Category Archives: Economy

Why You Should Hate Teapublicans. Let Me Count The Reasons.

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1 – Richard Nixon’s Watergate break-in intended to literally steal an election. 

2 – The “Southern strategy” in which the GOP embraced racists. 

3 – The “Moral Majority” in which the Party embraced “social” issues. 

4 – Reagan’s union-busting. 

5 – Elimination of loan interest deductions resulting in huge tax increases for the middle class.

6 – Cuts to capital gains taxes and estate taxes on the wealthy. 

7 – Reagan’s Iran-Contra plan which financed Central American death squads.

8 – Deregulation of Savings and Loan institutions resulting in the loss of billions.  

9 – Gun laws putting military-style weapons in the hands of millions. 

10 – $60 million witch hunt and impeachment of President Clinton. 

11 – Massive voter suppression giving the 2000 election to George W. Bush. 

12 – Bush’s failure to act on warnings of a 2001 terrorist attack. 

13 – The Bush tax cuts.

14 – The unnecessary and completely unfunded war in Iraq. 

15 – “Swift-boating” of Vietnam War Hero, Sen. John Kerry. 

16 – Richard “The Dick” Cheney. 

17 – The outsourcing of our military to corporations. 

18 – Awarding government contracts to corporations with offshore “headquarters.” 

19 – Deregulation of banks resulting in mortgage fraud.

20 – The Great Recession.

21 – Subsidies and tax breaks for corporations that send jobs offshore.

22 – Fox News Channel and right-wing hate radio. 

23 – Unsubstantiated claims about President Obama’s birthplace and religion. 

24 – The Tea Party.

25 – Sarah Palin, Michele Bachman, Steve King and Paul Ryan. 

26 – Attacks on women’s rights. 

27 – Attacks on the LGBT community. 

28 – Plans to repeal The Affordable Care Act. 

29 – Assaults on Medicare, Medicaid and Social Security. 

30 – Obstruction of hundreds of President Obama’s appointments. 

31 – Filibusters. 

32 – Buckley v. Valeo resulting in a ruling that money is free speech.

33 – Citizen’s United which gave corporations the same rights as people.  

34 – Voter ID laws intended to steal the coming election.

35 – Attacks on Public Broadcasting, education and the environment.

36 – Blaming the poor and the unemployed for our deficit.

37 – Blaming teachers and first responders for our deficit.

38 – Trying to balance the budget on the backs of the poor.

39 – Vilifying immigrants to get votes.

40 – The debt ceiling debate.

41 – Embrace of Ayn Rand’s self-centered philosophy.

42 – Lies, lies and more lies.

Learn more in The Teapublican Book of Lies available from Amazon.com and other on-line bookstores

“The Betrayal of the American Dream.”

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That’s the title of a new book by Donald L. Bartlett and James B. Steele, which I highly recommend.  If you’d like to learn more, check out this story from NPR.  You’ll also find a link to a podcast of their interview on NPR’s Morning Edition.

These are not exact quotes, but here are a few tidbits I remember from their interview.  If you fired all federal employees, you’d only cut the annual deficit in half.  From a budget standpoint, the US is a military with health benefits.

I believe the book illustrates the true problems facing our nation.  As you’ll see, these problems go well beyond the usual stupifying rhetoric about tax rates and the size of government.

Of course, I also recommend my own book: The Teapublican Book of Lies available at Amazon and other on-line bookstores.

Maybe Democrats Should Let Teapublicans Drive Our Economy Off A Cliff.

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Don’t say it.  I already know what you’re thinking.  Republicans already did that in 2008.  But they’re not satisfied yet.  They want to cut taxes on corporations and the very wealthy.  At the same time, they want to increase our military budget.

To accomplish that without creating an even larger pool of red ink, they have proposed draconian cuts.

Medicare, Medicaid, Social Security, the United States Postal Service, the Department of Education, the Environmental Protection Agency, the Department of Commerce, and the Food and Drug Administration are all on their list of targets.

And, with the national debt approaching the spending ceiling, they want to let the US default on our obligations…a decision that many economists say will cause our credit rating to plummet and likely result in the end of the dollar as the world standard of currency.

Teapublicans continue to ignore the warnings of such actions, and they refuse to listen to reason.  If they take control of the White House and Congress, they threaten to follow through with their ideological (more appropriately, idiotic) plans.

I, for one, am tired of trying to reason with unreasonable people.

Maybe we should let them drive our economy and our nation off the cliff.  It will be painful.  But only when there is massive unemployment and long soup lines will the vast majority of voters finally realize what the GOP (Guardians Of Privilege) actually stand for.

When Did It Become Patriotic To Avoid Paying Income Taxes?

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Mitt Romney has been smart and very lucky.  The son of a famous father, he has used his privileged childhood and education to make millions – often by bankrupting companies and offshoring American jobs.  To make himself even wealthier, he also offshored his money in Switzerland, Bermuda, the Cayman Islands and Luxembourg.

That allowed Romney to pay income taxes at a rate of less than 15 percent in 2010. Now insiders from Bain Capital claim that Romney didn’t pay any income taxes at all for at least 10 years before that!

No wonder he doesn’t want to release those tax forms.

But Teapublicans don’t see anything wrong with such behavior.  Many even claim that it’s patriotic to avoid paying taxes.  Seriously?  That’s your definition of patriotism?

You can ignore the sacrifice of soldiers who have served 5, 6 or more tours of duty in a war zone?  You can ignore those who take less than they deserve to serve soldiers in Veteran’s hospitals?  You can diminish those who work long hours for little money to teach children?  You can ignore those who risk their lives to save others as first responders?

None of that is patriotic according to Romney’s supporters.

According to them, true patriotism is squeezing every possible dime from your tax form.  It’s cutting food stamps for the poor.  It’s turning your back on homeless veterans and homeless children.  It’s allowing thousands to die each year for lack of access to healthcare so you can buy another vacation home or a bigger yacht.

If this is the Republican definition of American patriotism, it’s time for the party to crawl into the deepest recesses of history.

Poll: At Least 17% Of Americans Are Nitwits.

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A new poll conducted by the Pew Forum on Religion and Life has found that 17 percent of Americans believe President Obama is Muslim.  Of course, that’s not true.  The President is Christian.  Indeed, many of the same people who want to believe he’s Muslim were originally outraged at statements made by his Chicago Christian pastor.

But that’s not the extent of the lunacy on the right. 

According to a Public Policy Polling survey in March of this year, 37 percent of Americans believe the President was not born in the U.S.  Yet another 21 percent are unsure. (They must have forgotten Hawaii achieved statehood in 1959.)

However, given the other wrong-headed beliefs of the right, none of this should come as any real surprise. After all, these are people who reject education and science.  Many think the Earth is just 6,000 years old and that dinosaurs are a myth invented to test the faith of Christians.

These are people who fail to see a connection between the easy availability of military-style assault weapons and mass killings.  The same people who think that giving ever-increasing tax breaks to the filthy rich will somehow help their own financial circumstances.  People who think defaulting on US debts will benefit our economy.

Obviously, they cannot be educated and informed.  They refuse to listen to anyone but their own equally deluded brethern.  Yet their vote counts the same as yours and mine.

Do you still believe in America exceptionalism?

What Mitt Believes In.

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It’s ironic that Mitt Romney’s campaign slogan is “Believe in America,” because he obviously doesn’t.

What does he believe in?

In a word, money.  His money.  It doesn’t matter if it’s in dollars, francs, pounds, euros, rmb…whatever.  Mitt believes in possessing it.  Lots of it.  And he doesn’t like giving any of it away for taxes.  That’s why he’s used an assortment of tax havens and accounting tricks to keep his tax rate below that of most working people.

Of course, Mitt doesn’t mind that others have to make up for the taxes he dodges.  Based on his tenure with Bain Capital, he doesn’t mind that their jobs are shipped overseas, either.  Or that their companies are dissolved leaving them without jobs, benefits or pensions.

In fact, he’s already said that he’ll cut other jobs if elected president.  He wants to eliminate or combine numerous federal agencies, including the Department of Education and the Department of Housing and Urban Development.  He also wants to give his wealthy cronies a big tax cut; nevermind that the money to pay for it will come out of the pockets of the poor and middle class.

According to a new Joint Economic Committee study, the Romney-Ryan Budget Plan will increase taxes on those making $50,000-$100,000 by $1,300 per year.  It will cost those making $100,000-$200,000 $2,600 per year.  On the other hand, if you make $500,000-$1 million, you will get a check for $35,000.  And if you make more than $1 million, you’ll get a check for $285,000!

Moreover, it has been estimated that Romney’s proposed policies would create 800,000 jobs…overseas.  His tax cuts for corporations would reduce corporate tax revenue by more than $1 trillion over the next decade.  And, of course, he plans to repeal “Romneycare…er…Obamacare” increasing profits for insurance companies and big PhRMA.

Is it any wonder that Forbes magazine calls the Romney-Ryan Budget “A mistake of historic proportions?”

U…S…A! U…S…A…er, China!

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Remember those chants after the US Olympic hockey team upset the Soviet Union?  We’ve come a long way since then.

Back then, our Olympic team’s uniforms were made in America.  But, today, our Olympic team’s uniforms are made in China like almost everything else we use.  The US Olympic Committee hired an American icon, Ralph Lauren, to design them.  Then he turned around and outsourced their manufacture to China.

Of course, many Americans are upset upon learning the news, including politicians on both sides of the aisle.  They called it an embarrassment.  They said our Olympic Committee should be ashamed.

But are they willing to do anything about it?

In fact, it’s Congress that is responsible for subsidizing corporations for sending jobs and money offshore.

Willing Ourselves To A Better Economy.

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As several economists have told me, we get the economy we want.  If we think the economy is good, we will buy what we want or need.  Our purchases will increase sales for retailers.  That will increase manufacturing, and the economy will thrive.  As a result, tax revenue grows and our deficits decrease.

On the other hand, if we think the economy is going to be bad, we will restrict spending and increase saving.  If enough people do this, our economy will be pushed into recession, jobs will be cut, tax revenues drop and our deficits and national debt will grow.

Most people know this, especially large corporations, the wealthy and politicians.  And they often manipulate these principles in order to cash in on easy money.  The losers of this sort of manipulation are almost always ordinary working people.

Everyone knows about the principle of buy low, sell high.  So if you’re among the wealthy and powerful, it doesn’t benefit you if the economy grows at a steady, sustainable rate.  In order to really cash in, you need to create periods of high growth, followed by recessions.  In the midst of a recession, you buy low.  Then at the peak of growth, you sell high.  That’s why a chart of our economic history looks like a ride through the Rocky Mountains.

The interest of the wealthy and powerful is obviously money.  But why would politicians be interested in such a strategy of manipulation?

In a word, Power.

If the opposition is in power, the GOP (Guardians Of Privilege) starts screaming about inflation, deficits, debt and other issues in order to frighten ordinary people.  If they scream loud enough and long enough, a large percentage of our population will hold onto their cash in preparation for the coming calamity and delay purchases.  As a result, the economy struggles.

That’s what’s been happening for the past 3+ years.

In order to make President Obama fail, Teapublicans have howled about “outrageous” deficits.  They talk about “saddling our grandchildren with oppressive, overwhelming debt.”  They’ve scared voters about illegal immigrants taking their jobs.  They’ve talked about an “out-of-control government” and “the end of freedom.” 

Unfortunately, the Tea Party, the religious right and others have scooped up this load of dung as if it were gold in the streets.

The only way to avoid being buried by the dung is to call it what it really is.  And to let everyone know that the people spreading the dung are the southern-most end of a north bound elephant.

The Freedom To Fail On Your Own.

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There’s a long-standing attitude of individualism in the US that causes people to inherently dislike any form of collectivism, such as collective bargaining through labor unions.  As I wrote in a previous post, we come from a long line of independent-minded people; people who were pushed out of Europe by dictators of all ilks, from royalty to the Roman Catholic Church.

Unfortunately, corporations and their lackeys on the right have been able to exploit this inborn streak of independence to extract money from us.  They have used a combination of lobbyists, campaign contributions, exportation of jobs, and right wing media megaphones to undermine labor unions and pit workers against one another in order to maximize profits while minimizing wages and benefits.

As a result of the propaganda, far too many Americans equate labor unions with socialism or communism.  Many poor and middle class workers vote for candidates that will continue the pattern of withdrawing employee benefits, eliminating pensions, depressing wages and foreclosing on homes.  Now they are turning their attention to the “entitlements” – Social Security and Medicare.

Yet many of us will continue to support corporations out of the fear of losing our jobs, misplaced loyalty, or the determination to “make it on our own.”  What these people don’t understand is that any individual’s disagreement with a large, heavily capitalized corporation is not a fair fight.  A retail clerk cannot fairly negotiate with a big box retailer.  An assembly line worker cannot win against a large manufacturer.  A maid cannot fight a large hotel chain.

The only chance they have to improve their position and their wages is to band together.  Individuals, no matter how hard they work, are far more likely to fail on their own than to make it on their own.

Greedy Bastards!

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Lately, I’ve been reading Dylan Ratigan’s book, Greedy Bastard$.  This is an even-handed account of how corporations and banks are sucking America dry.  I recommend it to everyone – Democrats, Independents and Teapublicans alike.  I warn you:  It will not only educate you about the state of our nation and how we got here.  It will infuriate you by showing you how corporations and politicians are destroying the nation while, at the same time, wrapping themselves in the American flag (which by the way is now made in China).

If you read it, you will get angry.  But that’s exactly what we need.  Check it out at: http://greedybastards.com/