We deserve $47 trillion, not $1,400.
Here's why the next stimulus must consist of $7 Trillion in direct financial relief, not including a cancellation of all student debt and medical debt in a #DebtJubilee.
A THREAD. Please share--I think everyone needs to know this.
Here's why the next stimulus must consist of $7 Trillion in direct financial relief, not including a cancellation of all student debt and medical debt in a #DebtJubilee.
A THREAD. Please share--I think everyone needs to know this.
By now you've probably seen this chart on productivity and compensation, creating a wedge like decoupling in the 1960s.
If we fill in the wedge, how many dollars are represented?
If we fill in the wedge, how many dollars are represented?
According to RAND (not exactly a lefty institution), the dollars represented by that wedge is ~$47 trillion.
Every year we tack on ~$2.5 trillion.
Make no mistake: this money is being STOLEN from you.
You're not a charity case; you deserve reparations.
rand.org/blog/2020/10/a…
Every year we tack on ~$2.5 trillion.
Make no mistake: this money is being STOLEN from you.
You're not a charity case; you deserve reparations.
rand.org/blog/2020/10/a…
In 2018 the median wage was ~$50,000.
It should have been ~$100,000.
It should have been ~$100,000.
And what about the minimum wage?
As @JosephNSanberg rightly notes, it should be ~$23/hr, or about $48,000/yr, and tied permanently to improved inflation measures.
As @JosephNSanberg rightly notes, it should be ~$23/hr, or about $48,000/yr, and tied permanently to improved inflation measures.
https://twitter.com/JosephNSanberg/status/1350087750515449857?s=20
I'm calling for a #GeneralStrike to claw back the wedge.
We can begin with an immediate, one-time payment of $34,000 to every adult aged 15-64 (~206m).
This amounts to ~$2,800/mo since the pandemic began.
If we don't #ClawBack47Trillion now, we never will.
We can begin with an immediate, one-time payment of $34,000 to every adult aged 15-64 (~206m).
This amounts to ~$2,800/mo since the pandemic began.
If we don't #ClawBack47Trillion now, we never will.
To be perfectly clear, BEFORE the pandemic, the conversation should have been anchored at $47 trillion in reparations to the American people—just to get us back to even.
Remember: This was a DELIBERATE policy choice. Nothing about where we are has been “natural” or “inevitable.”
Remember: This was a DELIBERATE policy choice. Nothing about where we are has been “natural” or “inevitable.”
That’s what’s insidious about capitalism—it uses the language of "markets" and "innovation" and “creative destruction” to mask design flaws, pitting us against each other.
Stay tuned for what I humbly think we should do with the rest of the ~$40 trillion we're all owed.
Stay tuned for what I humbly think we should do with the rest of the ~$40 trillion we're all owed.
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