I mean, they're arbitrarily raising the prices on goods and services anyway even without wages increasing to compensate. So actually legislating for national wage increases can't make things much worse (save for getting blamed for inevitable price hikes because that's the trend going forward with or without said increase.)
A halfway decent bill to increase the Minimum Wage would also probably include clauses and regulations to prevent companies from just boosting prices on everything to entirely offset increased wages anyway.
That’s all fine and dandy, but… if the votes required to pass such legislation aren’t there… they aren’t there.
And I think we should be beyond the point where “just threaten manchin/sinema with primarying/pulling support/statistics show that voters actually like XYZ/an angrily worded letter” should be the recommended “solution.” They don’t seem to care, and the GOP aren’t going to spring for it either.
“Do not lose time on daily trivialities. Do not dwell on petty detail. For all of these things melt away and drift apart within the obscure traffic of time. Live well and live broadly. You are alive and living now. Now is the envy of all of the dead.” ~ Emily3, World of Tomorrow
Words to live by.
I don't think the democratic party wants to raise wages simply put if they wanted to they could have just made Sinema / Manchin write the bill for the minimum wage increase they wanted. They openly said they wanted $12/hour while not $15 democrats simply dropped the issue and didn't bother, on a lot of issues the democrats just walk away instead of making them you know legislate.
U.S. Senate finance chair to propose tax on excess oil profits
U.S. Senate Finance Committee chair Ron Wyden is planning to introduce legislation setting a 21% surtax on oil company profits considered excessive, an aide for the senator told Reuters.
The bill applies a 21% additional tax on the excess profits of oil and gas companies with more than $1 billion in annual revenue, the aide said. The 21% tax would be in addition to any regular income tax due. Profits over 10% would be considered excessive under the bill, according to the aide.
Unlike other proposed windfall profit taxes, the aide said, Wyden's bill would apply the tax based on profit margins, not oil prices.
"While Americans pay more to fill up their gas tanks, Big Oil companies are raking in record profits, rewarding their CEOs and wealthy shareholders with massive stock buybacks, and using special loopholes in the tax code to pay next to nothing in taxes," Wyden, a Democrat, said in a statement.
Umm yeah Sleepy Joe is really just going to sleep through this and hopes the good ole hyper capitalism fixes it. Biden writing letters and begging oil companies to play nice is effin weak. Also running to Saudi Arabia is classic also.
Before we kiddingly joked how Biden's opponents would say "do something" and the only thing Biden can do is authoritarian actions or some type of socialism. Maybe no more joking and Biden needs to do some overreach and while enacting the policy fight it courts.
The taxes or trying to go after oil's money is just going to have them raise prices to recoup it. Again, with hyper capitalism combined with our stock/shareholder where these companies are beholding to most return possible, will never let them take losses. Even in a time of a worldwide inflation.
Check out this crazy video from Scott Sheffield and Bloomberg:
He talks about how they will not drill for more oil cause it hurts profits.
He speaks on they are beholding to shareholders, so again will not sacrifice profits. Oh btw above of course is to keep your stocks strong you much grow thus again, why companies will never take sustainable losses even though they might be making profits.
Pioneer Natural Resources Co. CEO Scott Sheffield said: “We’re not going to change…at $100 oil, $150 oil, we’re not going to change our growth rate,” Sheffield said. “We think it’s important to return cash back to the shareholders.”Q: "So if the president phoned you up Scott and said "you know what, we need some more oil", what are you gonna say to him?"
Scott Sheffield, CEO of Pioneer Natural Resources: "It’s all about the shareholders [...] they want a return of cash"
Democrats are the best! I will never ever question a Democrat again. I LOVE the Democrats!
Companies need to be reminded that the government's response to shit like this can be "Neat. We own everything you own now. Your company is now run by and for the government." And you and your shareholders get to whine about it in the press while you get no traction because gas prices drop precipitously. The government technically doesn't even need to pay you for any of it. It's not that different from seizing Russian oligarch's megayachts.
Oil companies are giving some good reasons for nationalization.
They really shouldn't provoke..
Neither party in the US are for nationalization though. Just hand-wringing. Not to mention, you could double their wage and Trumpist oil workers would walk off the job to spite Joe Biden if he nationalized it. Texas would tie up their refineries in litigation. The experiment would fail like it did in Canada because of conservatives, and leftists would shoulder the blame. This is the worst timeline.
So it looks like Very Online People are mad at Biden, because he's not following their advice.
Very Online People Advice;
"Biden needs to throw people in the gulag to teach them a lesson!"
"Biden needs to start seizing property of everyone that disagrees with me!"
Seriously, read The Bread Book, he talks a lot about how you can't guillotine your way out of problems.
Government Affiliated Snark
You mean "start seizing the means of production from capitalists exploiting an economic crisis for personal profit, at the expense of the American people".
Pretty sure the French guillotined themselves out of several problems.Seriously, read The Bread Book, he talks a lot about how you can't guillotine your way out of problems.
You need more than just the guillotines; you need to build something back up in the aftermath, which is where the French Revolution fell apart. But the guillotines were a perfectly functional Step 1.
See also the American Revolution, for a more-or-less successful iteration.
Those in power always like to present violence as a non-option, because they're fully aware that violence is very much an option, and a highly successful one, historically speaking, and that they do not have the resources to protect themselves against the masses the moment the masses realize things are fucked. That's kind of the thing about studying history; you start leaning that maxims like "violence never solved anything" are pretty wildly incorrect. Violence solves a whole lot of things. And many cases where it fails, it's because insufficient levels of violence were used.
Last edited by Endus; 2022-06-16 at 07:58 PM.