Working Life

Michael Bloomberg is channeling Jay Gould, the robber baron of the 20th Century. Gould once said, roughly, that he could get one half of the working class to kill the other half. Bloomberg is on that agenda, setting workers and parents against each other, with the bottom line being yet another chink likely to be taken out of a middle class-paying job.

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A big smooch to you from Facebook, oh unsuspecting citizen. No, it’s not a new wrinkle that will drive you mad on your profile page. It’s the usual: Facebook just “likes” you to pieces for your personal generosity. Your Facebook tax giveaway generosity.

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Yesterday, I wrote that the president’s proposal to hike the minimum wage from $7.25 to $9 was a meek proposal. And that it was pure rubbish to argue, as he did, that that hike would help people get ahead. Just to add today a bit more.

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Well, bravo for the president for going to fight for a rise in the minimum wage. But, let’s be clear — this isn’t going to do much to raise people out of poverty.

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No more “I ate bad food last night” or “the kid kept me up at night with a fever” as excuses to stay away from work. It’s to save the planet I’m staying home.

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Sometimes taking down the dumbest arguments repeated by “free market” adherents really feels like shooting fish in a barrel. Most of the “theories” are just rhetoric, with no substance beyond a political goal. Here’s another one: the rich will feel your state if taxes go up. Not.

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To state the obvious, taxes hurt the most vulnerable more than the rich — even if the rich squeal (see: Phill Mickelson). No better example on this point is the payroll tax, which, when most or all of your income comes from wages (as opposed to investment income, which is where most of the wealth and income for the rich comes from), is really felt.

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Ok, a little test to see who has been paying attention. What do you see in this story that seems really familiar?

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A long time ago, I wrote about the bankruptcy of the ratings agencies, pointing out that S&P and Moody’s were a cog in a corrupt machine. The only startling fact in the saga about the ratings agencies is that anyone paid any attention to them anymore — the world of the chattering classes would shake every time one of these clowns issued some pronouncement about the economy, even as evidence mounted about their role. So, now, it appears at least S&P will face some judgement — though it is to be seen how harsh.

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I don’t know whether anything will make the austerity mongers around the world — from Wall Street, to the halls of the political leadership — stop for a moment and think, “what the hell are we doing?” Long unemployment lines don’t make them pause. So, if people freeze to death or shiver through cold weather because they can’t pay heating bills, will that matter? Welcome to the reality in Greece.

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