Monday, April 25, 2022

RSN: Bernie Sanders | Jeff Bezos Is Worth $160 Billion - Yet Congress Might Bail Out His Space Company

 

Reader Supported News
24 April 22

Live on the homepage now!
Reader Supported News

WITHOUT FUNDING THERE WON’T BE AN RSN FOR YOU TO COME TO — Funding is not optional. We are — required — to have a basic budget, like it or not. We would love to reduce fundraising. Reasonable donations will absolutely allow us to do that. Right now reasonable donations are lacking. With urgency.
Marc Ash • Founder, Reader Supported News

Sure, I'll make a donation!

 

Sen. Bernie Sanders, I-Vermont, greets supporters before speaking at a town hall event in Springfield on Saturday, September 4, 2021. (photo: Glenn Russell/VT Digger)
Bernie Sanders | Jeff Bezos Is Worth $160 Billion - Yet Congress Might Bail Out His Space Company
Bernie Sanders, Guardian UK
Sanders writes: "Fifty-three years later, as a result of a huge effort to privatize space exploration, I am concerned that Nasa has become little more than an ATM machine to fuel a space race not between the US and other countries, but between the two wealthiest men in America - Elon Musk and Jeff Bezos, who are worth more than $450 billion combined."

If we are going to send more humans to the Moon and eventually to Mars, will the goal be to benefit the people of the US and the world, or to make billionaires even richer?

On 20 July 1969, 650 million people throughout the world watched with bated breath as Neil Armstrong successfully fulfilled President Kennedy’s vision. The United States achieved what had seemed impossible just a few decades before. We had sent a man to the moon.

On that historic day, the entire world came together to celebrate the enormous accomplishment as Armstrong’s voice boomed from our television sets: “That’s one small step for man, one giant leap for mankind.”

In just eight short years the US, led by our extraordinary scientists, engineers and astronauts at Nasa, had opened up a new world for humanity. And while the entire world rejoiced, there was a special joy and pride in our country because this was an American project. It was our financing, our political will, our scientific ingenuity, our courage that had accomplished this milestone in human history. We had not only “won” the international space race, but more importantly, we had created unthinkable opportunities for all of humankind.

Fifty-three years later, as a result of a huge effort to privatize space exploration, I am concerned that Nasa has become little more than an ATM machine to fuel a space race not between the US and other countries, but between the two wealthiest men in America – Elon Musk and Jeff Bezos, who are worth more than $450bn combined.

After many billions of dollars of taxpayer funding the American people are going to have to make a very fundamental decision. If we are going to send more human beings to the moon and eventually to Mars, who will control the enterprise and what will be the purpose of that exploration? Will the goal be to benefit the people of the United States and the entire world, or will it be a vast boondoggle to make billionaires even richer and open up outer space to corporate greed and exploitation?

At this moment, if you can believe it, Congress is considering legislation to provide a $10bn bailout to Jeff Bezos’s Blue Origin space company for a contract to build a lunar lander. This legislation is taking place after Blue Origin lost a competitive bid to SpaceX, Musk’s company.

Bezos is worth some $180bn. In a given year, he has paid nothing in federal income taxes. He is the owner of Amazon, which, in a given year, has also paid nothing in federal income taxes after making billions in profits. Bezos has enough money to own a $500m mega-yacht, a $23m mansion in Washington DC, a $175m estate in Beverly Hills and a $78m, 14-acre estate in Maui.

At a time when over half of the people in this country live paycheck to paycheck, when more than 70 million are uninsured or underinsured and when some 600,000 Americans are homeless, should we really be providing a multibillion-dollar taxpayer bailout for Bezos to fuel his space hobby? I don’t think so.

Let’s be clear, however. This issue goes well beyond just one contract for Bezos to go to the moon.

The reality is that the space economy – which today mostly consists of private companies utilizing Nasa facilities and technology essentially free of charge to launch satellites into orbit – is already very profitable and has the potential to become exponentially more profitable in the future. Bank of America predicts that over the next eight years the space economy will triple in size to $1.4tn – that’s trillion with a “t”.

In 2018, private corporations made over $94bn in profits from goods or services that are used in space – profits that could not have been achieved without generous subsidies and support from Nasa and the taxpayers of America. The satellite business is growing rapidly. SpaceX alone plans to launch tens of thousands of its Starlink telecommunications satellites over the next few years.

In addition to the launching of new satellites, corporations like SpaceX will be making substantial sums from the “space tourism” business. Recently, three extremely wealthy individuals paid $55m each in order to visit the International Space Station. The good news is that if you are a billionaire tired of vacationing in the Caribbean, there are some exciting travel opportunities for you. The bad news is that American taxpayers are subsidizing some of that trip.

And while it may seem like a bad science fiction movie today, decades from now the real money to be made will not come from satellites or space tourism but to those who discover how to mine lucrative minerals on asteroids.

In fact, both Goldman Sachs and the noted astrophysicist Neil deGrasse Tyson have predicted that the world’s first trillionaire will be the person who figures out how to harness and exploit natural resources on asteroids.

Nasa has identified over 12,000 asteroids within 45m kilometers of Earth that contain iron ore, nickel, precious metals and other minerals. Just a single 3,000ft asteroid may contain platinum worth over $5tn. Another asteroid’s rare earth metals could be worth more than $20tn alone. According to the Silicon Valley entrepreneur Peter Diamandis, “There are twenty-trillion-dollar checks up there, waiting to be cashed!”

The questions we must ask are: who will be cashing those checks? Who will, overall, be benefiting from space exploration? Will it be a handful of billionaires or will it be the people of our country and all of humanity?

As it stands now, as a result of the 2015 Space Act that passed the Senate with virtually no floor debate, private corporations are able to own all of the resources that they discover in space. In other words, the taxpayers of this country who made it possible for these private enterprises to go into space will get a 0% return on their investment.

The time is now to have a serious debate in Congress and throughout our country as to how to develop a rational space policy that does not simply socialize all of the risks and privatize all of the profits. Whether it is expanding affordable high-speed internet and cellphone service in remote areas, tracking natural disasters and climate change, establishing colonies on the moon and Mars or mining asteroids, the scientific achievements we make should be shared by all of us, not just the wealthy few.

Space exploration is very exciting. Its potential to improve life here on planet Earth is limitless. But it also has the potential to make the richest people in the world incredibly richer and unimaginably more powerful. When we take that next giant leap into space let us do it to benefit all of humanity, not to turn a handful of billionaires into trillionaires.


READ MORE


Elizabeth Warren Tears Into Kevin McCarthy, Calls Him a 'Liar and a Traitor'Elizabeth Warren told CNN: 'We've got less than 200 days until the election and American families are hurting.' (photo: Reuters)

Elizabeth Warren Tears Into Kevin McCarthy, Calls Him a 'Liar and a Traitor'
Justin Baragona, The Daily Beast
Baragona writes: "Sen. Elizabeth Warren (D-MA) tore into House Minority Leader Kevin McCarthy on Sunday morning, calling the California congressman a 'liar' and 'traitor' over revelations that he privately told House Republicans that then-President Donald Trump was to blame for the Jan. 6 Capitol insurrection and would recommend that he resign."
READ MORE


Matrix of War: Russian Elites Unlikely to Split From Putin Despite War Losses and Western SanctionsRussian president Vladimir Putin marks the eighth anniversary of Russia's annexation of Crimea, in Moscow, on March 18. (photo: Mikhail Klimentyev/Sputnik/AFP/Getty Images)

Matrix of War: Russian Elites Unlikely to Split From Putin Despite War Losses and Western Sanctions
Democracy Now!
Excerpt: "Russians are weathering the fallout of President Vladimir Putin's invasion of Ukraine with no sign of a negotiated peace deal soon.
READ MORE



Michael Lewis on Why Americans Don't Trust ExpertsMichael Lewis is the best-selling author of 'The Blind Side,' 'Moneyball,' and 'The Big Short.' His new book is 'The Undoing Project: A Friendship That Changed Our Minds.' (photo: Robin Lubbock/WBUR)

Michael Lewis on Why Americans Don't Trust Experts
Sean Illing, Vox
Illing writes: "From the forever wars to the 2008 financial crisis to the botched pandemic response, it seems Americans are constantly careening from one avoidable catastrophe to another."
READ MORE



Abortion Advocates' Strategy Depends on Pills. An Information Gap Threatens Their Efforts.(L-R) Lila Bonow, Alana Edmondson and Aiyana Knauer prepare to take abortion pills while demonstrating in front of the U.S. Supreme Court as the justices hear arguments in a case about a Mississippi law that bans most abortions after 15 weeks, on Dec. 1, 2021. (photo: Chip Somodevilla/Getty Images)

Abortion Advocates' Strategy Depends on Pills. An Information Gap Threatens Their Efforts.
Alice Miranda Ollstein and Megan Messerly, POLITICO
Excerpt: "Mail-order abortion pills could help millions of people discretely terminate their pregnancies should the Supreme Court strike down Roe v. Wade in the coming months, providing a way to circumvent mounting state-imposed restrictions."
READ MORE


Watch: Israeli Special Forces Target Journalists During Mosque Compound RaidHundreds of Palestinians have been detained at Al-Aqsa Mosque in the past few days (photo: Ahmad Gharabli/AFP)

Watch: Israeli Special Forces Target Journalists During Mosque Compound Raid
Hind Hassan and Greg Walters, VICE
Excerpt: "It's the second time the Al-Aqsa Mosque was raided by police during this year's Ramadan holiday."

It’s the second time the Al-Aqsa Mosque was raided by police during this year’s Ramadan holiday.


Dozens of Palestinians were injured after Israeli special forces stormed the grounds of the Al-Aqsa Mosque compound on Friday, after days of confrontations between Palestinian protesters and Israeli police.

Video captured by VICE World News shows Israeli special forces storming the grounds of the mosque in Jerusalem and firing rubber bullets and sound grenades at a group of journalists, injuring at least two Palestinians.

Earlier in the morning, some Palestinians threw stones in the direction of Israeli forces. Protesters were angered by previous days’ events, when ultra-far-right Israeli nationalists were escorted onto the grounds of the mosque—one of the holiest sites for Muslims in the world—during the Islamic month of Ramadan.

The event marked the latest of several incursions in the past week by Israeli police into the grounds of the Al-Aqsa mosque, which is known to Jews as Temple Mount and is sacred in both Islam and Judaism. Hundreds of Palestinians were wounded and detained.

At least 31 Palestinians have been injured in today’s confrontation in Jerusalem. According to the Palestinian Red Crescent ambulance service, 14 Palestinians were taken to the hospital, two with serious injuries.

Israeli police said that one police officer had been injured after being hit by a stone.

VICE World News also witnessed Palestinians, including women and children, being tear-gassed when an Israeli drone dropped multiple canisters from the air.

These drones were first used by Israel against Palestinians in Gaza in 2018 but have since been authorized for wider use in the West Bank and Jerusalem. This is the first time a drone has been used to drop tear gas on crowds in the Al-Aqsa grounds.

READ MORE


The World's Dams: Doing Major Harm but a Manageable Problem?Species that prefer habitat close to water, such as zebra and wildebeest, benefited from the ample supply of water provided by dams and other constructed water sources in Kruger National Park. (photo: Petro Kotzé/Mongabay)

The World's Dams: Doing Major Harm but a Manageable Problem?
Petro Kotzé, Mongabay
Kotzé writes: "Stephen Midzi, the biodiversity conservation manager of South Africa's iconic Kruger National Park, wants you to know that he's not an 'anti-dam person.'"
READ MORE

Special Coverage: Ukraine, A Historic Resistance
READ MORE

 

Contribute to RSN

Follow us on facebook and twitter!

Update My Monthly Donation

PO Box 2043 / Citrus Heights, CA 95611







No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Sean Penn GOES VIRAL Responding To Hunter Biden Pardon

  A young Joe Biden lost his wife & family in a tragic accident & made his commitment to be home every evening to care for his sons....