“The trickle-down experiment that began in the Reagan years failed America’s middle class,” Senator Warren stated in a fiery speech at a January 7th AFL-CIO conference on increasing wages.
Pretty much the whole Republican Party, and if we’re going to be honest, too many Democrats, are overly cozy with the financial industry and make decisions that benefit the wealthiest 10 percent of Americans while leaving others to struggle. Over the past 32 years every penny of America’s economic growth has benefited the top 10 percent of earners, while the bottom 90 percent has been squeezed.
Economic gains have shifted overwhelmingly to the wealthiest top 10% since the beginning of Reagan’s ‘Trickle Down Economics’ experiment.
The populist Senator from Massachusetts drew enthusiastic applause from the Washington DC audience that included national labor leaders as she went on to state:
We know that democracy does not work when congressmen and regulators bow down to Wall Street’s political power. And that means it’s time to break up the Wall Street banks and remind politicians they don’t work for the big banks, they work for us.
During her 30-minute speech, Senator Warren brought up the Affordable Care Act and President Obama’s recent immigration actions as examples of David-beats-Goliath victories for progressives. While crediting Obama for recent economic improvements, she noted that things have not been improving much for middle class Americans:
Despite these cheery (economic) numbers, America’s middle class is in deep trouble.
Continuing her indictment of trickle down economics, Senator Warren said that members of both political parties agreed to cater to big corporations by “firing the cops on Wall Street” and turning the corporations loose “to do whatever juiced short-term profits even if it came at the expense of working families.” She continued;
If we are ever going to un-rig the system then we need to make some important political changes. We have seen David beat Goliath. We have seen the lobbyists lose.
Senator Warren offered no indication that she is considering a run for president as she is being encouraged to do so by many who see Hillary Clinton as too closely tied with Wall Street and the financial industry.
Sen. Elizabeth Warren at the AFL-CIO Raising Wages Summit”>Watch Sen. Elizabeth Warren at the AFL-CIO Raising Wages Summit in the video below:
Graph Credit: Economist Pavlina R. Tcherneva | Photo Credit: Facebook/Elizabeth Warren
Elizabeth Warren would have my vote in a second!! A truly dedicated woman who believes the middle class is worth saving!!
THE SNAGLETOOTHED, INDIAN, JUNIOR SENATOR FROM MA. !!! LOL!
Ha, ha…ha. Very clever there little johnny. I noticed you haven’t been able to debunk anything in her speech. But I guess that’s what you impotent little tea-people do. You just shout at the top of your ignorant lungs from the peanut gallery, and vote against your own best interests. My benevolent side tells me you’re more to be pitied than censored. I do feel badly for you johnny. Truly.
Don’t feel bad for me honey, Im a 46 year old white, small business owner that employs 10 people here in Ma. You may not like me because I’m a hard working guy that provides good jobs and healthcare and a 401k for my employees, but that’s ok, I have very thick skin and I can take it!! being as us small business men and women built this country and continue to be the tax base that fund all the “wonderful” programs that you progressives conjure up, I think I will just say you are welcome and tell you to save your nonsense for the uneducated people that feed into your BS!!!
Yes wonderful programs like competent infrastructure investment that, in turn engenders more economic growth-growth that you no doubt benefit, if even so indirectly that your little mind cannot appreciate. And programs like universal education, which started nose-diving in republican hands, so that we have hordes of people too ignorant to understand the complexities of a modern world but who are reliable republican voters (no doubt that is the plan). We will become a remnant of our former self, with this and that little group benefiting from its own scrappy resourcefulness (and very good for them) but none of us achieving anything great because that requires all of us to come together. If you are so against the idea of a country and so for the idea of I kind of anarchic existence, please go to Somalia.
All YOU need to know is that I pay enough in taxes for myself And you and your entire family. So, your welcome and STFU!!! SON!
I suppose this SB idiot would rather continue to enrich the 1% than to help bring the country back to prosperity. How sad that he calls himself a profitable small businessman.
Why is it sad to be a profitable small business man? I am all for personal responsibility! I don’t like corporate welfare anymore than welfare for people who are able to work but chose not to. Bailouts of any kind are not a good idea and enable those that make poor decisions to continue to do so without consequence. Don’t you agree?
Also, hoping u never experience a natural disaster. Unless ur private insurance co. provides all necessary relief. And if u don’t wanna pay taxes, hope ur rich neighbors and yourself can rebuild cause it will be expensive
i too hope never to experience natural disaster. It takes a community to actually rebuild a community. Govt. involvement only slows things down and is very inefficient. Govt. is not the solution it is the problem. less is more where govt. is concerned!
Yes absolutely, community and a whole lotta $$
I guess if you like all your tax money going to pay for wars, oil subsidies, and tax breaks for people wealthier than you, you’re a very happy guy.
Actually I would rather not pay any taxes at all if you really want to know! I am libertarian and believe in just enough government to protect our citizens from attacks from foreign invaders. Don’t believe our citizenry should be on the hook for protecting business interests around the world, that’s the cost of doing business and should be assessed to the businesses that profit from such. I think we should have secure borders and let in who we desire to be in this country….we can debate who that should be. Taxing one citizen to pay another citizen entitlements is unconstitutional and creates a disincentive to work hard and achieve the American dream. it also makes it harder for those who do work hard to achieve their dreams. I think the intrusive central government that is taking our liberties away every day under the guise of “security” and we increasingly live under State authority. Decentralize government and let the states have the power back….the way the founders intended.
Oh, you’re a libertarian are you? So you support gay marriage, are all for legalizing drugs, against any form of obscenity laws, and believe flag burning is protected speech? No? Then you are not a libertarian.
You are an authoritarian who just doesn’t want to pay taxes.
We govern ourselves here in the US. There is no separate entity called “the government”. No one is taking your money. It’s the cost of managing in this society. You just don’t want to pay it.
We all pay for poverty no matter what, even if we stopped all social programs. Poverty is a collective externality that libertarian ideals can not compensate for. We must mange poverty collectively, or it costs more, and drags the economy down. Funding anti-poverty programs centrally makes the impacts of poverty cheaper, and keeps the poor contributing to the economy. The money literally goes back into your own pocket.
Let’s wipe out any poor or disabled people by stopping any programs to help get people on their feet. Then they will die out and the top earners will have their way.
But note rich folks, you will have to scrub ur own toilets, shovel your own driveways, take care of your own kids, get ypur own food in restaurants, bcause there won’t be anybody left for these menial jobs.
Wouldn’t that be nice. A world of all cooks
Above response was to no tax johnny..
So who should protect our drinking water? Who should make sure our food is safe to eat? Who should remove the snow from our highways or even pay to have our highways and bridges maintained? Why should the government even protect us and keep us safe? Why is it their business? Why don’t we just get a bunch of guns and shoot enemy soldiers as they come into the country? We can figure out who needs killing or not.
All of the federal depts. that handle the concerns that you site have been proven to highly inefficient and some are down right unnecessary. One can even argue that these very depts. with their overbearing regulations are simply in place to act as tools of the rich and politically connected to limit completion and put competitors out of business. Do we need to be good stewards of our resources? Absolutely! Number one problem as I see it is money in politics….got to find a way to get the money out.
Better the intrusive govt. dictate our personal lives…Who to love,forcing women to have unwanted children…Christianity pushed down our throats. But stay away when it comes to greed you intrusive govt.
small business = good BIG govt. = bad any questions???!!!!
And if u can’t afford college u poor kids, who cares about the future of this country? Only the wealthy need apply.
the cost of sending a student to 12th grade $6000 per year. cost of first year at Harvard law school $54,850 and thats before books, housing, food….. lets take a look at the greedy professors that demand high salaries shall we? same professors that claim big business salaries are out of control….. the hypocrisy!
What makes it hard to obtain the american dream is the stagnant wages, the lack of jobs paying a livable wage because greed takes over. Tax breaks don’t create jobs, they only create more money in already loaded pockets
The founders also had no problem with slavery. Times change
do not paint a false picture of the Founding Fathers and the issue of slavery. The historical fact is that slavery was not the product of, nor was it an evil introduced by the Founders; slavery was introduced in America nearly two centuries before the Founders. In fact, Supreme Court Chief Justice John Jay noted that there had been few serious efforts to dismantle the institution of slavery prior to the Founding Fathers.
The Revolution was a turning point in the national attitude against slavery—and it was the Founders who contributed greatly to that change. In fact, one of the reasons given by Thomas Jefferson for the separation from Great Britain was a desire to rid America of the evil of slavery imposed on them by the British.
The point of bringing up slavery was that we have to keep with current times. Not everything that worked in the 1700’s still does.
pretty sure we can all agree that slavery has not worked for a very long time…..can we think of anything a little more current to illustrate the founding fathers may have had something wrong? I think there are some that believe “what the hell did those old guys know back 300 years ago”
Your company would be worth nothing without working class people with money in their pockets to spend at your business. Consumers are what drives this economy and NOT suppliers! Reagonomics has never worked and never will!
And an what would an egg be without the chicken? An economy is much like an indian tribe, there are Indians but also there are chiefs! No pun intended!! my point is it takes all kinds to make the free market economy go around. its the best in the world in case you have not been paying attention! if you think there is better then by all means, hit the bricks! if not, pull up your boot straps like I did and work at the company as a “WORKER” and then buy the place and maybe you can be the “CHIEF” some day! complaining don’t get you there son!!!!
I have owned my own company for over thirty years…. I’m smart enough to know that if the chief of the tribe eats 98% of the food the tribe won’t last long! Corporate America seems to not realize that! I’m also smart enough to know that “customers with money” are one of the most critical part of my business! Me making a lot of money for myself won’t keep the doors open! Ensuring the survival of the middle class will! If YOU don’t like paying taxes you can also “hit the bricks” !
If you are assuming that the top 2% consume more of anything than the bottom 98% then you wont be in business much longer son! I am not a 1 or even 2%er and probably never will be, that does not stop me from working hard, taking care of my employees or paying my taxes. we can debate what we should be paying for “with” our tax money but if you think we should be paying more in taxes then please go right ahead! You can do that you do know?????? Im sure that never crossed you mind though, you just want me to pay more!!! LOL!
If the economy is like a native American tribe our “tribe” has been seriously corrupted! Our “chiefs” take 98% of what the tribe” makes, leaves the table scraps for the “Indians” and pays off the tribal elders to tell the”Indians” that it’s “the way it’s supposed to be”!
The only thing the 2% consume more of is the money! Our government has been redistributing the wealth for decades. The only problem is they have been taking from the middle class and giving it to the rich! As a member of the 98% it boggles my mind that you aren’t more angry at that 2%! Just look at a graph of where the money is and how it travels UP! That is why we work so hard and pay our taxes….. So the 2% can get a tax break on their new corporate jet, and other such crap! They spend billions on politicians to make sure the system is set up to make them even more weathy! You are right about you will NEVER be part of that 2%. They seldom allow new members and any dollar that you have is a dollar they don’t have so you better watch your back! I never said either of US should pay more taxes……. If 2% have 90% of the money shouldn’t they pay 90% of the taxes… Works for me…… Lol!
Small business owner providing decent jobs? Kudos to u. You don’t get that u r the exception and not the rule? Because u r hard working and focusing on your own business, u are oblivious to what is going on for most others.
my only reply would be to work hard and employ your own workers and you too can be oblivious! what exactly is your situation that i am oblivious to???
That finding a small business owner that pays well and provides benefits is like finding a needle in a haystack
the trick is providing something that a business owner can not do without. hard work, honesty, and dedication to that business that some will not is a good start. Its about getting the attention of the powers that be you are a game changer….
My husband has been working for a large firm for years. Do n the recession they cut all salaries by 6%. They took away all sick time, 401k, and added more responsibilities for each worker. They kept on truck in. The company is now showing record profits, and my husband received RAVE reviews. They think he is an amazing asset. Finally after 6 yrs, they decided to give raises. He received the highest raises given out 1.75%! Still no sick days or 401k. His hard work is only helping the company. While searches ng for a better job, he has learned that his job offers more than what now exists. My point all along is this is the new sign of the times. People are feeling hopeless no matter how hard they work or how dedicated they are. Just doesn’t feel like much opportunity out there
Johnny J What’s the matter????,,,,,,,,,,,,,, So Spoke the Truth and you know that what she said WILL WORK because it HAD and ALWAYS DID IN THE PAST, And it WILL TODAY AS WELL!!!!! It Didn’t fall Apart Until ALL you GREEDY CORRUPT TEABAG/REPUKES Stepped in and F$%^&ked Over the AMERICAN PEOPLE in the NAME OF YOUR OWN F%^&*KING GREED!!!!!!!!!!!!!
My great great great grandfather was a Native American, grandmother also. My great, great, great, great, great grandfather was black. Does that make me a black native american ? On the outside, I look like a white potato. On the inside…I think I look like most everyone else…
I love this lady, and I enjoyed the speech, but there was a LOT of static and wind noises in the audio. At times I couldn’t tell what she was saying.