Romney’s Poverty of Thought

romney red alert

Steve Hochstadt: Romney thinks that the people who got the jobs he says he created are those irresponsible parasites who are hopelessly dependent on government. That is ironic.

Flat Tax a Flat-Out Fraud

herman cain

Robert Reich: All flat-tax proposals benefit the rich more than the poor for one simple reason: Today’s tax code is still at least moderately progressive. The rich usually pay a higher percent of their incomes in income taxes than do the poor. A flat tax would eliminate that slight progressivity.

Taxing the Rich, the Obama Way

Warren-Buffett-wide

Robert Reich: You can bet Republicans will continue to harp about the large portion of low-wage earners who pay no income taxes — without mentioning that they pay a higher portion of their incomes than anyone else in payroll and sales taxes.

The Great Switch by the Super Rich

super-rich-wide

Robert Reich: Forty years ago, wealthy Americans financed the U.S. government mainly through their tax payments. Today wealthy Americans finance the government mainly by lending it money.

How Democrats Can Become Relevant Again

entertainment-wide

Robert Reich: Republicans offered Democrats two more weeks before the doomsday shut-down. Democrats countered with four. Republicans held their ground. Democrats agreed to two. This is what passes for compromise in our nation’s capital.

The Big Lie

death panels

Robert Reich: Americans no longer have the purchasing power to keep the economy going at full capacity. Since the debt bubble burst, most Americans have had to reduce their spending; they need to repay their debts, can’t borrow as before, and must save for retirement.

Obama’s First Stand

Robert Reich: The President says a Republican proposal to extend the Bush tax cuts to everyone for two years is a “basis for conversation.” I hope this doesn’t mean another Obama cave-in.

The Future of American Jobs

Jobs

Robert Reich: The Great Recession has accelerated a structural shift in the economy that had been slowly building for years. Companies have used the downturn to aggressively trim payrolls, making cuts they’ve been reluctant to make before. Outsourcing abroad has increased dramatically. Companies have discovered that new software and computer technologies have made many workers in Asia and Latin America almost as productive as Americans, and that the Internet allows far more work to be efficiently moved to another country without loss of control.

Employers Take Beating Laying Off Employees

Layoffs

Sherwood Ross: As millions of Americans have been fired by employers struggling to remain profitable, we have all borne witness to Corporate America’s calloused disregard of its workers. Now, canny business economists claim the layoffs have hurt employers, too.

Democratic “Accomplishments” Not Nearly Enough

Democratic spine

Joseph Palermo: Unless the Congress moves some progressive legislation quickly there’s going to be trouble this fall because any political party that is stupid enough to allow a couple of shmucks like Joe Lieberman and Ben Nelson, or the outcome of a special election in New England, to unravel its governing coalition doesn’t deserve to be in power.

The Housing Crisis and Wall Street Shame

Housing Crisis

The $75 billion federal program designed to bribe banks to modify mortgages has been a bust. No one knows the exact number of mortgages that have been modified (that will be reported next month) but housing experts I’ve talked with say it’s a tiny fraction of the number of homeowners in trouble. Seems that the big banks can’t be bothered.

Intellectual Monopoly Is an Unnecessary Evil

monopoly

In a rush to stimulate the economy, the Obama administration is touting various “visionary” plans to make the American economy more progressive, more innovative, and more forward-looking by subsidizing politically-motivated projects like “green” technology. These hands-on policies will be ineffective. Recent research suggests that a much more effective way to accomplish the same goals would [...]

A Modest Plan for Paying College Costs

falon_williams

I’m just about to head off to a commencement here at University of Califonria,  Berkeley. The news that keeps banging around in my head is that the state has just announced a whopping 9% increase in fees for next academic year, the third fee increase in three years. The average young person now graduating from [...]

And Now Homeowners

homeowners

The two most important features of the administration’s plan to help homeowners are, first, its support for amending bankruptcy laws to allow judges to modify mortgages. This will give homeowners bargaining leverage with mortgage servicers (and give the servicers more leverage with securitized creditors on up the line) to get better terms; and, second, a [...]

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