You're Probably Getting Screwed
Continuing MLK's Vision for Economic Justice...
Welcome to You’re Probably Getting Screwed, a weekly newsletter and video series from J.D. Scholten and Justin Stofferahn about the Second Gilded Age and the ways economic concentration is putting politics and profits over working people.
Welcome to You’re Probably Getting Screwed!
This week we honored the American Icon, Dr. Martin Luther King, Jr. There are a couple of things that I have really absorbed from his life and legacy. The first is that what’s right is not always popular.
Just look at people’s perception of him a few years before his death compared to more recently.
Which leads me to one of my favorite quotes. It’s from his “Letters from Birmingham Jail.” He wrote “Human progress never rolls in on wheels of inevitability.”
Change doesn’t come easy. And progress is NOT something that’s just given.
And it’s interesting that the same week that we honor a champion of racial justice, social justice and economic justice, the world’s rich and powerful are meeting in Davos, Switzerland at the annual World Economic Forum (WEF).
Oxfam International released their annual inequality report showing the richest 1% bag nearly twice as much wealth as the rest of the world put together over the past few years.
Compared to when Dr. King was alive, we are living in a more technological world, a more modern world and a faster pace world, but at the same time we share similar struggles.
As Dr. King said, “God never intended for one group of people to live in superfluous inordinate wealth, while others live in abject deadening poverty.”
So my challenge to you, what are you going to do to help shape progress? Or, are we just going to have this conversation again next year?
YOU’RE PROBABLY (ALSO) GETTING SCREWED BY:
Billionaires & Monopolists
A new report from Oxfam International (*same as the one mentioned above), Inequality Inc., found that since 2020 the world’s five richest men have more than doubled their fortunes, earning $14 million per hour. The report also argues that unchecked monopoly power is a key driver of inequality.
Still Billionaires & Monopolists
A coalition of advocacy organizations unveiled an aptly titled study (Taken, not earned: How monopolists drive the world’s power and wealth divide) finding the world’s top 20 companies are charging twice as much as smaller firms and use their power to rip off, well everyone.
Hospital Monopolies
According to a new report from National Nurses United, Ascension (a massive nonprofit hospital system with 140 hospitals in 19 states) has used its monopoly power to shut down and consolidate labor and delivery units, particularly in communities of color.
Airline Mergers
In good news, the Department of Justice successfully blocked an airline merger for the first time in 40 years. The proposed merger of JetBlue and Spirit Airlines could have meant fare hikes as high as 40% percent for consumers.
Grocery Mergers
Speaking of mergers, we told you last week about the importance of state government and this week Washington Attorney General Bob Ferguson announced a lawsuit under the state’s antitrust law seeking to block the Kroger-Albertsons grocery mega-merger!
Pesticide Manufacturers
The FTC and a bipartisan coalition of states sued pesticide giants Syngenta and Corteva in 2022 for using rebates and loyalty programs to lock farmers into using their products, leading to higher prices. This week the FTC survived a motion to dismiss, meaning the case can move forward!
Medicare Advantage
The privatization of Medicare continues with the Medicare Payment Advisory Commission releasing data that shows 52% of Medicare beneficiaries are now enrolled in Medicare Advantage, which costs more and covers less.
BEFORE YOU GO
Before you go, I need two things from you: 1) if you like something, please share it on social media or the next time you have coffee with a friend. 2) Ideas, if you have any ideas for future newsletter content please comment below. Thank you.
Standing Tall for All,
J.D. Scholten
I agree that the Managed Care insurance industry is screwing people out of coverage. My family member who is disabled was convinced to switch to the managed care product but now owes $1000s to cover a recent incident when he needed hip surgery, hospital and skilled care. Much of the "care" was not covered!!! They are taking advantage of vulnerable elderly!!
I suggest that you contact Cody Johnston at Some More News. I believe you will find common ground and lots of new article ideas. He has a channel on YouTube that you should really check out.