The FOXNews of budget agreements. That’s the best description of the debt ceiling compromise passed by the House yesterday and by the Senate today.
No matter how many times FOXNews calls itself “fair and balanced”, the hard evidence tells the real story of slanted and faux news at the Murdoch network.
The same PR charade was used by President Obama to sell the bi-partisan compromise on lifting the debt ceiling. All his talk of a balanced approach that called for shared sacrifice for all turned out to be the equivalent of the “fair and balanced” FOXNews mantra.
The $1 trillion immediate deficit reduction in the agreement is all spending cuts. We’re told that the “balanced and shared sacrifice” part of deficit reduction will come from the special joint committee to be established to shave off another $1.5 trillion from the deficit. Don’t hold your breath.
The wealthy and multinational corporations have a firm grip on both parties (especially the Republicans) in Congress and the President. The big campaign contributions and highly paid Washington lobbyists will make sure that we don’t close the abuse of offshore tax havens by multinationals that will cost us $1 trillion in lost revenue over the next 10 years. Another $700 billion over the next decade will be lost because we won’t ask the wealthiest in the country to simply pay the same level of taxes from the 90’s (the last time we had a balanced budget).
And while the wealthiest Americans and multinational corporations are required to sacrifice, the rest of us, small businesses and our whole economy will feel the pain of our sacrifice.
I spoke with Christian Dorsey of the Economic Policy Institute yesterday. His organization projects that just with the first $1 trillion in spending cuts our nation will lose up to 2 million jobs over several years. The reason—unemployment benefits won’t be extended and the payroll tax holiday will end. That will mean a lot less money flowing into the pockets of consumers who will then spend less. Less consumer spending means hard times for small businesses and fewer jobs.
Add another $1.5 trillion in spending cuts according to this deal and here comes another recession. The wealthy will survive just fine and so will the multinational corporations. The rest of us—not so much.
Showing posts with label mulit-national corporations. Show all posts
Showing posts with label mulit-national corporations. Show all posts
Tuesday, August 2, 2011
Fair and balanced???
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Thursday, February 17, 2011
Egypt: A warning for U.S. democracy
The below opinion editorial by SCSBCC president Frank Knapp, Jr. ran in the Augusta Free Press, The Ellis County Press (TX), Manufacturing Digest, NJ Today.
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Make no mistake about it – the peaceful Egyptian revolution was brought about by the workers and small business owners of that country protesting together. They want economic opportunity for all and a democratically elected government that puts its peoples’ interests above the interests of the financially powerful, well-connected oligarchy.
Our government structures are becoming ever more influenced by those with extremely deep pockets at the expense of our citizens and small businesses. And while we have a tradition of a democratic election process to address needed changes in our government, that process is becoming less and less democratic.
This important issue was the topic of many meetings on my recent trip to Washington – reducing the extraordinary influence of big corporate money in our government. Last year’s Citizens United Supreme Court ruling that corporations are “people” that have a Constitutional right to spend unlimited amounts of money to influence elections has moved our country rapidly down the road to a far less democratic nation – a road we were already on.
Our government “of the people, by the people and for the people” is in jeopardy of becoming “of the corporations, by the corporations and for the corporations.” Real “people” will only be pawns to be manipulated when corporate money totally dominates our elections. Already we’ve seen how corporate lobbyists dominate the legislative process.
Small businesses are and should be very concerned. We know that big U.S. and multi-national corporations are only interested in profits regardless of the consequence to small businesses.
The fact is that what is good for big business is often not good for small business.
Right now in Washington big corporate campaign donors are pushing:
Fortunately, citizens and small businesses across this country are organizing to take back our democracy from these corporate “persons.” We understand that what the Egyptians are demonstrating to get, we are on the verge of losing.
So while our members of Congress publicly express their support for the Egyptian peoples’ desire for real democracy, they need to look at the direction our own country is heading and start listening to the concerns of our citizens and small businesses.
Egypt is a warning to the United States.
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Egypt: A warning for U.S. Democracy
By Frank Knapp, Jr.
Make no mistake about it – the peaceful Egyptian revolution was brought about by the workers and small business owners of that country protesting together. They want economic opportunity for all and a democratically elected government that puts its peoples’ interests above the interests of the financially powerful, well-connected oligarchy.
There is a lesson here for our country.
Our government structures are becoming ever more influenced by those with extremely deep pockets at the expense of our citizens and small businesses. And while we have a tradition of a democratic election process to address needed changes in our government, that process is becoming less and less democratic.
This important issue was the topic of many meetings on my recent trip to Washington – reducing the extraordinary influence of big corporate money in our government. Last year’s Citizens United Supreme Court ruling that corporations are “people” that have a Constitutional right to spend unlimited amounts of money to influence elections has moved our country rapidly down the road to a far less democratic nation – a road we were already on.
Our government “of the people, by the people and for the people” is in jeopardy of becoming “of the corporations, by the corporations and for the corporations.” Real “people” will only be pawns to be manipulated when corporate money totally dominates our elections. Already we’ve seen how corporate lobbyists dominate the legislative process.
Small businesses are and should be very concerned. We know that big U.S. and multi-national corporations are only interested in profits regardless of the consequence to small businesses.
The fact is that what is good for big business is often not good for small business.
That is exactly the reason The South Carolina Small Business Chamber of Commerce was founded over 10 years ago. Small businesses must fight for ourselves and not simply rely on paternalistic big businesses to allow scraps to fall off the bountiful table they have bought for themselves.
Right now in Washington big corporate campaign donors are pushing:
- for even more tax incentives for offshoring production and jobs – lost opportunities for small businesses to supply goods and services to domestic manufacturing and fewer workers buying from our local small businesses.
- to eliminate regulations aimed at protecting us from another financial meltdown causing another great recession – one that destroys the customers base, credit and loans small businesses need to survive.
- to cripple any chance for comprehensive national energy and climate legislation – a significant opportunity for jumpstarting a green economy that will both create new small businesses and offer more opportunities for existing ones.
These and other goals of big corporations, many that now have no allegiance to our country or any country, are likely to be successful not on the merits of the ideas but on the size of the corporate campaign chests.
Fortunately, citizens and small businesses across this country are organizing to take back our democracy from these corporate “persons.” We understand that what the Egyptians are demonstrating to get, we are on the verge of losing.
So while our members of Congress publicly express their support for the Egyptian peoples’ desire for real democracy, they need to look at the direction our own country is heading and start listening to the concerns of our citizens and small businesses.
Egypt is a warning to the United States.
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Frank Knapp Jr. is president and CEO of The South Carolina Small Business Chamber of Commerce.
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