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CITIZENS UNITED AND OVER-REGULATION OF BUSINESS

January 26, 2017

CITIZENS UNITED AND OVER-REGULATION OF BUSINESS

This is the week dating from seven years ago commemorating the Supreme Court’s finding in Citizens United, the decision that opened the floodgates for corporate purchase of America’s political system by allowing hundreds of millions of dollars in political contributions from corporations to influence electoral preferences, hundreds of millions that could be contributed in secrecy, some of which was given to so-called “non-profits” so as to be deductible from their taxes by such as the Kochs and others of the superrich. The “non-profit” corporations saw to it that the monies thus donated were given to the campaigns of those who would do the bidding of the Kochs and others with their libertarian views of less regulation and taxes. With such deductibility, you and I are called upon to pay what they didn’t pay either in increased taxes or liability to pay the increased national debt occasioned by such deductible contributions. We, thanks to Citizens United, are paying one way or another for our own political disenfranchisement.

Citizens United must be reversed or otherwise negated, and soon, if we are to maintain and enjoy any semblance of democracy, a system we have fought and died to defend and maintain, a system that provides for self-government as opposed to government by oligarchy, kings, dictators et al. We now have the power to resist, but if we do not, that power could vanish as the corporate cartel cum fascist lite not only takes over our government but also our power to resist. Witness the gag orders of Trump on government agencies just announced today, speaking of dictatorial tactics – and he’s just beginning.

As for over-regulation and new tax cuts for corporations (which have driven the Dow, finally, to the 20,000 mark), the exact opposite should be policy. Doesn’t anybody remember how under-regulation of big Wall Street banks led to crapshoots in the credit derivative and subpar mortgage markets that brought the world’s economies to their knees, the bailouts, the narrow escape from international depression, the upsurge in unemployment, insolvency of our banking system and Bush’s Great Recession that followed, a recession that cost us trillions in lost productivity and revenues to government from whose remnants we are still suffering today with the trillions in equity lost by homeowners whose mortgages were foreclosed which sent them and their families out in the streets?

It appears from the Republican plan to cut corporate taxes that they have abandoned their “can’t afford it” mindset since giving their corporate campaign contributors a tax cut and adding to our deficit is now claimed to be good public policy. What? I am reminded of the Bush tax cut to corporate America while we were at war, the first tax cut in wartime in American history, and while conducting that war on the “credit card” and how it ballooned our national debt. Adding to deficits is apparently good or bad as measured by the old adage of “It depends upon whose ox is being gored.”

I therefore conclude that Republicans, those loudly proclaimed protectors of the exchequer and the public purse, are trying to sell us a bill of goods and have it both ways, complaining incessantly about the  size of the debt while adding to it on behalf of their campaign-contributing friends such as the Kochs and, of course, Wall Street, whenever opportunity presents itself – even during a war! I therefore do not take their penny-pinching babble about the debt seriously; they have proven that they are irresponsible opportunists with the public purse.

Less regulation of corporate activities and less taxes on corporations’ already disproportionate share of the economy’s income and wealth while corporate workers haven’t had a raise in median wages adjusted for inflation in some 40 years of wage inequality? Have we no regard for recent economic history? Is there no end to what resources we manage to find for the rich and corporate class and Wall Street’s moneychangers and paper shufflers irrespective of national debt levels? Just who are these campaign contribution loving toadies in the Congress representing? In short, what is this?    GERALD      E

 

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