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(Image: AFL-CIO / paywatch.org)

Just when you thought things couldn’t get much worse on the American inequality front, you encounter reports like the new “Executive Paywatch” report from the AFL-CIO.

Click here to check out the website — it includes a section in which you can view CEO pay by state. And while the top guys (and they’re almost all guys – 67 out of 69) in North Carolina aren’t as obscenely wealthy as they are in New York or Texas, the gap remains huge; the ratio of CEO pay to that of the average worker in North Carolina is 108 to 1.

 

 

 

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David Koch

Conservative plutocrat, David Koch

It’s no secret that America’s economic inequality continues to metastasize at a remarkable pace. Still, when one actually takes a moment to look at and consider the vast holdings of the nation’s richest families (and the avarice often represented therein) it can take your breath away. For some cases in point, check out the following article entitled “A Third of a Trillion for Three Families,” by tax lawyer Bob Lord for the website Inequality.org.

“How concentrated has America’s wealth become? In the not-so-distant future, if current trends continue, a mere handful of Americans will together hold over $1 trillion in wealth. Read More

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Trans-Pacific PartnershipOne of the things notably and happily absent from President Obama’s State of the Union speech this week was any push for the pro-corporate/globalization agenda found in the move to revive “Fast Track” and approve the so-called Trans-Pacific Partnership (TPP). About which, all a caring and thinking person can say is “thank goodness.”

As explained in this commentary from last October (“NAFTA on Steroids?”), the TPP is a potentially grave threat to the well-being of American workers and consumers and our national security itself. By ceding democratic powers to corporations and international tribunals, the TPP threatens to subject American labor, environmental and consumer protections to being overruled and dismantled as unlawful restraints on trade. Meanwhile “Fast Track” is an already discredited idea that would bestow powers on the President to unilaterally negotiate and control trade agreements that has been appended on to TPP legislation in Congress.

The President’s failure to promote the proposal is being hailed by opponents as an extremely positive sign — especially given the public opposition of Senate Majority Leader Harry Reid. According to the good folks at Public Citizen’s Global Trade Watch program: Read More

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Obama at lunchIf you’re sitting at your computer waiting for the President’s speech to commence at N.C. State (or in the audience staring at your smart phone), here are a few interesting links to keep you occupied:

First off, it looks like our leftist-socialist President continues to fail in his crusade to bring down capitalism. The Charlotte O reports this morning that Bank of America is the latest financial institution to report huge profits — in this case, the largest in six years.

Meanwhile click here to see the history of the Dow Jones Industrial Average — which has been going pretty much nowhere but up throughout the Obama years. Back to the drawing board, comrades!

As for Obama’s prominent NC critics, both Gov. (“It’s all Bev’s fault”) McCrory and Sec. Aldona (“Heck of a job, Donie!”) Wos are apparently showing up to pay their respects to the Prez today. Good for them for rising at least slightly above partisan politics. Perhaps they’re feeling some kinship with someone struggling in the polls.

If she gets to say “howdy,” though, Wos might want to ditch the “everything is Obama’s fault” rap. As Sarah Ovaska reported this morning on the main PW page, Read More

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Given that this is Election Day in many places around the state and nation,  it’s fitting that Raleigh’s News & Observer editorializes this morning against one of the great threats to fair elections in our country — namely, the vast sums of “dark money” being dumped into buying elections at all levels by fat cat special interests like the infamous Koch Brothers.

Athough the latest news stems from developments in California, this is not just a far-off problem for North Carolinians. As the editorial notes:

“The Kochs’ reach extends to North Carolina, where Americans for Prosperity, a group they started, has been orchestrating ads against Democratic U.S. Sen. Kay Hagan, who’s up for re-election in 2014. The campaign is gratuitous and hooked to an obscure issue, the carbon emissions tax, something few people are familiar with. It presents, however, an opportunity to attack a Democrat. Read More