Maybe, just maybe, when the top tax rate goes way down for the rich, they use their excess money to fuel some stupid bubble. Because the theory that cutting taxes for the rich helps grow the economy just doesn’t seem to be working out in practice. UPDATE: In fact, there is a good argument that […]
I was, and am still against bailing out large companies (for many reasons I’ve often discussed). But this is a very sweet ad.
Esquire Magazine put together a commission to balance the budget. You may not agree with all their decisions, but at least they did it. If you want to skip to the detailed results, they are here. They did it with a combination of sensible spending cuts with a small amount of tax increases.
Recently, the NY Times published a “deficit-reduction calculator” that is fun to play with, but its options for reducing government spending and raising revenue are simply too limited. Ezra Klein gives some links to other similar calculators, but in case you want to skip to the ending, pretty much the only way to balance the […]
Bloomberg implicitly asks the obvious question: Investors say that president Obama is bad for the bottom line; if so, then why are US corporations on track for the biggest earnings growth in 22 years, and the stock market is going like gangbusters again? 68% of US investors say that Obama’s policies are detrimental to the […]
A new poll finds that by an astounding two-to-one margin, likely voters in next week’s election think that federal taxes have gone up, believe the economy has shrunk, and are under the distinct impression that the money lent to banks as part of the TARP program won’t be recovered. The truth is that Obama cut […]
© Matt Wuerker Not only that, but the same people are screaming to give the invisible hand even more power.
© Tom Toles I guess the Republicans consider deficit reduction to be a faith-based initiative.
The Center for Public Integrity has an interesting report called “Stimulating Hypocrisy”. It is well known that many of the same politicians who voted against the stimulus bill (and continue to call it a waste of money) simultaneously worked hard to direct that money towards their own pet projects. I guess I can’t blame them, […]
David Michael Green has a brilliant rant about the Tea Party. Here are (too many) choice quotes, but the whole (fairly short) article is worth a read. It’s ironic, to begin with, that the ones who are bitching loudest today are precisely the people who created the mess we’re in. The astonishing irony here is […]
© Clay Bennett They protest against taxes, and yet taxes are at their lowest rate since WWII (and we are having to lay off teachers because of it). They claim lower taxes will result in greater prosperity, and yet the periods when our prosperity was highest was back when taxes were much higher. Did Bush’s […]
By the way, you know that big bank bailout that the pundits and Tea Party are still screaming about as an example of government waste and increasing the debt? It turns out that the Troubled Asset Relief Program has actually made money for the government — $25.2 billion actually. That’s a 8.2% return over two […]
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