Left Coast Voices

"I would hurl words into the darkness and wait for an echo. If an echo sounded, no matter how faintly, I would send other words to tell, to march, to fight." Richard Wright, American Hunger

Archive for the tag “US economy”

The Elephant in the Pharmacy

Elephant Pharmacy was an exciting discovery to a holistic immigrant to Berkeley. I bought my herbs in bulk and made up my own favorite (and affordable) herbal formulas. We often bought gifts there, able to find unique, cool, and environmentally friendly gifts.

Life moves on. Shattuck Avenue ain’t what it used to be and Gourmet Ghetto is a rare night out for many of us as we need to watch our wallets if we are to see out the month.

What is tough to accept is that the site of Elephant Pharmacy will be replaced by a Walgreens. Now let me confess that I shop at Walgreens and I understand why it is a more useful addition in these troubled economic times. I don’t even think that it is the fact that we have at least three Walgreens along Shattuck Avenue, and a couple of CVS’s to boot.

It is the fact that we have lost another local business and one that was so…Berkeley. It is the fact that you could have an introductory lesson in Tai Chi, yoga, or any other of a number of disciplines that help improve one’s health. It is the free lectures, the comfortable seating while you peruse their books, and the knowledgeable staff that were there to help. They also, by the way, sold allopathic medicines as well.

The US economy is reeling for a number of reasons. One is the $1 trillion+ sickness industry (please don’t call it health – no one who is healthy uses it). People are not just sick, they are bankrupting themselves when they get sick, and there is a direct correlation between sickness and economic production and innovation.

If this country is ever going to create a sustainable economy, it will need to get healthy. For this reason, we need more Elephant Pharmacies and less Walgreens.

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Alon Shalev is the author of The Accidental Activist (now available on Kindle) and A Gardener’s Tale. He is the Executive Director of the San Francisco Hillel Foundation, a non-profit that provides spiritual and social justice opportunities to Jewish students in the Bay Area. More on Alon Shalev at www.alonshalev.com

 

 

 

Fool Me Twice?

This was the title of an editorial in the New York Times last week. In the article, the author refers to a deal made with President Bush’s government in which the multinationals offered to bring back billions of dollars to invest in the US economy, building new plants and stimulating employment.

Congress passed the Homeland Investment Act, which allowed companies to repatriate some $300 billion in 2005 and pay only 5.25 percent in taxes (instead of 35% which is the corporate tax rate imposed on overseas profits when they are brought into the country). The multinationals got their tax breaks: the stimulus failed to happen. Almost all of that money found its way to the shareholders.

Now, according to an op-ed in the Wall Street Journal, the chief executive of Cisco, John Chambers, and the president of Oracle, Safra Catz, suggested that American multinational corporations have about $1 trillion stashed abroad and that this money could be brought back for the general good if taxes were again lowered to 5%.

The audacity of big business astonishes me – and I wrote a book about their behavior. I should read it again. That they were able to get away with this in ’05 is hard enough to stomach. But that they feel they can do it again is … well you can slot in the appropriate word.

Many multinationals have large amounts of cash stored in the US should they ever really consider investing into the economy. They do not need to bring money in from abroad. In fact, perhaps tax breaks should be awarded to such companies to bring money into the US after they have invested into the economy, and perhaps there should be a logical link between each sum of money.

It seems that the Obama administration does remember how the government was fooled and is not showing any interest. Fair game, but I can’t help wondering where these multinationals get the chutzpah to even make the suggestion. ——————————————————————————————————-

Alon Shalev is the author of The Accidental Activist (now available on Kindle) and A Gardener’s Tale. He is the Executive Director of the San Francisco Hillel Foundation, a non-profit that provides spiritual and social justice opportunities to Jewish students in the Bay Area. More on Alon Shalev at www.alonshalev.com

 

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