Thursday, February 17, 2011

What's Up Wisconsin?



I applaud the working people of Wisconsin for not sitting on their bums when they are under attack.  The new Governor of Wisconsin, Scott Walker walked into his office with over 100-million dollars in surplus.  He cut some deals with his buddies and now there is over 100-million owed by the state.  He wants to take this from the public workers unions without bargaining.  These unions signed legal contracts and Walker wants to break them.  To do this with about 5 days notice and without  coming back to the table with the unions to see what can be done to make things work has sent state senators to flee over state lines.  If they aren't in the capital to vote on this, it can't be enacted.  There are only 19 republicans and they need 20 people to make a quorum..                                                                                    
People have been marching by the 10's of thousands in freezing temperatures all over the state to protest this taking of peoples rights.  The protests started on Monday and grew larger by Thursday night with no sign of going away. 
The movement is growing and Ohio and Indiana are getting in on the act as those states have also elected leaders that are proposing similar legislation. 
The whole thing about Wisconsin is that it didn't need to happen.  They entered into the new Walker administration with a budget surplus.  This is all out war against working people.  Thanks Wisconsin for showing us what America looks like when we are being turned into surfs.  You guys haven't given up, the rest of us should take notice.

3 comments:

  1. "The new Governor of Wisconsin, Scott Walker walked into his office with over 100-million dollars in surplus. He cut some deals with his buddies and now there is over 100-million owed by the state."
    What is the source on the surplus and what "deals" were made?

    Also, it's worth noting that $100 million will cover the retirement benefits for 50 public employees, assuming they retire with the usual 90% of there $100,000± salary with COLAs and lifetime medical insurance as is most often the case.

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  2. Source is Ed Schultz and Wisconsin senators.

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  3. History shows that in the US when we lower taxes on the rich and have little regulation of the banking system. we end up in a boom and bust economy. 14 years ago in 1999, the Gramm-Leach-Bliley Act was signed into law by Bill Clinton. It would have passed without his signature anyway because the republicans controlled the house and senate and this bill was a republican bill. This caused many regulations put on banks after the first republican great depression to expire. This let the banks get into the insurance and gambling business. For 14 years the rich have taken their profits and gambled on securitized mortgages put together by fraudsters, hedge funds and now commodities. They have bought and hollowed out companies and laid off workers. This made for more short term profits that were invested overseas.

    When the rich were required to pay upwards of 70 percent federal taxes on yearly income above a certain point, they instead kept that money in their businesses. They built new plants, bought more efficient trucks and machines, and even gave their good workers bonuses. We grew the largest middle class the world had ever known. Government invested in infrastructure like roads, dams, electrical grids and this grew still more commerce and business.

    Look at the historical trends in this country and you can see that a serious change in the tax code is needed to fix this problem. The current system rewards the type of behavior that creates bubbles and causes boom and bust economies. Small businesses create most of the jobs in this country but large international corporations buy politicians and write most of the laws. At least that's how its been for the last 30 years or so.

    To say that through collective bargaining that these people have created or in some way the problem here is to ignore the above facts. For years these people were doing what republicans want to do with Social Security. They were investing their retirements in the private sector through the stock market, municipal bonds and other investments in business. The banks took this money and gambled it in risky schemes through crooks. This was made possible by Gramm-Leach and Bliley and their Act that destroyed the us economy. The fed gave 9 trillion dollars to international banks and banking systems to prop up the world economy. They did not make investments in the country with this money, they did not help home owners with this money or even loan it back to business, no. They used it to pay back gambling debts and buy up businesses. Our local newspaper is majority owned by Bank of America. That should tell you why most people don't know what is really going on. The banks that were too big to fail are now bigger than they were when they failed.

    Little is left to invest the obscene profits that businesses made in 2010. It was the most profitable year for large corporations in the history of the country. They are now investing that money in buying back stock and buying commodities like food. This explains why gas and food prices are going up now and house prices and wages are going down.

    If we raise taxes on the rich, and I'm not talking anyone that makes less than a million dollars a year, it will cause those with obscene incomes to reinvest rather than see the government take all their money.
    This will start to grow the economy again and we can get back to the country that the republicans and tea party followers want to get back to. They are so fond of those great days in US history when people could afford to do what they want and start their own businesses but they have no idea how we got there.

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US Senator Joe Liberman, WTC 7 Did Not Occur