Tag Archive for Bill Barclay

Waging Class War: Donald Trump’s Attack on Equality

The issue of income and wealth inequality is the great moral issue of our time, it is the great economic issue of our time and it is the great political issue of our time.

– Senator Bernie Sanders, May 2015, announcing his candidacy for president

The driving force behind both the decision of Bernie Sanders to seek the presidency and the firestorm that his campaign unleashed is the same as that of Occupy Wall Street: the 1% vs. the 99%. The unifying theme of Sanders rallies, speeches and policies has been the denunciation of “the billionaire class.” Sanders understands better than most that the obscene level of income and wealth inequality in the U.S. – we’re No. 1 among wealthy countries – makes all other problems more difficult to solve.

Read more

CPEG Issues Additional Comments Following Legislative Hearing on LaSalle Street Tax

Following a June 7th presentation to the Illinois legislature by CPEG members Ron Baiman and Bill Barclay, which occured during a hearing on proposed bills to create a “LaSalle Street Tax”, CPEG has issued additional clarifying comments. The comments are in response to a number of issues raised during the hearing.

CPEG LaSalle Street Tax Additional Comments (PDF)

CPEG to Illinois Legislature: LaSalle Street Tax Now!

On June 7th, CPEG members Ron Baiman and Bill Barclay testified before the Illinois House of Representatives on House Bill 106, Introduced by Rep. Mary Flowers of Chicago, which would create a “LaSalle Street”, or Financial Transactions Tax in the state.

Baiman testified that a LaSalle Street Tax would be fair, feasible, and beneficial, adding billions in revenue to the ailing state budget. Barclay testified that talking points from opponents of such a tax are not grounded in real experiences. Download the powerpoint presentations that accompanied their testimony:

Ron Baiman’s Testimony (.pptx)

Bill Barclay’s Testimony (.pptx)

Barclay to SUAA: To Bolster Pensions, Tax LaSalle St.

In an October 1st address to the UIC chapter of the State Universities Annuitants Association (SUAA), CPEG’s Bill Barclay explained the potential benefits of a small LaSalle Street Tax (also known as a Financial Transactions Tax), on Chicago’s two large trading markets. Barclay suggested that some of the estimated $10-12 Billion in revenues that could be generated by the tax could be used to make up for the decades-long failure of the Illinois legislature to keep their pension funding promises.

The SUAA, with over 1,600 members, exists to promote the individual and collective interests and welfare of its members and of all UIC retirees. You can download Barclay’s presentation here (powerpoint), or view the full presentation on Youtube.

Commentary on the October 2014 BLS Jobs Report

On Nov 7th, three days after the 2014 midterm elections, the BLS released its Employment Situation Report for Oct 2014. The numbers are simple and not dramatically different from those that CPEG has analyzed for the past several months.


First, about 214,000 new jobs were created, continuing the string of net private job creation to 56 months, a new record.

Second, leisure and hospitality, health care and social assistance, retail trade and temporary help services – in that order – accounted for almost 3 of every 5 new jobs in October. Over the past year these four job categories accounted for almost half of all new jobs.

Third, the unemployment rate dropped slightly to 5.8%.

Fourth, the labor force participation rate remains very low at 62.8% although the employment/population ratio has risen by 1% over the past year.

Fifth, looking over the longer time span, the “Obama economy” has, to date generated more than 4.5 million new jobs vs the “Bush economy” new job creation of 1.5 million.

Sixth, although not part of the jobs report analysis, federal deficit is below 2% of GDP – lower than the 40 year average.

Few of the voters in the 2014 elections could have told you any of the foregoing – and some would have vehemently denied at least the last two points.

Read more