Can Our Democracy Survive?

The one thing Democrats and the MAGA Party (the Republican Party no longer exists having been subsumed by Fox-fueled Trump followers) can agree on is that our democracy is under attack. However, they see vastly different threats.

The MAGAs believe, despite all evidence to the contrary, that the 2020 election was stolen from Donald Trump. While Democrats point to the January 6 insurrection and increasing laws in MAGA-controlled states that limit voting rights for MAGA opponents, that take away a woman’s right to control her own body, that prioritize the freedom to own weapons of war over the lives of children.

But I believe the division runs deeper than that. It stems from the way the leaders of the MAGA Party view democracy.

Instead of seeing democracy as a means of majority rule, I believe MAGA leaders see it as a tool that can be manipulated on behalf of the powerful and wealthy. The result is that we now have several standards of justice based on factors such as race, wealth, and privilege. We see elected officials defy the wishes of significant majorities of their constituents on universal background checks for gun purchases, red flag laws, and access to abortion. And we see them use the power of their office to threaten and punish those with whom they disagree.

As a result of the MAGA ideology, our entire economy and, at times, our government are driven by a wealthy few. The owners and investors of large, multinational corporations have been allowed to influence elections while avoiding taxes. Through their political influence, these multinationals have been deregulated. They have exported high-paying jobs. They have eliminated workers’ retirement plans and other benefits. And they have taken almost total control of entire industries through consolidation.

For much too long, we’ve had eight too-big-to-fail banks, three or four conglomerates that control most of our grain, and six companies that control most of our meat supply. The majority of pharmaceuticals sold in the US are controlled by just ten corporations. Our oil and gas industries are controlled by a few corporations and state actors that dismiss their role in the climate crisis. Likewise, our transportation, insurance, and other industries have each been captured by a few large corporations.

And, chillingly, just six corporations now own roughly 90 percent of the media that bring us the news!

At the same time, the politicians that have been bought and paid for by these corporations have cut their taxes while pushing the tax burden onto ordinary hardworking citizens. Even that has not been enough to satisfy their greed. So, they regularly offshore profits in order to extort our government into allowing them to “repatriate” their ill-gotten gains at further reduced tax rates.

Corporations’ insatiable greed has even been the primary driver of inflation. Yet they and their political lackeys have blamed it on an administration that has set about trying to curtail their power.

Understandably, many Americans are angry. But thanks to the many lies peddled by the leading cable “news” outlet and others, their anger has been misdirected. Instead of blaming the rich and powerful, they blame immigrants, the poor, and minorities.

The problem has been made worse, I believe, from the MAGAs’ Kim Jong-un-like devotion to Trump. In both cases, the followers seem to see their Dear Leaders as deities. Many MAGAs continue to believe that Trump was chosen by God. They compare him to the Messiah and pray for him to save them. And, with both Trump and Kim, the followers not only accept their leaders’ extravagant lifestyle. They celebrate it. And they contribute to it.

The only conclusion can be that the many Millennials and GenXers who have bought into the MAGA ideology, simply don’t understand the benefits of democracy. It seems they have become convinced that an autocrat – at least their autocrat – can improve their lives. That an autocrat can help them live a similar life of luxury. That, instead of the messy process of convincing others to agree with their political and religious beliefs, an autocrat can force others to agree with them by decree.

Like so many of those in pre-war Germany, they seem more interested in forcing change than preserving our government along with its freedoms. Far too many of today’s Americans lack an understanding of history or civics. And, instead of seeking truth from universities, books, and qualified experts, they turn to social media and propaganda outlets like Fox “News.” In fact, they have eschewed legitimate news sources as “enemies of the people.” They dismiss education as a waste. And they are banning books that make them uncomfortable, blissfully unaware of the comparisons to the dictators and war criminals of the past.

In doing so, they are following the path taken by unsuspecting citizens in Russia, Myanmar, Venezuela, Hungary, Turkey, Pakistan, and Iran, as well as pre-WWII Italy, Japan, and Germany. And, unless we can convince them that democracy is worth saving – that real change can only come through the ballot box – we may be headed down those same rabbit holes.

How Ronald Reagan Destroyed America.

For many Americans, Ronald Reagan was a great president who reawakened and re-energized the nation as exemplified by the “Morning in America” commercials created by some of my friends. They even credit him for ending the Cold War. But the credit more accurately belongs to Gorbachev.

To me, Reagan will always be the person who used a hostage crisis to win election and who turned Americans against their own government by portraying it as the enemy. And that’s only the beginning of his negative impact on the US.

He famously ran up deficits and tripled the national debt. He flipped the economy upside-down with his Trickle Down theory of economics leading to extreme inequality in income, wealth and opportunity. Under Reagan, we saw the end of national usury laws making it possible for national banks to evade interest rate caps leading to interest rates of 18%, 30%, 40% and more. At the same time, Reagan took away the tax deductions for interest paid by middle class and poor Americans on auto loans, credit cards and other personal loans. One result, as evidenced by a new Institute for Policy Studies Inequality briefing paper by Bob Lord, is that the taxes paid by America’s billionaires have decreased 79 percent since 1980!

Known by some as the “Father of Globalization”, Reagan’s economic and trade decisions led to the offshoring of high-paying American jobs. As he embraced multinational corporations, he attacked the labor unions – the very organizations that created our middle class by fighting for living wages, healthcare benefits and safe working environments.

The Reagan administration supercharged the era of corporate consolidations and legalized stock buybacks for corporate executives. Those decisions led to multi-million-dollar annual compensation for corporate executives, inflated stock prices, and mass layoffs of workers.

And though Reagan criticized Carter for the capture of US embassy workers in Tehran, he was responsible for the deaths of 241 Marines, sailors and soldiers who were killed on his watch after he sent them to Beirut with no plan of engagement. He waged war on the island nation of Grenada – yes, Grenada – for aligning with Cuba. He also circumvented congressional oversight by creating a shadow government that illegally sold weapons to Iran in order to finance death squads in El Salvador and Nicaragua.

And maybe Reagan’s worst decision of all was to call for the repeal of the Fairness Doctrine that led to the likes of Fox News Channel, Rush Limbaugh, Mark Levin, Sean Hannity, Alex Jones, and a host of others who have used hate, sensationalism and an avalanche of lies to divide us. I believe you can draw a direct line from that decision to Donald J. Trump and the most corrupt, conniving, inept and hateful administration in US history.

Ignore His Tweets and Taunts. Pay Attention To His Actions.

While Democrats and the media have focused on the Tweets and the taunts and the name-calling, many of the worst activities of the Trump administration have gone unnoticed. That’s because the administration seems to have borrowed a strategy from sports – especially NHL hockey. The idea is that, if you can’t win on the merits, you resort to cheating and bullying. You commit as many fouls as possible based on the theory that the referees won’t/can’t call all of them. The referees are then faced with two options: To make the game unwatchable from the constant stoppages and penalties. Or to call only the most egregious fouls.

Likewise, by burying the media, the public and Congress under an avalanche of executive orders, policy changes, unqualified presidential appointments, unjustified pardons, blatant corruption, obstruction and criminal actions, the administration seems to believe that the public will tire of the outrage and buy into the notion that the president is the victim of negative and partisan reporting.

Whatever else you can say about Donald Trump, you must admit that he is a master of the con and self-promotion. He knows how to manipulate his base and the media. Indeed, every time I see him speak, I see the narcissism of Benito Mussolini combined with the limited vocabulary and taunting of Vince McMahon and his WWE bullies. (I am quite certain that is the result of study and hours of practice in front of Trump’s favorite item – the mirror.)

Repulsed by the cartoon-like show, the majority of Americans often miss or ignore the things that are taking place behind the scenes – things that could prove fatal to our democracy.

Every single day, the administration commits more harmful and anti-democratic actions. Career public servants are replaced by unqualified family members, toadies and demagogues from the Trump propaganda network, aka Fox News. Highly partisan and unqualified judges are confirmed as a result of Mitch McConnell’s disregard for long-standing traditions and regular order. Refugees from all over the world are sent back to the dangers they tried to escape. (There are even plans to deport refugees who came here immediately following the Vietnam War.)

The constitutional protections from unreasonable search and seizures have been suspended within 100 miles of our borders – all of our borders. International laws and norms are ignored. Refugee children are traumatized by being ripped from their parents. Pollution is increased as the result of environmental deregulation. Increasingly, our lives are placed at risk by uncontrolled gun violence encouraged by Trump supporters in the NRA. Our economy and consumers are also placed at risk by the dismantling of Consumer Financial Protection Bureau regulations and the Dodd-Frank bill that was designed to prevent another financial collapse. And more people will go bankrupt or die because of the administration’s undermining of the Affordable Care Act.

Each day, the administration borrows more money from China to prop up our economy and to squander on unneeded, and often flawed, weapons systems. At the same time, it has imposed tariffs on billions of dollars of Chinese goods leading to a trade war and higher prices for American consumers. Diplomacy has been replaced by outright bullying and brinksmanship. Trump and his administration have threatened NATO members and turned their backs on trusted allies while embracing some of the world’s worst dictators.

The administration encourages violent racism and intentionally sews division to improve Trump’s chances of being reelected. Sacred Native American lands and public lands are being sold off to extraction industries. American citizens are displaced and their lives disrupted in order to build a senseless wall. Public schools, food stamps, veterans programs, fair trade, access to safe abortions, the constitutional separation of church and state, and so-called entitlements are all under attack. So, too, are our most important institutions like the press, the FBI and our Intelligence agencies.

The president and his mouthpieces commit daily assaults on the truth. The administration has forced a constitutional crisis by announcing that it will refuse to be burdened by congressional oversight. Meanwhile, the crime family in charge enriches itself with taxpayer money as it refuses to reveal its tax returns.

If the orange diKKKtator could accomplish all this while under investigation for conspiring with Russia during the 2016 election, imagine the harm he can cause now that he and his supporters falsely claim “total exoneration?” Even more frightening are the potential consequences of his re-election and the possibility of Congress being retaken by his stooges and sycophants.

Thankfully, you have the power to prevent that grim and dystopian future. Write or call your congressional representatives and demand that impeachment hearings begin immediately. Even more important, VOTE!

Tax Secrets Of The Wealthy.

Most Americans fear being audited by the IRS based on the knowledge that, if it is deemed that they have not paid their fair share, they could face penalties, garnishment of wages and/or possible imprisonment. Yet some of the wealthiest Americans and multinational corporations apparently have no such fear. It’s not enough that these people and organizations have used their wealth to lobby Congress to create a myriad of tax write-offs and corporate welfare schemes. Many find tax shelters to avoid paying taxes altogether.

According to the Financial Secrecy Index created by the Tax Justice Network, “An estimated $21 to $32 trillion of private financial wealth is located, untaxed or lightly taxed, in secrecy jurisdictions around the world.” The organization uses the term “secrecy jurisdictions” rather than the more common “tax havens” because the secrecy provided by these jurisdictions does more than aid tax avoidance. The secrecy is key to such illicit activities as fraud, money laundering, insider trading, and avoidance of regulations. Moreover, it allows the wealthy to hide their assets while forcing those less fortunate to subsidize their needs and to shoulder their nations’ resulting debt.

In other words, most of us are making up for the taxes that the wealthy refuse to pay.

Even some of those at the highest levels of the US government have taken advantage of secrecy jurisdictions. For example, in the Panama Papers (a list of the wealthy who used the services of a Panamanian law firm to set up tax shelters) Donald Trump’s name shows up 3,450 times. And, recently, The Intercept published a story revealing the use of one of the world’s most secret tax havens by Senate Majority Leader Mitch McConnell and his wife, Elaine Chao, both of whom have avoided taxes while cashing US government paychecks! Former Massachusetts governor, GOP presidential candidate and current Utah senate candidate Mitt Romney also has reportedly taken advantage of multiple tax havens.

Many of the wealthy don’t even have to send their money offshore to evade taxes. Some of the most active tax shelters are right here in the United States! As reported by The Washington Post, “Contrary to popular belief, notorious tax havens such as the Cayman Islands, Jersey and the Bahamas were far less permissive in offering the researchers shell companies than states such as Nevada, Delaware, Montana, South Dakota, Wyoming and New York…” Indeed, The Washington Post found that US regulations for setting up shell companies are more lax than any country in the world, except Kenya!

Ironically, all of this is aided by a financial industry taxpayers saved from bankruptcy after the financial crash of 2008. According to the Tax Justice Network, “A global industry has developed involving the world’s biggest banks, law practices, accounting firms and specialist providers who design and market secretive offshore structures for their tax- and law-dodging clients.”

It’s not unlikely that such tax evasion will eventually have disastrous economic consequences for the US. But, when it does, the wealthy will simply pull up roots and relocate to another country where they can resume their form of legalized larceny leaving the rest of us to clean up their mess.

An Open Letter To Congress.

Dear Senators and Congressional Representatives:

We understand that it’s hard work to win an election. There’s the fundraising, the canvassing, the fundraising, the travel, the fundraising, the public appearances, the fundraising, the baby-kissing and the butt-kissing, the fundraising, the debates, the fundraising, the media interviews, and, of course, the fundraising.

We also believe that, by electing you, we afford you a great honor – the honor of representing us in our seat of government. Given that, we should expect you to appreciate that honor and to do what you can to live up to your campaign promises. We expect you to follow in the footsteps of our Founding Fathers – people like Franklin, Hamilton, Jay, Jefferson, Madison, Monroe and Washington – to do what’s best for us and our nation.

Unfortunately, that seems to be an increasingly quaint and naive notion as evidenced by an exhaustive study by Professor Martin Gilens of Princeton University and Professor Benjamin Page of Northwestern University.

Gilens and Page collected data on your policy decisions from 1981 to 2002. Their report, “Testing Theories of American Politics: Elites, Interest Groups and Average Citizens,” concluded that economic elites (the top 1%) and business groups (lobbyists) have substantial impact on your decisions while average citizens and mass-based interest groups have little to no influence on your decisions.

In short, the professors found that our democratic republic has become an oligarchy, defined as a small group of people having control of a country or organization. But the Gilens-Page study only confirms what many of us already suspected.

For example, we have seen how members of Congress have prioritized the profits of defense contractors over the needs of our military and over reason itself. We’ve noticed how you repeatedly vote to increase weapons spending despite the fact that the Pentagon cannot account for its spending of more than $7.3 trillion, and despite the fact that our defense budget is greater than that of the next 7 countries combined (5 of which are close allies). And we suppressed our frustration as we watched you vote to require the US Army to purchase tanks and other weapons systems it no longer uses or needs.

We’re all too aware that you seem far more concerned with the profits of pharmaceutical companies and health insurance companies than with the economic and physical health of your constituents. We aren’t blind to the fact that 40 of the lawmakers in your midst held $23 million in shares of health insurance companies as they voted to take health care coverage away from millions of Americans.

We’ve seen how you passed laws prioritizing the desires of Wall Street over the needs of Main Street. For example, in 1999, you voted to deregulate banks, clearing the way for them to gamble with our deposits and pension funds. That decision led to the financial crash and Great Recession of 2008. And yet your GOP members are intent on repealing the regulations enacted to prevent such an event from ever happening again.

We’ve also observed that the majority in Congress is working to eliminate regulations designed to keep our air, water and food clean in order to improve the bottom lines for their large corporate sponsors.

Of course, we have noted that such decisions also improve your campaigns’ bottom lines. Those large corporations reward you with large amounts of money for your re-election campaigns. They pay for junkets to exotic places. They give you tickets to concerts and other galas…the kinds of gifts few ordinary voters can afford.

And though you readily do the oligarchs’ bidding, you hide from your constituents. You avoid town halls. You send letters to constituents that are based on lies. And you have the unmitigated gall to ask your constituents for their money and their support!

Here’s an idea: Instead of beginning fundraising for your re-election campaign the minute you get into office, why not just do the right thing? Why not vote for policies that will help the vast majority of your constituents? Why not vote for better schools, better health care, better roads, safer bridges, better mass transportation and cleaner energy? Why not balance the budget by raising taxes on the fortunate few and cutting taxes for those who are struggling? Why not crack down on those who avoid paying their fair share through the use of offshore tax havens? Why not open your doors to all of your constituents? Not just those with the most money to offer.

Why don’t you treat the office as though you’re in it to serve? Why not prioritize country over party and people over money?

If you do that, believe us, we’ll notice. We’ll ignore your opponents’ attack ads. We’ll contribute to your campaigns. And we will almost certainly vote for you again. And, if you lose to someone better, you can leave office with your head held high knowing that you’ve done everything you can to represent us. You can take solace in the fact that our Founders never intended for public office to become a permanent position. (They sure as hell didn’t expect our nation to become an oligarchy in the mold of Putin’s Russia!)

As reported in John Avlon’s book, Washington’s Farewell, when the father of our nation, George Washington bade farewell to public service, he warned of three things: Hyper-partisanship, excessive debt and foreign wars.

Unfortunately, our nation is now burdened with all three. You may not be personally responsible for creating those burdens. But you can be responsible for ridding us of them…if you just do the right thing.

GOP Government Setting New Standards For Corruption.

While most of the nation’s attention is focused on the immigration ban, the level of this administration’s corruption has been largely overlooked. It began even before Donald Trump took office when he became the first presidential candidate since Gerald Ford who refused to release his tax returns. As you no doubt recall, the reason given was that his returns were being audited by the IRS. But, after his election, Trump now claims that only the media are interested.

Why is he the first president in 40 years to break with tradition? Likely because his returns will show that he is not as successful as he claims and that, as many have reported, he owes a fortune to Russian oligarchs with ties to Putin.

But that is only one example of Trump’s new standard for lack of transparency.

It is now know that Trump used his campaign to funnel $14 million into his company coffers. Following his election, he refused to place his business interests into a blind trust to prevent conflicts of interest. This is important because Trump has business dealings around the globe – any one of which could violate the Constitution’s emoluments clause (Article 2, Section 1) which is cause for impeachment. Despite such concerns, immediately following the election, Trump used a phone call with the Japanese prime minister to request special handling of a hotel permit.

More worrying is the fact that Trump’s transition team tried to eliminate all Inspectors General which are responsible for investigating misconduct, waste, fraud and abuse of government procedures. The moment Trump was sworn into office (actually, it was the majority of Americans who were doing the swearing), Trump was in violation of the terms of his DC hotel lease. Eric Trump’s recent trip to Uruguay for Trump’s business interests cost taxpayers $97,830 in hotel bills (at a Trump Hotel, of course) for his accompanying security. And not to be left out, Melania’s attorneys argued as part of her libel suit against the Daily Mail that a story cost her a once in a lifetime chance to make millions in her business pursuits based on her new status as First Lady.

And the Trumps are not alone with their disregard for ethical standards.

The very first act of the new GOP-controlled Congress was to try to eliminate the independent Congressional ethics office with an early morning vote. They were stopped only when Democrats called attention to the vote and when Trump tweeted his displeasure (likely not with the action itself, but with the appearance of his complicity).

Despite reports from US intelligence agencies that Vladimir Putin interfered with our elections by ordering the hacks of the email accounts of the Democratic National Committee, the DCCC, and Hillary Clinton’s campaign manager, and by paying young adults to serve as pro-Trump social media trolls, Congress has refused to authorize a special prosecutor to investigate. In fact, they have given the reports far less attention than the multiple investigations of Benghazi. And though, Republicans were horrified by Clinton’s use of a private email server, they seem totally unconcerned that Trump’s White House advisers are using private email accounts.

Moreover, many of Trump’s cabinet nominees and White House advisers have long-time ties to Putin. Trump himself has spoken in glowing terms about Putin and has drawn parallels between Putin’s strong arm tactics and the US. There are credible reports that Trump is being blackmailed by Putin as a result of a dossier on Trump’s actions while visiting Russia. In addition, there are allegations that Igor Sechin, CEO of Russia’s state oil company, offered Trump ally Carter Page a 19 percent stake in the company in exchange for Trump’s lifting of US sanctions on Russia. Though the economic sanctions have not yet been lifted, disregarding Trump’s executive order removing sanctions on the sale of cyber-technology to the Russian intelligence agency, there are reports that 19.5 percent of the Russian oil company was sold to anonymous buyers through a labyrinth of shell companies – a fact that should give us pause since it equals the exact amount promised to Trump plus the requisite brokerage fees!

In addition, White House insiders have reported that the Oval Office recorder was turned off during Trump’s phone conversation with Putin (shades of Tricky Dick Nixon). Yet Congress still refuses to have a serious investigation into Trump-Putin ties.

Domestically, Congress and Trump plan to gut Dodd-Frank, the law designed to prevent another financial meltdown such as the banking collapse of 2008. Trump overturned the fiduciary rule put in place by former President Obama to require financial planners to work in the best interests of their clients. The Senate confirmed Trump’s unqualified nominee for Secretary of Education likely due to the millions donated by DeVos and her family to help elect Republican candidates. And the Senate has voted to repeal the Dodd-Frank anti-corruption rule – a decision that benefits only too-big-to-fail banks and other large, multinational corporations.

Of course, there is much more.

Congress has promised to repeal the Affordable Care and Patient Protection Act. There are bills to eliminate the Environmental Protection Agency and The Department of Education. And, given Trump’s cabinet nominees, it would seem that many other government agencies and departments, including the Labor Department, Energy Department and Health and Human Services are earmarked for destruction.

It cannot be said loud enough or repeated often enough: THIS IS NOT NORMAL!

The Panama Papers? Why Not The Delaware Papers?

While the Panama Papers exposed thousands of politicians and billionaires who have used off-shore tax havens to hide trillions of dollars from taxes, the leaked papers will likely have little effect on Americans. It’s not that American corporations, billionaires and politicians are any more trustworthy than their foreign counterparts. It’s just that they don’t need to hide their money in the Cayman Islands when they can hide it in a much safer and less transparent refuge…the United States.

That’s right, the US is quickly becoming the world’s capital for money-laundering and tax shelters. Outside of Kenya, the US is now the easiest country in the world to open an anonymous shell corporation. No need to move your money off shore; no need to hire a Panamanian law firm; no need to place your trust in the economy of a third world country. Instead, you can open a shell company in Delaware, Nevada or South Dakota that will allow you to invest your money anonymously.

A recent article in the Washington Post noted that, if it weren’t for such schemes, the US Treasury would annually collect an additional $36 billion from wealthy individuals and an additional $88 billion from multinational corporations. That’s $124 billion a year that could be used to pay for public schools, to rebuild our crumbling infrastructure, and to improve public transportation!

And US citizens are not the only ones who are taking advantage of our lax tax laws.

According to TaxHavenUSA.com, the US has become the world’s largest tax haven for wealthy non-residents. You see, Congress, in an attempt to encourage more investment in US securities, made it easier for non-residents to invest through “pass through” or “disregarded” tax entities. These are the same vehicles the Koch brothers and their wealthy rightwing friends are using to influence elections without disclosing the source of their funding.

Through these LLCs, non-residents can easily open US financial accounts and make investments in securities without paying US taxes on the income they earn. They can avoid US capital gains taxes. Further, the investors in these entities can operate businesses outside the US while taking advantage of US corporate tax write-offs and incentives. Thanks to a variety of treaties, non-resident investors can reduce their tax liabilities in other countries, as well. They can transfer income to other, lower tax nations. All the while their investments are protected by the full faith and credit of the US. Their US bank accounts are even protected by the FDIC! Best of all, the investors in these entities can all remain anonymous.

So if you’re expecting the Panama Papers to reveal names like Charles Koch, David Koch, Sheldon Adelson, Mitt Romney, or Donald Trump alongside such people as David Cameron, Vladimir Putin and the House of Saud, don’t hold your breath. Like me, you’re probably going to be sorely disappointed.

What Does Your Party Stand For?

These days, it’s popular to say that there is no real difference between the political parties; that they are both in the pockets of large corporations. While it is true that, following recent Supreme Court decisions, both parties rely on the wealthy for campaign donations, there are sizeable differences in what the two parties stand for.

Based on its actions of the past 50 years, here’s what the Republican Party stands for: Large corporations, increased corporate welfare, increased mining, increased oil production, increased deforestation, increased corporate farming, increased corporate fishing, off-shoring of jobs and corporate profits, unfettered financial markets, tax cuts for corporations, tax cuts for the wealthy, privatization of Social Security, elimination of Medicaid and Medicare, elimination of Obamacare, more defense spending, more wars, more militarization of police, more guns (except at GOP events), the end of legal abortions, reduced access to contraception, elimination of the minimum wage, elimination of food stamps for the needy, elimination of estate taxes, elimination of labor unions, elimination of defined benefit pensions (except for corporate executives), elimination of family leave (except for corporate executives), elimination of the EPA, elimination of the FDA, elimination of the Dept. of Labor, elimination of the Dept. of Education, elimination of free public education, deportation of all undocumented immigrants, discrimination against women, discrimination against college students, discrimination against people of color, discrimination against gays, discrimination against non-Christians, a new Constitution based on the Ten Commandments, and limited voting rights based on color, age and income.

Here’s what the Democratic Party stands for: Virtually everything the Republican Party is against.

I truly wish all of this was an exaggeration. But, in fact, all of these policies have been supported by one or more of the GOP presidential candidates either by words or action.

What If The US Were Like The EU?

The corporate media propagandists have portrayed Greece as a debtor nation unable to get its fiscal house in order due to the laziness and greed of its people. They fail to report that Greece is only in its current situation largely as the result of the US-created mortgage crisis and the greed of huge international banks.

It’s more convenient to blame the Greek crisis on pensions and a bloated government.

But the fact is, prior to the mortgage crisis, the nation’s debt was roughly 8.3 percent of GDP. Then Goldman-Sachs…yes that Goldman-Sachs…”helped” Greece hide its debt through a risky, off-the-books derivative. When the world markets crashed in 2008, Greece’s debt-to-GDP ratio exploded to 100 percent of GDP. And that number continues to climb.

Why?

As many of the world’s most respected economists will tell you, increased debt is the inevitable result of extreme austerity. As Greece increases lay-offs of government employees, the unemployed workers have less to spend. As a result, small businesses suffer, which results in more lay-offs and lower tax revenues. The result is a downward spiral from which it is difficult to escape.

For example, Greece’s unemployment now stands at approximately 28 percent or roughly the same percentage as the US during the Great Depression! Worse, youth unemployment is nearly 50 percent. And 40 percent of Greece’s children now live in poverty. But pay no attention to those numbers…the international banks are profiting and, as long as Greece remains in the EU, most of the world’s stock markets are soaring.

The problem is that the EU has no form of wealth redistribution like that of the US. Imagine if we treated our poorest states in the same manner the EU is treating Greece. North Dakota now has a debt ratio of -89 percent. In other words, in 2014, North Dakota received $7.51 from the federal government for every $1.00 it contributed in federal income taxes. Many other states also routinely run in the red. Ironically, most of those are also politically red. Alabama, Alaska, Arizona, Indiana, Kentucky, Mississippi, Montana, South Carolina, West Virginia and Wisconsin all receive more from the federal government than they contribute. Should we then force austerity on them and force them to payback the difference with interest?

That’s what the EU is doing to Greece.

And what of California, Colorado, Delaware, Illinois, Massachusetts, Minnesota, Nebraska, New York, New Jersey, Rhode Island, et al, who contribute far more in taxes than they receive? California contributes $236.5 billion more than it receives. That’s enough to single-handedly cover the deficits of Alabama, Alaska, Arizona, Indiana, Kentucky, Mississippi, Montana, North Dakota, Tennessee and West Virginia combined. What if we had the EU system and California acted like Germany? Many of those states would now be facing excruciating austerity, skyrocketing unemployment and debilitating poverty.

Teapublicans are fond of saying that, unless we cut spending and cut taxes, the US will become another Greece. That’s simply not true. Economically, our nation has little in common with Greece. The only way our economy could begin to resemble Greece’s is if we resort to self-imposed austerity as the Teapublicans recommend.

You Can Take That To The Bank.

That used to be a statement of certainty. Americans once considered the bank a place of safety for their money; an island of certainty in an uncertain world. No longer. With the repeal of Glass-Steagall in 1999, banks have become little more than high-end casinos – only casinos have some semblance of integrity.

When banks lost their high-stakes bets in 2008, they collapsed our economy. And, in an act of unparalleled hubris, they turned to taxpayers to help them avoid bankruptcy. Instead of paying a significant price for their wantonness, the “too-big-to-fail” banks continued with business as usual, even continuing to pay their executives six and seven-figure bonuses. Meanwhile, other Americans slogged through the greatest recession in history, losing as much as $7 trillion through a combination of home foreclosures, lost salaries, lost interest and lost pensions.

And who made off with most of that money? Why Wall Street, of course.

Given their recent history, one would expect that at least some of the bankers who caused the problems would have been convicted of crimes. They weren’t. Instead, they have continued to profit. Worse, they have continued to game the system. They continue to oppose the Dodd-Frank Wall Street Reform and Consumer Protection Act. They continue to oppose the Consumer Protection Agency. And they continue to gamble with your money.

In fact, since the banking collapse of 2008, bankers seem to have upped their game; engaging in numerous financial scams and committing outright crimes. To wit: UBS paid $2.3 billion in fines when it was discovered that one of its traders hid €5 billion in losses. Wells Fargo paid $175 million to settle accusations that it discriminated against African-Americans and Hispanic borrowers. JPMorgan Chase gambled $2 billion and lost nearly $6 billion. Barclays paid $450 million to settle charges that it manipulated LIBOR, the global interest rate, and UBS paid $1.5 billion to settle similar charges. USBC paid $1.9 billion to settle a money laundering probe. And Barclays was recently fined £284,432,000 for its role in rigging the foreign exchange market.

Though the banks have admitted to felonies and paid billions in fines, they have yet to pay any real penalty. As far as I can tell, only two bankers have gone to jail. And the rest are unrepentant. Indeed, a recent poll of Wall Street traders found that a significant percentage would be willing to commit a crime if it resulted in a payback of $10 million. (Keep in mind that, on Wall Street, $10 million is chump change.)

But instead of cracking down on the banksters, a GOP-controlled Congress seems determined to deregulate Wall Street. (They know who butters their bread or, more precisely, makes the majority of their campaign contributions.) So you don’t have to be a financial expert to know that there will be many more scandals to come.

You can take that to the bank…er…mattress…or whatever.