SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
homelessness
Trump Win Fulfills Oligarchy's 50-Year Plan for Right-Wing Takeover
The billionaires have won. They have successfully killed the American Dream. And now we have to fight back.
Nov 06, 2024
When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.” — Frédéric Bastiat, Economic sophisms, 2nd series (1848)
We just watched the final fulfillment of a 50 year plan. Louis Powell laid it out in 1971, and every step along the way Republicans have follow it.
It was a plan to turn America over to the richest men and the largest corporations. It was a plan to replace democracy with oligarchy. A large handful of America’s richest people invested billions in this plan, and its tax breaks and fossil fuel subsidies have made them trillions. More will soon come to them.
As any advertising executive can tell you, with enough money and enough advertising — particularly if you are willing to lie — you can sell anybody pretty much anything.
This is not the end... hitting bottom often begins the process of renewal.
Even a convicted felon, rapist, and friend and agent of America’s enemies.
America was overwhelmed this fall by billions of dollars in often dishonest advertising, made possible by five corrupt Republicans on the Supreme Court, and it worked. Democrats were massively outspent, not to mention the power of the billionaire Murdoch family’s Fox “News” and 1500 hate talk radio stations.
Open the lens a bit larger, and we find that it goes way beyond just this election; virtually every crisis America is facing right now is either caused or exacerbated by the corruption of big money authorized by five corrupt Republicans on our Supreme Court.
They are responsible for our crises of gun violence, the drug epidemic, homelessness, political gridlock, our slow response to the climate emergency, a looming crisis for Social Security and Medicare, the situation on our southern border, even the lack of affordable drugs, insurance, and healthcare.
All track back to a handful of Supreme Court justices who’ve sold their votes to billionaires in exchange for extravagant vacations, luxury yachts and motorhomes, private jet travel, speaking fees, homes, tuition, and participation in exclusive clubs and billionaire networks that bar the rest of us from entry.
For over two decades, Clarence Thomas and his wife have been accepting millions in free luxury vacations, tuition for their adopted son, a home for his mother, private jet and megayacht travel, and entrance to rarified clubs.
Sam Alito is also on the gravy train, and there are questions about how Brett Kavanaugh managed to pay off his credit cards and gambling debts. John Roberts’ wife has made over $10 million from law firms with business before the court; Neil Gorsuch got a sweetheart real estate deal; Amy Coney Barrett refuses to recuse herself from cases involving her father’s oil company.
None of this is illegal because when five corrupt Republicans on the Court legalized members of Congress taking bribes they legalized that same behavior for themselves.
As a result, we have oligarchs running our media, social media, and buying our elections, while the Supreme Court, with Citizens United, even legalized foreign interference in our political process.
Our modern era of big money controlling government began in the decade after Richard Nixon put Lewis Powell — the tobacco lawyer who wrote the infamous 1971 “Powell Memo” outlining how billionaires and corporations could take over America — on the Supreme Court in 1972.
In the 1976 Buckley v. Valeo decision, the Court ruled that money used to buy elections wasn’t just cash: they claimed it’s also “free speech” protected by the First Amendment that guarantees your right to speak out on political issues.
In the 200 preceding years — all the way back to the American Revolution of 1776 — no politician or credible political scientist had ever proposed that spending billions to buy votes with dishonest advertising was anything other than simple corruption.
The “originalists” on the Supreme Court, however, claimed to be channeling the Founders of this nation, particularly those who wrote the Declaration of Independence and the Constitution, when they said that “money is the same thing as free speech.” In that claim, Republicans on the Court were lying through their teeth.
In a letter to Samuel Kercheval in 1816, President and author of the Declaration of Independence Thomas Jefferson explicitly laid it out:
“Those seeking profits, were they given total freedom, would not be the ones to trust to keep government pure and our rights secure. Indeed, it has always been those seeking wealth who were the source of corruption in government.”
But Republicans on the Supreme Court weren’t reading the Founders. They were instead listening to the billionaires who helped get them on the Court in the first place. Who had bribed them with position and power and then kept them in their thrall with luxury vacations, “friendship,” and gifts.
Two years after the 1976 Buckley decision, the Republicans on the Supreme Court struck again, this time adding that the “money is speech and can be used to buy votes and politicians” argument applied to corporate “persons” as well as to billionaires. Lewis Powell himself wrote the majority opinion in the 1978 Boston v Bellotti decision.
Justices White, Brennan, and Marshall dissented:
“The special status of corporations has placed them in a position to control vast amounts of economic power which may, if not regulated, dominate not only our economy but the very heart of our democracy, the electoral process.”
But the dissenters lost the vote, and political corruption of everything from local elections to the Supreme Court itself was now virtually assured.
Notice that ruling came down just two years before the Reagan Revolution, when almost all forward progress in America came to a screeching halt.
It’s no coincidence.
And it’s gotten worse since then, with the Court doubling down in 2010 with Citizens United, overturning hundreds of state and federal “good government” laws dating all the way back to the late 1800s.
Thus, today America has a severe problem of big money controlling our political system. And last night it hit its peak, putting an open fascist in charge of our government.
No other developed country in the world has this problem, which is why every other developed country has a national healthcare system, free or near-free college, and strong unions that maintain a healthy middle class. It’s why they can afford pharmaceuticals, are taking active steps to stop climate change, and don’t fear being shot when they go to school, the theater, or shopping.
It’s why they are still functioning democracies.
The ability of America to move forward on any of these issues is, for now, paralyzed with the election of Trump and the GOP taking over the Senate.
This is not the end, though; hitting bottom often begins the process of renewal.
Many Americans will continue to speak out and fight for a democracy uncorrupted by the morbidly rich.
And so will I.
Keep ReadingShow Less
Social Workers Must Lead the Charge to Help Vulnerable Americans Vote
Voting is more than a civic duty. It is a form of empowerment.
Oct 30, 2024
A recent UCLA study found that 2 million people with felony convictions have the right to vote, but misinformation and lack of clarity can prevent them from exercising this right. Similar trends are pervasive in other marginalized communities – such as those experiencing homelessness and recent immigrants – which is why social workers are uniquely positioned to help empower citizens to vote this election cycle. As the 2024 presidential and state elections approach, doing so is more important than ever.
Many of the individuals we work with are politically and socially disenfranchised, and thus turn out to the polls in much lower numbers. However, low voter turnout in these communities reinforces a cycle of neglect, as elected officials are less inclined to allocate resources to areas that don’t engage in the political process. It also means that their voice isn’t heard, even when issues that directly impact them are on the line.
Social workers can help break this cycle by showing clients how their personal struggles are linked to policy decisions. For example, as few as 10% of unhoused individuals vote in elections, while this year alone more than 2,000 bills about housing and homelessness were introduced in 48 of 50 states—not to mention the other economic and social policies enacted that affect the state of homelessness and welfare of unhoused individuals. In essence, the clients that we work with are often disproportionately affected by the outcomes of elections—and deserve a voice.
Voting is one of the most direct ways individuals can influence policies on education, healthcare, housing and social services. Research from the University of Connecticut shows that higher voter turnout leads to better health, education and economic outcomes, particularly for low-income populations. When communities vote, they compel elected officials to pay attention. Social workers, as trusted advocates, can help bridge the gap between disempowered individuals and the political system that governs their lives.
Voting is one of the most direct ways individuals can influence policies on education, healthcare, housing and social services.
Doing so means first becoming more informed about the voting process ourselves. For many of the people we serve, voting feels daunting. Some don’t know if they are eligible, how to register, or where to vote. Social workers can demystify the process by providing clear, factual information about registration, poll locations, absentee ballots and early voting. Our role is to ensure our clients know these rules and are prepared to vote.
Armed with information, we can better help clients identify registration deadlines, voting locations and nonpartisan resources on candidates and issues. By integrating voter education into our practice, we can impact voter turnout in communities often overlooked by policymakers.
Beyond registration, social workers can help clients make informed decisions at the ballot box. We can help identify the issues that matter most to them: For instance, many of our clients are directly affected by policy decisions on food assistance, education reform, healthcare access, and criminal justice. Whatever the topic, we can help them find reliable, nonpartisan information about candidates, and encourage thoughtful participation in the election. This isn’t about endorsing any candidate – it’s about ensuring our clients have the information they need to vote for the candidates and policies that align with their best interests.
Voting is more than a civic duty. It is a form of empowerment. When people vote, they have a say in decisions that affect their lives, from local issues like school funding to national debates on healthcare and immigration. For those who have been marginalized or feel disconnected from society, this ability to effect change can be incredibly empowering.
With the 2024 elections nearing, social workers have a crucial role to play in creating a stronger and more inclusive democracy. Many of the people we serve are from marginalized and traditionally underserved communities, and feel disconnected from not just politics, but their civic community. They may have been taught their voice doesn’t matter, and thus believe that voting won’t have an impact—and doesn’t have the power to change their lives. This is where social workers can make a difference.
We have an opportunity to educate and encourage participation in a system that directly affects the well-being of our clients and communities. Our work doesn’t stop with addressing the immediate needs of our clients—it extends to advocating for systemic change that can improve the lives of entire communities. And few actions are as powerful in shaping systems as casting a vote.
Keep ReadingShow Less
The Pro-Trump Oligarchs Driving Americans Into Homelessness
The principle cause of today’s crisis of homelessness and housing affordability has one, single, primary cause: billionaires treating housing as an investment commodity.
Oct 26, 2024
America’s morbidly rich billionaires are at it again, this time screwing the average family’s ability to have decent, affordable housing in their never-ending quest for more, more, more. Canada, New Zealand, Singapore, and Denmark have had enough and done something about it: We should, too.
There are a few things that are essential to “life, liberty, and the pursuit of happiness” that should never be purely left to the marketplace; these are the most important sectors where government intervention, regulation, and even subsidy are not just appropriate but essential. Housing is at the top of that list.
A few days ago I noted how, since the Reagan Revolution, the cost of housing has exploded in America, relative to working class income.
It seems that everywhere you look in America you see the tragedy of the homelessness these billionaires are causing. Rarely, though, do you hear about the role of Wall Street and its billionaires in causing it.
When my dad bought his home in the 1950s, for example, the median price of a single-family house was around 2.2 times the median American family income. Today the St. Louis Fed says the median house sells for $417,700 while the median American income is $40,480—a ratio of more than 10 to 1 between housing costs and annual income.
In other words, housing is about five times more expensive (relative to income) than it was in the 1950s.
And now we’ve surged past a new tipping point, causing the homelessness that’s plagued America’s cities since former U.S. President George W. Bush’s deregulation-driven housing- and stock-market crash in 2008, exacerbated by former President Donald Trump’s bungling America’s pandemic response.
And the principal cause of both that crash and today’s crisis of homelessness and housing affordability has one, single, primary cause: billionaires treating housing as an investment commodity.
A new report from Popular Democracy and the Institute for Policy Studies reveals how billionaire investors have become a major driver of the nationwide housing crisis. They summarize in their own words:
— Billionaire-backed private equity firms worm their way into different segments of the housing market to extract ever-increasing rents and value from multi-family rental, single-family homes, and mobile home park communities.
— Global billionaires purchase billions in U.S. real estate to diversify their asset holdings, driving the creation of luxury housing that functions as “safety deposit boxes in the sky.” Estimates of hidden wealth are as high as $36 trillion globally, with billions parked in U.S. land and housing markets.
— Wealthy investors are acquiring property and holding units vacant, so that in many communities the number of vacant units greatly exceeds the number of unhoused people. Nationwide there are 16 million vacant homes: that is, 28 vacant homes for every unhoused person.
— Billionaire investors are buying up a large segment of the short-term rental market, preventing local residents from living in these homes, in order to cash in on tourism. These are not small owners with one unit, but corporate owners with multiple properties.
— Billionaire investors and corporate landlords are targeting communities of color and low-income residents, in particular, with rent increases, high rates of eviction, and unhealthy living conditions. What’s more, billionaire-owned private equity firms are investing in subsidized housing, enjoying tax breaks and public benefits, while raising rents and evicting low-income tenants from housing they are only required to keep affordable, temporarily. (Emphasis theirs.)
It seems that everywhere you look in America you see the tragedy of the homelessness these billionaires are causing. Rarely, though, do you hear about the role of Wall Street and its billionaires in causing it.
The math, however, is irrefutable.
Thirty-two percent is the magic threshold, according to research funded by the real estate listing company Zillow. When neighborhoods hit rent rates in excess of 32% of neighborhood income, homelessness explodes. And we’re seeing it play out right in front of us in cities across America because a handful of Wall Street billionaires are making a killing.
As the Zillow study notes:
Across the country, the rent burden already exceeds the 32% [of median income] threshold in 100 of the 386 markets included in this analysis….
And wherever housing prices become more than three times annual income, homelessness stalks like the grim reaper. That Zillow-funded study laid it out:
This research demonstrates that the homeless population climbs faster when rent affordability—the share of income people spend on rent—crosses certain thresholds. In many areas beyond those thresholds, even modest rent increases can push thousands more Americans into homelessness.”
This trend is massive.
As noted in a Wall Street Journal article titled “Meet Your New Landlord: Wall Street,” in just one suburb (Spring Hill) of Nashville:
In all of Spring Hill, four firms… own nearly 700 houses… [which] amounts to about 5% of all the houses in town.
This is the tiniest tip of the iceberg.
“On the first Tuesday of each month,” notes the Journal article about a similar phenomenon in Atlanta, investors “toted duffels stuffed with millions of dollars in cashier’s checks made out in various denominations so they wouldn’t have to interrupt their buying spree with trips to the bank…”
The same thing is happening in cities and suburbs all across America; agents for the billionaire investor goliaths use fine-tuned computer algorithms to sniff out houses they can turn into rental properties, making over-market and unbeatable cash bids often within minutes of a house hitting the market.
After stripping neighborhoods of homes young families can afford to buy, billionaires then begin raising rents to extract as much cash as they can from local working class communities.
In the Nashville suburb of Spring Hill, the vice-mayor, Bruce Hull, told the Journal you used to be able to rent “a three bedroom, two bath house for $1,000 a month.” Today, the Journal notes:
The average rent for 148 single-family homes in Spring Hill owned by the big four [Wall Street billionaire investor] landlords was about $1,773 a month…
As the Bank of International Settlements summarized in a 2014 retrospective study of the years since the Reagan/Gingrich changes in banking and finance:
We describe a Pareto frontier along which different levels of risk-taking map into different levels of welfare for the two parties, pitting Main Street against Wall Street… We also show that financial innovation, asymmetric compensation schemes, concentration in the banking system, and bailout expectations enable or encourage greater risk-taking and allocate greater surplus to Wall Street at the expense of Main Street.
It’s a fancy way of saying that billionaire-owned big banks and hedge funds have made trillions on housing while you and your community are becoming destitute.
Ryan Dezember, in his book Underwater: How Our American Dream of Homeownership Became a Nightmare, describes the story of a family trying to buy a home in Phoenix. Every time they entered a bid, they were outbid instantly, the price rising over and over, until finally the family’s father threw in the towel.
“Jacobs was bewildered,” writes Dezember. “Who was this aggressive bidder?”
Turns out it was Blackstone Group, now the world’s largest real estate investor run by a major Trump supporter. At the time they were buying $150 million worth of American houses every week, trying to spend over $10 billion. And that’s just a drop in the overall bucket.
As that new study from Popular Democracy and the Institute for Policy Studies found:
[Billionaire Stephen Schwarzman’s] Blackstone is the largest corporate landlord in the world, with a vast and diversified real estate portfolio. It owns more than 300,000 residential units across the U.S., has $1 trillion in global assets, and nearly doubled its profits in 2021.
Blackstone owns 149,000 multi-family apartment units; 63,000 single-family homes; 70 mobile home parks with 13,000 lots through their subsidiary Treehouse Communities; and student housing, through American Campus Communities (144,300 beds in 205 properties as of 2022). Blackstone recently acquired 95,000 units of subsidized housing.
In 2018, corporations and the billionaires that own or run them bought 1 out of every 10 homes sold in America, according to Dezember, noting that:
Between 2006 and 2016, when the homeownership rate fell to its lowest level in 50 years, the number of renters grew by about a quarter.
And it’s gotten worse every year since then.
This all really took off around a decade ago following the Bush Crash, when Morgan Stanley published a 2011 report titled “The Rentership Society,” arguing that snapping up houses and renting them back to people who otherwise would have wanted to buy them could be the newest and hottest investment opportunity for Wall Street’s billionaires and their funds.
Turns out, Morgan Stanley was right. Warren Buffett, KKR, and The Carlyle Group have all jumped into residential real estate, along with hundreds of smaller investment groups, and the National Home Rental Council has emerged as the industry’s premiere lobbying group, working to block rent control legislation and other efforts to control the industry.
As John Husing, the owner of Economics and Politics Inc., told The Tennessean newspaper:
What you have are neighborhoods that are essentially unregulated apartment houses. It could be disastrous for the city.
As Zillow found:
The areas that are most vulnerable to rising rents, unaffordability, and poverty hold 15% of the U.S. population—and 47% of people experiencing homelessness.
The loss of affordable homes also locks otherwise middle class families out of the traditional way wealth is accumulated—through home ownership: Over 61% of all American middle-income family wealth is their home’s equity.
And as families are priced out of ownership and forced to rent, they become more vulnerable to homelessness.
Housing is one of the primary essentials of life. Nobody in America should be without it, and for society to work, housing costs must track incomes in a way that makes housing both available and affordable.
Singapore, Denmark, New Zealand, and parts of Canada have all put limits on billionaire, corporate, and foreign investment in housing, recognizing families’ residences as essential to life rather than purely a commodity. Multiple other countries are having that debate or moving to take similar actions as you read these words.
America should, too.
Keep ReadingShow Less
Most Popular