Sunday, March 02, 2008

Black Wonkett on.....Why You Need to Read "The Trap" by Daniel Brook Part I

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Raise your hand if you have college debt.

Raise your hand if you can't buy a house
in the neighborhood you were raised in.

Raise your hand if you don't have health care.

In his new book, Daniel Brook discusses how all of these
issues are intertwined and are disproportionately
affecting young college graduates and the middle class.

Daniels general premise is that 25 year olds, living Brooklyn,
San Francisco and Los Angeles are graduating with
$100K worth of debt , and consequently are choosing to
work in finance instead of public service because they
need to eat and pay off debt.

He goes on to say, that if they founding fathers, based this country

on rebelling against the British Aristocracy, then a system
that forces our best and brightest, especially those that are low
income and poor, to become investment bankers, then
we have lost. This flies in the face
of what America's original
purpose and vision.


To me, it just rings of the Systematic Removal of the

Middle Class from the Cities.

So much of what we see with the inability to
raise a family middle class in the city was brought to us

by Ronald Reagan. He killed unions, de-funded the Legal Services,
under-taxed the hyper affluent and deliberately underfunded
government positions so so that our best minds would
be more inclined to join private industry instead rather than
serve the public.

The Freddie's of the World shouldn't be turned into
Alex P. Keaton's in order to remain living in the city.

The issues crystallize when he focuses on the
challenged facing college graduates and young
families such as exorbitant rent/housing costs,

health care, child care, egregiously low minimum wage.

For the record Bill Clinton continued these policies.
Daniel writes,

" Most American don't connect tax cuts that favor the rich to the countries
growing inequality...because no one- that is the Democratic Party
is not making the point."
One of the first thing President Reagan did was publicly disable
the air traffic controllers union. Wiki provides the short explanation
stating that
Only a short time into his administration Federal air traffic controllers went on strike, violating a regulation prohibiting Government unions from striking.[72] Declaring the situation an emergency as described in the 1947 Taft Hartley Act, Reagan held a press conference in the White House Rose Garden, where he stated that if the air traffic controllers "do not report for work within 48 hours, they have forfeited their jobs and will be terminated".[73] On August 3, 1981, Reagan fired 11,345 striking air traffic controllers who had ignored his order to return to work,[74] breaking the union.[75]

It hasn't always been this way. FDR believed in progressive taxation.

FDR instituted the first minimum wage.

As a result this country experienced some of its most broadly
share prosperity ever seen by this country.

Think about it. Six figure family education/housing debt is a recent
phenomenon. Similarly, the notion of the double digit college
tuition is a post Regan phenomenon.

Daniels rational is that university Board of
Trustees, who set tuition standards, are wealthy,
so they don't see why students would be unable to
afford $35-$50K per year.

With this context, the move to offer more
financial aide to Harvard students
whose parents make less than $150K
per year makes sense.

$150K is the new $75K.


=====
=====

Six Figure College Debt.
Young people making career decisions based on
whether they will have healthcare.

Assets (Housing, Stocks) being taxed at 15% while
wages (our bi-weekly pay checks) are taxed at 28%.
(The above stated tax info is crude, but peep Warren Buffet,
he speaks on it as well
).

What part of the game is that?

Priced out of the Mission, Harlem and Forte Green.
It will take a visionary leader to address this. Our cities
and the future of our country depends on it.


=====
=====

16 comments:

The Lackadaisical Student said...

In Florida (where i live/work/go to school) there are stats that show more people moving out of the state rather than to the state because of failing educational systems, the absence of long term planning by city municipalities, and the rapid decreasing of quality life. It's been proven that public schools do not teach money mgmt and because of standardized testing many high school graduates are entering community college needing math, reading, and science prep courses. the point I am doing my best to make is that as far as visionary leaders are concerned, and taxes, and all the ills which have taken the wind out of the sails of the collective grads bringing out apathy and a need to work for pay rather than passion, is that as gradual as the decline is the climb back up is even more challenging. The question is: Who can step to the plate?

Ive read your blog for a long time and this is my first time responding. You give me reason to think and improve upon myself and others. Thank you.

Mark V said...

Working for private finance companies...or joining the military. The "other" kind of public service.

the prisoner's wife said...

ehhhh....

every time i look at my paycheck stub, i kick myself for ditching the business degree for a MFA. what the hell was EYE thinking? lol

and on 150k being the new 75k....shhhhhhhhhittttt...i WISH i was at 75k.

dude...just talked to my accountant. i owe taxes this year. ain't that about a bia bia.

M.Dot. said...

Ive read your blog for a long time and this is my first time responding. You give me reason to think and improve upon myself and others. Thank you.
==========

Thank you.

You have no idea how affirming this is.

I read his book, three times.
Took notes.

I don't READ ANYTHING three times.

I just wanted to get it right, feel me?

M.Dot. said...

Mark,

I would say military or prison.

Whats bugged about the Prison/Military jawn, is that they are such integral parts of our economy.

Filthy D's favorite shit is, "If you say you are against the war, do you know what it means to be against the war?"

M.Dot. said...

every time i look at my paycheck stub, i kick myself for ditching the business degree for a MFA. what the hell was EYE thinking? lol
========
You are doing what you were put here to do, thats what.

Come on TPW.
As much as you love words and people.

Would you really be happy, content and have your serenity.
Would your soul be right?

YOU and I BOTH now how when that spirit is bent the wrong way,
its as bad as a million addictions.

Please don't think I am going bad on you. You are one of my OLDEST readers and I adore you.

I don't want you to EVER doubt yourself as a teacher. Ever.

You do the work that we are to cowardly to do.

I volunteered at a middle school on Saturday. All I got to say, is I love the kids, but I don't know how yall do it everyday.
-----------

Remember last year when I hella started talking about doing M & A.

My rationale was M & A first.
Then Non profit art stuff.

The thing about it is that it is a Trap.

We criticize individuals, but in reality it is the system that is outta pocket.

There is no REASON why we don't have national pre-k child care, and free and accessible pubic k-16.

NO REASON.

Matthew said...

m. dot and lackadaisical student,

when y'all say we need a visionary leader and somebody to step to the plate do you mean just one leader?

m.dot, i think that by beginning to break down the issue as you have, you've taken a step towards leadership by explaining a problem. its now up to us to follow your example and create a collective vision that utilizes your very important and very well said point, that while we criticize individuals, its really the system thats out of pocket.

no single leader can do anything about this. if the fate of the nation depends on it, those of us with a stake in the fate of the nation got to create an alternative.

bangin post, btw...

the prisoner's wife said...

Please don't think I am going bad on you. You are one of my OLDEST readers and I adore you.
=====

no worries. real talk, i would be bored as hell in an office (as i have been in the past), but oh...to have 125k teaching! that would be THE BUSINESS (as the kids say these days lol).

M.Dot. said...

but oh...to have 125k teaching! that would be THE BUSINESS (as the kids say these days lol).
=======

Gurl.

Don't tell me about the bidness.

Me and Flybug were talking about the benefits/drawbacks of having "a sponsor".

Its amazing what we will think about doing for $$$>.

Anonymous said...

On the real tho;
Anyone seen a Visionary Leader lately?

Torrance Stephens bka All-Mi-T said...

well they do teach u to want to be a salve and not work for yourself so i guess we should expect it

gumshoe said...

$125K for teaching? Ask and ye shall receive:

http://www.nytimes.com/2008/03/07/nyregion/07charter.html?_r=1&oref=slogin&ref=education&pagewanted=all

While I think it's an interesting experiment, paying folks more to do the same old flawed thing is still a band-aid on a bullet-wound.

-gumshoe

M.Dot. said...

Yeah, but Gummy bear,

Look at the fine print.

The application process.

Every High Functioning, Sustainable school needs the following:

-----Strategic, Responsive & Consistent, Teacher/Administrator Involvement.

-----Strategic, Responsive & Consistent, Parental Involvement.

-----Strategic and Responsive Student Involvement.

-----Strategic and Responsive Community Involvement.

125K = Band-aid on Aids.

One word. BURNOUT.

-m.dot

M.Dot. said...

Anonymous Anonymous said...

On the real tho;
Anyone seen a Visionary Leader lately?
=======

WE are the visionaries.

gumshoe said...

Yeah, but Gummy bear,

Look at the fine print.

The application process.

Every High Functioning, Sustainable school needs the following:

-----Strategic, Responsive & Consistent, Teacher/Administrator Involvement.

-----Strategic, Responsive & Consistent, Parental Involvement.

-----Strategic and Responsive Student Involvement.

-----Strategic and Responsive Community Involvement.

125K = Band-aid on Aids.

One word. BURNOUT.

-m.dot

********

I hear you m.dot

I've seen it too many times. This school may solve a local problem, and may even make a point doing it, but one pretty part of a piece of shit...

is still part of a piece of shit.

-gumshoe (gummy bear on my sweet and crafty days)

M.Dot. said...

real talk.

Im bout to go bad on philanthropy.

Its like between my faith, and this daniel brook's and filthy in my head about the unions, and the IMPACT that I have known unions to have on my life....yeah...going bad..

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