Last Updated on Tuesday, 06 May 2008 21:50
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Sound Familiar?
A large, UAW represented auto parts supplier, formerly a subsidiary of GM, spun off to lower labor costs and compete in the "global economy." American middle class workers and their respective unions are portrayed as greedy, while CEOs rake in millions of dollars in wages, benefits, bonuses, and perks.
First it was Delphi and now American Axle Manufacturing, whose workers' are presently on strike. The big difference between the two is that Delphi was in bankruptcy and A.A.M. made a net profit of $38 million in 2007. A.A.M. is offering no buyouts, only devastating 50% wage cuts along with threats of moving operations to other countries. This is another attack on middle class workers. The fact that a profitable company is employing these tactics reeks of union busting!
According to SEC filings, CEO Richard Dauch made $10.2 Miilion in 2007. This exorbitant salary is roughly equivalent to that of Toyota's 46 top executives combined. And yet we are portrayed as greedy and the reason these companies cannot be profitable in the good old USA.
Do you think these CEOs are sharing the pain of Bush's Republican economy? Are their homes being foreclosed? Does it hurt them to drive their company car with a full gas tank, while we struggle to pay $3.25 a gallon at the pumps? Our dollars shrink while they invest overseas in Euros and gold. Meanwhile, the U.S. Labor Department announced that the U.S. economy is bleeding jobs. The numbers are staggering; 76,000 jobs in February 2008, climbing to 80,000 in March. Along with the housing sectors' implosion, Bush now has the historic distinction of presiding over the worst job loss recovery since the great depression. If you want more of this, then by all means vote for McCain, who has openly stated (while smiling!) that he knows very little about economics.
McCain will surely, by all indications, increase our military excursions in the Middle East. We are all paying the price; five years and 4000 American soldiers dead. That is truly the greatest cost of this conflict, but there is an economic side also. Economists predict in 2008 that the war will cost $12 billion dollars a month. McCain is planning on sticking around in Iraq if elected (remember the 100 years quote?). Moderate scenarios estimate a $2.7 trillion war cost by 2017, and we are borrowing money to pay! The interest alone is estimated at $816 Billion.
Imagine what we could do to rebuild this great nation's economy and security with that kind of money. Think about the lives of our soldiers and their families. Think very hard before you step into that voting booth!
In Solidarity,






