Robert Reich: Everyone would benefit from higher taxes on the wealthy to finance public investments in roads, bridges, public transit, better schools, affordable higher education, and healthcare but higher unemployment helps to boost corporate profits.
Robert Reich: Senate Minority Leader Mitch McConnell’s compromise on the debt ceiling is a win for the President disguised as a win for Republicans. But it really just kicks the can down the road past the 2012 election – which is what almost every sane politician in Washington wants to happen in any event.
Carl Bloice: A call for actually retooling the economy for today’s challenges and granting preferential tax treatment to struggling working people could stir some enthusiasm among people now seeming inclined to sit out the election.
Joseph Palermo: The massive trading and swapping of Collateralized Debt Obligations (CDOs) and other abstractions cooked up by the fertile minds of sociopathic Wall Street “traders” not only did nothing to lubricate the real economy through financial intermediation, but they helped bring down the entire system and cost taxpayers hundreds of billions of dollars.