Saturday, June 4, 2011

U.S. annualized corporate profits: $1.68 trillion in the fourth quarter of 2010.

This past Wednesday, May 31, 2011, Philadelphia's School Reform Commission passed the District's budget.  The SRC also passed a resolution to cancel previously approved  collective bargaining agreements if they are not re-negotiated by Jun 30, as if unions were somehow responsible for the District's budget deficit.

When it comes to laying off teachers, eliminating programs, or dishonoring the legacy of teachers unions, where is the focus on the incredible wealth being amassed in the private sector?  If there's a shortage in funds for public education, then raise taxes.  This is an argument that the SRC can stand behind.

Although it may not be the most well-received (at least nationally), I wish the SRC had said something like "We call on local, state and federal governments to structure taxes to support public education as a foundation for a civil democracy."  After all, the New York Times reported that as of "...Jun, 2009, U.S. annualized corporate profits rose 42 percent, to a record $1.68 trillion in the fourth quarter of 2010."

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