The State of Working America
The State of Working America, at least here on Reality Planet, sucks. Let's hope President Obama is saving his passionate defense of American workers for his big Labor Day speech to the AFL-CIO in Cincinnati tomorrow, because his weekly address proposing new retirement savings incentives is about as Blue Dog pro-Wall Street as it gets.
We’ll also build on these steps by working with Congress. As part of my budget, I’ve proposed ensuring that nearly every American has access to a retirement savings account through his or her job. This plan would make it possible for workers to automatically enroll in IRAs through payroll contributions. And the budget simplifies and expands a tax credit for millions of families, matching half of a family’s savings up to $1,000 per year and depositing the tax credit directly into a retirement account.
Every diner waitress trying to live on two bucks an hour and vanishing tips can rest easy - she can put a dime a week in a 401K.
Read the full transcript here.
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1 comment:
I'm right here on Reality Planet with you, Yellow Dog. Workers' wages, in terms of real income, have been frozen for many years. CEO pay, meanwhile, has skyrocketed. Yes, the cost of health care has been steadily rising well above the inflation rate, so what have employers done about it? Kept their workers' wages frozen and pushed the burden of paying for health care more and more on the worker, or, in some cases, has stopped paying for workers' health care altogether. Meanwhile, CEO pay continues to skyrocket. Millions of American jobs get shipped overseas; workers' wages here remain frozen; and CEO pay continues to skyrocket. Corporations and wealthy individuals get gigantic tax breaks TWICE; workers' wages remain frozen as their benefits packages shrink and they are forced to contribute increasingly to their own retirement fund; and CEO pay continues to skyrocket. Something radical must happen.
This country is in dire need of a massive unionization effort. Since government has all but turned its sorry back on workers, they must organize as never before and force these CEOs back into line, or throw them out on their asses completely. The status quo is absolute bullshit, and American workers MUST rise up and fight.
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