Nel's New Day

November 22, 2013

We Need to Return to JFK’s Dream

Today is the 50th anniversary of President John F. Kennedy’s death from a gunman in Dallas (TX). For weeks, the media has discussed the controversy surrounding his murder and the tortured activities of the Warren Commission that investigated the killing. Fox network, however, took a slightly different approach.

Fox News host Chris Wallace, son of 60 Minutes journalist Mike Wallace, tried to convince Kennedy’s niece, Kathleen Townsend Kennedy, that the president was “quite conservative.” When Wallace insisted that the president lowered taxes because he thought this would spur the economy, Townsend Kennedy pointed out he lowered the top marginal rates from 90 percent to 70 percent, over double today’s 33 percent.

Wallace claimed that Kennedy was a “Cold Warrior”; Townsend Kennedy responded that he resisted generals who wanted to declare war during the Bay of Pigs incident.

Conservative columnist George Will asserted, “Well, he was a conventional liberal before liberalism changed in the late 1960s. He … did indeed believe in supply side tax cuts, increased revenues from lower rates.” According to Will, that was the reason Kennedy was killed, because he was too conservative. “We happen to know he was killed by a silly, squalid, little communist,” Will finished.

Fox contributor Brit Hume followed up by saying, “I think he was the coolest president we ever had. I think, however, despite the thinness of the record that [Wallace] just mentioned and that George mentioned, he has been the subject of the most successful public relations campaign in political history. It is a legend bordering, I think, on myth.”

Missing from Wallace’s narrative is that conservatives hated Kenndy because he supported equality for blacks, suggested that the U.S. should agree to a nuclear arms treaty with Russia, and planned to withdraw U.S. troops from Vietnam after the 1964 election.

For his book JFK and the Unspeakable, endorsed by Robert F. Kennedy, Jr., Jim Douglass’  information from declassified government documents showed the actions of a man who was definitely not conservative:  

  • A major conflict with military contractor United States Steel because the corporation double-crossed the president by raising steel prices despite a deal between the two parties.
  • Refusal to start an all-out nuclear war despite regular pressure from the military-industrial complex.
  • A secret arrangement with Russia’s Nikita Krushchev for a nuclear disarmament treaty.
  • Open support for Castro in the Cuban Revolution.
  • Efforts to end the U.S. occupation of Vietnam.
  • Refusal to stage terrorist attacks on U.S. soil that would be blamed on Cuba.

Fifty years after Kennedy’s assassination, the government shows the destruction of conservative politicians. Minimum wage is 20 percent lower than 45 years ago, and Social Security benefits are 25 percent lower than 30 years. At the same time, 60 percent of the pensions disappeared, and the recent recession wiped out much of the retirement that some people had saved in 401(k)s.

Sen. Elizabeth Warren (D-MA) is a leader in moving the United States back to Kennedy’s dream. In response to a study by Dr. Arindrajit Dube, a University of Massachusetts Amherst professor who has studied the economic impacts of the current minimum wage, she said, “If we started in 1960 and we said that as productivity goes up, that is as workers are producing more, then the minimum wage is going to go up the same. And if that were the case then the minimum wage today would be about $22 an hour.” Dube pointed out that growing the minimum wage at the same pace as the increase for the top 1 percent of income earners would make the minimum wage closer to $33.

Warren also spoke about other changes in the past 50 years:

“During the Great Depression and the years after World War II, our country made two remarkable decisions. First, in a boom-and-bust world, we created a basic set of fair rules that ended the financial panics and provided almost a half-century of economic stability and growth. Second, we invested in ourselves and our children, creating the basic building blocks for a strong middle class and a strong economy: education, roads and bridges, mass transit and rail, water and sewage, research, and energy. It worked. America’s middle class prospered. We celebrated success, but we always paid ahead, making sure that the basic ingredients would be in place so the next generation could do even better.

“But about a generation ago, Washington turned in a different direction and changed the rules.

“Financial cops were taken off the beat, and government regulators began to work for those they were supposed to regulate. We fought wars we didn’t pay for, recklessly piling on debt. Powerful companies got subsidies, and ordinary families and small businesses had to pick up the burden. We didn’t repair our roads and bridges, and we cut back on research.  We stopped investing in our future.”

An important piece of investment in the dream and the future is Social Security. Those wailing about how the program is going broke are forgetting about the free ride that the wealthy is getting. The current cap on deductions is under $114,000, much less than the $200,000 in 2013 several years ago. The wealthy also make most of their money now from capital gains which Social Security does not tax.

The growing wealth of the top percent of people in the United States might bring up the question of how people manage to spend hundreds and hundreds of millions of dollars. People can have only so many mansions, jets, yachts, cars, and other expensive items yet still have left-over money. If that’s your problem, here’s help:

  • A $95,000 truffle: Russian billionaire Vladimir Potanin recently ordered this at Nello, a Wall Street restaurant. To him, $95,000 wouldn’t seem like much money: the relationship of $95,000 to $1 billion is the same as $.95 to $10,000. Before going to Nello, however, you might want to read Yelp reviews—two stars and complaints about inedible food and rude service.
  • A $5,000 hamburger: In Las Vagas at Mandalay Bay, the Fleur de Lys restaurant offers the “Fleurburger 5000, a Kobe beef patty “topped with a rich truffle sauce and served on a brioche truffle bun.” For that price it comes with a bottle of 1990 Chateau Petrus served in Ichendorf Brunello stemware that you get to keep.
  • A $500 milkshake: The Powder Room restaurant in Los Angeles includes “special stuff: edible gold, Belgian chocolate, and a crystal ring.”
  • A $117,000 bottle of 1811 Chateau d’Yquem: If that’s not enough, the Le Clos wine shop in Dubai International Airport offers three 12-liter bottles of 2009 Château Margaux for $195,000–each.
  • A $142 million piece of art by Francis Bacon: At the same auction, three other pieces sold for more than $50 million; 11 for more than $20 million; and 16 sold for more than $10 million. An Andy Warhol piece sold for almost $60 million.

As Thomas Galbraith, of online auction house Paddle8, said, “Since the recession, the wealthy appear to be becoming even wealthier, while middle-class wages are more stagnant.”  Katherine Markley, artnet’s lead market analyst, added, “The 400 richest Americans [are] now worth a cumulative $2 trillion, up $300 billion from a year ago and with an average net worth of a record $5 billion, an $800 million increase from a year ago.”

As the first Catholic president of the United States, Kennedy swore he would not let his religion rule. His inspiring call to people of this nation led to the establishment of the Peace Corp, an organization that still sends thousands of U.S. volunteers around the world to help the needy. He was committed to land a human being on the moon; his support of space exploration helped that happen six years later. His Area Redevelopment Act helped states suffering from high unemployment rates, his laws ended segregation in interstate travel facilities, and his executive order stopped discrimination in housing sales and leases financed by the government. Kennedy also promoted the arts through concerts, plays, and musicals at the White House.

Fifty years later, the GOP wants its religion to rule the United States, works to deprive the poor of food and housing, fights the accomplishments of science through denial, increases unemployment rates by austerity, and demonstrates extreme racism. To the GOP, the arts are a waste of money.

Average hourly earnings have been flat for 50 years (after adjusting for inflation), as companies steer their wealth primarily to senior management and owners at the expense of average employees. Tax policies increasingly favor investors and high wage earners over middle-class and upper-middle-class wage-earners. An obsession with “shareholder value” at the expense of other stakeholders (namely, customers and employees) has led companies to cut employee costs to the bone.

These and other factors have contributed to the most radical redistribution of wealth that the United States has ever seen. Since the late 1970s, the country’s assets and income have moved steadily from “average” Americans to the richest Americans. The wealth inequality is the greatest since the 1920s. Consumers have little money to spend, businesses suffer and look for way to cut costs, and consumers are hurt even more.

Big companies and their owners and senior managers, however, are not suffering. They’re doing better than any other time in history. The free-market system, which worked well 50 years ago, is costing everyone except the top 1 percent. The result is a nation of over 300+ serfs who serve a few million overlords.

As Warren said, “The Republican vision is clear: ‘I’ve got mine, the rest of you are on your own.’ ” That wasn’t John F. Kennedy’s dream, and it shouldn’t be ours either.

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1 Comment »

  1. We need a thousand Elizabeth Warrens.

    Like

    Comment by Lee Lynch — November 22, 2013 @ 10:29 PM | Reply


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