SENATE FINANCE COMMITTEE TAKES AN ITSY BITSY NIBBLE OUT OF THE DISPARITY BETWEEN RICH AND NON-RICH

The gap between the very rich and the rest of American society has become a chasm so mighty under the Bush Regime that it is nearly impossible to see from one side to the other. The disparity of incomes between the boss and his employees are bigger than ever-- much bigger. And it's worse in the U.S. than in any other developed country. In Japan a boss makes 11 times what his employees make. In Germany it's 12 times and in France it's 15 times, more. That grows to 20 times more in Italy and Canada and 22 times more in the U.K. Under George Bush, the disparity has risen to 475 times more! In other words, if a worker in Canada makes $40,000 a year, his boss makes $800,000. Not bad. In the U.S., the boss of that worker would make $19,000,000. This isn't a coincidence. It is the result of Bush Republican policies and initiatives. Raising the minimum wage a little might help but until the Democrats tackle Bush's policies of relentless class warfare head on, the disintegration of the American middle class and the brutalization of the American working class will continue.

If the hopes of Democratic voters who overthrew Republican legislative domination in November are going to rest in the hands of reactionary and corporately-oriented Democrats, who are, at best modestly better than fascist-oriented Republicans, those hopes will soon be dashed. Today the Senate Finance Committee, led by Big Business Senator Max Baucus (D-MT) is trumpeting the unanimous approval of a bill to "sharply limit the earnings corporate executives and other highly paid employees can place tax-free into deferred compensation plans." If something passes unanimously in this committee, you have to be very suspicious.

"Under the proposal, which drew virtually no debate from either side of the aisle, an individual taxpayer could defer no more than $1 million annually in compensation, beginning this year. The shift in tax policy would be likely to affect top executives at hundreds of corporations and would raise taxes on some of the nation's wealthiest workers by an estimated $806 million over 10 years. The proposal tracks rhetoric that some Democrats employed during the midterm elections, when they portrayed the Republicans who controlled Congress as being too close to special interests and the wealthy. It also offers a response to controversies that have erupted over executive pay in recent months, including scandals over backdated stock options and multimillion-dollar compensation and multimillion-dollar compensation packages paid to current and former corporate chieftains."

Many of the same senators who approved this gnat-sized non-solution to the gaping chasm, are also screaming that they will prevent the House-passed minimum wage bill from progressing unless it is accompanied by billions of dollars in tax breaks to their richest campaign contributors.

Baucus' incrementalism may be all he has the strength to get through Congress at this time but I strongly suspect that it is also all he wants to get through Congress-- at any time. Democratic voters need to understand the differences between Democrats and progressives who are Democrats. One thing we are already seeing clearly is that just electing a Democratic majority isn't the solution to what ails our country. Of course, there's always something much, much worse: Republicans. Today for example, one of the most corrupt and ethicless Republicans in the entire government, Minority Leader Boehner (best known for handing out bribes from Big Tobacco to Republican legislators on the floor of the House during a vote) has demanded that the Hous adjourn rather than pass the last of Speaker Pelosi's 100 Hour Agenda.


Why now? Why are Boehner, Blunt and Howdy Doody having a fit over the last item when they impotently stood by and watched the first 4 items not just pass but pass with signficant support-- as many as 124 votes on one!!-- from Republicans? Well, the last item is about cutting off billions of dollars in subsidies to Big Oil and putting that money towards investment in renewable energy. That's a big deal for Boehner and for his cabal of uber-corrupt Republicrooks. The RNC has taken $942,000 in legal bribes from Big Oil. Last year alone Boehner himself took in $64,000 in legal bribes from Big Oil and Gas. Blunt, who gets most of his bribes from "health professionals," scooped up over $89,000 from Big Oil and Gas last year. And Little Howdy Doody? Well, he doesn't get much respect and last year he was just a backbench nimrod so he didn't manage to vacuum up anything at all from Big Oil. Something tells me that will change this year now that he's in charge of something and noisily touting the company line. Tom Cole, on the other hand, #5 in the House GOP leadership (NRCC Chair, their version of Rahm Emanuel), accepted over $81,000 in legal bribes from Big Oil and Gas last year.