, and then letting them off from paying taxes on future profits made “outside the country” from now on.

For example, the Charles Schumer-Rob Portman bill in the Senate will tax this money (on which 35 percent is already owed), “at a rate significantly lower than the statutory corporate rate.” And then it will cut tax rates on future “offshore” profits forever.

Quick question: For years these companies have been moving jobs, production and profit centers out of the country to take advantage of this tax dodge. If they are rewarded for this with this huge tax cut, how many more companies will move jobs, production and profit centers out of the country from now on? Bonus question: Will there be any jobs, production or profit centers left inside the U.S. if Congress lets companies off the hook from taxes on profits made from moving jobs, production and profits centers out of the country?

Don’t Let this Sneak Past Us

The corporations and billionaires count on these things sneaking through under cover of complicated language, so we never find out what is happening to us. Later they tell us “we’re broke” and there is no way to “pay for” things like roads, schools, and other needs. They tell us we have “deficits” that could “bankrupt” us, so college tuition has to go up, we have to pay to use toll roads, they have to cut funding for schools, we can’t have high-speed rail, they can’t afford to do scientific research or space exploration or fight global warming or fix up national parks, and so on.

But what is really going on is the game is being rigged. Corporations get huge tax breaks and subsidies, a few billionaires and plutocrats get the cash, and We the People, the 99 percent, have to make up the difference.

We need to get the word out about this. This is the next big one they are trying to slip through before we know what is happening to us.

We have to fight this. We have to make noise. Even if we don’t win this, at least we will know what happened this time. Then, later, when they come back and say there’s no money to do things that make our lives better, we will be able to see through the smokescreen. We will know where the money went, and eventually enough people will understand how the game is being rigged – and stop it.

Congress should tell the giant, multinational corporations that it is time to pay the taxes the already owe on “offshore” profits. They should not reward companies for moving jobs, production and profit centers out of our country.

—-

This post originally appeared at Campaign for America’s Future (CAF) at their Blog for OurFuture. I am a Fellow with CAF. Sign up here for the CAF daily summary and/or for the Progress Breakfast.

Help Save Our Public Postal Service

The Grand Alliance to Save Our Public Postal Service is calling for support of two House resolutions that urge restoration of overnight mail service standards and a continuation of six-day delivery.

The alliance consists of more than 70 national organizations. The coalition is asking people to contact members of Congress in support of House Resolutions 54 and 12. H. Res. 54, from Reps. David McKinley (R-W.Va) and Paul Tonko (D-N.Y.), expresses the sense of the House of Representatives that the U.S. Postal Service “should take all appropriate measures to restore service standards in effect as of July 1, 2012.” H. Res. 12, from Reps. Sam Graves (R-MO) and Gerry Connolly (D-VA), says that the USPS “should take all appropriate measures to ensure the continuation of its six-day mail delivery service.”

These resolutions are in response to a new attempt to manufacture a crisis in postal delivery.

How To Manufacture An Anti-Government “Crisis”

If you can manufacture the idea that there is a crisis going on, it makes it easier to get people to go along with the “solutions” you want to push. (See: Doctrine, Shock, disaster capitalism.)

Continue reading

Enormous, Humongous May Trade Deficit Slows Economy

The U.S. Census Bureau reported Tuesday that the May goods and services trade deficit was an enormous, humongous $40.9 billion, up a bit from an enormous, humongous $40.7 billion in April.

Our enormous, humongous trade deficit is a measure of how many jobs, factories, companies and industries we are losing to our pro-Wall Street trade policies. A trade deficit drains our economy of wealth, jobs and future economic opportunity.

Continue reading

Was Greece Lured Into “Strategic Deficits”?

The job of a lender is to evaluate risk and price a loan accordingly. If there is risk you charge a higher interest rate. That way you still make money on a broad portfolio of loans even when there are a few defaults.

That’s the job of a banker, supposedly. It’s what they are supposed to be good at. If they are bad at their job, give loans to deadbeats (or countries that can’t pay you back) you lose money, and probably shouldn’t in the business of being a lender.

The lender is supposed to evaluate the risk and say no if the borrower is irresponsible, not complain later about the borrower being irresponsible.

Unless their job is to get the borrower in over their head so you can get stuff. As in “Confessions of an Economic Hit Man.” In that case you try to get governments to borrow, you even bribe the leaders of governments to borrow like crazy so you can later control whoever is then in charge. From “Confessions of an Economic Hit Man“:

We are an elite group of men and women who utilize international financial organizations to foment conditions that make other nations subservient to the corporatocracy running our biggest corporations, our government, and our banks. Like our counterparts in the Mafia, EHMs provide favors. These take the form of loans to develop infrastructure – electric generating plants, highways, ports, airports, or industrial parks.

… Despite the fact that the money is returned almost immediately to corporations that are members of the corporatocracy (the creditor), the recipient country is required to pay it all back, principal plus interest. If an EHM is completely successful, the loans are so large that the debtor is forced to default on its payments after a few years. When this happens, then like the Mafia we demand our pound of flesh.

Former president Ronald Reagan, for example, said he was trying to run up the borrowing in order to force the government to cut back on things it does to make our lives better. He cut taxes, increased military spending, a strategy called “strategic deficits.” (Google that.)

Later we had budget surpluses under Clinton. Then Federal Reserve chairman Alan Greenspan complained that the government was paying off the debt too fast. Then “W” Bush cut taxes and doubled military spending and said it was “incredibly positive news” (Google that, too) that the government was going back into deficits because it would force spending cuts.

Strategic deficits. Done on purpose. Are Greece’s lenders bad at their job? Or are they good at a different job?

Atrios earlier:

“You lend money at a risk premium. Borrowers pay that risk premium for a reason. That reason is that they might stop being able to pay. Then you eat the loan.

… The banksters are supposed to be genius financial intermediaries, properly pricing risk and making loans accordingly. It seems that they aren’t very good at their jobs? I suppose it depends on whether that really is their job.”

—-

This post originally appeared at Campaign for America’s Future (CAF) at their Blog for OurFuture. I am a Fellow with CAF. Sign up here for the CAF daily summary and/or for the Progress Breakfast.

In Tax Battles, “Competitiveness” Means Coercion

Watch out for this one. With fast track trade authority done, the big corporations are now pushing for massive tax giveaways. This is another exercise of raw corporate power by the few to take what they want from the many. The corporations use complexity to get people to tune out, and their schemes are masked by smooth words like “reform” and “competitiveness,” but it is all just another grab for (even more) money and power.

There are two areas where the corporations are coming at us. The first is a blatant grab to keep somewhere up to $700 billion in tax money they already owe on “offshore” profits. The second is a push to permanently cut corporate tax rates – even more.

Taxes Owed On Offshore Profits

Multinational corporations avoid paying U.S. taxes using a “deferral” loophole. This loophole lets them dodge taxes on profits made outside of the country until they bring the profits back into the country (called “repatriation”).

Continue reading