economics

Oct
28

Jesus taught neither violence nor passivity in response to financial exploitation. Jesus instead taught a prophetic, nonviolent, and active third way to respond to economic oppression and injustice that empowers the disenfranchised and exposes the corruption in the economic systems. Jesus said that when someone seeks to exploit you economically by suing you for your clothes off your back, you are to take off all your clothes (your inner garment too) in public and give it all to the greedy people suing you. Jesus taught his followers to strip naked in public court and hand over their underwear, which in effect says something like, “You think I’m naked? You know what’s really naked? Your greed and self-interest.” The humiliation then fell on the people whose greed was so rampant it was unclothing people, taking their houses, their lands, their possessions, their incomes, their hopes, and even the very shirts off their backs.

“When someone sues you for your outer garment, give them your undergarment as well” (Matt. 5:40). This seemingly absurd teaching of Jesus is actually a powerful way to take a public action against economic exploitation, corruption, and greed—and now is the time for us to expose naked corporate self-interest by baring our own bodies in public. One way to do this is to be sure and participate in Bank Transfer Day on November 5.

Then on November 12, 2011—Naked Greed Day—gather at banks, corporations, and trading companies that have amassed billions of dollars at the expense of the 99% and remove one piece of clothing as a symbolic gesture to expose their greed, so that it is no longer clothed and hidden. We can publicly oppose corporate greed by removing one piece of clothing as a sign to the world that we the people are being stripped to our underwear by the destructive economic policies and practices of complicit corporations and governments. The self-interest that damages the common good must be exposed, and Jesus taught that a powerful way to expose it was to expose oneself. These removals of clothing should be done in ways that respect the dignity of children and all people, for the businesses we expose respect neither children nor all people as much as they should, and the honor of our actions of protest must exceed theirs. These removals of clothing should also not be wasted and left in front of the businesses, but should be donated when possible to those who need them, so that our nakedness that exposes the Naked Greed of the wealthiest already begins to clothe others who are in need.

Humiliating ourselves can invite those who profit so much from the low wages paid to the majority to change their behavior, or at least it can focus attention on them in a new way so that respect for their exploitative business acumen is undermined and laid bare. The removal of clothes in public to humiliate oppressors was done in South Africa to oppose Apartheid, in Liberia to end the wars and oust Charles Taylor, and at other significant times in history.

The historical context for Jesus’ teaching was the indebtedness that many people in the Roman occupations experienced. Low wages and laws that favored the wealthy led to loss of land to pay debt, which led to more debt for the landless peasants who labored on the increasingly large estates of the wealthy, which led to the wealthy and landed lenders suing the poor for the shirts off their backs as collateral for the loans.

Picture a courtroom with judges, witnesses, prosecutors, observers, and the accused poor person. The poor person would be the poorest of the poor if all they have for collateral is their outer garment, their robe—their clothes! Perhaps it’s a farmer who lost his land because of imperial legislation that consolidates land in the hands of the few, thus creating an overabundance of people who will work for poverty wages and who accumulate debt just to survive. The prophet Amos condemned this behavior: “They who trample the head of the poor into the dust of the earth … lay themselves down beside every altar upon clothing taken as collateral” (2:7-8).

The rich began seeking nonliquid investments to secure their wealth. Land was best, but it was ancestrally owned and passed down over generations, and no peasant would voluntarily relinquish it. Exorbitant interest, however, could be used to drive landowners ever deeper into debt. And debt…created the economic leverage to pry Galilean peasants loose from their land. By the time of Jesus we see this process already far advanced: large estates owned by absentee landlords, managed by stewards, and worked by tenant farmers, day laborers, and slaves. It is no accident that the first act of the Jewish revolutionaries in 66 C.E. was to burn the Temple treasury, where the record of debts was kept (Walter Wink, Engaging the Powers, p. 178).

A poor person with no land, no assets, and no money is being sued for his shirt to make sure that he repays his debt. All he has is his clothes and his body. When the judge says that the poor person is to give his outer garment to the creditor, the poor person is told by Jesus to strip off all his clothes and stand there completely naked in the courtroom. In front of everybody, in public, expose their injustice and corruption and greed and exploitation by exposing his own body. It is the system that is corrupt and guilty, not the poor person who is in debt.

Jesus’ teaching left the poor person’s body intact and whole, only naked and exposed. And that nakedness did not shame the poor person as much as it shamed the people who caused it to happen: the one suing as well as the system that allows such an atrocity to happen.

And this third way of dealing with economic exploitation and abuse that is neither violent nor passive is one of the powers of the Occupy Movement. One could fight economic exploitation with violence by killing the creditors and legislators for destroying so many lives, but even though that has happened, it is not wise. Or people could organize a violent revolution to change the system, but even though that has happened, it is not wise either. There are violent ways to reduce debt and set the oppressed free, but in my opinion these must be rejected. Yet it is why those who own the loans have access to such powerful militaries—to make sure violent debt reduction options are less likely to happen.

But I like to imagine a nonviolent revolution that includes debts being forgiven as credit card accounts in corporate computers are erased and people around the world have trillions of dollars of credit card debt erased. Mortgage interest rates lowered, yes! But also mortgage principal balances lowered. Imagine a revolution where billions of dollars of debts owed by countries in the global south to billionaires in the global north were just erased. Millions, no billions, of people would rejoice and there would be a very few very frustrated millionaires and billionaires. But there are nonviolent ways—and legislation is one of them—to persuade and require the purveyors of economic injustice to reduce debt, increase wages, and contribute more to the common good of all people.

A passive way to deal with having the shirt sued off your back is just to go along with it silently, and many people choose to do this. Give them your clothes and go home. At least you still have your underwear. The wages many were (and are) paid for working all day every day could not cover the costs of rent, food, and basic necessities so you had to borrow just to be able to feed your family. Now they are taking your clothes, your robe that keeps you warm at night, to make sure you pay back the loan and interest on food your family has already eaten. A passive response is “That is just the way it is. The world is unjust.” “There is no sense in trying to do anything about it, what can a poor person do anyway?” “You can’t fight City Hall and you can’t fight Wall Street.”

But Jesus did not say, “When someone sues you for your outer garment, you’re probably going to lose anyway so just give it to them and go home and be glad you still have your underwear.” Jesus did not say, “When someone sues you for your outer garment, give it to them but then ambush them on their way home and bash their head in. Then take your clothes back.” Jesus did not say, “When someone sues you for your outer garment, join the violent revolution and overthrow the imperialist pigs and burn the debt records.”

Jesus did say that when someone is destroying you economically you should be neither passive nor violent, but you should expose their greed by taking off your clothes in public. So let’s do it.

 

Two banks to include are Citigroup (with 427 offshore tax dodging subsidiaries) and Bank of America (with 115 offshore tax dodging subsidiaries). According to the Executive Excess 2011 Compensation Survey, 25 companies paid their CEOs more money than they paid Uncle Sam in taxes, two of which are Prudential Financial (CEO compensation $16.2 million; US Federal Income Taxes $722 million refund) and General Electric (CEO compensation $15.2 million; US Federal Income Taxes $3.3 Billion refund). There are concrete ways to fix these problems:

1. Narrower CEO-worker pay gaps, like around 20 to 1 rather than the current 325 to 1.

2. Eliminate taxpayer subsidies for excessive executive pay—“ordinary taxpayers should not have to foot the bill for excessive executive compensation.”

3. Accountability to shareholders for CEO pay.

4. Accountability to broader stakeholders—all of us!—the communities and people that are affected by tax dodging, high CEO pay, and low wages.

@NakedGreedDay

www.EvangelicalsforSocialAction.org

www.pcpj.org

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When the very rich Zacchaeus heard Jesus’ teaching he said, “Look, Lord! Here and now I give half of my possessions to the poor, and if I have cheated anybody out of anything, I will pay back four times the amount.”  If Zacchaeus got only 12.5% of his wealth through cheating that means this promise to Jesus would reduce Zacchaeus to having no possessions.  Calculate it: 50% to the poor right off the top.  Followed by 12.5% of unjustly acquired wealth paid back at 4x the rip-off rate = another 50%.  That’s 100% of his possessions he was willing to release.  Zacchaeus very conceivably was offering to give all that he had away to the poor and the people from whom he stole.  Even if he stole only 10% of his wealth through loopholes, coercion, and gimmicky accounting tricks he would be giving 90% of it away – leaving him with 10% of what he had before he climbed up that sycamore tree and listened to Jesus.

What was Jesus’ response to this amazing proclamation by Zacchaeus?  Jesus said, “Today salvation has come to this house!”  A wealthy person willing to give away his or her wealth – which is often unjustly acquired in at least a few ways – is a sign of the presence of God, of being saved and delivered from the gods of Wealth.  The Bull of Wall Street, fashioned after the ancient money god Baal, destroys lives in its path toward more and more.  People matter more than possessions, and Jesus heard this truth in Zacchaeus’ exclamation of freedom from wealth.

The lesson for #OccupyWallStreet is that Jesus supports the ‘re-redistribution’ of wealth and calls it salvation for all concerned.  When the wealthy give back some of what they’ve taken there is rejoicing and they can experience a freedom otherwise unattainable.  This is ‘re-redistribution’ because the wealth the wealthy have came from the many – it came from the blood, sweat, and tears of those who labor for minimum, more often less than minimum, and often no wages throughout the world.  In mines in Africa, in sweatshops in Asia, in factories in China – those lives of those actual people are transformed into dollars that accumulate in bank accounts and trading accounts on Wall Street.  Why protest Wall Street?  Why occupy Wall Street?  Because it’s where the hundreds of millions of human lives who have been sacrificed to the gods of wealth and industry are now represented – crushed lives who struggle to feed their families generate mountains of possessions and wealth for those on Wall Street and those of us in the USA.

A heart of the Baal, a heart of the quest for wealth and the domination and destruction it entails, is Wall Street.  And those who work within that system can be transformed like Zacchaeus and recognize and admit the injustice of their ways – their ways that are often our ways too.  We turn people into money, when people really do matter more.  To the degree that a society or culture or industry values money and possessions over people to that degree it will be harmful and deeply damaging to all.

Why do I support #OccupyWallStreet and the occupations of the cities of the USA?  Because right after Zacchaeus joyfully experienced salvation and gave away his possessions, Jesus told a parable about the opposite kind of person.  A person who values money more than people and who thus makes life miserable for most.

A man who wanted to be king gave money to his servants and told them to “put this money to work” while he was gone and “occupy ‘til I come.”  The people didn’t want him to be king because he was a hard man who “takes out what he did not put in and reaps what he did not sow.”  A few ‘worked his money’ – which means they worked people – and they were able to double his money while he was gone.  But one man did not do it and was chastised severely by the new king, “Take his mina away from him and give it to the one who has ten minas!”  The others protested that that man already had ten, but the hard king revealed the opposite attitude of Zacchaeus, “I tell you that to everyone who has, more will be given, but as for the one who has nothing, even what he has will be taken away. But those enemies of mine who did not want me to be king over them—bring them here and kill them in front of me.”

This wealthy king reaped where he did not sow, rewarded the servants who became hard like him, punished the servants who would not participate in his oppressive practices of abusing lives so that his money could double quickly, and coupled these excruciating monetary policies with violence and killing so that the money could flow more easily.  High return rates on investments generally necessitate high loss of life rates from the people who make them possible.

This king in this story is not Jesus.  Jesus did not say the famous “occupy ‘til I come” as a line from himself, it’s a line in one of Jesus’ stories about a greedy king who uses violence and intimidation to increase his profits.  A story that Jesus told right after the Zacchaeus experience of salvation through reduction of possessions and wealth!

These two stories together can help us see that 1) in the Zacchaeus story re-redistributing of wealth from the wealthy to the majority (the 99%) is praised by Jesus, and 2) we need to conduct careful and critical analysis of the global trade realities and violent systems that allow lives to be transformed into high monetary returns for a very, very few people.  These kinds of leaders are not wanted by most people (as clearly shared in Jesus’ story) and when challenged they respond violently to protect their profits.

In addition, 3) US citizens can justly demand tight regulations and enforcement on these industries that generate such great wealth – again, it’s human lives that turn into those dollars so we must speak for the lives (we are the lives!) because once they become dollars their voices get co-opted by the ones who control the dollars.  4) US citizens can justly demand higher taxes on those with incomes of millions (and hundreds of millions) of dollars per year because it helps bring balance to a terribly unbalanced system – when the lifeblood of most people go to generate profits for the few, who pay them as little as they can, it is fair and right and just for those profits to be taxed so that social services are provided widely.  Healthcare, education, food programs, the “safety net” that is so important for a healthy civil society must be maintained if we are to be able to claim at all that we value people more than money.  For instance, one 5.6% tax on a million dollar income is $56,000 and that provides about 56,000 breakfasts for kids who wouldn’t get them otherwise.

Jesus said that people cannot serve both God and Wealth (Mammon), and based on his teachings, I think we must also ask whether we can serve both people and money.  I hope those within OccupyWallStreet stay focused on people and emphasize that money is at most a tool, an object to be used for the good of the many and not a goal in itself because then the quest for wealth subordinates and destroys human lives.  All of us, regardless of our social locations, can try to be more like Zacchaeus and less like the hard king who reaps where he does not sow.  And as we’re seeing so clearly, we can organize, re-think the system so that it prioritizes people (especially those most in need), modify our own behavior as needed, and influence policy so that the highest are brought lower a bit and the lowest are brought up a lot.  Hopefully, it can transform from occupations of Wall Street and beyond to elected occupations of executives and legislatures where wiser policies and practices can be implemented.

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Jun
03
Posted by Paul at 11:21 am

The Bush Tax Cuts After Ten Years
Will Nearly Double Budget Deficit if Continued, Mostly Benefit the Rich

State-by-State Fact Sheets

Ten years ago, on June 7, 2001, President George W. Bush signed into law the first of several tax cuts that drove the balanced budget he inherited from President Clinton deep into the red. Last year, Congressional supporters of Bush’s policies pushed through an extension of these tax cuts through the end of 2012.

  • Many lawmakers want to extend the Bush tax cuts again into 2013 and beyond, which would almost double the federal budget deficit.
  • 47.2 percent of the benefits of this tax cut extension would go to the richest five percent of the nation’s taxpayers.
  • The richest one percent would receive an average tax cut of $68,079 in 2013.
  • The poorest 60 percent of taxpayers would receive an average tax cut of just $487 in 2013.

See the national data and state-by-state fact sheets.

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May
03

A Humble Obituary for Osama bin Laden

by John Harris, Christian Peacemaker Teams

Osama bin Laden, organizer, crusader, defender, soldier, terrorist, son, husband, and father has died last night at the young age of fifty-seven.  He was assassinated by the US military at a compound in Pakistan after being on the most wanted list for some twelve years.  He will be remembered primarily for his attack on the World Trade Center and US Pentagon on September 11, 2001.

Born to a multi-millionaire businessman in 1957, he soon thereafter became the son of a divorced and remarried mother.  She had been one of twenty-two wives of Osama’s father.  Osama’s father not had only many wives, but multiple wives.  He would divorce the older ones and marry younger ones.  This man later died in a plane crash when Osama was ten.

Osama, having been born into the wealth of his family, found himself to also be a multi-millionaire at a young age.  But he was more attracted to religion and poetry.  He traveled to Afghanistan in the 1980s where he would become a leader in the struggle against the invasion of the Soviet Union.  With his connections to money in Saudi Arabia, he became a leader and an organizer in the rebellion against the Soviet invasion.  He would later work with the US government, receiving economic and military assistance to defend the Afghan people against the Soviets.

Osama bin Laden believed firmly that his religion, Islam, demanded not merely a personal religion, but  an entire way of life.  This included religious/political law, commonly known as Sharia law.  He continued his efforts to extend the influence of Sharia law to Muslim people groups and nations.  He believed, like so many millions around him, that the Muslim world should be able to practice self-determination and not be subjugated to either a Communist worldview or a Western capitalist worldview.  The Islamic system, he believed, was a system from God that guarded against secularism, Communism, and a free-enterprise system that incorporated usury and economic exploitation of the poor.  While supporting what can be called traditional family values, it did away with alcohol, drugs, pornography, abortion, and the like.  Sharia law, to Osama, offered a world of hope in God, a world where God is lifted up and praised, where banks and businesses would not make money off the backs of the poor, and where families could live safely with honest work and pay, able to praise and follow God according to the Holy Scriptures.

With his emphasis, therefore, in Muslim self-determination, he would also campaign against Western influence on the Muslim world.  Eventually, this would lead to his creation of Al-Qaeda, a group whose goal was to establish Islamic governments in the Muslim world and, therefore, to drive out the influence of US and other Western forces who had successfully established a presence there.  In a similar fashion to the conjecture of the Western nations, Al-Qaeda believed in the use of force to conquer its objectives.

Paralleling the ambition of American heroes like Samuel Adams (The Sons of Liberty) John Brown (The Raid on Harper’s Ferry), and Robert McNamara (The Firestorms on Japan, The Vietnam War), bin Laden and Al-Qaeda propagated both the belief and practice that terrorism is justified, even when it includes women and children.  This is his legacy.  Amongst Al-Qaeda’s actions to bring about this self-determination were the 2001 attacks on New York’s World Trade Center and the US Pentagon, a day that needs no explanation to any US reader.

Over 3000 people were violently killed on that day.  These numbers included women, children, janitors, mail carriers, and the like, people Jesus Christ would refer to as “the least of these.”  Ten years later, he would fall to his own death, served to him by those that agreed, in practice, with his methods, but not when used against them.

I have mixed feelings regarding the death of bin Laden. He was my enemy whom I love. I cried while watching the President’s disclosure and the subsequent dancing in the streets.  It was not a cry of joy, but of sorrow and complexity.  Early today, I was reminded of a Bible verse: “Do not rejoice when your enemies fall, and do not let your heart be glad when they stumble” (Proverb 24:17).

I have spent major portions of my life battling against much of what bin Laden did and what he stood for.

Each summer for the last five years, I have lived in Al-Khalil (or Hebron in Hebrew), a major Arab and Muslim city in Palestine.  T-shirts with bin Laden or Saddam Hussein, while not popular, were available for purchase at the clothing market around the corner from my apartment.  When elections were last held in that city, the political party Hamas won the majority of the votes.

Both Hamas and Al-Qaeda share a common birth from the Islamic Revival of the 1970s, a movement promoting the idea that Islam is the answer for all of life’s issues, from dress to food to Sharia law.  The Muslim Brotherhood, an Egyptian movement, provided the foundational philosophy for both Al-Qaeda and Hamas.  The results of these movements include caring for the poor, providing a quality education for all, a more conservative approach to lifestyle, clothing, and marriage, a political system based on the Holy Scriptures, and militant Jihad, or Holy War, against the infidels.

Al-Khalil  is a place of great despair and war.  It has great poverty.  I watch often as the small children go to the local Muslim charity to gather soup for their families.  As a human rights worker there with Christian Peacemaker Teams, I often intervene when local Jewish settlers ransack their homes, when Israeli military detain their fathers, and when men in sheets attack them on their way to school.  And I am always lovingly invited to the local mosque by my barber Jamal.

One day, a young boy, maybe six years old, followed me through the marketplace as I returned home.  He said, “Do you have a father?  What is your father’s name?”  I responded, “My father’s name is Paul.”   After a continued conversation about our families, he would say, “We both have families.  We both have fathers and brothers and sisters.  Are you a Muslim?”  He knew I wasn’t.  “I would like you to come to the mosque with me and learn about God.  God is a good God that takes care of us.  Don’t you want to become a Muslim?”

If this sweet boy’s family is the average local family, they would have cast their vote for Hamas in the last election.  And if this child was from the section of town in which I live, there is a good chance that he and his family receive assistance from local Muslim charities.  There is a good chance that his relatives have been killed as a result of the ongoing war with the Israelis.

Al-Khalil, due to the social, economic and political circumstances, is a place where suicide bombers are created.  I don’t promote it; I understand it.  It is a result of the cries of the poor and oppressed.  The influences of the Muslim Brotherhood and Hamas, while providing a great beginning for freedom, self-determination, and dignity, also mislead “the least of these” into bearing the sword.

I often think of this young boy.  I pray for his family and his community.  I pray that his people, like the Israelis on the other side of the Green Line, can have self-determination.  I dream of the day when all God’s children can live in both peace and prosperity.  This, I believe, is God’s plan from the dawn of creation.

I also pray that he can live in a democratic society where his civil rights and civil liberties are guaranteed.  While people like Osama bin Laden have brought great courage and respect to many Muslims seeking self-determination, they have brought along with it the subjugation of women, the denial of basic rights for political and religious dissidents,  and a very narrow view of what it means to have a Muslim society.  And to their detriment, they bring the idea that killing women and children is justified to put God’s plan into action.

Sounds like Herod the Great who killed all the infants after the birth of Jesus.  Sounds like the bombs dropped on Hiroshima and Nagasaki.

On 9-1-1, the Western media showed video footage of street celebration in Palestine.  We were disgusted.  (It is a wonder that we repeated their actions last night.)

The day after 9-1-1, Hillary Clinton got on CNN and told America that they hate us because of our freedoms.  Ask any Arab why we are hated by so many.  They will tell you that we are hated for our foreign policy in the Islamic world.

I wish to this day that I could bring Hillary to Al-Khalil to meet the little boy that sought to lovingly convert me to Islam, to see what the war of Israeli imperialism has brought to his family and community, and for her to tell him that the United States, under the direction of her husband as well as her current boss, donates two billion dollars a year, mostly in weapons, to the Israeli government.  Hillary forever lost my vote that day, as she became a self-appointed leader in the disinformation campaign, just like Osama bin Laden and Al-Qaeda.  Why do people like Ron Paul and Ralph Nader get this while Rudolf Giuliani and the rest of us remain, along with Hillary, ignorant and in denial.

So today, we remember Osama bin Laden, born into a broken and dysfunctional home.  Born into a wealth created by the bottom line of a free market economy.  Born into a region crying out for self-determination and common decency.  Born into a time when those in his own religion were providing simple answers to complex situations, solutions that included anti-Semitism and other forms of intolerance.  Born into a world that, in many ways, denies the face of God in the poor, the dispossessed, and the abused.  We pray for his wives and his children.

We also remember the victims of the 9-1-1 bombings, and for their spouses and their children.

We remember all of us born into corrupted wealth and broken homes.

We pray for those of us who rejoice when our enemies fall.

And we pray for a world where there is authentic self-determination, where all live in both peace and prosperity, according to the desire of God our Creator.  We pray for a miracle of God that can make all things right.

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Buffett Says ‘Capricious’ Economy Requires Charity Update1 – BusinessWeek.

This is a good move, Buffett makes some wise and true observations in this article.

“My luck was accentuated by my living in a market system that sometimes produces distorted results,” Buffett wrote. “I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions. In short, fate’s distribution of long straws is wildly capricious.”

“My wealth has come from a combination of living in America, some lucky genes, and compound interest,” he wrote. “Both my children and I won what I call the ovarian lottery. (For starters, the odds against my 1930 birth taking place in the U.S. were at least 30 to 1. My being male and white also removed huge obstacles that a majority of Americans then faced.)”

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