Why Democrats will not address the real cause of income inequality.
I am hopeful that the public and our political class are coming to terms with income inequality in America and the harm it is doing to our economy and society. At the same time, I am disappointed in the response by my party, the Democratic Party, to the overreaching economic issues of our time.
While raising the minimum wage would do more good than harm, simply raising the minimum wage would help too few people, too little, and could create inequities of its own. More importantly, the minimum wage is a placebo, a distraction from the real labor market forces at work that is bringing the idea of America as a broad-based middle class national, to a close.
Our government over the last 30 years has pursued policies by way of trade agreements, cheap foreign labor embedded in the goods imported to the US and an immigration policy of non-enforcement to increase the supply of labor in the United States. Globalization has been an abject failure for the American middle class. When President Clinton supported NAFTA he sold out to a corporate establishment and took the Democratic Party’s labor market policy 180 degrees in the wrong direction.
Increasing the supply of labor into the US market has had a predictable, and for some, the desired result. While corporate profits are at record highs the value of labor in the market has been diminished to the point where a full-time job no longer provides a place in the middle class.
For a party that holds the moral high ground on so many important issues, it sickens me to see Democrats pandering to foreign nationals who have intentionally broken our immigration law in order to gain an electoral advantage, and to a corporate establishment that is willing to put short-term profits above the economic interest of their employees and their own customers.
It is my wish that the Democratic Party will set aside the interest of foreign nationals and big campaign contributors and return to their core values of supporting a strong and prosperous middle-class.
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