Copyright © 2016 - 2021, The Troy Press
Copyright © 2016 - 2021, The Troy Press
Copyright © 2016 - 2021, The Troy Press
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Who wrote of the "impeccable economic logic" of dumping the West's health-imparing toxic waste in "under polluted" Africa because the resultant cancers wouldn't have time to develop in a population with such a low life expectancy?
Lawrence Summers as Chief Economist for the World Bank, in a leaked memo, December 12, 1991. Brazil's Environment Minister, Jose Lutzenburger, wrote to Summers that his proposal was "perfectly logical but totally insane". Lutzenburger was fired for writing the letter. Summers went on to greater things, initially as Treasury Securetary in the final 18 months of the Clinton Administration, and now as Barak Obama's Chair of the National Economic Council.
(Sorry we don't have the original source of this but perhaps it's worth a look on WikiLeaks!)
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The LLCs, in turn, were arms of Glenwood Management, a developer of upscale Manhattan residential properties, and the New York real-estate industry's largest contributor to political campaigns. Each election cycle, millions of dollars flow to Albany from luxury residential buildings, office towers and parking garages controlled by some of New York City's biggest tycoons. What the buildings have in common is that they're owned by LLCs, a structure shielded from New York's tight restrictions on corporate campaign donations. Thanks to their vast networks of such entities, developers can give virtually unlimited sums each campaign season. In one day in 2014, Glenwood funneled $450,000 in contributions to two accounts for the Senate Republican Campaign Committee through 18 separate LLCs.
Exploiting the LLC loophole has been a shrewd investment for the real-estate industry. The state oversees New York City's system of capping rent increases, known as rent stabilization. By influencing state elections, developers have undermined rent stabilization and preserved a key tax break that saves them far more money than they spend on political campaigns. The value of that subsidy, which is known as 421-a, has soared from $73 million in 1986 to an estimated $1.4 billion this year. In return for the tax benefit, owners are supposed to limit rent increases and set aside a portion of units in high-demand neighborhoods for below-market rents - though they often don't fulfill their commitments.
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The soon-to-be U.S. energy secretary doled out billions in grants and tax incentives for corporations while governor of Texas. One $30 million grant went to an energy group that turned out to be a phantom.
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Was listening to Jimmy Dore on "the fight for $15" minimum wage, and it occurred to me that of course, that's just crumbs, and I figured I should find where Elizabeth Warren had said in the summer of 2015 that it should be over $24.
I didn't find that, but I found materials from two years earlier...
In the first week of March, 2013 - more than two years earlier - she was captured in this video saying it would have been over $22 / hour at that time.
Then, also in March of 2013, there's this:
The minimum wage should have reached $21.72 an hour in 2012 if it kept up with increases in worker productivity, according to a March study by the Center for Economic and Policy Research. While advancements in technology have increased the amount of goods and services that can be produced in a set amount of time, wages have remained relatively flat, the study points out.
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