On August 20, 2012, Robert Reich, Public Policy Professor at the University of California, Berkeley, writes in The Huffington Post that while Mitt Romney hasn’t provided details we should be grateful he’s selected as his vice president candidate a man with a detailed plan Romney says is “marvelous,” “bold and exciting,” “excellent,” “much needed,” and “consistent with” what he’s put out.
Professor Robert Reich fails to address the follow:
Where does the money come from to pay for public service jobs and who will own the non-human factor productive assets of the companies contracted by the government?
The rich do not need
any further tax breads unless coupled to the stipulation that future economic growth investments are broadly owners by business corporation employees and other citizens. What should be the tax policy?
Adding money to defense ONLY further enriches the contractor ownership class who rely on defense spending. This is more make-work boondoggle fraudulent taxpayer spending to prop up the economy. This is a BAD, BAD maneuver because we already are way over prepared for our defense and spend wastefully.
Reducing investment in education, infrastructure and basic research and development is just plain STUPID without stipulation for broadened productive capital ownership!
Of course, none of the policies to achieve what Reich has described in the Romney/Ryan Economic Plan will reduce the deficit, or for that matter the Obama Economic Plan. The ONLY way to reduce and eventually eliminate the deficit is to aggressively embark on a pro-growth strategy, which simultaneously empowers EVERY American to participate as a private, individual owner and benefit from the income generated from the future investments.
Reich is really good at defining the problems, except for addressing the BIG PROBLEM of concentrated ownership of the means of production that does not require human workers and its solution.
What everyone around you REALLY NEEDS TO READ is posted at http://foreconomicjustice.org/4311/
As a nation, we continue to ignore the possibility of democratizing future ownership of labor-displacing productive capital technologies and rising ownership incomes as a market-generated means of eliminating wage slavery, welfare slavery, debt slavery and charity slavery for the 99 percent of humanity. Binary economist Louis Kelso argued that the Keynesian model fails to recognize that “when capital workers replace labor workers as the major suppliers of goods and services, labor employment alone becomes inadequate because labor’s share of the income arising from production cannot provide the progressively better standard of living that technology is making possible. Labor produces subsistence at best. Capital can produce affluence. To enjoy affluence, all households must engage to an increasing extent in capital work”
For decades employment opportunity in the United States was such that the majority of people could obtain a job that could support their livelihood, though in most cases related to a family, it required the father and mother to both work, if they aspired to live a “middle class” lifestyle. With “Free Trade” those opportunities began to disintegrate as corporations sought to seek lower cost production taking advantage of global cheap labor rates and non-regulation, as well as lower tax rates abroad. This resulted in a chain reaction forcing more and more companies to out-source in order to stay competitive (thus the rise of China, Indiana Mexico, and other third-world nations economies). At the same time tectonic shifts in the technologies of production were exponentially occurring (and continue to do so), which resulted in less job opportunities as production was shifted from people making things to “machines” of technology making things,
The combination of cheap global labor costs and lower long-term invested “machine” costs has forced the value of labor downward and this will continue to be the reality. Our only way to far greater prosperity, opportunity, and economic justice is to embrace technological innovation and invention and the resulting human-intelligent machines, superautomation, robotics, digital computerized operations, etc as the primary economic engine of growth. But significantly, unless we reform our system to empower EVERY American to acquire, via insured capital loans, viable full-ownership holdings (and thus entitlement to full-dividend earnings) in the companies growing the economy with the future earnings of the investments paying for the initial loan debt to acquire ownership, then the concentration of ownership of ALL future productive capital will continue to be amassed by a wealthy minority.
Companies will continue to globalized in search of “customers” with money or simply fail as exponentially there will be fewer and fewer customers to support their businesses worldwide. Why, because the majority will be disconnected from the income derived from the non-human means of production that is replacing the need for labor workers. Education is not the solution, though it is critical for our future societal development. But except for a relative few, the majority of the population, no matter how well educated, will not be able to find a job that pays sufficient wages or salaries to support a family or to prevent a lifestyle which is gradually being crippled by near poverty or poverty earnings.
Already, GDP growth is at a near standstill. Lowering taxes on the wealthy ownership class will not much impact this reality because they will not invest unless their are customers to create demand. This will continue to be the reality unless we reform the system to connect the majority of people to the property rights of the non-human production of products and services while simultaneously spurring economic growth, and entitle them to the earnings of capital (dividends, interest and rent) as a second income source to supplement their earnings from their labor in the short-term, with the long-term lifetime goal of earnings from capital ownership being the primary source of their income. This is the ONLY way to strengthen individuals and empower them to become personally responsible for their lives and not depended on taxpayer redistribution and national debt to sustain welfare support, open or concealed.
http://www.huffingtonpost.com/robert-reich/romney-ryan-budget_b_1812560.html?utm_hp_ref=politics
