Nick Hanauer, a very successful venture capitalist, has a must read OpEd in Bloomberg News. In it he explains the very fundamentals of economics: I can’t buy enough of anything to make up for the fact that millions of unemployed and underemployed Americans can’t buy any new clothes or enjoy any meals out. Or to […]
A new report by the Congressional Budgeting Office finds the following: CBO finds that, between 1979 and 2007, income grew by: 275 percent for the top 1 percent of households, 65 percent for the next 19 percent, Just under 40 percent for the next 60 percent, and 18 percent for the bottom 20 percent. Actually […]
The other day I covered how the 53%ers are apparently against the very policies they have advocated for years. The 47% of people not paying federal income tax do so in a large part because of the Bush tax cuts and we know the right has been a long time advocate of those tax cuts. […]
I have been tied up the last several days helping my sister get her new house ready so I am a little behind the news. Today I find out the wingnuts have decided to launch their own response to Occupy Wall Street, a movement called the 53%. These are Republicans against the 47% of Americans […]
The AP has put out a fact check of President Obama’s claim last night that everything in his jobs program is paid for: resident Barack Obama’s promise Thursday that everything in his jobs plan will be paid for rests on highly iffy propositions. It will only be paid for if a committee he can’t control […]
Yes the headline is harsh, but so are the actions of the GOP. Tonight President Obama is to ask for an extension of the payroll tax cuts and even increase them. Hasn’t the right been telling us that tax cuts are what keeps the economy rolling? Well apparently not now: Congressional Republicans over the past […]
While corporations are sitting on records amount of cash and still refusing to hire we have the reality absent GOP pushing for more tax cuts for these people. They consider to insist that their almost 30 year old failed experiment in economics is the way to go, that some how corporations will create supply without […]
With the deal announced to raise the debt ceiling and instill trillions in cuts during a recession, it is time to declare the that the right owns the economy. So just how bad is this deal? Here’s Paul Krugman’s take: For the deal itself, given the available information, is a disaster, and not just for […]
Last week the Republican’s in the House voted to save the billions a year in tax subsidies to the oil industry, yet providing assistance to the low-income for their heating bills is on the chopping block. This week the House AG committee decided to keep the farm subsidies, which total close to $20 billion a […]
Again – mixed messages! The White House is sharply denying the Huffington Post story I noted below claiming that David Axelrod signaled a willingness to accept a temporary extension of all the Bush tax cuts, claiming that their position remains unchanged. Axelrod emails: There is not one bit of news here. I simply re-stated what […]