UAW President Bob King says country is "not broke"
UAW President spoke at the Detroit Economic Club in Detroit today. King addressed the nation's economy and current contract talks with Detroit automakers.
Michigan Radio's Sarah Cwiek was there.
From Cwiek's report:
UAW President Bob King says the erosion of the American middle class threatens democracy. King addressed a largely business-friendly crowd at the Detroit Economic Club. He says the current tax system squeezes workers the most and heightens economic inequality. King says reforming that system and investing in education should be the country’s top priorities rather than cutting spending. "We’re not broke. So many people seem to say…commentators and others…that we are broke. But we’re not broke. We just need to figure out how to have a fairer system and use our resources better."
The Detroit Free Press reports that King criticized the Tea Party for pushing big spending cuts. King says the economy is suffering from a lack of jobs, not over-spending.
From the Free Press:
“I don’t think the lion's share of the problem is out of control government spending,” King said today at a Detroit Economic Club luncheon in Detroit. “I think our basic problem is ... that we have an extremely unfair tax system in America right now.” In the 1950s, King said, corporate taxes accounted for 27% of the U.S. budget. By 2010, that percentage decreased to less than 10%.
The UAW is in the middle of contract negotiations with Detroit automakers.
Sarah Cwiek reported that King "held up what he calls the 'problem-solving culture' that now exists between the UAW and automakers as a model for the larger economy.
Contract talks are expected to wrap up in September, but King told the crowd that "nobody knows when we will complete."
The Detroit Free Press reports that "King’s cautious comments come two weeks after UAW Vice President Jimmy Settles said negotiations with Ford are ahead of schedule and reports last week that an early deal with General Motors is possible."