When You’ve Lost the VFW on Budget Cuts, You’ve Lost America

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Richard RJ Eskow: The “chained CPI” is an attempt to camouflage deep cuts to Social Security and other benefits, along with tax hikes on middle class wages (but not for high incomes), in a forest of numbers and terminology.

Prop 30 vs. Prop 38: A Voter Guide for Parents

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Kim Tso: I based my analysis on one simple principle: Children should not be made to pay for the mistakes of grown-ups. With that in mind, this is what I decided.

Romney’s Poverty of Thought

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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.

Top 10 Reasons We See Romney’s Tax Returns Anytime Soon

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Dotty LeMieux: It’s got to be juicy, or Romney’d join with most the other Presidential candidates of the last forty years and let the public see the numbers.

Mitt Misses Middle Class’s Decline

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Robert Reich: January’s increase in hiring is good news, but it masks a bigger and more disturbing story – the continuing downward mobility of the American middle class.

$1.4 Billion to Houston from Immigration Legalization

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Michele Waslin: If all unauthorized workers in the Houston region were legalized and they and their employers paid Social Security, Medicare, unemployment insurance, and federal income taxes, additional tax revenues would exceed $1.4 billion.

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

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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.

We Need to Rethink the Morality of the Economy

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James Livingston: Why can’t the liberal Left answer the Right when budget deficits are the issue? Why are Democrats, Obama included, so eager to reduce spending on so-called entitlements?

The Great Switch by the Super Rich

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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.

Why We Must Raise Taxes on the Rich

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Robert Reich: It’s tax time. It’s also a time when right-wing Republicans are setting the agenda for massive spending cuts that will hurt most Americans.

How Democrats Can Become Relevant Again

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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

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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.

Why the Tax Deal Confirms the Republican Worldview

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Robert Reich: As income and wealth have risen to the top, so has political power. Money is being used to bribe politicians and fill the airwaves with misleading ads that block all of this.

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 Republican Recipe for An Anemic Economy Through Election Day 2012

john boehner

Robert Reich: The real message from voters was “Fix this stinking economy.” But Republicans have no intention of doing so. With Republicans in control of the House, forget spending increases or tax cuts to stimulate the economy.

The Fed’s New Bubble (Masquerading as a Jobs Program)

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Robert Reich: The latest jobs bill coming out of Washington isn’t really a bill at all. It’s the Fed’s attempt to keep long-term interest rates low by pumping even more money into the economy (“quantiative easing” in Fed-speak).

The Great Jobs Depression Worsens, and the Choice Ahead Grows Starker

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Robert Reich: If there was ever a time for bold government action it is precisely now. Obama should be storming the country, demanding the largest responses to the jobs emergency in history. He and the Dems should be giving Republicans hell for their indifference to all this.

Tax Jujitsu: Why Democrats Should Propose a “People’s Tax Cut”

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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.

The Future of American Jobs

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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

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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

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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.

2009: The Year Wall Street Bounced Back and Main Street Got Shafted

2010 Great Recession

Robert Reich: As long as income and wealth keep concentrating at the top, and the great divide between America’s have-mores and have-lesses continues to widen, the Great Recession won’t end — at least not in the real economy.

The Housing Crisis and Wall Street Shame

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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.

The Real News About Jobs and Wages: An Ode to Labor Day

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If we’ve learned anything from the Great Recession-Mini Depression of the last 18 months, it’s that the skewing of income and wealth to the top has made our economy far less stable.

Intellectual Monopoly Is an Unnecessary Evil

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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

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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 […]

Where Government Spending Should be Trimmed — And Why It’s Necessary to Fast-Track Universal Health Care

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It’s no accident that as Congress returns this week from its two-week recess and begins debate on the $3.5 trillion budget plans for the fiscal year starting in October — which may or may not include a provision that fast-tracks Obama’s health care proposal by allowing it to pass the Senate with a mere majority […]

California Budget: What Happened Last Fall — The New Budget Immediately Starting Bleeding Red Ink

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The 2008-09 budget which was passed in September of last year ( two and a half months late) contained several overly optimistic (I would say wildly unsustainable) assumptions concerning revenue: First, it assumed the sale of over $3 billion in revenue bonds, but no one wanted to buy California bonds. Second, it “borrowed” from over […]

And Now Homeowners

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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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