CEOs would get tiny bonuses, corporations would be in the Red, rich people would be filing for bankruptcy and we'd be experiencing run away inflation.
Hostess shows us clearly what Bain-style predatory capitalism is all about: big bucks for the very few rich executives, layoffs and poverty for the workers and their communities.Now that hits home...
And don’t mourn the loss of Hostess brands – they’ll be back, as the company is currently negotiating with over 100 potential buyers right now to bring Twinkies, Wonder Bread, and Ding Dongs back into the marketplace.
The Hostess story has nothing to do with unions, and everything to do with the Enron-ization and Bain-ization of the American economy.
It leads to this question:
What would it look like if the poor were stealing from the rich and the Unions were squeezing corporate?
Rich People Lose Money!
Corporate taxes would be high and Executive compensation & profits would be low. Every man would be driving a cadillac.
Where is the firesale on corporate jets and 4th homes to pay off the tax man and bankruptcy attorney?
We are now nearly 5 on in a global financial catastrophe. Where is the inflation?
If it were the fault of the unions and the poor, wouldn't wages have gone up? Wages have been flat for almost all of my life. Wouldn't we be subject to runaway inflation just giving things away to the poor and undeserving?
A nifty byproduct of inflation is that debts get easier to pay off, the further on down the road you go. A healthy dose of inflation would reduce the cost of paying off those poor people's debts. Can't have that happening now, can we...
No Bonuses and Skimpy Profits
If the unions and poor people were to blame for our economic problems wouldn't CEOs be hard pressed? Selling off their 3rd homes, losing their jobs, going to jail, and filing for bankruptcy?
They certainly wouldn't be pillaging pensions to pay bonuses if it were the unions and the poors' fault and we certainly wouldn't have record corporate profits in the midst of global recession.
Conservative Non Sequitur or Failed Conservative Policies
"Are you going to believe me or your lyin' eyes?"
We've had 30 years of conservative rule. Unions are dying and the ranks of the working poor are growing. CEOs and corporations are making more money for themselves than ever. Profit before people should be our national motto.
But conservatives want you to believe that it is the poor and the unions that have caused all this pain. All we need to do is reduce taxes on the rich and corporate, get rid of unions and cut spending on poor people and all of our economic problems will go away.
Take a look around. Does that really look like what's going down?
Believe them or believe you're lyin' eyes.