In the discussion thread: Growth of Income Inequality Is Worse Under Obama than Bush [View all]
Response to ProSense (Original post)
Thu Apr 12, 2012, 11:53 AM
Karmadillo (8,568 posts)
5. Excellent article. Thanks for posting. Stoller does a good job of analyzing Obama's approach and its
contribution to encouraging the upward flow of wealth and power.
1) President Obama is on the verge of approving a Free Trade deal with Colombia, despite the murder of union organizers in that country. Not content with establishing similar deals with Panama (which has to do with enlarging tax havens) and South Korea, the administration is now embarking on a much vaster Trans-Pacific Partnership deal with countries all over Asia. And itís being negotiated entirely in secret, with corporate and government officials the only ones allow to be in the room. Trade is a significant driver of lower wages.
2) President Obama just pushed for and signed the JOBS Act, which is a substantial relaxation of regulations and accounting requirements on corporations seeking to go public. Bill Black has many four letter words to describe this bill, but itís basically a license for Wall Street to commit fraud in the equity markets. The SEC is beginning to promulgate instructions on how this will work.
3) President Obama just refused to issue an executive order forcing campaign spending disclosure by government contractors. President Obama actually criticized the Supreme Courtís decision in Citizens United at a State of the Union address, but as with yesterdayís speech on raising taxes on millionaires, there was actually no there there.
There are many other policy fights, and the President has engaged constructively in some areas and negatively in others. He has been undermined as well as aided by his staff. And heís just one man, heading up a franchise of thousands of other political actors. Itís been clear, though, since before he took office, that his is a consistent policy architecture on the core questions of power and wealth. In the orbit of this President, power and wealth flow upward.
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Excellent article. Thanks for posting. Stoller does a good job of analyzing Obama's approach and its
|Gold Metal Flake||Apr 2012||#7|
|Egalitarian Thug||Apr 2012||#14|
|sabrina 1||Apr 2012||#31|
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