Robert Reich: Democrats should propose eliminating payroll taxes on the first $20,000 of income, and making up the revenue loss by applying payroll taxes to incomes above $250,000.
Ivan Eland: The Cold War is long over, and the concomitant rationale (dubious even then) for using an interventionist U.S. foreign policy to attempt to run the world is now obsolete and even dangerous in an era of blowback terrorism. Many empires throughout history have collapsed or withered away because their aspirations were too big for their wallets; the U.S. is in that perilous position now. Therefore, the United States should dramatically retract its defense perimeter, thus cutting the U.S. security budget by half and saving more than $500 billion a year.
Robert Reich: It seems as if more and more decisions that should be made democratically are being shunted off somewhere to a few people who make them in back rooms. Which programs should be cut, which entitlements pared back, and what taxes raised in order to reduce the long-term budget deficit? Hmmm. Let’s convene a commission and have them decide.
No president in modern times walks a tightrope as exquisitely as this one. His balance is a thing of beauty. But when it comes to this economy right now — an economy fundamentally out of balance — we need a federal government that moves boldly and swiftly to counter-balance the huge recessionary forces still at large
This week’s articles.
As California faces a fiscal meltdown, Democrats blame Republicans for opposing essential tax hikes. But progressives own failures should not be ignored. California Republicans have been anti-tax zealots since the mid-1990’s, yet progressives failed to prioritize passing a ballot measure eliminating the two-thirds requirement for budget passage in 1998, 2000, 2004, or 2008, each of [...]
In the market for a prime piece of real estate? Governor Schwarzenegger has the deal for you! Facing a $21.3 Billion budget deficit in California, Schwarzenegger has offered to sell state-owned property to make up the difference. The crown jewel of the proposed fire sale is San Quentin State Prison, home to California’s death row [...]
Although the U.S. is not in imminent danger of attack from any country, President Obama’s first budget further expands the Pentagon’s already dominant global operations. Not even the prospect of a $3.1 trillion combined budget deficit for this year and next deters him. Let them chop the budget for black colleges and police officer death [...]
Governor Schwarzenegger’s May “budget revise” last week – which proposed more mass layoffs, more painful cuts and more reckless borrowing – had all the makings of the end of a Shakespearean tragedy, where the protagonist has run out of options due to troubles of his own making. One could also view it as the definition [...]
Here’s my favorite line from Mayor Antonio Villaraigosa’s “State of the City” speech Tuesday: “When challenges seem daunting, it’s always helpful to recall the old Japanese proverb: ‘Adversity is the foundation of virtue.’ ” My personal favorite proverb comes from my mother: “Actions speak louder than words.” I’ve been struggling since last night to put [...]
California is not doing very well. It has the largest budget deficit of any state, and its funding of schools, health care, transportation and other basic services is held hostage by far right-wing Republicans. Yet California is staunchly Democratic in presidential and U.S. Senate races, and produced the greatest number of Obama volunteers of any [...]
Obama’s Budget Finally, A Progressive Budget. This Mini Depression is partly the result of a widening gap between what Americans can afford to buy and what Americans when fully employed can produce. –Robert Reich Obama’s Goal: Halving the Budget Deficit by 2012. Really? Halving the budget deficit by 2012 is a nice goal but it [...]
California’s Failure to Invest in Higher Education Gives the State Little Hope for Economic Prosperity in the 21st Century Global Economy
As California’s leaders continue to wrestle with how to tackle the ever growing budget deficit, cuts to education and in particular public higher education, continue to be mentioned as a solution to economic tumult. Such cuts would be a blow to a State that already has fallen from “trend-setter” in terms of education and economic [...]
Prison Budget Expands, Education Budget Cut While the Governor and legislature propose massive cuts to education and 2,000 public works projects are on hold, a bill to propel a $12 billion prison construction project was sent to Governor Schwarzeneggar. This bill is designed to fix problems with AB900, the largest prison construction plan in history. [...]
The announcement that syndicated talk radio host, Larry Elder, was leaving his daily radio “squawk show” shouldn’t go without notice. Elder is a major remnant of the “colorblind” conservative movement that allowed race and race-based disparities to be subjugated through senseless rationales of relative truths, which made no sense when Elder’s show was launched in [...]
Both presidential candidates have been criticized for failing to name any promises or plans they’re going to have to scrap because of the bailout and the failing economy. That criticism is unwarranted. The assumption that we are about to have a rerun of 1993 — when Bill Clinton, newly installed as president, was forced to [...]