Robert Reich, former U.S. Labor Secretary in the Clinton administration recently wrote in the Huffington Post how a few CEO's of several large corporations visited with him to express their concerns how middle class income inequality in the United States has harmed the economy, slowed economic growth and threatens future economic stability.
Middle class income inequality and the transfer of wealth from the middle class to the wealthy are one and the same, and if that sounds familiar it is because you read it here first in "PolitiDose" many times over since 2007. Middle class income continues to go no where while the incomes of corporate America, their CEO's and executives continue to skyrocket.
The CEO's who visited with Reich pointed out what every one should know, a thriving middle class is needed for a healthy economy because of their purchasing power to buy goods. With out a middle class, commerce becomes stagnant with less buying power which results in fewer goods being produced. It brings on the domino effect (and I do not mean pizza) of less jobs, a weakened economy and everything that goes with it. Countries with out a strong and viable middle class can be defined as "those that have and those that have not." There is no in between.
I wrote a commentary titled,"Corporate America: Leaving The Average American In The Dust" dated 11/23/07 here in "PolitiDose" and my first two sentence was: "Corporate America has the power to transform the quality of life for its employees and the people of this country. They have failed to do so because of their greed." And today, seven years later, nothing has changed. My brother always said there are only two ways to make money. You can earn it or you can steal it. I do not think those who ask for special treatment and those who are responsible for the income inequality today have earned it.
The CEO's who are concerned about this income inequality have expressed their willingness to pay more taxes themselves and for their companies. The republicans answer to them has been "just voluntary pay more taxes when you file." Serious problems deserve serious answers and actions, something that is in short supply in Congress. The lack of addressing the problem and raising the minimum wage are two great examples.
In this writers judgement the best way to take positive action on the matter is to elect enough democrats to Congress in the November elections to give them control of both houses of Congress. I think the President should be given the opportunity to pursue his policies he has talked about on the subject matter. The republican controlled House will not even let their own members bring up legislation to vote on in order to deny the President an opportunity to move the country and its people forward.
Income inequality and the transfer of wealth has gone on far too long and the slow disappearance of the middle class has to be reversed. Prior to the election of Barack Obama, the republicans controlled the White House 20 or the previous 28 years. They had more than their chance. It is time for President Obama to have his chance to continue to move the country and its people forward with his own policies.
This commentary written by John Lucia
