http://www.workdayminnesota.org/index.php?article_1_259By Rose Ann DeMoro
31 October 2010
OAKLAND, Calif. - To listen to the rhetoric that has stained so much of the 2010 campaign season, you'd think the biggest problems facing our nation are excessive government spending, workers' pensions, and inadequate tax breaks for corporations and wealthy Americans.
But countering this conventional wisdom, seldom questioned by most of the press, is made much harder by the reticence of even many liberals to challenge these assumptions.
In his great 2004 book "What's the Matter with Kansas," Thomas Frank made the compelling argument that the right was able to persuade workers to vote against their class interests by manipulating social issues, and described the failure of liberals to present an effective progressive alternative.
It's déjà vu all over again. By failing to respond to the mythology perpetrated by the right, far too many Democrats have largely ceded the populist ground, which is made even most astonishing by the continuing economic crisis, the alarming erosion of living standards, and the shocking growth in income disparity that has undermined the promise of the American dream for so many.
Consider two stats from the November, 2010 Harper's Index, published by Harper's Magazine. Net domestic profits earned by U.S. corporations since the fourth quarter of 2008 – $609 billion. Net decrease in the amount these companies spent on wages and benefits – minus $171 billion.
Or as David Cay Johnson reported in a column on tax.com reprinted this week on Huffington Post, average wages, median wages, and total wages all declined in 2009 – except for those at the very top of the income bracket whose income increased five fold in that time.
Over the past quarter century, the richest 1 percent more than doubled their share of total U.S. income from 10 percent to 23 percent, and the average CEO who was paid $27 for every dollar earned by an employee now gets a ratio of about $275 to $1.
FULL story at link.