Category Archives: Politics

Happy 100th Birthday, Income Tax!

You know, I really wouldn’t mind paying taxes if they were used for education, infrastructure build, increased social programs and hiring more government works to do things like process VA claims applications….

I think it’s my civic duty.  It’s a close to tithing as I get….

I just hate that my tax dollars go to ridiculous and/or immoral things like unnecessary wars, oil company subsidies and Mitch McConnell’s salary….

From Daily Finance:

 

On Sunday, the Sixteenth Amendment, the one that laid the groundwork for a permanent federal income tax, celebrated its 100th birthday. Needless to say, not everybody was lining up to celebrate. In Forbes, wealth manager David Marotta used the anniversary as an opportunity to exhort readers to “Let the Income Tax Die at 100.” Meanwhile, over at The Global Dispatch, Robert Harriman paired anti-tax quotes from a trio of Founding Fathers with a pro-tax quote from Karl Marx.

Even the biggest fans of the income tax system are generally quick to admit that they don’t really like paying taxes, and some of its most furious foes have gone so far as to claim that the Sixteenth Amendment was never actually ratified. But whether you think federal income taxes are an unconstitutional power grab or, as Ray Raphael argued in Article 3, a natural progression from the property-based tax system that existed almost since the country’s founding, one thing is certain: If it weren’t for the federal tax system, America would never have been able to reach its current position in the world.

The interstate highway system that was key to America’s postwar dominance? Fully 90 percent of it was funded by federal income taxes. The space exploration program that put the American flag on the moon? That money came from income taxes, too. The same goes for the standing army, the EPA, the Food and Drug Administration, and hundreds of other programs, large and small, that help keep Americans healthy, educated, and protected. And, as we’ve seen recently, reduced tax revenue makes it much harder to keep those programs operating.

As for all those entitlement programs that have gotten so much criticism in recent years, they’re paid for through taxes as well. And, lest we wonder how Medicare and unemployment, WIC and student loan programs help keep America strong and safe, it’s worth remembering that a healthy, well-educated work force is the key to keeping — and, hopefully, strengthening — America’s place in the world.

via Happy 100th Birthday, Income Tax! – DailyFinance.

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Deconstructing Deficit Hawks

I do love it when a Nobel Prize-winning Economist says the same things I do….

Or rather, when my thoughts I align with his….

Since I only took 2 semesters of Econ at Washington and Lee, I can hardly claim to be an expert….

Except in common sense….

Please take the time to read Paul Krugman’s article in the New York Times.

Here is a brief excerpt and a link to the full article:

So what do we learn from the rather pathetic search for austerity success stories? We learn that the doctrine that has dominated elite economic discourse for the past three years is wrong on all fronts. Not only have we been ruled by fear of nonexistent threats, we’ve been promised rewards that haven’t arrived and never will. It’s time to put the deficit obsession aside and get back to dealing with the real problem — namely, unacceptably high unemployment.

via Looking for Mr. Goodpain – NYTimes.com.

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Beer Merger Challenged By Justice Department

I’m so relieved to know our Justice Department has it’s priorities in order…

I’m sure they don’t have anything more pressing than this to consider…

Of course, this does impact a large portion of the population that has to drink to deal with the fact that we have a bunch of incompetents (AKA:  The GOP) in Washington focusing on irrelevant issues instead of addressing the most pressing needs of the country.

Forget the Tea Party, let’s start the Beer Party!

 

WASHINGTON — The Justice Department on Thursday filed a lawsuit to stop Anheuser-Busch InBev’s proposed $20.1 billion purchase of Mexican brewer Grupo Modelo, which would unite the ownership of popular beers like Budweiser and Corona.

The government said the deal could lead to higher beer prices in this country because it would substantially reduce competition in the U.S. beer market, particularly in 26 metropolitan areas. It said the merged firm would control nearly half the beer sales in the U.S.

In response, Anheuser-Busch InBev promised a court fight to preserve its deal.

Americans spent at least $80 billion on beer last year. ABI’s Bud Light is the best-selling beer in the nation and Modelo’s Corona Extra is the best-selling import.

via Anheuser-Busch-Grupo Modelo Merger Challenged By Justice Department.

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Five Problems Bigger Than the National Debt

I am so tired of hearing politicians talk about the “DEFICIT” like it was the biggest threat to America since communism or some other previous excuse not to deal with real problems…

This is an entirely manufactured “crisis” and the “Conservatives” are trying to use it to kill programs they have always hated  anyway- like Social Security, Medicare, Medicaid and VA Benefits.  They are also using it as an excuse to cut federal jobs.

For example, I called the Veteran’s Administration 12 times today trying to check direct depositing my Mother’s benefits from my Father’s service.  I wasn’t allowed to do it on the web because it is a Custodial situation.  Each time I got a message telling me they could not take my call because of high call volumes and to call back later.  It took 2 years to get the benefit application approved due to “staffing” issues- and then only with Congressional help…..Hire some people, goddammit!

This is madness….

Anyway….

I’ve had my say on this many times.  We do not have any deficit problem that can’t be solved by higher employment, growth and investment in much-needed infrastructure projects.  The GOP and their Democratic enablers are only making the situation worse by not addressing these core issues responsibly and intelligently.

Someone needs to break the DC bubble and it sounds like maybe, just maybe, there may be some sensibility leaking into the Capitol.

But they still have a long ways to go and need to start by not listening to the Tea Party fools and their Billionaire sponsors or the Corporate chieftains.  Of course ending corporate welfare, such as subsidies to the oil companies, and making the wealthy pay their fair share by closing tax loopholes would also help…

I’ll keep hoping they will hear Paul Krugman’s voice calling from the wilderness.  Meaning outside of DC and it’s suburbs…

From Yahoo Finance:

With even top Republicans such as Eric Cantor beginning to question the political wisdom of waging perpetual warfare over the deficit, it’s possible that Washington may slowly turn its attention to other, more pressing matters.What could be more urgent than deficit reduction? you may ask.My answer: Almost everything.If deficit reduction was ever urgent, it no longer is. We’ve already accomplished most of the deficit-reduction required in this decade, nearly enough to stabilize our debt, but at a great cost to current economic growth. We’ve sacrificed with high unemployment, tepid growth and underinvestment in public goods.Not to mention our inability to get anything else done while we bicker about deficits.The $16 trillion debt sounds like a terrible thing, but no one has been able to show how this high level of debt has had any negative impact on the economy or on the people so far. Has anyone come around looking for your share of it?Interest rates are very low, so the public debt isn’t crowding out private investment. The burden from interest payments is extremely low, less than half what it was when Ronald Reagan was exploding the federal budget back in the 1980s. We survived.

MORE:   Five problems bigger than the national debt – Yahoo! Finance.

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Fox News Ratings Hit 12-Year Demo Lows In January Cable News Figures

Some interesting information from the Huffington Post…..

I’m interested to see how/if this trend continues….

Keep in mind, Fox News has the same problem as the GOP: Only old white people pay them any attention and that demographic is dying out.  Younger people don’t watch much TV news anyway, but they certainly aren’t watching Fox.

And cheers to Rachel Maddow and the gang at MSNBC….

And, does anyone watch CNN anymore?  I can remember when they did real news and I watched it almost all the time.  Now I can’t take five minutes of their blathering.  Well, except for Anderson Cooper and even his show is not exactly a master class in journalism anymore….

Here is an excerpt from the Huff Post article and a link to the full story:

 

At the end of each month, cable news ratings are released to the public. And, like clockwork, Fox News dominates the top 13 or so programs, far outstripping its competitors.

January was … a little different. To be sure, everything is relative in cable news: Fox News still had nine out of the top ten programs. It has spent 11 consecutive years as the top-rated cable news channel. Its 6 AM show drew almost double the ratings of CNN’s top-ranking prime time show.

But, as rival MSNBC was quick to point out, and BuzzFeed was quick to trumpet, Fox News had its worst primetime ratings in the coveted 25-54 demo since August 2001, and its lowest total day ratings since June 2008.

To a seasoned watcher of cable news ratings, there were other surprises. Rachel Maddow, for instance, came in 10th, beating “Studio B” and the 11 PM repeat of “The O’Reilly Factor.” In January 2012, she came in 14th. It may not seem like much, but the top of the cable news field has been extremely stable — and if Maddow were to continue creeping up the list, it would mean a real sea change. Overall, MSNBC — perhaps powered by liberal euphoria over President Obama’s inauguration — was the only cable news channel to grow its ratings from 2012.

This continues a pattern that emerged in 2012: Fox News viewers tuned out en masse from Democratic-themed events, causing the network’s ratings to plunge during the Democratic National Convention, the hours immediately following Obama’s re-election, and the president’s inauguration. MSNBC, meanwhile, benefited from the solidification of its Democratic-friendly lineup, and drew a lion’s share of eager liberal viewers.

via Fox News Ratings Hit 12-Year Demo Lows In January Cable News Figures.

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Why Republicans Can’t Propose Spending Cuts

This article, in New York Magazine, is the best explanation I’ve seen yet for why the Republican’s can’t really offer serious ideas for spending cuts:  There really aren’t many options.

As usual, the GOP has based their case on illusions, untruths and sound bite cliches….

I’m a firm believer that the government actually needs to spend more on infrastructure and social programs.  The cuts should come from closing down George Bush’s wars of choice, unnecessary defense spending- that even the Pentagon says is unnecessary- and better management.

And, yes, raise the taxes on the rich and close loop holes that the rich and corporations use to avoid paying their fair share.  End subsidies to big oil and  corporate agribusiness.

The big opportunities are on the revenue side and with ending corporate welfare…..

From NY Magazine:

Republicans think government spending is huge, but they can’t really identify ways they want to solve that problem, because government spending is not really huge. That is to say, on top of an ideological gulf between the two parties, we have an epistemological gulf. The Republican understanding of government spending is based on hazy, abstract notions that don’t match reality and can’t be translated into a workable program.

Let’s unpack this a bit. We all know Republicans want to spend less money. So the  construction of the debate appears, on the surface, to be a pretty simple continuum based on policy preferences. Republicans like Mitch McConnell say government spending is “out of control” and would, at least ideally, like to bring it into line with revenue entirely through spending cuts. Democrats like Obama endorse a “balanced” solution with revenue and taxes. Right-thinking centrists, like the CEO community and their publicists like Mike Allen and Jim VandeHei, think we should cut deeply into entitlement spending while also raising tax revenue. (VandeHei, in a video accompanying his execrable story, asserts, “There’s money to be cut everywhere.”)

There really isn’t money to be cut everywhere. The United States spends way less money on social services than do other advanced countries, and even that low figure is inflated by our sky-high health-care prices. The retirement benefits to programs like Social Security are quite meager. Public infrastructure is grossly underfunded.

via Why Republicans Can’t Propose Spending Cuts — Daily Intelligencer.

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100 Bangladeshi Garment Workers Died In Factory Fire After Walmart Refused To Finance Fire Safety Improvements

I’ll freely admit I have not been in a Walmart in more than a dozen years.

I can’t go there for many reasons-all related to political, economic, social justice and esthetic concerns.

I just wish people would realize that someone is paying the price for all the cheap junk they sell at that place.

Our communities pay the price as we lose local businesses Walmart runs out of business.  We, as a society, pay the price by focusing on quantity and not quality.  But most importantly, workers pay the price- at Walmart stores and most severely at the factories that supply them.

These working conditions would not be allowed in the U.S. for good reason.  We, hopefully, learned our lesson early in the 20th Century with the tragic Triangle Shirtwaist Fire….

Someday, hopefully, Walmart will be held accountable and have to pay for this themselves….

From ThinkProgress.com:

More than 100 workers died in a garment factory fire on November 24 in Bangladesh. The Dhaka plant, which was making products for Walmart and Sears, had no emergency exits or emergency evacuation procedures.

But in a meeting last year, Walmart officials decided against agreeing to pay suppliers more so that they could upgrade their manufacturing facilities and pay for the costs of safety improvements. “Specifically to the issue of any corrections on electrical and fire safety, we are talking about 4,500 factories, and in most cases very extensive and costly modifications would need to be undertaken to some factories,” Walmart officials said in documents obtained by Bloomberg News. “It is not financially feasible for the brands to make such investments.”

More than 300 Bangladeshi garment factory workers have died since 2006. Walmart reported a 9 percent increase in third-quarter net income, earning $3.63 billion.

via 100 Bangladeshi Garment Workers Died In Factory Fire After Walmart Refused To Finance Fire Safety Improvements | ThinkProgress.

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Hostess Employees Get 8% Pay Cut, Management Gets $1.8m Bonuses

I don’t know why I continue to be amazed at stories like this…..

Corporate America is really big on “accountability” and “results driven performance.”

At the worker’s and Middle Management level….

Personally, I think these “bonuses” and Golden Parachutes for failed upper Management ought to be taxed at round the 99% rate if the Company is in Bankruptcy.  If the Company shows a profit, then regular tax rates should apply.  That would drive true accountability and performance based rewards at all levels….

I know, impossible to enforce, but I can dream of wage equality, can’t I?

As I said earlier, it’s really hard to fail making junk food for Americans…..

From AmericaBlog.com:

You remember Hostess.  Home of the Twinkie.  Gone bankrupt and closing down after the previous CEO tripled his salary, knowing full well they were on their way to the poor house.

Well here we go again, Lucy.

While it’s worth noting that current Hostess acting CEO Gregory Rayburn, to his credit, is not accepting a bonus, you have to ask yourself why anyone would be getting a bonus in the first place, with the company in bankruptcy.

Well.  It seems that at the same time the company went into bankruptcy, and now is cutting employees’ pay by 8%, just in time for Christmas, the management team finagled itself a whopping $1.8m bonus.  ”The money is intended as an incentive for 19 top-level managers to remain with the Twinkies and Ding Dongs maker to oversee its liquidation,” the LA Times reports. Right, because you wouldn’t want to lose any of the winners that oversaw a company going into bankruptcy.

via Hostess employees get 8% pay cut, management gets $1.8m bonuses.

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Hillary Clinton Hits Record Favorability, Poll Shows Wide Support For 2016 Candidacy

Run, Hillary, Run!

This would be so very wonderful…..

And I’m glad to see she is finally get the respect and appreciation she deserves….

From the HuffingtonPost.com:

A decision by Hillary Clinton to run for president in 2016 would be welcomed by most Americans, according to a Washington Post/ABC poll released Wednesday.

As she prepares to step down as secretary of state, Clinton has a lifetime high favorability rating of 66 percent, according to the Post/ABC poll, with less than a third of respondents holding unfavorable views. Two-thirds of Americans approve of her job performance in the Obama administration.

That goodwill translates into broad support for Clinton to make a second run at the presidency in four years, with 57 percent supporting her candidacy.

The demographics of her support provide a sense of what could be a key constituency for a Clinton campaign: women, especially those who are younger or middle-aged. Two-thirds of women, including 75 percent of those under age 50, say they would like to see her run. Among men, her candidacy is supported by a narrower 49 percent

via Hillary Clinton Hits Record Favorability, Poll Shows Wide Support For 2016 Candidacy.

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Hostess wins OK to give execs up to $1.75 million in bonuses

This is a real example of what is totally wrong with the Corporate Culture and Corporate accountability in America….

These guys destroyed a profitable, iconic American Company.

Even though it makes nasty, bad-for-you treats full of preservatives and strange chemical things…

But that’s what America seems to want.  It’s really hard to fail at this….

And they failed.  And are going bankrupt.  Bad management is the only excuse…

And they are getting bonuses for this?  Talk about Bain Capital as a business model….

I guarantee the hourly workers aren’t getting any bonuses for making the product;  only those whose “leadership”  destroyed the company….

From the L. A Times:

 

Hostess Brands Inc., in the midst of winding down its business, won approval Thursday from a federal bankruptcy judge to give as much as $1.75 million in bonuses to its executives.

The money is intended as an incentive for 19 top-level managers to remain with the Twinkies and Ding Dongs maker to oversee its liquidation.

The payouts will be granted only if managers “achieve a set of specific tasks and goals within a specified time frame that are designed to speed and lower the cost of the wind-down,” Hostess spokesman Lance Ignon said.

The maximum bonus amount, Ignon said, represents 0.07% of Hostess’ revenue and 0.17% of the value of its assets and is below the average for bonuses in comparable bankruptcy cases. Hostess Chief Executive Greg Rayburn would be not be eligible for a bonus, Ignon said.

via Hostess wins OK to give execs up to $1.75 million in bonuses – latimes.com.

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