I'm still in some shock about what happened in the presidential election. I never expected such an easy, and huge, win for the Democratic Party. I really expected late voting count shenanigans from the Republicans, who have pulled these off so well in the last three elections. I was somewhat prepared for the night to drag on into the next day before we had the results. None of that happened. Instead, we knew President Obama had been re-elected before we went to bed; we knew the Democrats had captured new seats in the Senate AND the House! We knew that the worst of the Tea Party had all been turned out of Congress! What a clear, if surprising, victory for Democrats, and repudiation for, at last, the extreme right wing of the Republican Party. We now have a chance to continue the real momentum of progress in the United States.
Random thoughts......
If you or someone you know has not seen the exhaustive study on the effects of lowering income taxes on the very rich on job growth, here is a link to the study:
Marginal Tax Rates and the Concentration of Wealth It shows clearly that there is no correlation, and it was done by a Congressional group known for objectivety. Senator Mitch McConnell forced the withdrawal of this important study, but it is still seeing the light of day.
Here is an interesting article on why Obama does so poorly with white men:
Why Do White Men Think Romney Should Be President?
Another 'must read,' from Robert Reich, posted on his Facebook page, October 31, 2012, emphasis mine:
Monday's post provoked lots of discussion -- some quite heated. The main point is that our concept of "the market" has always had a moral dimension. At various times in our history we have outlawed war profiteering, windfall profits, price gouging, usury, scalping, and other instances in which one party exploits certain advantages it has over another party because we deem such exploitation to be unfair and immoral.
But as inequality grows, and wealth and power are concentrated in fewer hands, the vast majority of us are losing our ability to be heard; we no longer have much say over what's fair or unfair, and the moral dimension of "the market" are being lost. What had been thought of as exploitative is becoming merely a matter of supply and demand. The economy no longer works for us, we work for it....."
Republic Senator Tom Colburn Reports the Facts
Somehow I missed Senator Tom Colburn's report when it came out last year. While I don't agree with all of his factors, I'm so glad to see such a report from the Right, especially his dollar amount for tax subsidies to the rich for their homes. I've never seen a number attached to this ridiculous tax break, which Senator Colburn's report states is $28 billion annually! This, by the way, is from a Senator who scores a net liberal rating of -50 at my favorite website for rating Congress, That's My Congress For comparison, Senator Barbara Boxer scores a +50 (and is far from the top rating).
From the Huffington Post article on this report: "For Coburn, who describes his survey as the first-ever compilation of federal aid for the richest, such a startling figure makes no sense when most of the country is struggling to get by. He also thinks it reveals some sensible targets for Congress' stymied debt-trimming super committee.
From the Huffington Post article on this report: "For Coburn, who describes his survey as the first-ever compilation of federal aid for the richest, such a startling figure makes no sense when most of the country is struggling to get by. He also thinks it reveals some sensible targets for Congress' stymied debt-trimming super committee.
"Even in these difficult times, the United States remains a land of opportunity and not everyone is in need of government handouts," wrote Coburn in the accompanying letter.
"The income of the wealthiest 1 percent of Americans has risen dramatically over the last decade. Yet, the federal government lavishes these millionaires with billions of dollars in giveaways and tax breaks," he wrote, referring to the growing income gap recently documented in stark fashion by the Congressional Budget Office.
"The government's social safety net, which has long existed to catch those who are down and help them get back up, is now being used as a hammock by some millionaires, some who are paying less taxes than average middle class families," Coburn contended.
And what the report "reveals is sheer Washington stupidity with government policies pampering the wealthy costing taxpayers billions of dollars every year," Coburn argued."
Coburn totaled up all the federal money for millionaires over several years that his office could find. Among the handouts for the well-heeled are:
- $18.15 million in child care tax credits
- $74 million in unemployment checks
- $89 million for preservation of ranches and estates
- $316 million in farm subsidies
- $608 million in business entertainment deductions
- $9 billion in retirement checks
- $21 billion in gambling losses
- $28 billion in mortgage breaks for mansions, vacation homes and yachts
Some of the payments, such as for Social Security and Medicare, stem from payroll taxes and are not means-tested when they are paid out. Advocates of such payments believe the government made a promise to individuals that it must keep, regardless of their wealth.
Some other payments, such as the millions received by the wealthy to preserve land or to use alternative energy sources, arise from programs that proponents consider beneficial overall, even if the rich get the money.
But Coburn doesn't see much justification for these payments, considering how well the wealthy have done over the last 30 years compared to everyone else. "Fleecing the taxpayer while contributing nothing is not the American way," he wrote.
Wonderful Logic from the Right
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