Friday, August 31, 2012
CHART: Republican Presidents’ Depressing Record On Wage Growth
CHART: Republican Presidents’ Depressing Record On Wage Growth: Wage growth has failed to keep up with record-setting corporate profits, and wages as a percent of gross domestic product reached an all-time low after the Great Recession, as BusinessInsider’s Henry Blodget noted today. Wages as a percentage of the economy have fallen precipitously since their peak in the 1960s, when the minimum wage reached [...]/p
Never Mind Super PACs: How Big Business Is Buying the Election | The Nation
Never Mind Super PACs: How Big Business Is Buying the Election | The Nation
"US law still bans foreign corporations from participating directly in elections. But after Citizens United, trade associations like API—whose influential members include foreign corporations—are free to spend as they wish, unburdened by disclosure requirements. And these groups have taken full advantage of their new freedoms. While other campaign committees, from labor unions to Super PACs, face strict transparency rules, trade associations enjoy unparalleled power to covertly manipulate elections using corporate money."
"US law still bans foreign corporations from participating directly in elections. But after Citizens United, trade associations like API—whose influential members include foreign corporations—are free to spend as they wish, unburdened by disclosure requirements. And these groups have taken full advantage of their new freedoms. While other campaign committees, from labor unions to Super PACs, face strict transparency rules, trade associations enjoy unparalleled power to covertly manipulate elections using corporate money."
Koch Party Time: Billionaire Brothers Show Off the Republican Politicians They Bought | Alternet
Koch Party Time: Billionaire Brothers Show Off the Republican Politicians They Bought | Alternet
"Since 2010, when Tea Partiers swept the House of Representatives and state houses across the nation, Koch has been on a roll, moving the G.O.P. in line with his hard-core anti-regulatory, anti-labor, anti-health-care reform, anti-safety net, anti-environmental agenda -- thanks to a relentless effort to build a get-out-the-vote infrastructure and a torrent of backlash against the nation's first African American president."
"Since 2010, when Tea Partiers swept the House of Representatives and state houses across the nation, Koch has been on a roll, moving the G.O.P. in line with his hard-core anti-regulatory, anti-labor, anti-health-care reform, anti-safety net, anti-environmental agenda -- thanks to a relentless effort to build a get-out-the-vote infrastructure and a torrent of backlash against the nation's first African American president."
Thursday, August 30, 2012
The Real GOP Convention Is on the Cracker Bay | Common Dreams
The Real GOP Convention Is on the Cracker Bay | Common Dreams
"It's clear what Mitt Romney owes these people. What do you think he owes you? Ann Romney said that Mitt was a man who would not fail. She's right; he will not fail his donors. He is a good businessman, so he will give them the service they paid for.
"It's clear what Mitt Romney owes these people. What do you think he owes you? Ann Romney said that Mitt was a man who would not fail. She's right; he will not fail his donors. He is a good businessman, so he will give them the service they paid for.
They're so brazen the boat they were meeting on was flying a Cayman Islands flag. As one local put it, even their yacht doesn't want to pay taxes. In the old days, you'd be a little embarrassed about things like this and it would be huge news if you got caught. Now people treat it like it's perfectly normal."
Crazy Country: 6 Reasons America Spends More on Prisons Than On Higher Education | Alternet
Crazy Country: 6 Reasons America Spends More on Prisons Than On Higher Education | Alternet
"Dollars doing to prisons will soon outpace dollars going to higher education in every state of the union."
"Dollars doing to prisons will soon outpace dollars going to higher education in every state of the union."
7 Facts About Mitt Romney’s Economic Plan He Doesn’t Want You To Know
7 Facts About Mitt Romney’s Economic Plan He Doesn’t Want You To Know: 2) It raises taxes on the middle class. A Tax Policy Center analysis found that Romney’s plan would raise taxes on middle class families byup to $2,000 if he were to keep his promise to maintain the current level of revenue. A later analysis that added in the cost of Romney’s corporate tax cuts nearly doubled the size of the tax hike on the middle class to as much as $4,000 for a family of four.
U.S. is the Worst Police State in the World – By the Numbers : Information Clearing House: ICH
U.S. is the Worst Police State in the World – By the Numbers : Information Clearing House: ICH
"When U.S. corporate media operatives use the term “police state,” they invariably mean some other country. Even the so-called “liberal” media, from Democracy Now to the MSNBC menagerie, cannot bring themselves to say “police state” and the “United States” without putting the qualifying words “like” or “becoming” in the middle. The U.S. is behaving “like” a police state, they say, or the U.S. is in danger of “becoming” a police state. But it is never a police state. Since these privileged speakers and writers are not themselves in prison – because what they write and say represents no actual danger to the state – they conclude that a U.S. police state does not, at this time, exist.
"When U.S. corporate media operatives use the term “police state,” they invariably mean some other country. Even the so-called “liberal” media, from Democracy Now to the MSNBC menagerie, cannot bring themselves to say “police state” and the “United States” without putting the qualifying words “like” or “becoming” in the middle. The U.S. is behaving “like” a police state, they say, or the U.S. is in danger of “becoming” a police state. But it is never a police state. Since these privileged speakers and writers are not themselves in prison – because what they write and say represents no actual danger to the state – they conclude that a U.S. police state does not, at this time, exist.
Considering the sheer size and social penetration of its police and imprisonment apparatus, the United States is not only a police state, but the biggest police state in the world, by far: the police state against whose dimensions all other police systems on Earth must be measured."
Chump Change: The Rich, Especially Adselon, Are Different From Us | Common Dreams
Chump Change: The Rich, Especially Adselon, Are Different From Us | Common Dreams
"With yet another study finding that the rich lie, cheat and steal more than the rest of us, and the GOP greedily embracing Citizens United in their platform - more of those people's money! - a little perspective on the fortunes of Sheldon Adelson. The $25-billion casino mogul has already given Republicans at least $5 million to retain control of the House, and has now reportedly pledged $500,000 to one candidate."
"With yet another study finding that the rich lie, cheat and steal more than the rest of us, and the GOP greedily embracing Citizens United in their platform - more of those people's money! - a little perspective on the fortunes of Sheldon Adelson. The $25-billion casino mogul has already given Republicans at least $5 million to retain control of the House, and has now reportedly pledged $500,000 to one candidate."
Money in Politics: Where Is the Outrage? | Common Dreams
Money in Politics: Where Is the Outrage? | Common Dreams
"Their appetite for more is insatiable. As we write, Mitt Romney, after two fundraisers in which he raised nearly $10 million from the oil and gas industry, and having duly consulted with the Oklahoma billionaire energy executive who chairs the campaign’s energy advisory committee, has announced that if elected President, he will end a century of federal control over oil and gas drilling on public lands, leaving such matters to local officials more attuned to industry desires. Theodore Roosevelt, the first great advocate for public lands in the White House, would be rolling in his grave, if Dick Cheney hadn’t already dumped his bones in a Wyoming mining shaft during the first hours of the Bush-Halliburton administration.
"Their appetite for more is insatiable. As we write, Mitt Romney, after two fundraisers in which he raised nearly $10 million from the oil and gas industry, and having duly consulted with the Oklahoma billionaire energy executive who chairs the campaign’s energy advisory committee, has announced that if elected President, he will end a century of federal control over oil and gas drilling on public lands, leaving such matters to local officials more attuned to industry desires. Theodore Roosevelt, the first great advocate for public lands in the White House, would be rolling in his grave, if Dick Cheney hadn’t already dumped his bones in a Wyoming mining shaft during the first hours of the Bush-Halliburton administration.
We are nearing the culmination of a cunning and fanatical drive to dismantle the political institutions, the legal and statutory canons, and the intellectual and cultural frameworks that were slowly and painstakingly built over decades to protect everyday citizens from the excesses of private power. The “city on the hill” has become a fortress of privilege, guarded by a hired political class and safely separated from the economic pressures that are upending the household stability, family dynamics, social mobility, and civic life of everyday Americans."
Are you a journalist? Politico leads the crop of post-Ryan reporting failures
Are you a journalist? Politico leads the crop of post-Ryan reporting failures
"At this point, thanks to various individuals who have had the meager audacity to know what Paul Ryan was going on about at the time he was going on about it, we have a fairly good list of the biggest lies uttered in Paul Ryan's speech. Among the biggest is Ryan's attack on $700 billion in Medicare savings under Obama, an attack rather effectively neutered once anyone with half a brain in their heads remembers that Paul Ryan quite specifically has always supported and included those same cuts in his own budget proposals, and so Paul Ryan talking about "saving" Medicare from the very cuts he himself has been endorsing is a Damn Curious Thing at best. Bigger still is Ryan's casual assertion that Obama damaged the credit rating of the United States, which is also a Damn Curious Thing when you consider the rating agency involved specifically called out Paul Ryan's personal band of Congressional anarchists and privateers as the seminal reason for downgrading that credit. Then there is the GM plant that announced its closing during the summer of 2008, before Obama had even gained the small pleasure of trouncing the now perpetually crabby John McCain in state after state after state, much less before he was in any position to do anything about a plant closing in Paul Ryan's neck of the woods."
"At this point, thanks to various individuals who have had the meager audacity to know what Paul Ryan was going on about at the time he was going on about it, we have a fairly good list of the biggest lies uttered in Paul Ryan's speech. Among the biggest is Ryan's attack on $700 billion in Medicare savings under Obama, an attack rather effectively neutered once anyone with half a brain in their heads remembers that Paul Ryan quite specifically has always supported and included those same cuts in his own budget proposals, and so Paul Ryan talking about "saving" Medicare from the very cuts he himself has been endorsing is a Damn Curious Thing at best. Bigger still is Ryan's casual assertion that Obama damaged the credit rating of the United States, which is also a Damn Curious Thing when you consider the rating agency involved specifically called out Paul Ryan's personal band of Congressional anarchists and privateers as the seminal reason for downgrading that credit. Then there is the GM plant that announced its closing during the summer of 2008, before Obama had even gained the small pleasure of trouncing the now perpetually crabby John McCain in state after state after state, much less before he was in any position to do anything about a plant closing in Paul Ryan's neck of the woods."
Bush Administration Praised Closure Of Auto Plant That Ryan Now Blames On Obama
Bush Administration Praised Closure Of Auto Plant That Ryan Now Blames On Obama: Rep. Paul Ryan (R-WI) claimed during his convention speech Wednesday that President Obama is responsible for the closure of a GM plant in Janesville, Wisconsin. However, as many media outlets have noted, GM announced plans to close the plant in June ’08 — long before Obama was even elected — and it ceased major operations [...]/p
6 Worst Lies In Paul Ryan’s Speech
6 Worst Lies In Paul Ryan’s Speech: His speech was riddled with false claims, so much so that even Fox News wrote, “To anyone paying the slightest bit of attention to facts, Ryan’s speech was an apparent attempt to set the world record for the greatest number of blatant lies and misrepresentations slipped into a single political speech.”
Greed and Debt: The True Story of Romney and Bain Capital | Common Dreams
Greed and Debt: The True Story of Romney and Bain Capital | Common Dreams
"By making debt the centerpiece of his campaign, Romney was making a calculated bluff of historic dimensions – placing a massive all-in bet on the rank incompetence of the American press corps. The result has been a brilliant comedy: A man
"By making debt the centerpiece of his campaign, Romney was making a calculated bluff of historic dimensions – placing a massive all-in bet on the rank incompetence of the American press corps. The result has been a brilliant comedy: A man
makes a $250 million fortune loading up companies with debt and then extracting million-dollar fees from those same companies, in exchange for the generous service of telling them who needs to be fired in order to finance the debt payments he saddled them with in the first place. That same man then runs for president riding an image of children roasting on flames of debt, choosing as his running mate perhaps the only politician in America more pompous and self-righteous on the subject of the evils of borrowed money than the candidate himself. If Romney pulls off this whopper, you'll have to tip your hat to him: No one in history has ever successfully run for president riding this big of a lie. It's almost enough to make you think he really is qualified for the White House."
Wednesday, August 29, 2012
Reintroducing the real Paul Ryan
Reintroducing the real Paul Ryan
"On Medicare: We already know that his plan would effectively end Medicare, turning it into a privatized voucher system. The vouchers given to seniors to purchase health insurance would decrease in value relative to the cost increase of health care, sicker and older people would stay in traditional Medicare, costing it more and more, and retirees would be forced to spend much more out of pocket to get less care. And yes, the cuts proposed by Ryan and Mitt Romney will hit current seniors, not just the under 55 crowd.
"On Medicare: We already know that his plan would effectively end Medicare, turning it into a privatized voucher system. The vouchers given to seniors to purchase health insurance would decrease in value relative to the cost increase of health care, sicker and older people would stay in traditional Medicare, costing it more and more, and retirees would be forced to spend much more out of pocket to get less care. And yes, the cuts proposed by Ryan and Mitt Romney will hit current seniors, not just the under 55 crowd.
- On Social Security: Ryan calls Social Security a Ponzi scheme, and he's not just a Social Security privatizer, he had a plan that was so extreme, George W. Bush, the only president who's ever tried to privatize Social Security, rejected it.
- On the War on Women: Ryan's a true warrior, as anti-choice as Todd Akin. He says that the talk of "forcible" rape didn't mean anything, it was just "stock language" and that rapeis basically just a "method of conception"."
FACT CHECK: Yes, Romney’s Tax Plan Requires A Middle-Class Tax Increase
FACT CHECK: Yes, Romney’s Tax Plan Requires A Middle-Class Tax Increase: A recent study by the nonpartisan Tax Policy Center found that Mitt Romney’s tax plan, which purports to be “revenue neutral,” would require households with incomes under $200,000 to pay higher taxes, on average, in order to [...]/p
Bank Of America Has Provided No Mortgage Principal Relief Under The Foreclosure Fraud Settlement
Bank Of America Has Provided No Mortgage Principal Relief Under The Foreclosure Fraud Settlement: The nation’s five biggest banks agreed to a $25 billion foreclosure fraud settlement back in February that required them to provide $17 billion of mortgage relief to troubled homeowners. However, one of the banks, Bank of America, is hardly holding up its end of the bargain. According to a new report, as of June 30, [...]/p
GOP Platform Suggests Billionaires Should Be Able To Give Unlimited Donations To Mitt Romney
GOP Platform Suggests Billionaires Should Be Able To Give Unlimited Donations To Mitt Romney: The Republican National Convention Tuesday adopted a party platform that embraces the highly unpopular Citizens United ruling, opposes meaningful campaign finance disclosure, and actually calls for allowing donors to give more money to politicians. In a section entitled “The First Amendment: Speech that is Protected” the platform states: The rights of citizenship do not stop [...]/p
How much money does it take to buy a seat in Congress?
How much money does it take to buy a seat in Congress? Well Shelden Adelson thinks $500,000 dollars should do the trick. Who's he throwing his latest campaign donation at - and what does this say about Democracy in America?
Unions, inequality, and faltering middle-class wages | Economic Policy Institute
Unions, inequality, and faltering middle-class wages | Economic Policy Institute
"Between 1973 and 2011, the median worker’s real hourly compensation (which includes wages and benefits) rose just 10.7 percent. Most of this growth occurred in the late 1990s wage boom, and once the boom subsided by 2002 and 2003, real wages and compensation stagnated for most workers—college graduates and high school graduates alike. This has made the last decade a “lost decade” for wage growth. The last decade has also been characterized by increased wage inequality between workers at the top and those at the middle, and by the continued divergence between overall productivity and the wages or compensation of the typical worker.
"Between 1973 and 2011, the median worker’s real hourly compensation (which includes wages and benefits) rose just 10.7 percent. Most of this growth occurred in the late 1990s wage boom, and once the boom subsided by 2002 and 2003, real wages and compensation stagnated for most workers—college graduates and high school graduates alike. This has made the last decade a “lost decade” for wage growth. The last decade has also been characterized by increased wage inequality between workers at the top and those at the middle, and by the continued divergence between overall productivity and the wages or compensation of the typical worker.
A major factor driving these trends has been the ongoing erosion of unionization and the declining bargaining power of unions, along with the weakened ability of unions to set norms or labor standards that raise the wages of comparable nonunion workers. This preview of the forthcomingThe State of Working America, 12th Edition presents a detailed analysis of the impact of unionization on wages and benefits and on wage inequality."
Declining Unionization Caused One-Third Of Increase In Wage Inequality During Last 40 Years
Declining Unionization Caused One-Third Of Increase In Wage Inequality During Last 40 Years: Nearly one-third of the increase in wage inequality among men over the last four decades is attributable to the declining unionization of the American workforce, a new study from the Economic Policy Institute found. Declining unionization is responsible for roughly one-fifth of the growth in wage inequality among women over the same time period (from [...]/p
Voter caging...should Rep. Tim Griffin be in jail?
One of the speakers who took to the stage earlier today at the RNC was Congressman Tim Griffin - who really should be sitting in a jail cell right now. Why's that?
ALEC Goes After the Center for Media and Democracy | Common Dreams
ALEC Goes After the Center for Media and Democracy | Common Dreams
"As calls for investigation of ALEC's lobbying activities and financing practices mount (with three complaints now filed before the IRS and other ethics investigations at the state level), it will take more than Edelman PR and "combat journalism" to rescue ALEC from the trouble it is in."
"As calls for investigation of ALEC's lobbying activities and financing practices mount (with three complaints now filed before the IRS and other ethics investigations at the state level), it will take more than Edelman PR and "combat journalism" to rescue ALEC from the trouble it is in."
Republicans Debate How Much To Cut Education While China And India Invest More
Republicans Debate How Much To Cut Education While China And India Invest More: Republicans have been internally debating just how much to cut federal spending on education, but their platform unveiled this week at their convention in Tampa Bay does little to clarify their vision beyond referencing that no new [...]/p
Hundreds Rally Against Voter Suppression Laws Near Republican National Convention
Hundreds Rally Against Voter Suppression Laws Near Republican National Convention: TAMPA, Florida — Hundreds of citizens rallied nearby the Republican National Convention Tuesday, protesting the spread of voter suppression laws across the country over the past two years. Florida has been the epicenter of voter suppression since 2011. Last year, state Republicans passed a law slashing early voting in the Sunshine State, including cutting out [...]/p
Iowa Hospital Officials Voted Unanimously To Expand Medicaid
Iowa Hospital Officials Voted Unanimously To Expand Medicaid: Although Republican governors across the country have pledged to reject the expansion of the Medicaid program under Obamacare — turning down nearly $300 billion in federal funds and leaving 17 million low-income Americans without coverage — they are standing in direct opposition to medical professionals. Hospital officials across the country have advocated for expanding the [...]/p
Mortgage Company Settles Discriminatory Loan Charges For $3.5 Million
Mortgage Company Settles Discriminatory Loan Charges For $3.5 Million: A mortgage company that was charged with overpricing loans for nonwhite borrowers will pay $3.5 million to the 600 African American and Latino borrowers who paid higher mortgage rates than whites from 2005 to 2009, the New York Times reports. GFI Mortgage Partners will also pay a $55,000 fine, the maximum allowed under the Fair [...]/p
The 8 Worst Examples of Fox News Election Journalism Malpractice (In Just 8 Weeks) | Alternet
The 8 Worst Examples of Fox News Election Journalism Malpractice (In Just 8 Weeks) | Alternet
"Mitt Romney, the Original Bankster , continues to be evasive about his international business affairs, and he refuses to release more than a single year of tax returns in order to quell speculation. His electoral prospects have not been noticeably enhanced with the addition of Wisconsin congressman and right-wing extremist Paul Ryan to the ticket. So, the GOP PR machine (aka Fox News) has swung into action"
"Mitt Romney, the Original Bankster , continues to be evasive about his international business affairs, and he refuses to release more than a single year of tax returns in order to quell speculation. His electoral prospects have not been noticeably enhanced with the addition of Wisconsin congressman and right-wing extremist Paul Ryan to the ticket. So, the GOP PR machine (aka Fox News) has swung into action"
Deficit Hawk Hypocrites | Common Dreams
Deficit Hawk Hypocrites | Common Dreams
"Let us never forget that when Bill Clinton left office in 2001, this country enjoyed a healthy $236 billion SURPLUS.
"Let us never forget that when Bill Clinton left office in 2001, this country enjoyed a healthy $236 billion SURPLUS.
Under George W. Bush and his fellow "deficit hawks," we went to war in Afghanistan and Iraq. Bush and Congress "forgot" to pay for those wars that will end up adding some $3 trillion to our national debt. Where were Paul Ryan and the other "deficit hawks" when we spent trillions on wars and added to the deficit? They voted for those policies.
Under George W. Bush and his fellow "deficit hawks," we gave huge tax breaks to the wealthiest people in this country, which cost $1 trillion over a decade. Where were Paul Ryan and the other "deficit hawks" when Bush and Congress spent a trillion dollars on tax breaks for the very rich and added to our national debt? They voted for those policies.
Under George W. Bush and his fellow deficit hawks, Congress passed an overly expensive Medicare prescription drug program written by the insurance companies and drug industry. The government was barred from negotiating lower drug prices with the pharmaceutical industry under the program, which will end up adding $400 billion to our national debt over a 10-year period. Where were Paul Ryan and the other "deficit hawks" when Bush and Congress spent $400 billion for a much too expensive prescription drug program? They voted for those policies.
Now, having run up huge deficits, our born-again "deficit hawks" want to cut every program in sight to save money. In order to cover the costs they incurred in Iraq and Afghanistan, they want to cut Social Security. In order to cover the costs of the tax breaks for the rich, they want to cut Medicare and Medicaid. In order to cover the insurance-company-written Medicare prescription drug program, they want to cut education and food stamps.
This approach - balancing the budget on the backs of the elderly, the sick, the children and the poor - is not only immoral, it is bad economic policy. It is something that must be vigorously opposed."
Tuesday, August 28, 2012
Fox News' Megyn Kelly Spreads Propaganda That Mitt Romney Is 'Self Made'
Fox News' Megyn Kelly Spreads Propaganda That Mitt Romney Is 'Self Made'
"My God, George Romney was worth a huge fortune and was Michigan royalty as their long-serving governor. If Romney fell into the kind of real hard times that average Americans do every day with no way out, George would have bailed him out as many times as was required. As it was, Romney got the privileged leg up of an expensive prep boarding school and Harvard education, courtesy of Dad's name and wealth. Many wealthy kids try to make it on their own and it's one thing for a person who has no safety net to venture out into the world, but another when you have a gold-plated safety net in the form of a rich and connected dad waiting their to catch you.
"My God, George Romney was worth a huge fortune and was Michigan royalty as their long-serving governor. If Romney fell into the kind of real hard times that average Americans do every day with no way out, George would have bailed him out as many times as was required. As it was, Romney got the privileged leg up of an expensive prep boarding school and Harvard education, courtesy of Dad's name and wealth. Many wealthy kids try to make it on their own and it's one thing for a person who has no safety net to venture out into the world, but another when you have a gold-plated safety net in the form of a rich and connected dad waiting their to catch you.
Megyn breathlessly gushes over Mitt like a love-struck puppy."
Crime-Ridden New Jersey City Busts Police Union To Save Money
Crime-Ridden New Jersey City Busts Police Union To Save Money: A New Jersey city often described as the most dangerous in the country will no longer have its own police force, as a crunched state budget has intensified an effort to reduce costs by busting the local police union. Camden, New Jersey ranks among the most crime-ridden cities in America — in 2008, it had [...]/p
High-Frequency Trading Pioneer: Today’s Trading ‘Has Absolutely No Social Value’
High-Frequency Trading Pioneer: Today’s Trading ‘Has Absolutely No Social Value’: Thomas Peterffy, who pioneered the computer-based high-frequency trading that generates millions of dollars in profits for big banks, said in an interview with NPR’s Planet Money that speed trading has gotten so fast that it now “has absolutely no social value”: Peterffy says automation has done some very good things for the world. It’s made [...]/p
10 Things the GOP Platform Hates About You | Alternet
10 Things the GOP Platform Hates About You | Alternet
"The GOP of 2012 is a big tent. Especially if you're a white, wealthy, currently elderly, heterosexual, Christian, non-DC resident who plans on living forever."
"The GOP of 2012 is a big tent. Especially if you're a white, wealthy, currently elderly, heterosexual, Christian, non-DC resident who plans on living forever."
Prison, Drug War Spending Rockets While Higher Education Funding Declines | Common Dreams
Prison, Drug War Spending Rockets While Higher Education Funding Declines | Common Dreams
"In 2012, both corrections spending and student debt hit $1 trillion milestones, leading higher education advocates to wonder how prison costs soak up education allocations, thus hurting the economy and limiting low income students’ access to campuses."
"In 2012, both corrections spending and student debt hit $1 trillion milestones, leading higher education advocates to wonder how prison costs soak up education allocations, thus hurting the economy and limiting low income students’ access to campuses."
Paul Ryan Didn't Work All That Hard To Help His Own Hometown
Paul Ryan Didn't Work All That Hard To Help His Own Hometown
"Considering how little concern Paul "Atlas Shrugged" Ryan has for his hometown constituents, is it any wonder that supporters had to rehearse when to cheer for him pre-rally?"
"Considering how little concern Paul "Atlas Shrugged" Ryan has for his hometown constituents, is it any wonder that supporters had to rehearse when to cheer for him pre-rally?"
After Democratic Convention Bans Corporate Donations, Corporations Avoid GOP Convention Too
After Democratic Convention Bans Corporate Donations, Corporations Avoid GOP Convention Too: For the first time this year, the Democratic National Convention will take no contributions from PACs, lobbyists, or corporations. A new CQ analysis suggests the Democratic ban caused corporations to rethink their giving to the Tampa Republican National Convention. With public sentiment strongly against corporate political contributions and the Democrats’ ban making it impossible for [...]/p
EXCLUSIVE: As Hurricane Isaac Targets New Orleans, GOP Rep. Calls For Making Disaster Relief Contingent On Budget Cuts
EXCLUSIVE: As Hurricane Isaac Targets New Orleans, GOP Rep. Calls For Making Disaster Relief Contingent On Budget Cuts: TAMPA, Florida — Though many Republicans are fretting about the optics of holding their party’s convention as Hurricane Isaac slams into New Orleans, a leading Tea Party congressman is vowing to use the opportunity to extract budget cuts if Congress wants to dole out disaster funding to help victims. Rep. Raul Labrador (R-ID) told ThinkProgress [...]/p
Uncle Sam Needs YOU for a Bailout: 6 Reasons Another Big Banking Crisis Is Coming Our Way | Alternet
Uncle Sam Needs YOU for a Bailout: 6 Reasons Another Big Banking Crisis Is Coming Our Way | Alternet
"Rampant financial crime and poor regulation can only mean another blowup, and guess who will be holding the bag?"
"Rampant financial crime and poor regulation can only mean another blowup, and guess who will be holding the bag?"
Romney tells miners 'you've got a great boss.' That boss made them lose pay to listen to Romney.
Romney tells miners 'you've got a great boss.' That boss made them lose pay to listen to Romney.
""You've got a great boss, he runs a great operation here," Mitt Romney told a group of Ohio coal miners at a Murray Energy mine on Aug. 14, before launching into an attack on President Obama's supposed opposition to coal. That "great boss," it turns out, had made the miners' attendance at the Romney event mandatory and unpaid"
""You've got a great boss, he runs a great operation here," Mitt Romney told a group of Ohio coal miners at a Murray Energy mine on Aug. 14, before launching into an attack on President Obama's supposed opposition to coal. That "great boss," it turns out, had made the miners' attendance at the Romney event mandatory and unpaid"
US “Fifty Wealthiest Lawmakers” list: A Congress of the rich, by the rich, and for the rich : Information Clearing House: ICH
US “Fifty Wealthiest Lawmakers” list: A Congress of the rich, by the rich, and for the rich : Information Clearing House: ICH
"The “50 Wealthiest Lawmakers” list shows that dozens of congressional politicians have amassed huge fortunes while simultaneously slashing the wages, benefits and social services of the American people."
"The “50 Wealthiest Lawmakers” list shows that dozens of congressional politicians have amassed huge fortunes while simultaneously slashing the wages, benefits and social services of the American people."
Six More Corporations Dump ALEC; 38 Companies Have Now Cut Ties with Corporate Bill Mill
Six More Corporations Dump ALEC; 38 Companies Have Now Cut Ties with Corporate Bill Mill
"Corporations that have publicly cut ties to ALEC since the launch of ALECexposedand related public interest campaigns include Amgen, General Motors, Walgreens, Best Buy, Hewlett-Packard, MillerCoors, John Deere, Dell, Johnson & Johnson, Wal-Mart, Amazon.com, Procter & Gamble, Mars, Wendy's, McDonald's, Kraft Foods, PepsiCo, and Coca-Cola. The addition of GE, Western Union, Sprint, Symantec, Reckitt Benckiser, and Entergy brings the total to 38. Four non-profits -- Lumina Foundation for Education, the National Association of Charter School Authorizers (NACSA), the National Board for Professional Teaching Standards (NBPTS), and the Gates Foundation -- and 70 state legislators have also cut ties with ALEC."
"Corporations that have publicly cut ties to ALEC since the launch of ALECexposedand related public interest campaigns include Amgen, General Motors, Walgreens, Best Buy, Hewlett-Packard, MillerCoors, John Deere, Dell, Johnson & Johnson, Wal-Mart, Amazon.com, Procter & Gamble, Mars, Wendy's, McDonald's, Kraft Foods, PepsiCo, and Coca-Cola. The addition of GE, Western Union, Sprint, Symantec, Reckitt Benckiser, and Entergy brings the total to 38. Four non-profits -- Lumina Foundation for Education, the National Association of Charter School Authorizers (NACSA), the National Board for Professional Teaching Standards (NBPTS), and the Gates Foundation -- and 70 state legislators have also cut ties with ALEC."
6 Right-Wing Zealots and the Crazy Ideas Behind the Most Outrageous Republican Platform Ever | Alternet
6 Right-Wing Zealots and the Crazy Ideas Behind the Most Outrageous Republican Platform Ever | Alternet
"The official 2012 Republican Party platform is a far-right fever dream, a compilation of pouting, posturing and policies to meet just about every demand from the overlapping Religious Right, Tea Party, corporate, and neo-conservative wings of the GOP. If moderates have any influence in today’s Republican Party, you wouldn’t know it by reading the platform."
"The official 2012 Republican Party platform is a far-right fever dream, a compilation of pouting, posturing and policies to meet just about every demand from the overlapping Religious Right, Tea Party, corporate, and neo-conservative wings of the GOP. If moderates have any influence in today’s Republican Party, you wouldn’t know it by reading the platform."
Monday, August 27, 2012
The 99% Take On the Republican National Convention | Alternet
The 99% Take On the Republican National Convention | Alternet
"The 99% are suffering. And it’s a no-brainer that they will suffer even more under Romney than under Obama."
"The 99% are suffering. And it’s a no-brainer that they will suffer even more under Romney than under Obama."
Authoritarian Politics in the Age of Casino Capitalism » Counterpunch: Tells the Facts, Names the Names
Authoritarian Politics in the Age of Casino Capitalism » Counterpunch: Tells the Facts, Names the Names
"The United States has entered a new historical era marked by a growing disinvestment in the social state, public goods, and civic morality. Matters of politics, power, ideology, governance, economics, and policy now translate unapologetically into a systemic disinvestment in institutions and policies that further the breakdown of those public spheres which traditionally provided the minimal conditions for social justice, dissent, and democratic expression. Neoliberalism, or what might be called casino capitalism, has become the new normal. Unabashed in its claim to financial power, self-regulation, and its survival of the fittest value system, neoliberalism not only undercuts the formative culture necessary for producing critical citizens and the public spheres that nourish them, it also facilitates the conditions for producing a bloated defense budget, the prison-industrial complex, environmental degradation, and the emergence of “finance as a criminalized, rogue industry.”[i] It is clear that an emergent authoritarianism haunts a defanged democracy now shaped and structured largely by corporations. Money dominates politics, the gap between the rich and poor is ballooning, urban spaces are becoming armed camps, militarism is creeping into every facet of public life, and civil liberties are being shredded. Neoliberalism’s policy of competition now dominates policies that define public spheres such as schools, allowing them to stripped of a civic and democratic project and handed over to the logic of the market. Regrettably, it is not democracy, but authoritarianism, that remains on the rise in the United States as we move further into the 21st century."
"The United States has entered a new historical era marked by a growing disinvestment in the social state, public goods, and civic morality. Matters of politics, power, ideology, governance, economics, and policy now translate unapologetically into a systemic disinvestment in institutions and policies that further the breakdown of those public spheres which traditionally provided the minimal conditions for social justice, dissent, and democratic expression. Neoliberalism, or what might be called casino capitalism, has become the new normal. Unabashed in its claim to financial power, self-regulation, and its survival of the fittest value system, neoliberalism not only undercuts the formative culture necessary for producing critical citizens and the public spheres that nourish them, it also facilitates the conditions for producing a bloated defense budget, the prison-industrial complex, environmental degradation, and the emergence of “finance as a criminalized, rogue industry.”[i] It is clear that an emergent authoritarianism haunts a defanged democracy now shaped and structured largely by corporations. Money dominates politics, the gap between the rich and poor is ballooning, urban spaces are becoming armed camps, militarism is creeping into every facet of public life, and civil liberties are being shredded. Neoliberalism’s policy of competition now dominates policies that define public spheres such as schools, allowing them to stripped of a civic and democratic project and handed over to the logic of the market. Regrettably, it is not democracy, but authoritarianism, that remains on the rise in the United States as we move further into the 21st century."
In Tampa, Newt Gingrich, Scott Walker Plug Supply-Side Economics | Common Dreams
In Tampa, Newt Gingrich, Scott Walker Plug Supply-Side Economics | Common Dreams
"Wisconsin, along with the rest of the country, has experienced bad unemployment followed by a modest recovery. But during Walker's time in office, the state has hemorhaged jobs, leading the nation in job losses month after month. The recovery experienced by the rest of the nation, reflected in overall employment data, is significantly better than Wisconsin’s, which is a state that has historically had higher employment than most.
"Wisconsin, along with the rest of the country, has experienced bad unemployment followed by a modest recovery. But during Walker's time in office, the state has hemorhaged jobs, leading the nation in job losses month after month. The recovery experienced by the rest of the nation, reflected in overall employment data, is significantly better than Wisconsin’s, which is a state that has historically had higher employment than most.
That's a clear warning sign about the Republican economic vision for America."
Sensata Workers React to Romney Bragging about Chinese Sweatshops
Sensata Workers React to Romney Bragging about Chinese Sweatshops
"Employees of the Bain-owned company Sensata, about whom Kenneth blogged about back in June trying to save their jobs from being outsourced, watched the video and were asked for their reactions."
"Employees of the Bain-owned company Sensata, about whom Kenneth blogged about back in June trying to save their jobs from being outsourced, watched the video and were asked for their reactions."
The Sacramento Kings And Virginia Beach: A Lesson In Taxpayer Extortion
The Sacramento Kings And Virginia Beach: A Lesson In Taxpayer Extortion: Recent reports that the National Basketball Association’s Sacramento Kings were considering — and set to announce — an imminent move to Virginia Beach, Virginia appear premature. The report, which came initially from Inside Business, sent shockwaves around the sports world, given that Virginia Beach has never appeared on the list of possible destinations for the [...]/p
HuffPost: Romney asserted active role in Bain to claim half-million dollar tax deduction in 2010
HuffPost: Romney asserted active role in Bain to claim half-million dollar tax deduction in 2010
"In other words, if Romney's deduction was legal, it means his claim to have had no involvement with Bain after February of 1999 was pure fiction, because as late as 2010, he claimed more than $500,000 in expenses related to his Bain investments. Of course, if it wasn't legal, Romney has other problems."
"In other words, if Romney's deduction was legal, it means his claim to have had no involvement with Bain after February of 1999 was pure fiction, because as late as 2010, he claimed more than $500,000 in expenses related to his Bain investments. Of course, if it wasn't legal, Romney has other problems."
Four Ways the Ohio GOP is Already Stealing the 2012 Election | Common Dreams
Four Ways the Ohio GOP is Already Stealing the 2012 Election | Common Dreams
"Clearly the Ohio GOP is once again geared up to deny the vote---and vote count---to as many Democrats as it can. If it succeeds, as it did in 2004, Barack Obama stands little chance of being re-elected."
"Clearly the Ohio GOP is once again geared up to deny the vote---and vote count---to as many Democrats as it can. If it succeeds, as it did in 2004, Barack Obama stands little chance of being re-elected."
Add It Up: Taxes Avoided by the Rich Could Pay Off the Deficit | Common Dreams
Add It Up: Taxes Avoided by the Rich Could Pay Off the Deficit | Common Dreams
"Conservatives force the deficit issue, ignoring job creation, and insisting that tax increases on the rich wouldn't generate enough revenue to balance the budget. They're way off. But it takes a little arithmetic to put it all together. In the following analysis, data has been taken from a variety of sources, some of which may overlap or slightly disagree, but all of which lead to the conclusion that withheld revenue, not excessive spending, is the problem."
"Conservatives force the deficit issue, ignoring job creation, and insisting that tax increases on the rich wouldn't generate enough revenue to balance the budget. They're way off. But it takes a little arithmetic to put it all together. In the following analysis, data has been taken from a variety of sources, some of which may overlap or slightly disagree, but all of which lead to the conclusion that withheld revenue, not excessive spending, is the problem."
Sunday, August 26, 2012
Paul Ryan And The Fountainhead : Information Clearing House: ICH
Uri Avnery: Paul Ryan And The Fountainhead : Information Clearing House: ICH
"Ayn Rand, it was said, was one of the main inspirations for his particular philosophy. Since Ryan is being represented not as an ordinary, run-of-the-mill politician, like Mitt Romney, but as a profound political and economic thinker, the inspiration deserves some scrutiny."
"Ayn Rand, it was said, was one of the main inspirations for his particular philosophy. Since Ryan is being represented not as an ordinary, run-of-the-mill politician, like Mitt Romney, but as a profound political and economic thinker, the inspiration deserves some scrutiny."
Teaching People to Hate Their Own Govt. Is at the Core of the Project to Destroy the Middle Class | Alternet
Teaching People to Hate Their Own Govt. Is at the Core of the Project to Destroy the Middle Class | Alternet
"Your goal for this step is to figure out how to teach the middle class to hate their own government using a strategy that takes into consideration the political climate of the United States of thirty years ago.
"Your goal for this step is to figure out how to teach the middle class to hate their own government using a strategy that takes into consideration the political climate of the United States of thirty years ago.
Teaching the middle class to hate their government was an essential part of the plan to implement Corporate Feudalism. A middle class cannot exist without a strong government. This is because only a government has the power to stand up to the giant corporations of today’s world, or the powerful individuals and private armies of earlier times. It is the government that enforces the laws to protect the middle class from those who would like to become their economic rulers. That is why prior to the Industrial Revolution and the creation of the middle class all economies were run according to some version of the feudal system. If you want to put an end to the middle class and replace it with a feudal republic, you would need to change people’s perception of their government."
The Billionaires Bill of Rights | Alternet
The Billionaires Bill of Rights | Alternet
"Billionaire corporate interests and other well financed anti-labor forces are waging a major drive to stifle the political voice of workers and their unions in California that is certain to spread nationwide if not stopped - and stopped now.
"Billionaire corporate interests and other well financed anti-labor forces are waging a major drive to stifle the political voice of workers and their unions in California that is certain to spread nationwide if not stopped - and stopped now.
At issue is a highly deceptive measure, Proposition 32, on the state's November election ballot, that its anti-labor sponsors label as an even-handed attempt to limit campaign spending. But actually, it would limit - and severely - only the spending of unions while leaving corporations and other moneyed special interests free to spend as much as they like."
Corporate America’s newest union insult
Corporate America’s newest union insult
"Put it all together, and you see the sleight of hand: In the same way rapacious oil companies try to green-wash their brands to align them with environmental sentiment, the particular industries and companies airing these ads are subtly “worker-washing” their brands in an attempt to equate themselves with populist economic outrage. That they can accomplish this with so few noticing proves that in the age of truthiness, anything can be corporatized — even the anti-corporate zeitgeist."
"Put it all together, and you see the sleight of hand: In the same way rapacious oil companies try to green-wash their brands to align them with environmental sentiment, the particular industries and companies airing these ads are subtly “worker-washing” their brands in an attempt to equate themselves with populist economic outrage. That they can accomplish this with so few noticing proves that in the age of truthiness, anything can be corporatized — even the anti-corporate zeitgeist."
CHART: How Ending The High End Bush Tax Cuts Saves Nearly $1 Trillion
CHART: How Ending The High End Bush Tax Cuts Saves Nearly $1 Trillion: President Obama has promised to end the Bush tax cuts on income in excess of $250,000 when they expire at the end of the year, with his aides saying that he is “100 percent committed” to preventing another extension. Of course, Republicans are again saying that all of the cuts should be extended, even as [...]/p
Saturday, August 25, 2012
U.S.-Funded War in El Salvador Casts Shadow over Romney/Ryan Campaign
U.S.-Funded War in El Salvador Casts Shadow over Romney/Ryan Campaign
"Even if Romney can distance himself from the death squad-linked Salvadoran investors that provided the seed money for his vast wealth, Ryan's political upbringing and his being mentored by a man of Abrams' pedigree makes it clear that the tragedies of El Salvador's civil war and this dark chapter in U.S. history will continue to cast a shadow over the Romney - Ryan campaign."
"Even if Romney can distance himself from the death squad-linked Salvadoran investors that provided the seed money for his vast wealth, Ryan's political upbringing and his being mentored by a man of Abrams' pedigree makes it clear that the tragedies of El Salvador's civil war and this dark chapter in U.S. history will continue to cast a shadow over the Romney - Ryan campaign."
Romney’s Blood Money » Counterpunch: Tells the Facts, Names the Names
Romney’s Blood Money » Counterpunch: Tells the Facts, Names the Names
"Recent revelations about Mitt Romney’s highly profitable company Bain Capital help connect the dots between offshore tax shelters, shady investors; and the role that ill-gotten gains plays in today’s casino-like finance capital.
"Recent revelations about Mitt Romney’s highly profitable company Bain Capital help connect the dots between offshore tax shelters, shady investors; and the role that ill-gotten gains plays in today’s casino-like finance capital.
Both the Los Angeles Times and Huffington Post published investigations in the last month showing that over a third of the $37 million raised by Romney to launch Bain Capital in the mid-1980s came from rich Latin Americans, the bulk of it from Salvadoran families linked to death squads."
Friday, August 24, 2012
RNC speaker's business experience blows holes in party's 'We built it' theme
RNC speaker's business experience blows holes in party's 'We built it' theme
"Since it began operations, FSM has received $15 million in federal contracts two-thirds of which were obtained non-competitively. In fiscal 2012 alone, the company has received more than half a million dollars in government contracts with the Air Force and defense contractors such as Lockheed Martin. Valenzuela's business thrives on government help. Couldn't live without it. She also obviously believes that it's not just the federal government that helps business, but local as well since she is chairwoman of the Economic Development Advisory Panel for the City of Milford."
"Since it began operations, FSM has received $15 million in federal contracts two-thirds of which were obtained non-competitively. In fiscal 2012 alone, the company has received more than half a million dollars in government contracts with the Air Force and defense contractors such as Lockheed Martin. Valenzuela's business thrives on government help. Couldn't live without it. She also obviously believes that it's not just the federal government that helps business, but local as well since she is chairwoman of the Economic Development Advisory Panel for the City of Milford."
Tax experts find shady, possibly illegal, dealings in documents related to Romney's Bain investments
Tax experts find shady, possibly illegal, dealings in documents related to Romney's Bain investments
"As if there weren't enough reason to demand that Romney show us his tax returns, the Bain documents show the kinds of things that such disclosure might shed some light on. And these are, of course, just what one website has been able to get its hands on."
"As if there weren't enough reason to demand that Romney show us his tax returns, the Bain documents show the kinds of things that such disclosure might shed some light on. And these are, of course, just what one website has been able to get its hands on."
WI Ethics Board Should Bar ALEC Corporate Gifts
WI Ethics Board Should Bar ALEC Corporate Gifts
"Imagine a retreat at a swank Wisconsin resort, where elected officials are wined and dined by corporate lobbyists, have their travel and accommodations paid, have activities for their families and their child-care subsidized, and are given tickets to major league ball games and elite parties by corporate lobbyists with business before the legislature.
"Imagine a retreat at a swank Wisconsin resort, where elected officials are wined and dined by corporate lobbyists, have their travel and accommodations paid, have activities for their families and their child-care subsidized, and are given tickets to major league ball games and elite parties by corporate lobbyists with business before the legislature.
These activities would be banned if they took place in the state of Wisconsin, because our state has some of the strongest ethics laws in the nation. Our gift ban prohibits legislators from even taking a cup of coffee from a lobbyist. But if you export the legislators and the lobbyists to out-of-state resorts under the rubric of the American Legislative Exchange Council (ALEC), it has been permitted.
It is time for Wisconsin's Government Accountability Board to take another look at this situation."
Going Undercover at the GOP's Voter Vigilante Project to Disrupt the Nov. Election | Alternet
Going Undercover at the GOP's Voter Vigilante Project to Disrupt the Nov. Election | Alternet
"What we know is that there is an ascendant nationwide right-wing movement to police American elections. We know that movement is turning to dishonest public intellectuals to educate its ranks. We know the focus is much bigger than new voter ID laws, and that True the Vote may or may not disrupt polling place voting this fall. We also know that after November they will be around to share their "lessons" from the voting wars and push solutions. We might hope that they will be honest about the true scope and scale of voting problems that inevitably will surface, especially as they delve into the details of running elections. However, that’s probably naïve."
"What we know is that there is an ascendant nationwide right-wing movement to police American elections. We know that movement is turning to dishonest public intellectuals to educate its ranks. We know the focus is much bigger than new voter ID laws, and that True the Vote may or may not disrupt polling place voting this fall. We also know that after November they will be around to share their "lessons" from the voting wars and push solutions. We might hope that they will be honest about the true scope and scale of voting problems that inevitably will surface, especially as they delve into the details of running elections. However, that’s probably naïve."
Romney Says ‘Big Business Is Doing Fine,’ But He’d Still Give Them A Trillion-Dollar Tax Cut
Romney Says ‘Big Business Is Doing Fine,’ But He’d Still Give Them A Trillion-Dollar Tax Cut: When President Obama said earlier this year that the “private sector was doing fine,” Mitt Romney’s presidential campaign jumped on the comment as a sign that Obama was out of touch with reality. Romney, however, made a similar remark last night at a fundraiser in Minnesota, telling the donors that “Big business is doing fine [...]/p
The China toll: Growing U.S. trade deficit with China cost more than 2.7 million jobs between 2001 and 2011, with job losses in every state | Economic Policy Institute
The China toll: Growing U.S. trade deficit with China cost more than 2.7 million jobs between 2001 and 2011, with job losses in every state | Economic Policy Institute
"The growing U.S. trade deficit with China has displaced millions of jobs in the United States and contributed heavily to the crisis in U.S. manufacturing employment, which has heightened over the last decade largely due to trade with China. Moreover, the United States is piling up foreign debt, losing export capacity, and facing a more fragile macroeconomic environment."
"The growing U.S. trade deficit with China has displaced millions of jobs in the United States and contributed heavily to the crisis in U.S. manufacturing employment, which has heightened over the last decade largely due to trade with China. Moreover, the United States is piling up foreign debt, losing export capacity, and facing a more fragile macroeconomic environment."
Thursday, August 23, 2012
Paul Ryan: The Man Who Wasn't There | The Nation
Paul Ryan: The Man Who Wasn't There | The Nation
"And so while the punditocracy has reacted with rapture to Romney’s choice of Ryan, a USA Today/Gallup poll found him the least popular Republican vice-presidential nominee since George H.W. Bush’s 1988 selection of Dan Quayle. Clearly, if armed with the truth about the Romney-Ryan plan, voters would mark this ticket “return to sender.” Is this why our pundits can’t handle it?"
"And so while the punditocracy has reacted with rapture to Romney’s choice of Ryan, a USA Today/Gallup poll found him the least popular Republican vice-presidential nominee since George H.W. Bush’s 1988 selection of Dan Quayle. Clearly, if armed with the truth about the Romney-Ryan plan, voters would mark this ticket “return to sender.” Is this why our pundits can’t handle it?"
Corporate Profits Rebound But Household Income Falls In Wake Of Great Recession
Corporate Profits Rebound But Household Income Falls In Wake Of Great Recession: Household incomes have fallen faster since the end of the Great Recession than they did during it, even as corporations have returned to greater profitability than they reached before the Great Recession. Corporate profits passed their pre-recession levels earlier this year, but according to a new study from Sentier Research, household incomes have fallen behind, [...]/p
Millions Go Hungry as Congress Considers Food Stamp Cuts and Drought Threatens Crops
Millions Go Hungry as Congress Considers Food Stamp Cuts and Drought Threatens Crops
"Nearly one in five Americans could not afford the food they or their families needed at some point in the past year, and now anti-poverty advocates are pressing Congress to abandon proposed food stamp cuts as a historic drought threatens to drive up food prices across the country."
"Nearly one in five Americans could not afford the food they or their families needed at some point in the past year, and now anti-poverty advocates are pressing Congress to abandon proposed food stamp cuts as a historic drought threatens to drive up food prices across the country."
A Plan for Beating Romney/Ryan's "Dystopian Hellscape": Prosperity Economics | Alternet
A Plan for Beating Romney/Ryan's "Dystopian Hellscape": Prosperity Economics | Alternet
"Hacker proposes to change that debate; he and Nate Loewentheil have rolled out a plan they're calling Prosperity Economics. Rest assured it's got nothing to do with our "friends" atAmericans for Prosperity. Instead, it's an antidote to everything Republicans like Mitt Romney, Paul Ryan, and the Kochs want to see."
"Hacker proposes to change that debate; he and Nate Loewentheil have rolled out a plan they're calling Prosperity Economics. Rest assured it's got nothing to do with our "friends" atAmericans for Prosperity. Instead, it's an antidote to everything Republicans like Mitt Romney, Paul Ryan, and the Kochs want to see."
Federal Reserve Sells Last Of Its Stake In AIG, Turns $18 Billion Profit
Federal Reserve Sells Last Of Its Stake In AIG, Turns $18 Billion Profit: The Federal Reserve of New York sold the last of its stake in American International Group (AIG), the insurance giant bailed out by the federal government in 2008. In selling the last of its assets related to the AIG bailout, the Fed earned an $6.6 billion profit for taxpayers, bringing its total profits from the [...]/p
Romney Plan Would Raise Taxes On Middle Class To Finance Massive Corporate Tax Cut
Romney Plan Would Raise Taxes On Middle Class To Finance Massive Corporate Tax Cut: pA recent analysis based on the loose outlines of Mitt Romney’s proposed tax plan — which would disproportionately benefit the wealthy and corporations — found that to remain revenue neutral, as Romney insists it will, it would have to raise taxes on middle- and lower-class families. The result, the Tax Policy Center concluded, is that [...]/p
The Wall Street Rally That Wasn’t » Counterpunch: Tells the Facts, Names the Names
The Wall Street Rally That Wasn’t » Counterpunch: Tells the Facts, Names the Names
"AAsk yourself this: How can corporate profits grow, when wages are stagnant? They can’t, not for long at least, because–while production costs may go down–workers no longer have the wherewithal to buy the widgets that business produces. So, sales drop and earnings plunge. (And when earnings stumble, stocks should fall.) This problem can be temporarily patched-over by extending hundreds of thousands of dollars of credit to anyone who can sign his name on a mortgage application, but as we now know, that just paves the way to a world of pain. The only real fix is income growth, wages that keep pace with production. Unfortunately, we’re moving in the opposite direction as Charles Biderman points out in this post at TrimTabs:"
"AAsk yourself this: How can corporate profits grow, when wages are stagnant? They can’t, not for long at least, because–while production costs may go down–workers no longer have the wherewithal to buy the widgets that business produces. So, sales drop and earnings plunge. (And when earnings stumble, stocks should fall.) This problem can be temporarily patched-over by extending hundreds of thousands of dollars of credit to anyone who can sign his name on a mortgage application, but as we now know, that just paves the way to a world of pain. The only real fix is income growth, wages that keep pace with production. Unfortunately, we’re moving in the opposite direction as Charles Biderman points out in this post at TrimTabs:"
Professional Malpractice by GOP Economists
Professional Malpractice by GOP Economists
"A big story among the dismal science set has been the Romney campaign's white paper on economic policy, which represents a concerted effort by three economists — Glenn Hubbard, Greg Mankiw and John Taylor — to destroy their own reputations. (Yes, there was a fourth author, Kevin Hassett. But the co-author of "Dow 36,000" doesn't exactly have a reputation to destroy.)
"A big story among the dismal science set has been the Romney campaign's white paper on economic policy, which represents a concerted effort by three economists — Glenn Hubbard, Greg Mankiw and John Taylor — to destroy their own reputations. (Yes, there was a fourth author, Kevin Hassett. But the co-author of "Dow 36,000" doesn't exactly have a reputation to destroy.)
And when I talk about destroying reputations, I don't just mean that these three say things I disagree with. I mean flat-out, undeniable, professional malpractice."
Citigroup CEO: Supermarket Banking ‘A Strategy That I Don’t Believe Is Right For The Times’
Citigroup CEO: Supermarket Banking ‘A Strategy That I Don’t Believe Is Right For The Times’: In the late 1990s, Citicorp made waves on Wall Street by pioneering what is known as “supermarket banking” — the idea that financial institutions could provide a host of services, including stock trading, real estate brokerage, and insurance, in addition to traditional deposit banking. Citicorp, led by chief executive Sanford Weill, purchased insurance giant Travelers [...]/p
Romney, Ryan, and The Devil’s Budget: Will America Keep Its Soul? | Common Dreams
Romney, Ryan, and The Devil’s Budget: Will America Keep Its Soul? | Common Dreams
"The destruction of The Public is not reversible. It would be the death of the very idea of America. Here’s what it would mean.
"The destruction of The Public is not reversible. It would be the death of the very idea of America. Here’s what it would mean.
Even more, a lot more, of the nation’s wealth than the current 40 percent going to the top 1 percent. Poverty up. Opportunity gone. No way for the poor and middle class to get a college education, and maybe not even a decent K – 12 education, and certainly not public pre-schools. As unemployment rises, competition for jobs gets greater, and so wages get even lower and pensions and health benefits disappear. As the public control of the airwaves disappears with the FCC, the corporate control of news rises, and objectivity of reporting gets much lower. Freedom of the press becomes meaningless. When the military controls almost all of the budget, it gets immensely strong in society, threatening civilian control of the military. When the EPA and FDA disappear, say goodbye to clean air, clean water, and safe food. Wilderness in the National Parks will not exist: it will be destroyed in the race to get at our natural resources — wood, minerals, oil and gas.
Along the way, there will be all the cruelty that Democrats are now warning against — the elderly, children, and the poor going without medical care, and so suffering and dying. The unemployed losing their homes. Our young people unable to get the education what would give the freedom to “pursue happiness” — and thus being forced into lives the keep them from being fulfilled. And much more."
Election 2012: Dreams of a Vote Deferred? | Common Dreams
Election 2012: Dreams of a Vote Deferred? | Common Dreams
"It’s not just Pennsylvania. In Ohio, the Republican secretary of state, Jon Husted, has instructed the state’s 88 counties not to allow early voting on weekends, a voter enfranchisement strategy that has been popular with African-American and poorer voters, who tend to vote Democratic. In Florida, Republican Gov. Rick Scott has prevailed against the U.S. Justice Department as he continues a controversial purge of the voter rolls. In Texas, a gun license is an acceptable form of ID, but student ID cards are not. The Brennan Center is tracking laws recently passed or on the way in 25 states, including many key swing states, all which will have the result of making it harder for people to vote."
"It’s not just Pennsylvania. In Ohio, the Republican secretary of state, Jon Husted, has instructed the state’s 88 counties not to allow early voting on weekends, a voter enfranchisement strategy that has been popular with African-American and poorer voters, who tend to vote Democratic. In Florida, Republican Gov. Rick Scott has prevailed against the U.S. Justice Department as he continues a controversial purge of the voter rolls. In Texas, a gun license is an acceptable form of ID, but student ID cards are not. The Brennan Center is tracking laws recently passed or on the way in 25 states, including many key swing states, all which will have the result of making it harder for people to vote."
Meet the Washington Sugar Daddies Who Keep Wall St. Flush with Cash | Alternet
Meet the Washington Sugar Daddies Who Keep Wall St. Flush with Cash | Alternet
"How much is democracy worth to you?
"How much is democracy worth to you?
If you’re like most people, it’s priceless. But for the hedge funds and insurance companies on Wall Street, it does have a price tag. And now, thanks to a new report by Global Exchange, we know the number on it: approximately $4.2 billion. That’s how much the Finance, Insurance, and Real Estate (F.I.R.E.) sector has invested in political influence through campaign contributions and lobbying since 2006. That comes to $1,331 a minute spent on political power."
Wednesday, August 22, 2012
Wall Street Tightens Grip on Public Water as Local Residents Suffer | Common Dreams
Wall Street Tightens Grip on Public Water as Local Residents Suffer | Common Dreams
"Investment bankers and other major financial players are increasingly swooping in on public water utilities and other municipal services in cash strapped towns to the detriment of local residents, according to a new report released today by advocacy group Food & Water Watch. Vulture capitalists are increasingly facilitating the privatization of public infrastructure, taking control of public utilities while skimping on services and causing steep price hikes -- all the while making massive profits."
"Investment bankers and other major financial players are increasingly swooping in on public water utilities and other municipal services in cash strapped towns to the detriment of local residents, according to a new report released today by advocacy group Food & Water Watch. Vulture capitalists are increasingly facilitating the privatization of public infrastructure, taking control of public utilities while skimping on services and causing steep price hikes -- all the while making massive profits."
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