Special story about a big payday :: Molly Ivins

[nosmokes]

creators syndicate

AUSTIN, Texas -- Here's a special story about a big payday. Richard Strong, formerly of Strong Capital Management Co., will receive 85 percent of a sum estimated to be between $400 million and $700 million dollars. That's a lot of lettuce.
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Despite all the fine work George W. Bush and Co. are doing to convince Americans that the economy is tickety-boo and double jump-up jim dandy, for some reason many Americans remain stubbornly unpersuaded that things actually are getting better. Perhaps that would be because they're not getting better for most people. What, am I so ignorant I don't know that we've officially been in an economic recovery since November 2001?
Well, yes, but this is a funny recovery -- quite droll, really. According to a report for the Center for American Progress by Christian Weller and Radha Chaurushiya: "The distribution of economic gains is upside-down in this recovery, compared to previous ones. Profits received a larger share of national income than wages. Hence, profits soared to new record highs amid the first 'job loss' recovery since the Great Depression. Adding to families' woes were rapidly rising costs; housing education and medical care jumped at double-digit rates in recent years. To maintain consumption levels, many families borrowed more. However, the debt is taking its toll. Families are being squeezed as they have to repay more and more debt, while the labor market is still trying to find its foothold. Many households lose this struggle and default on their loans, leading to serious ramifications for the economy. ... For the first time in a recovery, the share of additional income that has gone to corporate profits is greater than the share that has gone to employee compensation -- i.e., wages and benefits."

And let me point out that the reason we're in an "economic recovery" is because of increased worker productivity -- we work harder, they get the money.

Folks, this is what the Bush administration is really about. While we're all distracted with 9-11 and the war on terrorism, it is steadily making this country less fair and making life harder for most citizens. How long are you going to put any credence at all into what they tell you?


COPYRIGHT 2004 CREATORS SYNDICATE, INC.
Originally Published on Tuesday June 1, 2004
 

[DinahMoeHum]

1. "tickety-boo and double jump-up jim dandy..." LMAO !!

Love that Molly !!


:evilgrin:

[havocmom]

2. Thanks for the post

I sometimes miss Ms Ivins on my rounds of morning papers. She is an endangered species: straight talk, good research and still manages not to be shrill. My hero!

[nosmokes]

3. the thing i don't get

is why it's always 2 days late. i checked creators.com last night and this wasn't up yet, even though it plainly states it's scheduled for relase 2 days ago. her columns are always like that.

she always manages to fire me up about an issue and make me smile at the same time. what a woman.

[havocmom]

4. I think the Ft Worth paper gets her first then it goes to syndication to

other sources.