In his upcoming State of the Union speech, President Barack Obama is expected to prioritize what is emerging as his legacy issue: combatting America's growing wealth inequality. Expect him to promote policies to create new middle-class jobs, especially in manufacturing, and counter the erosion of wages now undermining workers economy-wide.
But in the speech, Obama is also expected to highlight several major trade initiatives, including his priority Trans-Pacific Partnership (TPP) deal, a massive pact with 11 Asian and Latin American nations that Obama hopes to sign quickly. The business lobby is at full tilt pushing Obama to use the SOTU to call on Congress to pass Fast Track trade authority for the TPP.
How will you honor the legacy of Martin Luther King Jr. this April 4, the anniversary of his assassination? How about by demanding that Congress get out of Wall Street’s pocket? How about by letting your representative know that you support economic equality and a just distribution of wealth in America? As Dr. King himself said, “This is America’s opportunity to help bridge the gulf between the haves and the have-nots. The question is whether America will do it. There is nothing new about poverty. What is new is that we now have the techniques and the resources to get rid of poverty. The real question is whether we have the will.”
With Congress about to begin the next cycle of budget battles – mostly focused on how much more pain to inflict on Main Street communities across America – a far different message is bubbling up across the land.
Simply put, the big idea behind the Robin Hood Tax is to generate hundreds of billions of dollars. That money could provide funding for jobs to kickstart the economy and get America back on its feet. It could help save the social safety net here and around the world. And it will come from fairer taxation of the financial sector.
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