Amerikai Magyar Szó, 1981. július-december (35. évfolyam, 27-50. szám)
1981-07-02 / 27. szám
AMERIKAI MAGYAR SZÓ Thursday, July 2. 1981. 2. BtfaEUHraiaia unan Prometheus of the Moneybags by Joseph Budish, Consulting Economist In the N.Y. Times of June 12 economist Leonard Silk said that George Gilder’s book, “Wealth and Poverty”, has been "bailed by the President as a vital expression of his own philosophy” and by David Stockman, the budget director, as “Promethean in its intellectual power and insight.” The intellectual level of this letter-day Prometheus is epitomized in the following quotation from Gilder’s book: “A successful economy depends on the proliferation of the rich, on creating a large class of risk-taking men who are willing to shun the easy channels of a comfortable life in order to create new enterprise, win huge profits, and invest them again.” Silk’s own comment is “The President’s tax program would make these words into flesh.” There is no doubt that the Reagan crew will break its collective back for the “risk-taking men” of big capital, but winning “huge profits” is not exactly a new experience for the great interlocking blocks of financial -industrial monopoly, if we can raise our heads above the floor of verbiage coming out of Washington we can take a quick look at the record. In the five years from 1976 through 1980 all corporate profits net after taxes, totalled just over 800 billion dollars, officially. This does not include $ 623.8 billion in “Capital Consumption Allowances”. The 500 largest industrial corporations (not including banks, utilities like ATT or Con Edison, etc.) were about 0.23 % of the roughly 220.000 corporations but made over 40 % of the net profit for the five years, or S 323 billion. This profit slice of the top 500 increased from 31 % in 1976 to a hair under 50 % of total corporate profits in 1980. Rockefeller’s Exxon deserves special mention. Exxon’s net after taxes more than doubled, from $ 2,422.494.000 in 1977 to $ 5.650.000.000 in ’80, for an unbelievable total of $ 15,131,207.000 for the four years, a real hardship case that moved the soft-hearted Mr. Reagan to lift all controls on oil prices as soon as he took office. As for the banks, they are not exactly in need of welfare. Net income after taxes of insured commercial banks in the U.S. went from $ 7,843,277,000 for 1976 to $ 12,838,487.000 for 1979 (the latest FDIC figure available) or a profit increase of 83 % before Reagan took office. Here also the biggest take the cream. In 1979 there were 33 banks, 0.233 % of the 14,159 insured commercial banks, that had assets of over $ 5 billion. These 33 made $ 3,971,396,000, or 31 % of the total net banking profit. What good did all this flood of “huge profits” do you and me,the average citizen who works for a living? How much of these billions “trickled down” to us? Zilch. In fact, less than zero. The “trickle” went up, not down, and it was not such a “trickle”. Department of Labor “Spendable Average Weekly Earnings” for all private non-agricultural workers, in constant 1967 dollars (that is, adjusted for inflation) are: 1. married worker with 3 dependents $ 91.42 in 1976 and S 83.56 in 1980, a drop of 8.5 %, and 2. single worker with no dependent S 84.05 in 1976 and $ 76.45 in 1980, a drop of 9 %. Under Reagan policies the contrast between rising profits and declining standard of living will certainly become sharper. No wonder that as Silk says, “On the whole, business is content...They are happv to see a return of the biblical principle that rural America once expressed as ‘Them what has, gits’.” T0JHE EDITOR Here is another Hungarian that is looking forward to more English pages in your paper. I am happy to read the only press that writes the truth as it is. We sure need more truth about our so-called leaders, like Reagan putting us backwards. At his age he should have retired and we should have young and progressive ideas in the White Housed also want to thank our Detroit Petőfi Club member for suggesting the writing in half and half. This way I get the front page to read, my husband reads thed rest of the paper and tells me the news. We shall always support your paper along with all my relatives. Good luck to you in the future. Helen Valentine, Taylor, Mich. GREETING TO HUGO GELLERT Thanks for the “Jubilee” catalogue which I enjoyed fully - to say the least... We are indeed proud of your devotion to such a great cause. With kindest regards, Abe Harriton let us learn Hungáriáit t PASSPORT, VISA UTLEVEL, VIZŰM Where must I apply for a passport [visa]? Where’s the Passport Office? Is your passport in order? My passport has not yet been visaed. Where can I have my visa prolonged? I want to prolong it for two days [a week], 1 He’s been refused a visa. Get your passports ready, please. Hol kell útlevelet [vízumot] kérnem? Hol van az útlevélhivatal? Rendben van az útlevele? Még nem láttamozták az útlevelemet. Hol hosszabbíttathatom meg a vízumomat? Két nappal [egy héttel) akarom meg- hosszabbíttatni. Nem kapott vízumot. Kérem, készítsék elő az útleveleket 1 AMERIKAI , MAGYAR SZÓ USPS 023-980 ISSN 0194-7990 Published weekly, e*c. last week in July and 1st 2 weeks in August by Hungarian Word Inc. Inc. 130 E 16 St. New York. NY. 10003. Ent. as 2nd Class Matter, Dec. 31. 1952 under the Act of March. 21.1879, at the P.O. of New York, N.Y. Szerkeszti a Szerkesztő Bizottság Előfizetési árak New Yorkban, az Egvesűlt Államokban egy évre $ 18.- félévre $ 10.- Kanadaban es minden más külföldi országban egy évre $ 20.- félévre 112.- Postnjastert Send address changes to Hungarian Word, Inc. 130 E 16 St. New York, NY. 10003. The Taking of a Global Pawn by Alison Király This past year, about 14.000 people have been killed in political violence; much of the killing has been done by the Government’s death squad called “ORDEN”, which was set up with the aid of the United States and is presently being partially financed by some of the wealthy landowners. The brutality of ORDEN is almost beyond description. This organization and the various o- ther right-wing death squads now operating in El Salvador may or may not be totally under Government control- the exact relationship is unclear - but the majority of observers agree that they could not function as effectively as they now do without the toleration of El Salvador’s leaders. In recent days it has become clear that a good many Americans are worried about what we are doing in El Salvador. This worry is clearly shown by a recent Gallup Poll. The statistic show that of the people polled 10 to 1 came out against U.S. military and economic aid to the present Govern- ment. President Reagan and Secretary of State Haig say that we are helping the El Salvadoran Government stamp out Communist infiltration in El ! Salvador, if our Government believes that the present El Salvadoran leaders are “going after com- j munists”, how can it explain the killing of Archbishop Romero last year after he had spoken out for the rights of El Salvadoran peasants? Are we to assume that an Archbishop of the Roman Catholic Church was a Communist? So far, in addition to Romero, nine priests, one seminary student and four U.S. missionaries have been murdered. Most observers, both in and out of El Salvador, believe that the responsibility for these killings rests with the Government security forces and officially-tolerated right-wing death squads. As Raymond Bonner has reported in the N.Y. Times, “most of the priests who have been killed or threatened were encouraging peasants to demand improvements in their lives, or, like the American nuns, distributing food and clothing.” Are these the people who are considered “Communists” to be wiped out by the El Salvadoran Government with the help of the USA? It would be a terrible indictment of the American people if the only time we can recognize disaster and pain is when we are directly involved in it! For this reason, every U.S. citizen - particularly the young people who will be called upon to fight - should make a serious effort to truly understand what is happening in El Salvador. Only then can we urge our elected officials to design an effective course of action for our country and avoid future tragedies like Vietnam. In the words of philosopher George Santayana, “Those who cannot remember the past are condemned to repeat it.” The HUGO GELLERT TESTIMONIAL SOUVENIR JOURNAL contains illustrations and an in-depth assessment of the artist’s life and work. Copies are available for S 2.00 each. Add 75 cents for postage For orders, please make checks or money orders payable to the HUGO GELLERT TESTIMONIAL COMMITTEE 130 E 16 St. New York,NY 10003.
