SYDNEY, Jan.21 (IPS) – Imposed or not, Trump is outside the White House. Trump goes with 34% approval ratingFar behind his predecessor Barack Obama 60%. The majority, 54%, said Trump should be removed from office before January 20, according to New CNN pollFor his role in the events of January 6, when Trump incited his supporters to storm the US Capitol.
A battle for America’s soul
“Has America lost its soul?” Peter is a singer, The famous philosopher of ethics and ethics. More than 70 million, or 47% of Americans, voted for Trump. With 21,000 votes in three major states, Trump would have defeated Biden.
The list goes on. But most importantly, he undermined the country’s highest office by using it to promote his personality and business interests.
However, many Americans ignored Trump’s immorality and voted for him in an election Biden declared:The battle for America’s soulNot only did Trump get the loudest vote ever for a president in office, he increased his vote by more than five million from 2016.
What caused this moral or ethical divide in America? Why Biden failed to win half his soul? Faultlines in America run through the middle, driven by decades of growing wealth and income inequality.
Disparity in wealth
Between 1990 and 2020, as American billionaires increase Wealth By 1,130%, the average wealth in the United States increased by only 5.4%. The combined net worth of America’s $ 614 billion billionaires grew by $ 931 billion during the pandemic, exacerbating inequality over seven months starting in mid-March, a week after Trump declared a national emergency.
The United States has had no decent income or wealth redistribution at least since the 1960s. From 1963 to 2016, it was the lowest 10% of Americans Transformed from no assets at all to $ 1,000 in debt. Meanwhile, families in the top 10% have quadrupled their wealth. Even more shocking is that families in the top 1% grew in wealth sevenfold between 1963 and 2016.
For most workers in the United States, Real wages are barely budging In decades despite low unemployment in some periods. For example, average real wages in Trump’s last years had roughly the same purchasing power as they had been 40 years ago. Average real hourly earnings in March 2019 amounted to: $ 23.24 USD in 2019 $, Matched only to the March 1974 long peak, and only about $ 3 above the early 1960s level.
Moreover, the wage gains in recent decades have been mostly To the higher-paid workers. Since 2000, average weekly wages for workers in the lowest 10th of the dividend income have increased 3% (in real terms) while real earnings for the top 10 have increased 15.7% to $ 2,112 per week – nearly five times the median income of the lowest tenth. ($ 426 USD). Real wages have either gone up or down In the middle and bottom of the distribution, real wages for the 90th percentile of the labor force as a whole increased from 1979 to 2019.
Earning disparities by race, color, gender, and ethnicity Even worse. In the 90th percentile, wage growth was significantly higher for white workers and lower for black and Latino workers. In contrast, the median (50th percentile) and lowest (10th percentile) wages grew lower (for example, for women) or decreased in real terms (for example, for men).
Gains like these and wealth inequality It cannot be explained by skills or education levelsOr, by including benefits, by looking at gross compensation, or by changing the price deflator (adjustments for inflation). On the contrary, it is due to policy decisions that reduced the influence of most workers to achieve faster wage growth.
The first is job insecurity, as admitted by Alan Greenspan V. Testimony in the Senate in 1997: “The atypical restriction on increases in compensation … was mainly the result of increased insecurity among workers,” which is partly due to “elimination of local restrictions”. The situation has gotten worse since then.
to me The 2016 study He asserted that the US job market has become “more insidious”. The emergence of the “gig economy” is still “too small to affect the broader workforce”. There are much deeper reasons: job creation has often been sporadic and inadequate, while new jobs are usually inferior to their predecessors.
The three-year period 2017-2019 saw employment growth and a decline in unemployment. However, 6.3 million workers – ages 20 and over – were They were displaced from their jobs. Only about 65% of those who lost their long-term jobs could find similar jobs after three years, with many earning less.
Growing inequality and insecurity is the result of “the stubborn dependence by policymakers on markets to do government work, and racism and discrimination on the basis of sex, which are sometimes codified in law, and which blinds policymakers to injustice and economic sense”, Heather Boshi Notes in her recent blog at the International Monetary Fund. The growing monopoly power of firms, the increasing financialization of the economy, and the concomitant rise of the rentier class, not only led to polarization, but also fundamentally weakened the US economy.
The generous tax cuts that companies have received since the 1980s have gone through Stock repurchase, fattening outrageous executive packagesPay dividends instead of reinvesting to increase productivity and create more decent jobs.
The roots of the economic problems in the United States are deep-rooted: “By early 2020 even before the pandemic reached the United States, manufacturing jobs had stopped, and factories had fallen workers in four of the six months through March,” according to The Wall Street Journal.
Trump’s trade war with China also did not reduce overall US trade imbalances that continued to grow, rising to a record high of 84 billion US dollars in August 2019. US importers switched to goods from Vietnam, Mexico, and other countries, but the trade deficit with China increased. . Amid the epidemic, to where it was at the start of the Trump administration.
Trump is still a hero!
But Trump is likely to continue, despite his approval ratings right before leaving office Among the worst since Gallup He regularly began to track presidential approval from the 1940s. Equally with Jimmy Carter, Trump still performs better than Harry Truman 32%, George W. Bush 31% and Richard Nixon 24%.
The CNN poll has a partisan bias – nearly all Democrats (93%) favored removing Trump from office before Jan.20, while only 10% of Republicans felt the same. Among Republicans, he has an approval rating It remained largely positive Even after the deadly Capitol attack; Roughly nine in 10 Republicans approve of Trump’s job performance.
Hence, ending Trumpism will take more than isolating Trump. The Bidden-Harris agenda should include the breach of confidence of Republican Theodore Roosevelt as well as the New Deal of Democrat Franklin Roosevelt and the social agenda for dealing with the socioeconomic men rooted in America undermining its democracy.
Teddy Roosevelt faced the bitter struggle between capital and labor head-on in 1901, threatening to nationalize coal mines and stabilize in favor of labor. JP Morgan, then the most powerful financier, took over the position barely six months into his presidency. He was a fisherman, but he set aside about 200 million acres of national forests, reserves, and wildlife refuges as part of a “square deal” for local programs.
Teddy can’t be intimidated by the company’s capital. He was a conservative, he initiated far-reaching progressive reforms and started the conservation movement. He transcended party politics and did what he believed was true of America as a whole.
He broke with the Republican Party as he became more conservative, and challenged his Republican successor, William Taft, in the 1912 election after Taft had failed to deliver on his promise of progressive reforms.
Teddy’s fifth cousin, Franklin Roosevelt led the US economy out of the Great Depression through his ambitious new deal, defying fiscal conservatism and pressure from Wall Street. Thus he redefined the influence of the federal government on American lives.
His vision of global institutions laid the foundation for the nearly three decades of post-World War II golden age. It also stood firmly against European colonial powers to advance the decolonization agenda.
© Inter Press Service (2021) – All rights reservedOriginal source: Inter Press Service