"Consider this MY warning: We won’t be silent. We will speak out. And we WILL persist." (Elizabeth Warren at the Senate confirmation hearings for Attorney General Jeff Sessions 2/8/2017.)
If we hope to save the middle class in this country, it appears we are going to have to do battle with the super-rich and corporations. Trump, who made campaign promises that sounded good to many people, now seems to be trying to push through healthcare, tax cuts and deregulation of Wall Street rules that will benefit the rich instead.
Elizabeth Warren is speaking out in her new book. If the Democrats are going to survive as a national party, they are going to have to come up with a more progressive policy that works for the people and restores the middle class, such as: single payer health care, a fair minimum wage, etc.
Chapter One: The Disappearing Middle Class
Try reading this chapter and not getting really angry at what is being done to the middle class! Unemployment figures are low, but are people able to support their families on the income they earn?
Did you realize that Walmart is the largest employer in this country? More than a million and a half workers. In 2015, Walmart made $14.69 billion in profits, yet pays such low, low wages that many of its employees have to rely on food stamps, rent assistance, Medicaid, etc. to stay out of poverty. In other words, Walmart benefits from more than $7 billion in subsidies from taxpayers for its employees. I have never thought of it in that way. Quite eye opening. So if Walmart paid their employees a decent living wage, that $7 billion could go for other needs.
And "Walmart isn't alone. Every year, employers like retailers and fast-food outlets pay wages that are so low that the rest of America ponies up a collective $153 billion to subsidize their workers." EVERY YEAR!
"Simply promising to 'Make America Great Again' won't do the trick. It's time to get serious about understanding what has gone wrong and working on a plan to fix it."
Chapter Two: A Safer Economy
Warren reviews our economy from the Great Depression onwards. Trump is going back to Reagan-era "trickle down" economics with the deregulation of Wall Street and banks--the same institutions that caused the recession of 2008.
Chapter Three: Making--and Breaking--the Middle Class
"From 1935 to 1980, most Americans shared in the new income produced. The bottom 90% received 70% of all income growth. The top 10% received 30% of all income growth." Of course, this was mostly white middle class males--most blacks, women and Jews were shut out of certain jobs and opportunities.
Then President Reagan and his 'trick-down economics' came along in 1980, with deregulation and tax cuts for big companies. Or 'voodoo economics,' as his vice president George H.W. Bush called it. Soon everyone realized this plan reduced government revenues and increased the national debt.
"The distribution of new income from 1980-2015: The bottom 90% receive 0% of all income growth and the top 10% receive 100% of all income growth."
Trickle-down economics and tax cuts for the rich have made a shambles of our educational system, infrastructure, medical research, etc. "It is time to bury the idea that tax cuts for the rich will pave the way to a bright future for everyone."
Chapter Four: The Rich and Powerful Tighten their Grip
"Big corporations and rich individuals have more influence in Washington than everyone else because they can offer politicians the ingredient that's essential to any battle for reelection: money."
"Political priorities are shaped by the perception of what problems need to be addressed, and money powerfully shapes perception."
Chapter Five: The Moment of Upheaval
Shortly after the election, Warren spoke to the AFL-CIO: "As the loyal opposition, we will fight harder, we will fight longer, and we will fight more passionately than ever for the rights of every human being in this country to be treated with respect and dignity. We will fight for economic opportunity, not just for some of our children, but for all of our children. We do not control the tools of government, but make no mistake, we know what we stand for. The sun will keep rising, and we will keep fighting--each day, every day, we will fight for the people of this country."
This is Trump 'draining the swamp': by appointing as
--Secretary of the Treasury: Steven Mnuchin, 'the Goldman Sachs executive who made a fortune after the financial crash by buying a bank and turning it into a foreclosure machine, seizing people's homes.'
--head of the National Economic Council: Gary Cohn, the president of Goldman Sachs.
(As Bill Mahler recently said, the only people he didn't hire from Goldman Sachs, is Goldman and Sachs! :)
--Secretary of State: Rex Tillerson, CEO of Exxon Mobil--a climate change denier.
--head of the Environmental Protection Agency: Scott Pruitt--another climate change denier. As attorney general of Oklahoma, he literally shut down the state's own environmental enforcement unit.
--head of the Department of Education: Betsy DeVos, who used her fortune to help undermine public schools in Michigan.
--head of the Department of Health and Human Services: Tom Price who has proposed privatizing Medicare and Medicaid and repealing the Affordable Care Act.
Not to mention Jeff Sessions as attorney general!
As the title says: "This fight is our fight." Get involved anyway you can.