"Capitalism is the greatest poverty-fighting machine in the history of mankind, and I’m proud of the role I’ve played in it," Bruce Rauner.Rauner "worked" for 30 years at GTCR which has "managed money" for decades for the Illinois Teachers' Retirement System (TRS) and the Illinois State Board of Investment, the largest and third-largest state pension funds, respectively, in Illinois.
Of course, like all modern "wealth managment" millionaires, Rauner made his money by accounting gimmicks and legerdemain. He's charged extorbinant consultation fees and clipped money from Pensioners, while mismanaging public pension funds.
Just like Mitt Romney and other so-called Capitalists, Rauner made his money the old-fashioned way... He Stole It. Now that he's skimmed off millions he's quick to lambast Illinois' underfunded pension liability.
GTCR has raised the largest percentage portion of its money from public pension funds. Pensions supplied half to two-thirds of the firms funds according to Rauner's own estimate. His former partners decline to comment, citing a state prohibition on asset managers who receive public money from trying to influence elections.
Billionaires and Corporate Thieves are so opposed to shouldering their burden of the Taxes that spearheaded by the Koch Brothers, conservative think tanks are planning a non stop propaganda blitz to poison this effort.
"When those excess benefits are being paid out to government employees, taxpayers lose." Bruce RaunerYeah, lazy Teachers! Working for 30 years and then expecting a pension, whereas Rauner's Role as a Rentier, extracting $100 million from the Pensions over the last 3 years alone, is beautiful capitalism at work of which he's "proud".
GTCR has raised the largest percentage portion of its money from public pension funds. Pensions supplied half to two-thirds of the firms funds according to Rauner's own estimate. His former partners decline to comment, citing a state prohibition on asset managers who receive public money from trying to influence elections.
A month ago, Bruce Rauner pledged at a Downstate candidates’ forum that if elected governor he would reduce the state’s minimum wage by $1 to make it equal to the federal rate in an effort to make Illinois more economically competitive.
Here in Illinois we've seen many times business try and strong-arm the Governor and Legislature (Sears Inc., CME Group and Office Max) in Pay-to-Play and the Race-to-the-Bottom schemes.
In fact, Illinois Residents overwhelmingly want Fair Tax Legislation passed in which Corporations and Millionaires, like Rauner, pay their fair share of taxes instead of receiving Illinois taxpayer welfare so we can be privileged by their scores of minimum wage jobs. A Better Illinois points out that over 75% of Illinois residents want a Fair Progressive Tax."I made a mistake. I was flippant and I was quick. I should have said, 'Tie the Illinois minimum wage to the national wage and, in that context, with other changes in being pro-business, I support raising the national minimum wage.' I’m OK with that," said the Republican from Winnetka.Key words to remember are to make Illinois "Pro-Business", that means crushing labor. Modern day Capitalists view labor as an unnecessary expense. One of the long sought after goals of the 1%, in pursuit of a Wage Slave State, has been the total defeat of Labor.
Here in Illinois we've seen many times business try and strong-arm the Governor and Legislature (Sears Inc., CME Group and Office Max) in Pay-to-Play and the Race-to-the-Bottom schemes.
Billionaires and Corporate Thieves are so opposed to shouldering their burden of the Taxes that spearheaded by the Koch Brothers, conservative think tanks are planning a non stop propaganda blitz to poison this effort.
Bruce Rauner has unequivocally stated he intends to use the Awesome Power of Government to crush labor, reduce wages, impoverish workers, eliminate Unions, and place further unfair burdens on the over-taxed working class and shrinking middle class. Like all Republicans, a Rauner Governorship would be an implacable foe of the Working Class and would he align himself with the Koch Brothers.
"Bruce Rauner has unequivocally stated he intends to use the Awesome Power of Government to crush labor, reduce wages, impoverish workers, eliminate Unions, and place further unfair burdens on the over-taxed working class and shrinking middle class."
ReplyDeleteI guess we will have to rewrite the Gettysburg Address ending it with
"...government of the people, by the people, for the people, HAS perishED from the UNITED STATES."
I've got a question for anyone who supports the idea of a minimum wage? At what level would you set the minimum wage and how would you adjust it to keep it at an appropriate level into the future?
ReplyDeleteI often hear about a 'Living Wage' but never hear a finite dollar amount or ideas on indexing it into the future.
Would it only apply to hourly employees? How would you extrapolate it out to low paid salaried workers?
Would we base it on the traditional 40 hour work week or the new < 30 hour work week so many low income earners were moved to with the new Affordable Care Act definition of 'full time' employees?
What say you?
JC,
ReplyDeleteThe Land of Rauner sounds like a dystopic hell hole in which Bruce Rauner aka The Lord Humungus rules.
CH,
These are good questions. Faux News/Business routinely bashes government assistance. I recall hearing one bemoan that with all assistance programs added together a person could "earn" $12 an hour. That would seem an easy starting position for subsistence wages.
But, of course it galls me that we must always justify things bottom up (i.e. assistance to the poor) whereas Top Down government programs (low capital gains and deferred income taxes / the Bush Tax giveaway / welfare for Oil Conglomerates) are axiomatically assumed.
I would set the minimum wage at a level such that a single person working 40 hrs/wk would not quality for poverty assistance, roughly 150% of the poverty level. It would be indexed to the poverty level. Business should pay for their cost of labor. The rest of the tax payers, through the government, should not have to subside businesses for their cost of labor.
ReplyDeleteJerry Critter,
ReplyDeleteVery astute and here's the thing, Modern Capitalists realize that they don't need the American worker for much of anything anymore.
They've outsourced as many jobs as they can and will do more as tech makes it possible and they've insourced as many illegal workers (a time-honored tradition amongst capitalists to undercut American Labor) to work well under minimum wage.
But, as long as one Party is Wholly owned by the Rich and the other is more and more corrupted we'll continue to see the Right-Wing War on the Poor until the Wage Slave State is achieved. Hosannah!
Higher wages would increase employment. There are a lot of people working 2 dead end jobs, if they made a little more they could stay home and keep their kids out of trouble and fee up one job for someone else.
ReplyDeleteBut aside from that, the GOP said unemployment checks are why unemployment is so high. Now that it is cut off for 1.1 million, why was todays employment rate up less than 10% of that. Repubs said cut off their food and they would get off the couch and get jobs, maybe it takes 2 weeks.
To continue with the minimum wage meme I thought to research the minimum wage for tipped employees; you know, waiters, waitresses, bartenders, etc...
ReplyDeleteIs it fair that the Federal Minimum Wage for Tipped Employees is two dollars and thirteen cents and was last increased in 1991?
When I moved to Japan several decades ago I was at first shocked that I was not supposed to tip the wait-staff at a restaurant or a bar. I learned a short time later that they are well compensated for their work and consider it an insult and very negative feedback on the quality of their service if a customer leaves a tip.
Why don't we see demands for Tipped Employees to be paid more than the $2.13 our federal government thinks they are worth?
Yes, why don't we?
ReplyDeleteJC, "why don't we" pay waiters higher wages is a good question but, you've got to understand, Chickenhammer isn't here to debate but to derail.
ReplyDeleteOtherwise, he wouldn't have avoided both your and my response to his minimum wage question earlier with this new circumstance of wait staff and bartenders.
The point is Bruce Rauner is a Billionaire who made his money siphoning off from State Pensions and now wants to be Governor so he can really stick it to the working class.
Yellow Fringe,
We both know cutting off unemployment and food assistance is so Republicans can enjoy hurting poor people and then get a further sadistic thrill by watching those people crawl to the voting booth and vote for the old white male who just hurt them.