Friday, December 3, 2010

Robert Reich is he right?

Is the TEA party the reactionary independent party that Reich warned us about in his book "The After-Shock"?

Can we as he optimistically believes rise above our self interest and make the necessary changes in our economic system that he proposes such as
  1. extend EITC for those not traditionally thought of needing them. His proposed for example $15K for those making between $20K to 30K and 10K for those making between $30 to 40K a year and $5K for those making $40 to 50 K a year.
  2. Step back to the tax status that made us a economic power house from 1946 to 1975 where the ultra rich carry a tax burden more proportionally to their income
  3. stop giving tax breaks on capital gains and treat it as income to be taxed.
  4. Get rid of our current unemployment insurance and instead create a employment insurance that would would cover you better should you be laid off and by subsiding you should you find yourself taking a lower paid job until such time as your income came up to 90% of your previous pay rate. Thereby encouraging the unemployed to take a lower paying jobs.
  5. Create a real Carbon Tax that would begin at the point of entry or source and would increase annually to encourage greater conservation and investment in renewable resources. This he admits would increase fuel cost by a minimum of $1 per gallon at the fuel pumps and $0.06 per kilowatt hour for our electricity yet would have side effects of improving our environment and put more emphasis on better mass transit systems. 
  6. Make Medicare available for all as more cost efficient than the current system of for profit health care. States that the new legislation is a insufficient start and does not do any real changes due to health insurance and pharmaceutical companies influence. Instead it should be a public option available to all. States that cost of running medicare is 2% of it's cost while private insurance programs looms at 30% of cost. Mentions that right now 45 million people are uninsured. Of which reader I am one of them. That polls by the Wall Street Journal and NBC show 76% people are in favor of such action.
  7. Change the way we look at education and fiance that education through the use of school vouchers, charter schools for K thru 12 and improving the pre k educations. Change the way we look at staying educated or current in the work place. Make it easier for someone who has become unemployed due to industry changes to be retrained. Change the way we repay student loans so that people our encouraged to take on what has been traditionally underpaid profession in  social services and education.
  8. Change the way we fiance and run political campaigns. by one to put into a blind trust any contributions to a candidate so that he will not be influence in anyway legislation that might be of importance to that contributor. This is a great ideal. Also increase the public contribution to a dollar per dollar amount.
  9. increase the money we invest in public goods such as museum, parks, community centers, public insitution anything that gives people a sense of ownership and stop the fees that so often stop people from using these facilities.
The ideals presented by Reich has one basic premise and that to stop from happening such things as the TEA party come to fruit.  To initiate changes for basically redistribution of wealth. Not so much as to take from the wealth but rather to increase a more level playing field.

He goes on to say that he believe in the near future as the economy continues to stagnate the very hedge fund/bank CEO and major corporate players will see this for their self and will put their influence to bear. No so much because they want to but because not to will only lead to stagnation of their profitability.Better to give up a dollar to make two. For it was the working  middle class that created this nation wealth thru their ability to afford to buy what they were producing. Failure to not be able to as they are not now able will lead to even more layoffs and a shrinking economy.

I ask if Robert Reich is right in his book "After-Shock" both his analysis and in his steps for a cure. Well for me hs is. I do and will suggest you read this short 147 page manifesto. I say manifesto because I believe that is what it should become .

In 1944 Franklin D. Roosevelt proposed a middle class bill of rights. I think it is time we re-examine his proposal.

Aftert Words

Take a moment and read Reich's blog post for this Friday the 3rd

No comments:

Post a Comment