Progressive News, Opinion, and Analysis
Justin Katz and I have very different philosophies on what to do about climate change: I think the government should take an activist role in addressing climate change and Katz thinks we should let the free market figure it out.
However, just because our differences are elemental, it doesn’t mean we can’t make 5 minutes of worthwhile television debating the point.
Take it away, Rapp…
Knowing exactly what the future holds is of course impossible, but that doesn’t mean that you shouldn’t have a solid plan laid out for your finances for at least a few years ahead. Circumstances will undoubtedly change, but your plan can change along with it; it’s all about knowing what direction you’re heading in, and setting yourself up to be in the best possible financial situation in the future. With this in mind, there are three main things you can think about right now that will help make sure that you control your money, not the other way round.
Eliminating Debt
Debt eats into the money you have available each and every month. While there’s little you can do to quickly eliminate large commitments such as your mortgage, those smaller instances of credit are the ones that should be top on the list of priorities for anyone who wants to have more of a say in where their money goes. Try to pay off more than you’ve agreed to each month, assuming you’re allowed to, in order to shorten the lifespan of any loans you have, and make them cheaper. Simple things like rounding up your minimum payment each month can really make a difference.
Stock Up on Savings
One of the most commonly given pieces of financial advice is to have a reasonable quantity of savings. This is quite simply because of the point we explained earlier – you never know exactly what might happen in the future. Your job might be secure right now, but if you were made redundant, could you afford to live until you found something new? Most people aim to have between three and six months of living expenses tucked away, and there’s no harm in doing the same. One important point to remember is that it’s not often a good idea to be saving too much money while you still have debts. The longer you hold debt, the more expensive it is, so use the majority of excess money to pay it off.
Plan for Retirement
As young as you might be, the truth is that it is never too early to start thinking about your pension, and if you’re employed, you should be paying in right away. In countries like the UK, where there is a state pension, it can be tempting for people to rely on it, but it is far better to have saved your whole life, especially as people are living longer than ever. Those who want lots of control over their money in later life might benefit from looking at what’s known as a SIPPS, or self-invested personal pension. First provided by James Hay, it allows people to actually make their own investment decisions. Not ideal for everyone, but excellent for those who are savvy with personal finances.
Plan for later life, spend within your means, and keep some cash in reserve and you can be confident that you’ll have control over your finances.
On Thursday, organized labor groups across the country protested in an effort to call attention the proposal to install US Postal counters in more than 1500 Staples stores across the country. Unless this deal is stopped, the net effect will be that personal and business correspondence and packages will soon be handled by a rotating cast of barely trained minimum wage employees instead of by fully trained and well-paid professionals. More good paying jobs that support families will vanish from our economy.
That this is just another outrageous privatization scam and undisguised corporate theft should be obvious.
In Providence, over 100 union members, family and supporters organized outside the Staples on North Main Street to let the public know about this shady backroom deal. Given that Staples is controlled by Mitt Romney’s Bain Capital, the entire scheme seems like a conservative consolation prize to the guy who spent too much of his own money in a hopeless campaign for the presidency.
The united States Post office is our post office. Benjamin Franklin was the first Postmaster General, and our right to a properly functioning government post office is built into the Constitution.
We are all going to miss the US Postal Service when it’s gone, so fight for it now.
Since his ascension to the legislative throne, House Speaker Nicholas Mattiello has adopted the oft-heard, heptasyllabic mantra of “jobs and the economy.” This is an admirable goal, but suggesting that adjusting the corporate and estate taxes will have any effect on the economy as a whole is like saying the best way to jump start a car is by playing with the radio dials.
Rhode Island’s economic engine needs a jump, to get us to the garage for a complete overhaul. In combustion engines, there are three must-have components, the engine itself, an alternator, and a battery. The battery starts the engine, then the alternator kicks in to fire the spark plugs and trickle charge the battery. VROOM!
A New Battery and Alternator
So, here we are at the garage with our barely functioning engine, and the mechanic says, “Well, you definitely need a new battery. This one hasn’t worked well in quite a while. I suggest you upgrade to a Revolving Commerce Fund for new and existing businesses.”
“O.K.,” we say, “what’s that going to run us?”
“Probably about $100 million, but this battery holds a 50 million volt charge for both new and existing businesses.”
“That seems pretty steep. Could we go for a different model?”
“Sure, but I don’t think you’ll get optimal performance out of them. The other bonus with this model is it acts as it’s own alternator. Loan Payments charge the battery.”
Engine Maintenance
The engine isn’t broken, per se, but maintenance is required. We could use an oil change.
“You, see,” says the mechanic, “Your engine is designed to be lubricated by manufacturing, but overseas markets have caused a crack in the oil pan, causing the textile and dye mills of yore to move overseas, and there’s little chance they’re coming back. You need a different grade of oil in the 21st century. If your engine is built for manufacturing, look to green tech, building, and energy.”
If we want our economy to work in the future, we have to a) make sure we have one, and b) prioritize what we’ll need in that future. Green sector jobs create swaths of jobs over the entire spectrum of skill sets.
Let’s say that Panasonic decides to open a solar panel plant here. Not only does the company need the designers and engineers to envision a product, they also need people to work on the production line, in the warehouse, make deliveries, and clean up the office.
Green design and building also employs people throughout the economic strata. One again, designers, architects and engineers have a place in this business, but so do the carpenters, welders, machinery operators, clerks, project managers, and dudes who lug stuff around the site.
Industries that have yet to be born in Rhode Island like waste conversion to energy are waiting for the state to step up and say ‘Yes’ to the future economy. Renewable energy companies are floundering in Rhode Island, waiting for the state to say ‘Yes’ to self-sustenance. The building trades are waiting for the state to say ‘Yes’ to being part of the solution.
Efficiency has to be the first step. Lowering electric bills puts more money in everyone’s pocket. Companies that have embraced efficiency are seeing significant benefits. Banneker, a logistics and supply company based in N. Smithfield, took on several efficiency initiatives, and lowered their operating cost by 60 percent. Not 60 percent off overhead, 60 percent off of the entire budget!
The mechanic also notices worn belts and hoses. He recommends some serious investments in public infrastructure and transit to fix what can be fixed, and nix what can be nixed.
A Note on Transmissions
The transmission in our R.I.-mobile is a healthy and thriving middle class. As long as the middle class has a few extra bucks in their collective pockets, they will spend it. A well maintained middle-class transmission is the only thing that will get this old jalopy moving forward.
As for Mattiello’s mantra, I think the next time I hear the words ‘jobs’, ‘economy’, ‘corporate tax’, and ‘estate tax’ in the same sentence, I will immediately picture him standing on the side of the road, smoke billowing from under the hood of his car as he tries to peer in, and not having the vaguest inkling of a clue what he’s looking at, or how to fix it.
Voter ID is a reaction to the imaginary, nonexistent problem of in-person voter fraud. When Senator Frank Lombardi imagines the law’s repeal, he recounts a weird nightmare scenario in which sleazy politicians send imposters to the polls and forever alter the political landscape.
I heard echoes of the Ghostbusters’ Dr. Peter Venkman in Lombardi’s delivery, “Human sacrifice, dogs and cats living together… mass hysteria!”
Senator Lombardi continues by inventing the statistic that 99% of politicians are ethical, which gets a great reaction from Republican Senator Dawson Hodges:
