WHAT EVER HAPPENED TO “GOOD JOBS”?

It is hard to pinpoint the precise moment when “good jobs” disappeared from national discourse, ignored by our leaders and the media that cover them.   The phrase was invoked during President Obama’s campaign—that is, his first run for the presidency.   But it soon disappeared in a West Wing dominated by Wall Street.  This time around it was altogether gone from campaign rhetoric, a vanishing act with catastrophic consequences for millions of Americans.   “Good jobs” continues to be banished from national discourse, as if the censors of capital wished it away.  
 
Corporations have nothing to say on the subject, intent to hold down wages and sit on vast amounts of capital – some $3.4 trillion, by last count.  Over the next decade, 7 of 10 new jobs will be low wage, reports the Bureau of Labor Statistics.   The rate of corporate profit is at its highest level in more than a century, according to Bloomberg.   That’s quite a record… Coolidge, Harding, Eisenhower, Reagan, Clinton, Bush II… all left in the dust.
 
Wall Street is thriving.   The stock market S&P index shot up 13% in 2012, and JPMorgan Chase had its best year ever in 2012, with Goldman Sachs close behind.  Indeed, the 1% continues to accumulate vast wealth and U.S. economic inequality becomes more pronounced, even as alarms go off at the International Monetary Fund and elsewhere that inequality undercuts growth. 
 
In spite of it all, everyone knows this central truth:  Life is at a dead end in this country without a full-time job at a good wage and with decent benefits.
 
Since the Inauguration earlier this month, official debate has focused on debt ceilings, women in combat roles and most recently on immigration.  These are hardly irrelevant matters; but in the end they fill front pages and newscasts where we should see and hear the clamoring for good jobs.  
 
The  immediate goal of the Robin Hood Tax is to put revenue into the many communities still reeling from the effects of the financial collapse of 2008.  An estimated $350 billion can be raised annually from a small sales tax on Wall Street financial transactions, today embodied in The Inclusive Prosperity Act, sponsored by Rep. Keith Ellison (D-MN).   More than 125 organizations – labor, religious, consumer, health advocates and others – have endorsed the bill.  Together these groups total millions in members.   They join financial transaction tax movements worldwide; 40 countries have such a tax in place today, as economists, even leading business executives, are raising their voices in support.  
 
While the corporate sector in this country staunchly refuses to invest in good jobs, government must step forward, invoking Robin Hood tax revenue for good jobs in healthcare, in education, to provide a clean environment and to rebuild a deteriorating infrastructure.   Our communities are falling down around us. 
 
Many millions need these jobs.  There are a staggering  22 million adult Americans who are without full-time jobs today  and for whom the hardship of enduring unemployment is taking a terrible toll.    Some are recent college graduates, loaded down with debt from escalating school costs.   A Rutgers University survey found that half the college grads in this country over the last six years do not have full-time employment.   Robin Hood funds can help them get a start in life. 
 
What we do not need are more low wage jobs, as the numbers of working poor grow each year to astonishing levels in this, the wealthiest country in the world.    According to the Census Bureau, one-third of adults who live in poverty are working but do not earn enough to support themselves and their families.   A quarter of jobs in America pay below the  federal poverty line for a family of four – $23,050.   Close to half of food stamp allocation goes to households where an adult is working full-time- that’s taxpayer money paid to workers whose bosses won’t pay a living wage.   
 
Our government should join Rep. Ellison and his co-sponsors and embrace the Robin Hood tax and its call for good jobs in a real economy.  Without it, and the yearly revenue it would provide for an enduring recovery for all, the legacy of our nation’s leaders will be poverty on a vast scale.

JOIN THE MOVEMENT TO TAX WALL STREET HERE >>

 

 

ROBIN HOOD GETS THE GO AHEAD IN EUROPE

The Robin Hood Tax moves forward in a major way, in what is being termed a “milestone for tax policy.” Eleven nations in the European Union are participating in a financial transaction tax, sometimes called a Tobin tax, in Europe per “enhanced co-operation” rules of the EU. 
 
It’s another sign that our movement is gathering momentum. As more countries support a Robin Hood tax, it helps eliminate the idea that traders would flee the US market if Congress passed a financial transaction tax.
 
By the EU rules, a smaller group within the 27-nation EU can pioneer a tax.  “Those who want to move ahead, and who appreciate the merits of working more closely on taxation at the EU, can do so,” Algirdas Semeta, the European Commissioner for tax, told the press.  Commissioner Semeta said it is possible that the tax could enter into force beginning January 1, 2014.
 
The 11 countries are Belgium, Germany, Estonia, Greece, Spain, France, Italy, Austria, Portugal, Slovenia and Slovakia.  Other countries can opt in later.  Sweden, for example, chose not to participate, saying that a “global” tax was needed to protect all national markets.  The Netherlands has expressed interested, but would like to see an exemption for their pension funds.
 
The tax is expected to raise 74 billion Euros annually.   The UK, which has a Stamp duty on stock market trading, opted not to participate at this time.   But the Robin Hood tax will be collected by investors from the 11 countries when trading on the London Stock Exchange, one of the busiest in the world.  This is the so-called “residence principle,” meaning that a financial transaction would be taxed in each case where a resident of one of the participating EU member states was involved even if the transaction was carried out in a country that is not a participant.
 
Next step:  the European Commission brings forward a formal proposal for the tax. The proposal will be based on the September 2011 proposal – a coordinated minimum 0.1% tax rate for trades of stocks and bonds and a 0.01% rate for derivatives trades.
 
This week, proponents described the aim of the proposal is “for the financial industry to make a fair contribution to tax revenues, whilst also creating a disincentive for transactions that do not enhance the efficiency of financial markets.”
 
Specific uses of the tax funds have yet to be agreed upon.  Some press reports suggest that revenue will go towards bank bailouts in Europe.  But Robin Hood tax advocates will continue to call for revenue devoted to social and environmental purposes, to rebuild communities still reeling from the financial collapse of 2008.

EU approves financial transaction tax for 11 eurozone countries

UK abstained in vote but Germany and France among nations to impose FTT levy despite warnings by banks over losing trade

Germany, France and nine other eurozone countries have been given the green light to impose a financial transaction tax, despite warnings from banks and business groups that it will drive share, currency and derivative trading out of Europe.

EU finance ministers gave their approval at a meeting in Brussels, allowing 11 states to pursue a levy on financial transactions. The UK abstained in the vote alongside Luxembourg and the Czech Republic.

Eleven countries won the EU’s backing for a financial transaction tax (FTT), with Germany, France, Italy and Spain adding their names to eurozone neighbours Austria, Portugal, Belgium, Estonia, Greece, Slovakia and Slovenia.

The UK, which already imposes a tax on share trades, could benefit from a shift in banking business if Germany and France tax foreign exchange or derivatives trading in Frankfurt and Paris.

The levy, which could raise as much as €35bn (£29.3bn) a year for the 11 countries, is designed to prevent a repeat of the conditions that stoked the credit crunch by reining in investment banks. Following the decision, the European Commission will put forward a new proposal for the tax, which if agreed on by those states involved, would mean the levy could be introduced within months. Although critics say such a tax cannot work properly unless applied worldwide or at least across Europe, countries such as France are already banking on the extra income from next year.

“We will be able to put it into place quickly,” said Benoit Hamon, a junior minister in the French finance ministry who was at the meeting.

A tax would raise the costs of individual trades, which economists suspect are carried out by banks to extract commissions and fees from fund managers that handle large pension funds.

Opinion is divided over whether banks would continue to trade at current levels and pay the tax or cut back on the number of trades, potentially saving pension schemes millions of pounds.

Algirdas Semeta, the European commissioner in charge of tax policy, said: “This is a major milestone in tax history.”

Under EU rules, a minimum of nine countries can co-operate on legislation using a process called enhanced co-operation as long as a majority of the EU’s 27 countries give their permission.

Germany and France decided to push ahead with a smaller group after efforts to impose a tax across the whole EU and later among just the 17 eurozone states foundered. Sweden, which tried and abandoned its own such tax, has repeatedly cautioned that the levy would push trading elsewhere.

Critics say the levy could open another rift in Europe, where the 17 states using the euro are deepening ties in order to underpin the currency, and there is the growing risk that Britain could even leave the European Union.

The CBI said the tax, based on an idea proposed by US economist James Tobin more than 40 years ago, would place another barrier to growth in the eurozone because the costs would ultimately be passed on to consumers and savers.

Matthew Fell, CBI director for competitive markets, said: “The UK government is right to reject a FTT as damaging for jobs and growth.

“It is disappointing that eurozone economies are pursuing the FTT, whose costs ultimately fall on consumers and businesses, and will be a drag on the eurozone recovery.

“As the UK’s largest single trading partner, a healthy European economy is in everyone’s interests so we urge participating member states to reconsider this tax.”

CNA RNs, Labor Supporters Join Sutter Solano RNs to Condemn Illegal Attacks on Nurses’ Rights

Sutter Solano registered nurses, joined by RNs from other hospitals and local labor leaders spoke out Tuesday to condemn the Vallejo hospital executives for illegal threats and disciplinary actions against nurses who have exercised their collective rights to protest sweeping concession demands.

 

“Nurses across the country are watching the struggle of the Sutter nurses,” said Martha Kuhl, treasurer of the California Nurses Association/National Nurses United and a Children’s Oakland RN who chaired the rally which drew more than 50 nurses and supporters.

 

CNA has filed charges with the National Labor Relations Board over blatant and illegal violation of Section 7 of the National Labor Relations Act over threats by Sutter Solano management to the Vallejo, Ca. nurses of discipline in an attempt to intimidate RNs from joining a one-day strike in December.

 

“Sutter comes at us with rocks in their fist,” but nurses know “we have a right to fight for a fair and just contract,” said Sutter Solano RN Jolayne Haines.

 

The hospital demanded that all Sutter Solano RNs report to work on December 24, even those not scheduled for shifts on that day. After the strike, Sutter Solano issued letters of warning against the RNs for not working the one-day strike and for those who did not work during the four-day lockout which the hospital imposed.

 

When the threats were first issued, the California Nurses Association/National Nurses United, which represents the Solano RNs, filed immediate charges with the National Labor Relations Board over the blatant and illegal violation of Section 7 of the National Labor Relations Act. 

 

“We will not tolerate” this attack on any nurses, said CNA Board member Kathy Donahue, a Kaiser Oakland, RN. “United we stand.”

 

“We are an army of CNA nurses that demand fair treatment. We will not let Sutter Solano RNs fall,” said Sutter Alta Bates Summit Oakland RN Lucy Riley.

 

The law establishes a clear right for employees to engage in collective action, including the right to strike, without fear of retaliation, harassment, or discipline by their employer. Regional NLRB officials are expected to act on the CNA charge by the end of January.

 

The nurses were joined at the rally by Teamsters Local 315 leader Carlos Borba who linked the fight to the national attack on workers and unions across the country. “You’re facing the same thing all of labor is,” he said.

 

“Your fight is about patient care. On behalf of the 60,000 members of the Napa-Solano Central Labor Council, we are there for you,” said Jon Riley, executive director of the council.

 

“We are the backbone of these hospitals. It gives me a lot of strength to know we are there for each other,” said Sutter Delta RN Melissa Thompson.

 

Efren Garza, RN at Sutter’s Alta Bates Summit Herrick facility in Berkeley blasted Sutter management for giving out 150 percent pay raises to top executives while demanding massive takeaways from nurses, such as a proposal to effectively “give up our sick leave. We need to stay united and Sutter will be defeated. We are united. We are union.”

We Need a Real Economy

NNU’s RoseAnn DeMoro joins national panel on call to eradicate U.S. poverty


GET INVOLVED:

Rebroadcasting Tuesday, January 22 through Thursday, January 25.

Smiley is calling on President Obama to convene forthwith a White House Conference to Eradicate Poverty. 

TELL THE PRESIDENT #PovertyMustEnd. Sign the letter http://bit.ly/U4Zyi1


“We have to have an economy – a real economy. What do we have now? We want our jobs back. We want our pensions. We want our healthcare. We want to raise standards for everyone in America.  We want a civil society….Where’s our country?”

These questions, posed by National Nurses United Executive Director RoseAnn DeMoro set the stage last night as TV and radio host Tavis Smiley convened a group of eight individuals for a landmark national broadcast promoting his goal of a “Vision for a New America: A Future Without Poverty,” .  

Panelists included included former House Speaker Newt Gingrich, Rep. Marcia Fudge, who chairs the Congressional Black Caucus, Professor Cornel West of Columbia’s Union Theological Seminary, Prof. Jeffrey Sachs, of Columbia’s Earth Institute, public education advocate Jonathan Kozol, Professor Marianne Chilton of Drexel University, and NNU’s DeMoro.

The Inauguration this year coincides with the national holiday celebrating Martin Luther King, Jr. who Smiley termed “the greatest American we have ever produced.”  The broadcast from George Washington University in Washington, D.C., shown live on C-Span will be re-broadcast in half-hour segments on Smiley’s PBS program  over four evenings, January 22-25.

Smiley is calling on President Obama to convene forthwith a White House Conference to Eradicate Poverty.  

Vision for a New America
Broadcaster Tavis Smiley, left, with former House Speaker Newt Gingrich and NNU Executive Director RoseAnn DeMoro

‘Poverty a crime against humanity in the world’s richest country’

“It is a crime against humanity that the richest country in the world has such poverty,” said West.  He praised King for his “decency and dignity” and questioned whether his memory was “appropriate for presidential pageantry.”

West was referring to the planned use of King’s personal bible in the presidential swearing in ceremony on Monday.  “What would Dr. King say about the poverty here now while not one Wall Street executive has gone to jail?” asked West.  

“I represent registered nurses in the unions across this country,” said DeMoro.  “They are of the finest tradition of Martin Luther King. They are about humanity. They don’t make distinctions among patients. They don’t care if you are rich or if you are poor or if you are black or white or if you’re a man or a woman.  You’re their patient.”

Nurses, said DeMoro, “protect you. They fight for you. And what they are finding because of the profits in the healthcare industry and the most inept system in the industrial  world – the American medical system – is that patients are being pushed out. The children are coming in with malnutrition. Sometimes the only lunches they get is when they go into the emergency room. The shame that basically our decisions makers and Wall Street have brought to our country is presented to nurses on every shift and every hour in the hospitals in this country.”

Nurses, DeMoro added, “don’t stop fighting with their hospitals to care of their patients because they see people who haven’t had cancer screenings, people who basically can’t afford their medications, as the drug companies make $60 billion in profits as well as hospitals where $52 billion in profits. That’s billions and trillions of dollars sitting in the reserves of the wealthy and our children starving and people are presenting with almost near death.”

Vision for a New America
RoseAnn DeMoro calling for single payer healthcare and a Robin Hood tax to help fight poverty in the U.S.

“But what the nurses have done,” she added, is say, ‘I’ll fight for them in my hospital but I’m also going to fight for them in the streets.’  

The single payer solution

One solution for both the healthcare crisis and poverty, DeMoro said, is a single-payer healthcare system.  “ It would cover everyone. The insurance companies would be gone. We could have cost, quality and access and the ability to be a civil society. If we had a single payer healthcare system, we could generate almost three million jobs, which would actually serve to stimulate the rest of the economy so you’re building and actually taking care of the people of America.”

Sachs shared an estimate that it costs the U.S. $750 billion to sustain a for-profit healthcare system.  “The rich have gotten their way.  The corporations have gotten their way.  We have the least social mobility in any industrial country,” he said.

Income inequality and poverty have come to define the American landscape in thick strokes.  In the last generation, since 1989, Smiley told listeners, 49 of 50 states have experienced stepped-up income inequality and 43 states have seen poverty rates go up.   The number of Americans in official poverty is now approaching 50 million, Smiley has reported, and nearly half the U.S. population is living at or near poverty, he has said.
“We are incapacitating ourselves,” said Sachs, who heads the Earth Institute at Columbia University.  He called for investment in infrastructure and decried a political system in which “we have two parties of the rich.”  

“The White House,” said West, “is addicted to power.  Where is the love and justice? We live by the rule of money.  Everything is up for sale.  Big money versus quality of morality.”  

It is a world, Kozol reminded, “straight out of Charles Dickens.”   He added hat “charity is not a substitute for justice.”  Kozol thanked both teachers and nurses, reminding that both workforces are comprised of women and he acknowledged their extraordinary dedication.  

The Robin Hood campaign to tax Wall Street

DeMoro highlighted a major campaign promoted by NNU for a Robin Hood tax, now supported by more than 125 organizations – labor, religious, consumer, health advocates and others, embodied in The Inclusive Prosperity Act, sponsored by Rep. Keith Ellison (D-MN).

It says to Wall Street, “you’re going to pay your fair share in this country.”
Sachs is among many public figures speaking out in support of the Robin Hood Tax, whose annual revenue would address the nation’s impoverishment with good jobs and decent retirement, quality education and healthcare and more.  

“Influential Americans are buying into the Robin Hood Tax,” said  Smiley.

“It’s simply a tax on Wall Street,” explained DeMoro, just “50 cents in the case of stock on a $100 trade. We all pay sales tax on everything we buy. This is saying to Wall Street that you have gotten such a pass.”

Gingrich, citing the “big boys” of Wall Street – the Federal Reserve, the big banks and those behind Dodd Frank – for escaping scrutiny and raiding the Treasury.  He said, “There has been no serious investigation about what happened to the money.”  

“It’s good to hear Newt talk about breaking up the banks,” DeMoro noted.

Kozol described how poverty deprives American children of their full potential and called for full support of public education.   “The only tried and proven exit from destitution of their parents  is terrific, expensive public education,” said Kozol.  

To him, class size matters—the “most significant factor in the pedagogic world.”  Yet public school class sizes are soaring, to 40 high schoolers per room in L.A., according to Kozol.   “It is a crime against the innocent,” he declared.

Prof. Chilton, an expert on early childhood conditions, said that one in four children under six years old is suffering from food insecurity in the U.S. today, with serious healthcare consequences—“a major crisis.”  She argued for support in the form of food stamps and the Women Infant and Children program (WIC).  “They work and make us a better country,” concluded Chilton.

How do you make poverty a priority?”    Smiley asked Rep. Fudge. She
concurred that “none of us has done enough to address poverty.”  

“Silence is betrayal,” said Fudge. “I am on the Agriculture Committee that oversees food stamps.  We cut food stamps by $16.5 billion over the next decade.  Some of my ‘colleagues’ were not satisfied.  They wanted to cut more!!” 
‘If everyone was unionized, we’d have Wall Street on the run. Labor unions play a particularly critical role in society, said DeMoro.  “The American labor movement is behind Social Security, one of the greatest programs that keeps us out of poverty.  The President cannot cut care to the most vulnerable people in our society.  Medicare, it’s such a critical program—also pushed by the American labor movement.

 


GET INVOLVED:

Rebroadcasting Tuesday, January 22 through Thursday, January 25.

Smiley is calling on President Obama to convene forthwith a White House Conference to Eradicate Poverty. 


 

“The other thing the American labor movement does is raises all boats.  It set living wages for people, benefits, pensions. If everyone in this country was unionized, we would have Wall Street on the run.,” she said.  

“There is a concerted effort as part of the neo-liberal agenda to vilify teachers, vilify anything public,” said DeMoro.   “The greatest institutions we’ve ever had have been public institutions.  The corporations have been in control and this country is a disaster.”

She critiqued those who have placed bipartisanship above principle. “We compromise on the things that are fundamentals. We can compromise on tactics but people will have to draw a line in the sand. Learn that from the labor movement and the building trades … .  get the cement, fill in that line and we say this is a line that you do not cross.”

DeMoro endorsed Fudge’s statement “that you’ve got to push. We’ve got to push. We’ve got to create a movement in this country. Occupy was a moment. Occupy needs to start up and keep going and needs to bring millions and millions of people with it. We are organizing a movement. It’s in the streets. It’s in Congress and it’s across the world and we’re not going to stop.”

“People have to engage,” DeMoro concluded.   “We can’t entrust our democracy to a bunch of people in Washington, D.C., who are getting paid by some very expensive lobbyist on the side.  We have to take control of our democracy, to participate in democracy.  Don’t discount America.  Take control.”

By: Carl Ginsburg, NNU

 

One big way to reduce poverty – expand Medicare to everyone, no cuts to Social Security or Medicare

Follow NNU on DailyKos: National Nurses Movement

With poverty rates spinning perilously out of control in the U.S., it’s time to send an unmistakable message to Congress and the White House as they prepare to resume the ongoing obsession with the deficit:

End the silence on poverty, don’t make poverty worse through cuts to Social Security or Medicare, and address a principle cause of poverty with a permanent fix to our dysfunctional healthcare system.

That’s one prescription recommended by RoseAnn DeMoro, executive director of America’s largest organization of nurses, National Nurses United.

DeMoro is one speaker on an impressive panel presentation on poverty tonight in Washington, titled “Vision for a New America. A Future Without Poverty.” Organized by nationally syndicated broadcaster Tavis Smiley, it’s being broadcast on CSPAN at 6:30 p.m. EST, and also live streamed.  

In a week in which a shocking new report on U.S. life expectancy rates was published, which has a disproportionate impact on the poor, DeMoro notes, this is a good time to draw the links between income, healthcare, and Social Security and Medicare, perhaps the two most effective anti-poverty programs ever enacted in the U.S.

Census Bureau data puts the official poverty rate at 15 percent, 46 million people, and at 22 percent for children under 18. Some have speculated the real number is two to three times that amount.

Not that you would notice listening to the debates inside the Beltway where too many politicians are focused on spending cuts, not addressing the daily shortages of  food, shelter, healthcare, and jobs faced by a large swath of our nation.

Nurses, DeMoro is likely to point out tonight, see the correlation of low incomes and deteriorating health status every day in hospitals and clinics across the U.S.

Consequences that are evident in a report released last week by the National Research Council and Institute of Medicine which found the U.S. ranked last in life expectancies among 17 affluent countries.

All those other countries have some form of a national healthcare system, like our VA or Medicare program. No gold medals for us in this international competition, except in how much we spend and waste on health care as a result of our profit-focused private system.

Sadly, the Affordable Care Act has not eradicated the problem, especially when it comes to rising healthcare costs, as apparent in the double digit premium hikes private insurance companies continue to demand.

0512_SNA_M18_2082
NNU RN, in mask promoting Robin Hood tax on Wall Street speculation that would raise hundreds of millions for healthcare and anti-poverty programs, calling for Medicare for all at Chicago rally last year

No surprise then that medical bills are the leading cause of two-thirds of personal bankruptcies and other medical woes directly linked to poverty related factors that nurses witness regularly.

These effects include:

  • premature and low weight babies and other widespread nutrition problems from *hunger and malnutrition that can lead to disease and even organ failure
  • children with high levels of stress and anxiety
  • heart attacks in younger and younger men
  • rampant unaddressed mental health problems and emotional disorders
  • poor dental care with more patients with severe dental problems ending up in the ER, and
  • scores of patients who routinely skip needed medical care because of the cost until they end up in emergency rooms with major untreated diseases that may then be too late to heal.

Patients like the widowed woman in a Midwest state whose diabetes led to foot and leg wounds that became severe because she could not afford constant treatment. Finally admitted to a hospital, she faced the Sophie’s Choice of amputation or lengthy, more expensive long term care. She chose amputation because it was cheaper. No that’s not a story out of the Middle Ages or a Civil War battlefield, it’s modern day America.

Permanent disability would not have been needed had she been able to wait a few more years. The NRC/Institute of Medicine study found the U.S. catching up to other countries only when people are later in life. Because of Medicare.

Upon signing the Medicare law in 1965, President Johnson cited the long history in the U.S. of “bill after bill (being)  introduced to help older citizens meet the often crushing and always rising cost of disease and crippling illness.”

Before Medicare, a story told in this video, barely half of seniors had medical coverage, Within five years, 97 percent did.

A similar story can be told about Social Security. Before that law was enacted in 1935, only 15 percent of workers had private pension plans, and many American seniors were mired in poverty totally dependent on their sons and daughters.

Now, reports the Center on Budget and Policy Priorities, Social Security provides two-thirds of the income for recipients over 65, and more than 90 percent for one-third of seniors.  Only 10 percent of seniors are below the official poverty level, without Social Security more than half would be.

That’s the context in which the “deficit scolds,” as economist Paul Krugman calls them, are targeting Social Security and Medicare.

It is the working poor who must work longer and those who would be thrown back into poverty, especially women who have historically earned less than men and built less of an income base that determines amounts of benefits, who would be most harmed by such cuts as raising the eligibility age or slashing benefits.

The proposal, floated by President Obama and others to shift Social Security benefits to a “chained” Consumer Price Index by itself could cut monthly benefits for a typical single woman by $56 at age 80, says the National Women’s Law Center.  

A comprehensive program to combat poverty in America is long overdue. It should start by insisting on no cuts in Social Security or Medicare, and move on to a permanent fix of our healthcare system by upgrading Medicare with full funding and an end to the creeping privatization, and expanding it to cover everyone.

Originally posted to National Nurses Movement on Thu Jan 17, 2013 at 10:53 AM PST.

Also republished by In Support of Labor and Unions.

The Two Americas

There are more billionaires than ever, while children and seniors go hungry and record numbers of families struggle in poverty. Nurses can help by passing the Robin Hood Tax.

RoseAnn DeMoro
By: RoseAnn DeMoro
Executive Director, National Nurses United

As 2012 draws to a close, one anniversary received far too little attention in the recently concluded political season.

This year marked the 50th anniversary of a groundbreaking book, The Other America, by Michael Harrington, a searing examination of rampant poverty in the richest nation on earth.

Historians have said that a widely reported review of Harrington’s work in the New Yorker magazine was brought to the attention of then-President John F. Kennedy, and ultimately helped influence the Great Society reforms later launched by his successor Lyndon Johnson.

But half a century later, we seem to be back to square one. When NNU launched our Nurses Campaign to Heal America (also known as our Main Street campaign), it was spurred in large part by the alarming spike in patients presenting in hospital emergency rooms and clinics across the country who were having to choose among paying medical bills, paying their rent or mortgage, or feeding their families.

It was not an aberration. By 2011, with the recent recession showing scant signs of abating, official poverty figures had soared to nearly 50 million Americans. Some in the political arena tend to pigeonhole poverty by race, but this calamity crosses all lines of gender, geography, age, and ethnicity. Last year, almost one in four children lived in a family that regularly has difficulty affording sufficient food, according to the U.S. Department of Agriculture.

On the other end of life, 8.3 million people over 60 in 2010 faced the threat of hunger, up 78 percent from a decade earlier (a statistic the policy makers certainly need to think long and hard over before making fiscal cliff cuts to seniors).

Hunger and malnutrition, as nurses will attest, leads to a broad array of health problems, ranging from reduced immunity to disease or even organ failure. For children, poor nutrition can severely stunt cognitive development and growth. For adults and seniors, the consequences can include more chronic illnesses and shorter life spans. More than 20 million Americans live in extreme poverty—with cash incomes as low as $10,000 a year for a family of four.

Is it any wonder that the United States has the third-highest poverty rate out of 30 leading industrial nations? As nationally syndicated broadcaster Tavis Smiley, who in September embarked on a Poverty Tour with Professor Cornell West, put it, “You have three classes of poor people: the perennially poor, folks who’ve been stuck in poverty; you have the near-poor, folks who are just a paycheck or two away, low-income; and the new poor, the former middle class. So many middle-class Americans of all races, all colors, and all creeds have fallen into poverty because of corporate greed and because of political indifference.”

And, of course, decades of economic and political policies that have resulted in a massive shift of national wealth from working people to the corporate boardrooms and the yacht owners. Today, according to Bloomberg Markets magazine, 200 billionaires have a net worth of $2.7 trillion, about the gross domestic product of France. In contrast, real wage growth for workers has stagnated for 30 years, median household income has steadily fallen since the Wall Street-produced economic crash of 2008, and much of the limited job growth has been in the lowestwage sectors, primarily food service and retail.

When Smiley and West launched their Poverty Tour, it was an effort to get the attention of the presidential candidates on eradicating poverty. But the issue sadly remained as invisible on the campaign trail as it was when Harrington shocked the nation in 1962. However, it is not a shock to nurses who see every day the faces of poverty and the suffering of families left behind even as corporate profits once again soar and the parties and good times are back on Wall Street.

With all the enormous wealth in our nation, we really can do something about poverty and the overall economic morass that continues to plague not just the unemployed, or those working two or three jobs flipping hamburgers in Main Street towns and cities from coast to coast. Nurses have a solution. It is the genesis of our campaign.

Everyone deserves a good job at living wages; guaranteed healthcare based on patient need, not on ability to pay; equal access to quality education; a clean and healthy environment. And despite the obsession of too many politicians in Washington and many state capitals with inflicting more austerity programs on already hard-hit communities, there is a fairly simple way to pay for it—the Robin Hood Tax.

Our campaign to tax Wall Street speculation, embodied in Rep. Keith Ellison’s HR 6411, could generate up to $350 billion every year, an amount that could save more than 1.7 million homes from foreclosure, or finance 9 million new jobs at current average wage levels. Or it could fund the food plans of 24 million families of four for a year or lift all 3.8 million female-headed households out of poverty for nearly a decade. The “Other America” is all of us, and it is up to all of us to end this disgrace.

I personally urge each and everyone one of you to get further engaged in our Nurses Campaign to Heal America.

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RELATED NEWS:

NNU Executive Director, RoseAnn DeMoro to speak on health and poverty televised panel in DC

 

NNU Executive Director, RoseAnn DeMoro to speak on health and poverty televised panel in DC

Thursday, January 17, Newt Gingrich, CBC Chair Rep. Marcia L. Fudge (D-OH), Michael Moore, Jeffrey Sachs, NNU Executive Director RoseAnn DeMoro, Cornel West and others invited to discuss a ‘Vision for a New America’  

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*WASHINGTON — Just days before the presidential inauguration and Dr. Martin Luther King, Jr. holiday, broadcasterTavis Smiley is bringing together a bipartisan dream team to discuss the creation of a national plan to cut poverty in half in 10 years and eradicate it in 25. With the call for a national White House Conference on the Eradication of Poverty in America, Smiley and the panelists ask for a laser-like focus on the lives of 50 million Americans living in poverty on the brink of despair.

NNU Executive Director, RoseAnn DeMoro
NNU Executive Director, RoseAnn DeMoro

Be sure to watch RoseAnn DeMoro, National Nurses United’s executive director, talk Thursday about how bedside nurses are witnessing the devastating harm the economy has on patients and their communities.

She will join other speakers in the nationally-televised conversation — “Vision for a New America: A Future Without Poverty” — hosted by Tavis Smiley, a talk show host, author and advocate.

HOW TO PARTICIPATE:

Tune in and Share: “Vision for a New America: A Future Without Poverty”
Thursday, January 17 at 6:30 p.m. ET.

After the LIVE broadcast on C-SPAN, the show will rebroadcast:

The participants, who include Dr. Cornel West, Marcia Fudge, educator Jonathan Kozol and Prof. Jeffrey Sachs, will discuss their perspectives on poverty and share solutions to America’s declining condition.  

DeMoro will give details on the Robin Hood Tax, a sales tax on Wall Street speculative trading, that can raise billions to fund social programs for people in poverty and start healing communities in need. The tax is embodied in The Inclusive Prosperity Act, sponsored by Rep. Keith Ellison (D-MN) and now with 16 co-sponsors. To learn more about the Robin Hood Tax, go to www.robinhodtax.org

“Millions of American families are still hurting as a result of the financial collapse in 2008,” said DeMoro.  “Unlike the banks that were bailed out, and the 1% who continue to amass enormous wealth, vast numbers of Americans have had no recovery.  Our nurses share stories every day about demise in communities.  People are sick and dying because of this grossly unequal economy.”  

The broadcast will take place at George Washington University, Lisner Auditorium, 730 21st St. NW, Washington, D.C.  Panelists will sign, together on stage, an online petition calling for a White House Conference on U.S. Poverty. 

“America is teetering on cliffs and bumping against ceilings,” said Smiley. “This is no way to run a country. Together, we can devise a plan of attack to fight poverty in America. Ignoring this moral issue is an abomination.”

In addition to DeMoro, the panelists are Newt Gingrich, former Speaker of the House of Representatives; Representative Marcia L. Fudge (D-OH), chair of the Congressional Black Caucus; John D. Graham, dean, Indiana University School of Public & Environmental Affairs and author of America’s Poor and the Great Recession; Jonathan Kozol, author of Fire in the Ashes: Twenty-Five Years Among the Poorest Children in America; Mariana Chilton, director for the Center for Hunger-Free Communities and associate professor of Drexel University School of Public Health; Jeffrey Sachs, director of the Earth Institute at Columbia University; Cornel West, Union Theological Seminary Professor and author.

Please also share these RELATED articles by RoseAnn DeMoro:

* To learn more about the Robin Hood Tax, go to www.robinhoodtax.org

Please join the conversation and share this information widely!

Thank you!

A small sales tax on Wall Street reaps big rewards

By Jennifer Flynn, managing director, Health GAP – 01/08/13 02:45 PM ET

One has to wonder if Paul Schott Stevens’ “Don’t enact financial transaction taxes,” December 20, 2012, is more about protecting the turf of billion dollar Wall Street banks and enormous investment firms, including their lucrative mutual fund businesses, than protecting the average people who invest and save.

In his column, Stevens argues against the enactment of a financial transaction tax (FTT) in the U.S., as follows: “[A]ny benefits … would be dwarfed by the harm it would inflict on America’s savers, particularly its 90 million mutual fund shareholders.” Stevens is president and CEO, Investment Company Institute (ICI), a trade association comprised of more than 7,500 mutual funds, with names like Wells Fargo CoreBuilder and Morgan Stanley Global, as well as other investment entities.
What’s raised Stevens’ ire of late is legislation introduced in Congress in September by Rep. Keith Ellison (D-Minn.), H.R. 6411, “The Inclusive Prosperity Act,” an FTT now with 16 co-sponsors and the backing of the Robin Hood Tax Campaign, a coalition in the U.S. of more than 125 labor, religious, consumer, health advocacy and other groups, with combined memberships in the many millions.

Scores of leading economists and businessmen support passage of an FTT, as they, too, see it as a legitimate way to raise revenue. Backers include Bill Gates, Warren Buffett, David Stockman, Nobel Prize-winning economists Joseph Stiglitz and Paul Krugman, to name several.

The fact is that for the majority of Americans Ellison’s FTT should cost nothing, hence Stevens’ principal contention that FTTs “will produce a constant drag on shareholder returns… [and] make it all the harder for fund investors to achieve retirement security and other goals” is very misleading.

HR 6411 is a tiny tax; it is 50 cents per $100 on stock trades – that’s $50 on a stock trade of $10,000 – and even lesser rates on bonds, derivatives and currency dealings. Here’s what’s critical, and conspicuously absent from Stevens’ column: the facility or broker is levied the tax, not the investor. Thus Stevens’ argument that an FTT constitutes double, triple, even quadruple taxation is way off base.

Here’s the rub for investors: The sales tax is paid by the investor only if the mutual fund passes it along. We would urge the mutual funds Stevens represents not to pass along this small sales tax to the very savers whose interests Stevens says he seeks to guard.
The point here is that mutual fund profits are more than ample to absorb this very tiny tax. Just look at the billions in wealth gathered by top mutual fund managers. According to Forbes, Fidelity Investments’ chairman is worth $11 billion; Charles Schwab’s wealth is approaching $5 billion, some attributable to fund activity; and Charles Johnson, chairman of Franklin Resources, has made $4 billion from his mutual fund business.
As a final protection to investors, per the Ellison law Americans with incomes of up to $50,000, $75,000 for households, would be rebated any FTT paid.   We do not share Stevens’ concern that a tax rebate is an unworkable administrative burden, as credits and rebates are hardly new concepts.

Stevens’ worries extend overseas, where the European Commission, he points out, is moving forward on a unified FTT scheme, with the support of 11 member countries. Forty countries now have some FTT in place. As for the U.K. and its decision to stay out of the EC scheme, we would reiterate that a tax on stock trades – the Stamp Tax – is in place in that nation and the London Stock Exchange remains one of the biggest in the world — even with an FTT on stock transactions.

A unified scheme in Europe and around the world, at all the major exchanges, avoids capital flight. So when Stevens raises that issue in the context of Sweden a generation ago, he seems behind the times.

In France, cautions Stevens, “large players are able to skirt the tax using an array of techniques, leaving small investors to bear the burden.” Unlike many taxes, Ellison’s proposal is difficult to evade because the tax is collected at the point of transaction and title is withheld until marked paid. With automation, trades are easy to track and tax collected.

Stevens shares our concern that “high frequency trading” needs regulation, but he believes an FTT  “seems an awfully blunt tool for achieving that goal.”  But the same top economists who support the FTT cite its usefulness in helping curb these destabilizing trading practices.

By one estimate, for every gallon of gasoline purchased in the U.S. today, $1 of cost can be attributed to speculative activity in the markets. We think that’s a national shame. An FTT can help to lower levels of speculative trading, according to numerous studies.

To the  millions of Americans who are members of organizations calling for an FTT, some of whom are also mutual fund investors, the Ellison bill’s goal of raising an expected $350 billion annually serves an overwhelming national need. The FTT would expand state and federal investments in communities still very much experiencing harm from the 2008 financial collapse. The Inclusive Prosperity Act identifies job creation, the rebuilding of infrastructure, investment in transportation, education and healthcare, and environmental protection among its goals. It would also direct funds to international research and treatment of HIV/AIDS and to address climate change.

FTT supporters believe there is no time to delay, as the enduring harm faced by countless communities drags America deeper into poverty and forestalls a real recovery.

Given the amounts our Treasury expended on Wall Street bailouts, not to mention substantial profits racked up in the finance sector today, an FTT at these small rates and under these well-defined conditions seems eminently fair. Wall Street’s debt to Main Street is past due.
Flynn is managing director, Health GAP, a founding member of the U.S. Robin Hood Tax Campaign.
Source:
http://thehill.com/blogs/congress-blog/economy-a-budget/276119-a-small-sales-tax-on-wall-stree-reaps-big-rewards

Michigan RN Jeff Breslin on Right to Work for Less

Podcast: Play in new window | Download (Duration: 12:33 — 17.2MB) | Embed

While the nation was watching Honey Boo Boo, the Governor of Michigan was pushing through a radical bill during a lame duck session. Governor Rick Snyder just signed the “right to work” law in the state of Michigan. A state that was built on the strength of labor unions. The state that worked with those unions and corporations to build a strong middle class. We discuss this sad day with Michigan RN and President of the Michigan Nurses Association, Jeff Breslin.

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Jeff Breslin, RN