I’m liberal to progressive on many policy issues, but I think this column hits the nail on the head. If Republicans are to be a party of the worker, they should stand up and support unions, advocate policies that give a larger share of profits to wages, and support tax proposals that benefit workers. Unfortunately wealth disparity, coupled with unlimited political donations, has made both parties captives of the wealthy. Perhaps Republicans, as the politically disruptive party, have an opportunity to turn some of your ideas into law.
A really great article. If you are not already acquainted with the writings of Cliff Asness of AQR, I would highly recommend that you read some of his writing about PE. Cliff is a libertarian, but I think that you will find that his analysis of PE largely supports your “populist” thesis.
Once we had a sort of conservative labor movement. Samuel Gompers gradually moved away from socialism toward an accommodation with capitalism via collective bargaining.
A fundamental difference between now and then though is the increasing domination of public sector unions in the labor movement. That and the increasing radicalism among the remaining private sector unions, starting with the CIO back in the 1930s have fundamentally changed the union movement from the Gompers era. Building a conservative union movement in the Gompers mode will take a a new movement as the existing union movement won't go there.
Federal revenue went UP after the 2017 cut, so how can you claim that the “cost” needs to be offset? What cost? If revenue increases under lower rates, there is solid evidence that the higher rates were stifling growth. Am I missing something here? Are you assuming all economic activity stays the same no matter the tax rate? Seems unlikely to say the least.
What American workers really need is a brand new labor movement organized on a national, as opposed to a trade or industry, basis. An American Association of Working People (AAWP) or something like that. It needs to be a truly American union, representing the interests of all working Americans of all races and creeds. I propose just such an organization in the fourth and final chapter of my book about factories in the countryside run on part-time jobs and the new way of life such factories would make possible: https://www.amazon.com/dp/B00U0C9HKW
Do Control-F "labor"
But here's the rub, Oren: you have to have a program to get anywhere in this world. And by a program I mean more than a list of good policy proposals that you hope to get enacted into law, though good policy is certainly an essential part of the program. Unless you aspire to be nothing more than just another think tank in Washington, you need to offer something real, in the here and now, to the working men and women whose interests you clearly care about most; something that promises to enrich the life of every individual who chooses to become a dues paying member of the new American Association of Labor or whatever you want to call it: socially, culturally, emotionally, educationally, entertainment wise, economically, even spiritually if one thinks of it in terms of advancing those universal ideals of liberty and justice for all that are at the heart of Judeo-Christian tradition. Ant it must do all this on a regular weekly basis.
I’m liberal to progressive on many policy issues, but I think this column hits the nail on the head. If Republicans are to be a party of the worker, they should stand up and support unions, advocate policies that give a larger share of profits to wages, and support tax proposals that benefit workers. Unfortunately wealth disparity, coupled with unlimited political donations, has made both parties captives of the wealthy. Perhaps Republicans, as the politically disruptive party, have an opportunity to turn some of your ideas into law.
A really great article. If you are not already acquainted with the writings of Cliff Asness of AQR, I would highly recommend that you read some of his writing about PE. Cliff is a libertarian, but I think that you will find that his analysis of PE largely supports your “populist” thesis.
Once we had a sort of conservative labor movement. Samuel Gompers gradually moved away from socialism toward an accommodation with capitalism via collective bargaining.
A fundamental difference between now and then though is the increasing domination of public sector unions in the labor movement. That and the increasing radicalism among the remaining private sector unions, starting with the CIO back in the 1930s have fundamentally changed the union movement from the Gompers era. Building a conservative union movement in the Gompers mode will take a a new movement as the existing union movement won't go there.
Federal revenue went UP after the 2017 cut, so how can you claim that the “cost” needs to be offset? What cost? If revenue increases under lower rates, there is solid evidence that the higher rates were stifling growth. Am I missing something here? Are you assuming all economic activity stays the same no matter the tax rate? Seems unlikely to say the least.
What American workers really need is a brand new labor movement organized on a national, as opposed to a trade or industry, basis. An American Association of Working People (AAWP) or something like that. It needs to be a truly American union, representing the interests of all working Americans of all races and creeds. I propose just such an organization in the fourth and final chapter of my book about factories in the countryside run on part-time jobs and the new way of life such factories would make possible: https://www.amazon.com/dp/B00U0C9HKW
Do Control-F "labor"
But here's the rub, Oren: you have to have a program to get anywhere in this world. And by a program I mean more than a list of good policy proposals that you hope to get enacted into law, though good policy is certainly an essential part of the program. Unless you aspire to be nothing more than just another think tank in Washington, you need to offer something real, in the here and now, to the working men and women whose interests you clearly care about most; something that promises to enrich the life of every individual who chooses to become a dues paying member of the new American Association of Labor or whatever you want to call it: socially, culturally, emotionally, educationally, entertainment wise, economically, even spiritually if one thinks of it in terms of advancing those universal ideals of liberty and justice for all that are at the heart of Judeo-Christian tradition. Ant it must do all this on a regular weekly basis.
How about a piece comparing how private equity trades companies back and forth to local government funding vehicles guaranteeing each other’s debt: https://www.wsj.com/world/china/china-economy-debt-borrowing-33f08b5e?mod=china_news_article_pos3