Taughannock Falls

Taughannock Falls
from: althouse.blogspot.com

Wednesday, May 30, 2007

An Encouraging Sign?

In New Hampshire, Hillary Clinton just put out her "vision for economic growth with fairness." In her fact sheet, posted here on her campaign's website, Senator Clinton points out:


  • The fruits of our modern global economy are showing up in the corporate bottom line, not in workers’ paychecks. CEOs have seen their pay go from 24 times the typical worker’s in 1965 to 262 times the typical worker’s in 2005. Last year, the share of national income going to corporate profits was the highest since 1929 – while the share going to the salaries of American workers was the lowest.

  • Globalization and economic policy dynamics are generating rising income inequality. In 2005, all income gains went to the top 10% of households, while the bottom 90% saw their income decline – despite the fact that worker productivity has increased for six years. In 1970, the top 1% of households held roughly 9% of our nation’s income. In 2005, they held 22% -- the highest level since 1929.

  • Harder for America’s middle-class and working-class families to make ends meet. Costs are up: health care premiums are up 87 percent since 2000. While productivity growth has gone up 18%, family incomes have gone down $1,300.

  • This Administration’s policies have fostered these economic outcomes.

  • Large corporate interests receive protection and benefits

  • No-bid contracts to Halliburton

  • Significant tax breaks to oil companies

  • Tax incentives to corporations shipping jobs overseas

  • A $1,000-per-patient subsidy to private Medicare plans

  • Every baby born today starts life with $29,000 of our national debt on his or her shoulders – the largest birth tax in our nation’s history."

So? Has the good Senator from New York begun reading my blog (where two of New York State's most beautiful waterfalls are prominently featured) and decided to throw caution to the winds, squarely take on the plutocrats and bring a heady populist campaign to the streets? Maybe she's convinced that my argument posted on Saturday has merit? Sadly, probably not... Nonetheless, at least she is willing to depart from the corporate "mainstream" message far enough to acknowledge the dismal reality faced by nine out of ten Americans. That's a start.

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