The Democrats are obsessing about raising tax rates, while the GOP talks about closing loopholes.
We now know from a Princeton study that Superfund sites are causing higher rates of birth defects. We now know that there's no excusing the lack of moral urgency to do something about this environmental crisis. We see Flint, Michigan, for example, and the attention it's gotten, but what most Americans don't seem to realize is that this lead problem is not confined to just Flint. There are over 3,000 jurisdictions that have twice the lead levels in people's blood than Flint does. We're now seeing more people being exposed to the truth about environmental injustice in our country.
When the Romani people came and settled in Gioia Tauro in the '60s and the '70s, they took over a neighborhood much like Africans are doing now that became like their "ghetto". Obviously, there are immense differences in Romani culture - there is more of a distrust of the outside and less willingness to integrate that stopped it from happening. The illiteracy rate is still very high, and they are still very much keeping themselves sectioned off from the rest of the community. I don't think that's going to happen with the African community.
I think we have a bubble in the US in government bonds, because of the quantitative easing and the negative real interest rates, and to some extent, that increases asset values across the board, including in startups.
These 2.3 million prisoners, somehow we've convinced ourselves that's normal and rational, more prisoners than soldiers, more prisoners than China, more than one per cent of the adult population, seven times the incarceration rate of Canada or any Western European country.
I want to end tax dumping. States that have a common currency should not be engaged in tax competition. We need a minimum tax rate and a European finance minister, who would be responsible for closing the tax loopholes and getting rid of the tax havens inside and outside the EU. It is also clear that we have to reach common standards in our economic and labor policies. We cannot continue to just talk about technical details. We have to inspire enthusiasm in Germany for Europe.
The crisis was 2008, in 2015 - almost eight years later and the gap between where we would have been and where we are is huge and not closing. The implied unemployment rate is very high, labour force participation is very low, and the increase in wages in the second quarter was the lowest in 25 years. Before this turmoil, the U.S. economy was in better shape than Europe or Canada, but not strong.
In the Democratic Republic of the Congo, believed to have one of the highest rates of sexual violence in the world, girls and women face increased peril on the road to safety.
Ironically, though our society of affluence brings safety and stability, it doesn't bring psychological health. As wealth goes up, suicide and depression rates tend to go up. I read one study that compared women in North America with women in Nigeria, and the group with the highest rates of depression was urban North American women, which is the wealthiest. Now, there are obviously huge stresses that come with poverty, but the poorer the society, the more collaborative people have to be.
If hardship brought out the worst in people, the human race wouldn't have survived. Right after 9/11, for instance, the murder rate actually went down in New York City. In World War II during the Blitz, the civilians of London were bombed almost every night for six months, but psychiatric admissions declined.
In 500 years, English has changed a lot, and right now we're undergoing an extremely rapid rate of accelerated advancement in terms of technology, but I still have a hard time believing that we're going to stop speaking to each other. The role of architecture, in terms of communication, is not going to drastically change either. It's going to continue to create a cultural affect where people will be able to understand something beyond function that may otherwise be foreign to them.
In restaurants across America we see Latino workers in the kitchen who are being paid substandard wages. The saddest thing to me is that if we think about these workers, these are the people with the least access to good food. Yet they're often suffering from the highest rates of obesity and diet-related illnesses.
I'd like to help struggling homeowners who can't pay their mortgages, I'd like to invest in our crumbling infrastructure, I'd like to reform the tax system so multimillionaires can't pretend their earnings are capital gains and pay at the rate of 15 percent. I'd like to make public higher education free, and pay for it with a small transfer tax on all financial transactions. I'd like to do much more - a new new deal for Americans. But Republicans are blocking me at every point.
In the U.S., you couldn't have job creation with interest rates of 30 or 40 percent. They had a philosophy that said job creation was automatic. I wish it were true. Just a short while after hearing, from the same preachers, sermons about how globalization and opening up capital markets would bring them unprecedented growth, workers were asked to listen to sermons about "bearing pain." Wages began falling 20 to 30 percent, and unemployment went up by a factor of two, three, four, or ten.
Policies seemed almost deliberately designed to suppress new enterprise and job creation. How many Americans will start a business if the interest rates are 150 percent?
I don't want to overvalue Donald Trump as some historical rupture, and to admit that I do think Trump is an indication of a fairly profound change. But the change started a while ago, and it has taken a while to appear. Global capital, particularly western capital, has been in decline since the late 60s and early 70s. The softness appeared in the 60s, the profit rate fell off the table in 1972 - 73, and there have been very uneven recoveries. This has been an ongoing weakening of the productive economy of accumulation at a global scale, of capital's capacity to expand.
The black unemployment rate has to be twice that of the white rate in the US. If the national unemployment rate were 6.8 percent, everyone would be freaking out. We ought to not take too much solace in the 6.8 percent, but ask ourselves what can we do to bring that down to white rates, which are below 4 percent now. Some of that has to do with education, but that's just part of the story. You find that those unemployment differentials persist across every education level. I think it means pushing back on discrimination and helping people who can't find work get into the job market.
When you say the tax system benefits the rich, there are a lot of people who respond, "That can't be true, look at the rate of tax. The people who are rich pay a higher rate than you or I." Well, yeah, but if you don't have to pay taxes on a lot of your income, then your real tax rate is a lot lower. And if you're allowed to pay your taxes thirty years from now instead of today then you're a lot better off. People need to have a sophisticated understanding of how the system works to appreciate that the posted tax rate really has very little to do with the taxes people pay.
There are of course economic advantages to having Turkey as a member of the European club. It's a developing country with a large, reasonably well-trained labor force at a time when the European birth rate is dropping at a catastrophic rate and Europe is graying. It offers opportunities for greater trade and investment to the benefit of both Turkey and Europe.
We're losing biodiversity globally at an alarming rate, and we need a cornucopia of different plants and animals, for the planet's health and our own.
The climate, the economic situation, rising birth rates; none of these things give me a lot of hope or reason to be optimistic.
Outside of the killings, Washington has one of the lowest crime rates in the country.
More and more political analysts and weak-kneed politicians are advising the historically pro-life Republican Party to abandon its pro-life stance for political gain. My first response is that if you cannot trust a party on the value of defending human life, how can you trust it on issues like marginal tax rates?
Diabetes occurs at twice the rate in the African American community as it does in white Americans.
A first-rate organizer is never in a hurry. He is never late. He always keeps up his sleeve a margin for the unexpected.
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