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President Barack Obama delivers remarks at Henninger High School in Syracuse, New York, during the college affordability bus tour, Aug. 22, 2013. (Official White House Photo by Chuck Kennedy)President Barack Obama delivers remarks at Henninger High School in Syracuse, New York, during the college affordability bus tour, Aug. 22, 2013. (Official White House Photo by Chuck Kennedy)

Goodbye, College Ratings (For Now)

The Obama administration recently declared that it would no longer pursue a college ratings system based on accessibility, affordability and student success. And college presidents everywhere breathed a sigh of relief.

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in collaboration with Spotlight on Poverty and Opportunity

Raise the poverty line, implement protectionist tariffs, and institute employee representation in corporate decision making

File under: job creation, poverty line, basic budget, employee representation, tariffs, manufacturing, industrial policy, technology, jobs, taxes, welfare

0 (0 votes)

From: Keith A., , IL

High poverty and high unemployment aren't an anomaly. They're the natural state of affairs in a backward economy. In the United States, they're a warning sign that our economy is regressing. This isn't a recession -- it's a regression.

Without a basic standard of living, people lack the security, flexibility and opportunity to make good long-term economic decisions. Therefore, redefine the poverty line to account for increases in the costs of housing, transportation, health care and child care (read more here), and distribute the benefits of entitlement programs accordingly. Pay for them with a steeper marginal tax rate on luxury-level income (60 percent on income over $175,000 a year for single filers, $300,000 a year for joint filers).

But transfer payments alone are a drag on the economy. Therefore, put in place an aggressive national industrial policy focused on two things: advanced technology (especially in nano and green energy) and domestic production of goods for domestic consumption. If we can't compete head-to-head with slave-labor wages in China and other nations, then we have to accept the necessity of temporary protectionist tariffs as a defensive measure while our productive capacity regenerates.

Finally, amend corporate law to require German-style employee representation in corporate governance, to ensure that companies are run with the interests of all stakeholders in mind, not just to maximize profit for stockholders and executives. This should result in fairer employee compensation as well as more reinvestment of earnings in research and development.


Comments:

Keith A.
From , IL

Two addenda: There is so much work in this country that needs to be done, and so many people who need work, the obvious problem is figuring out how to pay the latter to do the former. This is where a WPA-style work program would be extremely useful in the short term, especially considering the deplorable state of our national transportation and utility infrastructure. Also, the single biggest roadblock against job creation right now is big banks' unwillingness to lend money to small businesses and startups. Therefore, either the Federal Reserve or a public-private small-commercial bank should lend directly to these businesses so that they can create the jobs we need. Capitalism has a major role to play in our recovery, but our biggest capitalists are refusing to cooperate. Cut them out of the deal.


American RadioWorks |
President Barack Obama delivers remarks at Henninger High School in Syracuse, New York, during the college affordability bus tour, Aug. 22, 2013. (Official White House Photo by Chuck Kennedy)President Barack Obama delivers remarks at Henninger High School in Syracuse, New York, during the college affordability bus tour, Aug. 22, 2013. (Official White House Photo by Chuck Kennedy)

Goodbye, College Ratings (For Now)

The Obama administration recently declared that it would no longer pursue a college ratings system based on accessibility, affordability and student success. And college presidents everywhere breathed a sigh of relief.

Recent Posts

  • 07.23.15

    Sweet Briar Returns

    Sweet Briar College was about to close after struggling with dwindling enrollment and other problems. An alumni group raised more than 20 million dollars in pledges to keep the doors open, but the school's survival is still deeply in doubt.
  • 07.15.15

    The Future of Historically Black Colleges

    Historically Black Colleges and Universities proliferated throughout the late 19th and early 20th centuries, when many white schools refused to admit African Americans, especially in the South. Our guest this week feels HBCUs still serve a crucial role in higher education.
  • 07.07.15

    Talking About Race in Schools

    Over the past year, race relations have dominated the news cycle. This can bring up difficult questions, especially for parents and teachers. Our guest Yolanda Moses says Americans need to find more ways to talk about race in schools.
  • 07.02.15

    Minorities and Special Ed

    For years policy makers believed that minorities were overrepresented in special education and that there was inherent bias in the way kids were being identified as disabled. A new study turns this idea on its head.