As a follow-up to yesterday’s post about the quarterly earnings of ExxonMobil, it appears that Big Oil, across the board, is looking very good. Today, Chevron reported it’s 3rd-quarter earnings:
“Chevron Posts 3Q Earnings of $3.92 a Share, Solidly Topping Analysts’ Estimates”
Sen Paul Ryan (R-WI), gave a speech at the Heritage Foundation, where he called upon the government to cut regulations, in order to allow corporations to hire workers. He alleged that by cutting regulations, corporations and wealthy business owners would have more money to expand and hire. When asked by a reporter why corporations aren’t hiring now, with huge cash reserves and record profits, his response was, “That’s not what I’m seeing in Wisconsin.”
A Tuesday report by the Congressional Budget Office (CBO) suggests that under conservative policies, the wealthy are paying less and getting more, while everybody else has stagnated. Top earners have received the vast majority of income growth in the past three decades, while simultaneously, their share of the tax burden has declined, and their share of government services has increased. On average, top earners have tripled their incomes, while middle- and lower-income earners are treading water to stay even, or declining from where they were 30 years ago.
Perhaps Mr. Ryan lives in “everything is opposite land.”
For those of us able to remember the “Silver Age” of comics, this sounds vaguely familiar. Superman came upon a world where everything and everyone was an opposite of its counterpart on Earth. In the Bizarro world of “Htrae” (“Earth” spelled backwards), society is ruled by the Bizarro Code, which states “Us do opposite of all Earthly things! Us hate beauty! Us love ugliness! Is big crime to make anything perfect on Bizarro World!”
Mr. Ryan seems to think that by saying what’s in his head, makes it so. He is the perfect ideologue, since he needs neither facts nor statistics to back up his pronouncements. He caters to the “Limited Information Voter” that I have referred to in past posts, and feels comfortable as the advance attack force of the GOP and Tea Party supporters. Even with his unpopular ideas about shutting down Medicare and redistributing those monies as tax cuts to the wealthy, his party still relies upon Ryan to speak on behalf of its most important constituency, now known in America and across the world as “the 1 percent.”
Luckily, for those of us who live in the real world, there are defenders of the truth, who are willing to stand up and attack Ryan’s Bizarro Ideology. One such person is Elizabeth Warren, who is taking on Sen. Scott Brown (R-MA) in 2012, to return the late Sen. Ted Kennedy’s seat, back to the Democrats. You’ve probably seen her comments, which were widely spread on the Internet:
“You built a factory out there? Good for you. But I want to be clear. You moved your goods to market on the roads the rest of us paid for. You hired workers the rest of us paid to educate. You were safe in your factory because of police-forces and fire-forces that the rest of us paid for. You didn’t have
to worry that marauding bands would come and seize everything at your factory — and hire someone to protect against this — because of the work the rest of us did.
Now look, you built a factory and it turned into something terrific, or a great idea. God bless — keep a big hunk of it. But part of the underlying social contract is, you take a hunk of that and pay forward for the next kid who comes along.”
How is it that there can be such a dichotomy in the way two people can see the world? Why is the ‘Ryan Bizarro World’ so well-received by those middle class Americans who would have the most to lose if his world became reality? Why do so many Americans think that it’s ok for the rich to get richer while the rest of America stagnates?
Yes…this certainly IS a Bizarro World we live in!