USW International President Leo W. Gerard and progressive talk show host Leslie Marshall this week discussed President Obama’s State of the Union address and his call to remedy the rapidly expanding wealth gap.
Addressing the widening disparity between the rich and poor requires urgent action, said Gerard. If current trends continue, in only a few short years, the richest 1 percent will own more of the world’s wealth than the other 99 percent combined, devastating not only the middle class, but also the economy as a whole.
Fortunately, economic growth and bolstering the working class go hand in hand, said Gerard. Simple solutions like reforming the tax code, alleviating student debt burdens, increasing the minimum wage and renovating the country’s infrastructure would all put money in the hands of working people, while also stimulating the economy.
Collective bargaining and a healthy labor movement are also essential. “Every CEO in the world negotiated the terms of their employment with someone from their board of directors,” said Gerard. “Well if they have the right to do that, why don’t their workers have the right to sit down and negotiate with their employer? If we could do that, then we could negotiate our fair share of the wealth we’re creating.”
“We’ve got to challenge income inequality,” said Gerard. “We’ve got to challenge the fact that trade as it currently exists has been costing us millions of jobs. We’ve got to fight for modernizing our infrastructure. All of those things helped create the wealth gap, and if we’re going to tackle the wealth gap, we have to fight for those things.”
To hear the whole conversation, click the audio below:
Background Material
Wealth Having It All and Wanting More
The Obama tax proposals: Tailored cuts and hikes
The Economic Message of Last Night's State of the Union, in Three Images