On Jan. 23, President Donald Trump signed an executive action withdrawing the U.S. from the Trans-Pacific Partnership (TPP) trade deal. Negotiated by then-president Barack Obama, the TPP would have standardized trade between the U.S., Japan, Mexico, and nine other countries in the Pacific Rim, lowering tariffs and regulations between countries to favor corporations. The agreement drew heavy criticism from labor unions and environmental groups, who argued the TPP would hurt workers and hamper efforts to address climate change.
While Donald Trump claims to be for the working man, his tax proposal is just another Republican tax cut for the rich and big business. The biggest single tax break would be for corporations, whose tax rate would be cut from 35% to 15%. This and other tax cuts for corporations and other businesses would cut federal tax revenue by about $4.5 trillion dollars over the next ten years, or about $450 billion dollars a year. This would mainly benefit the top 1%, who own about half of corporate and business wealth and other high-income individuals who could change their tax status to be a business.
Fight Back News Service is circulating the text of a speech by a leader of Freedom Road Socialist Organization, Fernando Figueroa, which was delivered shortly before the July 18 march on the RNC in Cleveland, OH.
As things stand, billionaire and bigot Donald Trump will be the Republican standard bearer for the presidency. In many ways he is a symbol of everything that is wrong with this country. He is a tireless promoter of racist anti-immigrant and anti-Muslim attacks. He is a misogynist, who defends the oppression of women. Trump spreads the gospel of ‘greed is good’ while pretending to be a friend of the working person. He is a right-wing populist with only one redeeming feature – that, barring some big change, he is unelectable.
To mark the May 5, 1818 birthday of Karl Marx, Fight Back News Service is circulating a famous work he authored in 1859, the Preface to A Contribution to the Critique of Political Economy.A Contribution to the Critique of Political Economy
Patras, Greece – The first day of the big March Against Unemployment, which will travel 220 km from Patras to Athens concluded with enormous success on April 4.
Report shows rising income inequality while maintaining myth of the middle class – Commentary by Masao Suzuki
San José, CA – In December of 2015 the Pew Research Center released a report on the decline in middle-income Americans, who now make up a minority of the population, down from 60% in the 1970s. Their share of income has fallen even more, from more than 60% in the 1970s to only 43% in 2014, as upper-income households share has risen from 30% to 49% over the same period of time. The Pew report also has other important information on wealth, debt, occupation and education, which were generally not reported in the mainstream corporate media.
Houston, TX – Over 20 activists protested outside of Wal-Mart in Memorial Heights, Nov. 27, to stand with low-wage workers in their struggle to for a $15 wage, health benefits and a pension. Wal-Mart is one of the most exploitative companies in the U.S. It pays its workers almost nothing, provides them with few benefits and makes them work under the constant threat of being fired. The protest was organized by the National Organization for Women (NOW), which organizes the demonstration each year on Black Friday.
San José, CA – On Oct. 2, the Department of Labor reported that the U.S. economy created only 142,000 net new jobs in September. This was in much less than the 200,000-plus jobs that mainstream economists expected. Even worse, the Labor Department reported that their revised estimates for July and August turned out to be 59,000 fewer new jobs than originally reported.
San José, CA – In May of 2015, the official unemployment rate was 5.5%, close to the 5.0% rate in December 2007 when the last recession began. But despite what appears to be a recovery in the labor market, wages continue to rise at a very slow rate while profits have soared. In fact, businesses used the recession to continue their restructuring of the labor market in their interests, to the detriment of those who have to work for a living.
San Jose, CA – En mayo de 2015, la tasa oficial de desempleo fue de 5.5 %, bastante cerca a la tasa del 5.0% que existía cuando comenzó la última recesión en diciembre del 2007. Sin embargo, a pesar de la aparente recuperación del mercado laboral, los salarios continúan aumentando a un ritmo sumamente lento, mientras que las ganancias se han disparado de forma exponencial. De hecho, para el detrimento de aquellos que tienen que trabajar para sobrevivir, las empresas han utilizado la recesión para impulsar la reestructuración del mercado laboral en beneficio de sus intereses.
San José, CA – On July 2, the Labor Department released its report on the job market for June of 2015. The official unemployment rate fell to 5.3% in June from 5.5% in May, the lowest since the early months of the recession in April 2008. In addition, the payroll jobs report showed a gain of 223,000 in June. With unemployment down and job numbers up, the economic expansion continues.
Fight Back News Service is circulating the following July 1 statement from the powerful Greek trade union center, the All Workers Militant Front (PAME).
The Trade Unions To Organize Militant Response
San José, CA – On June 28, the European Central Bank (ECB) stopped emergency lending to Greek banks. With depositors trying to withdraw money and banks without access to cash, the Greek government called for a six-day bank shutdown from June 29 to July 6. ATM withdrawals were limited to 60 euros (about $66) a day per account holder. In addition, capital controls mean that money cannot flow out of Greece unless permitted by the government.
On May 1, 2015, workers around the world will celebrate International Workers’ Day and the struggle for a better world. In most every country, workers and oppressed peoples will march in the streets waving red flags. Working class leaders will give powerful speeches about the history and future of the struggle against an unfair system that only benefits the 1%. May Day is an opportunity to celebrate the working class and the bright future ahead for those of us who work and stand against the bosses and companies that exploit us. May 1 is also a day to stand with oppressed nations and peoples of the world who are resisting war and occupation by the U.S. ruling class and its military machine. Freedom Road Socialist Organization (www.frso.org) urges people to march on May Day and host forums about the working class, the need to end the rule of the 1% and to establish socialism – a system where political and economic power is in the hands of the workers.
_Extended Unemployment Compensation (EUC) still needed _
Washington DC – Statistics released by the federal government on Jan. 27 indicate that high unemployment rates persist in a good number of states. California, home to almost 40 million people and the most populous state in the U.S., has an unemployment rate of 7%. In December, Mississippi had the highest unemployment rate of all states, coming in at 7.2%. Topping the list is Washington D.C., with an unemployment rate of 7.3%. Rhode Island and Nevada are also plagued by high unemployment.
Washington, D.C. – Statistics compiled by the federal government indicate that there is still a large number of long-term unemployed workers, despite the modest economic expansion. According to a Jan. 9 statement from the Bureau of Labor Statics, “In December, the number of long-term unemployed (those jobless for 27 weeks or longer) was essentially unchanged at 2.8 million and accounted for 31.9% of the unemployed.”
San José, CA – On Friday, Oct. 10, U.S. stock prices fell again, ending a week marked by ups and downs in the market. As measured by the Dow Jones Industrial Average of 30 large U.S. corporations, stock prices have actually fallen slightly this year.
San José, CA – On Oct. 3, the Department of Labor released their report on the job market for September. The report showed that the Labor Force Participation Rate (LFPR), or the percentage of adults either working or looking for work, continued to decline, and hit a low not seen since 1978. Almost 100,000 jobless workers gave up their job search and left the labor market, helping the unemployment rate to go down to 5.9%, the lowest since summer of 2008.
Growing economic inequality means only the rich are getting richer
San José, CA – On Tuesday, Sept. 16, the Census Bureau released their annual report on income and poverty for 2013. The report showed that the typical household had a small gain in their income for the first time since 2007. The median household income, at $51,939 was still below that of 1996, when adjusted for inflation. It is still down 8% from 2007 and 8.7% less than its peak in 1999.
