The Self-Destruction of the 1 Percent. The Great American Taxpayer Robbery. Big Banks' Second Mortgage Foreclosure Game. Wall Street Wins Again - Fraud Totally Unchecked. Bank of America's Taxpayer Robbery. Wall Street Setting Up Financial Armageddon. Study: Romney Tax Plan Favors The Rich. Oops: Romney Praises Poland's Economy But... Democrats Fighting Back on Fiscal Cliff. Canada Crushing America In...
President Obama "End Tax Cuts For Rich" Is Obama a Socialist? - U.S. Election 2012. He's widely seen as a pragmatist within the Democratic Party mainstream who's had ample success raising campaign funds from wealthy Wall Street capitalists. Even some of his strongest critics acknowledge that his administration hasn't sought one of the classic forms of socialism — government control of the nation's means of production. Terence Ball, a political scientist at Arizona State University, said "socialist' has gained currency as an anti-Obama slur because "the `L' word (liberal) has lost its shock value.
" "I grow weary of Obama and the Democrats being called socialist," said Ball, who has written about ideologies. "If you talk to any real socialist, they disown them very, very quickly. " Full-fledged U.S. socialists are relatively scarce these days — three socialist-oriented presidential candidates received about 21,000 votes among them in 2008. "It makes absolutely no sense," said Greg Pason, national secretary of the Socialist Party USA. Romney Reluctance. The Private Sector And The Public Sector Under Obama. What We Can Learn From Iceland. Sen. Sanders Blasts Fed Conflicts Of Interest. When the rich have 85 percent of U.S. wealth, 'equality of opportunity' can't exist. Republican Plan to Sabotage US Economy. Bush tax cuts. The phrase Bush tax cuts refers to changes to the United States tax code passed originally during the presidency of George W. Bush and extended during the presidency of Barack Obama, through: The Bush tax cuts had sunset provisions that made them expire at the end of 2010, since otherwise they would fall under the Byrd Rule.
Whether to renew the lowered rates, and how, became the subject of extended political debate, which was resolved during the presidency of Barack Obama by a two-year extension that was part of a larger tax and economic package, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. In 2012, during the fiscal cliff, the tax cuts were made permanent for single people making less than $400,000 per year and couples making less than $450,000 per year, and eliminated for everyone else, under the American Taxpayer Relief Act of 2012.
Before the tax cuts, the highest marginal income tax rate was 39.6 percent. Debate over effect of cuts[edit] Who Spends More: Democratic Or Republican Presidents? A TED Talk on Income Inequality by Nick Hanauer. Obama Reduced Taxes, Spending and Deficits - Romney Refuted By Facts. Unions Are Good for the American Economy. By David Madland and Karla Walter | February 18, 2009 Alaska | Arkansas | California | Delaware | Indiana | Louisiana | Maine | Montana | Nebraska | New Hampshire | North Carolina | North Dakota | Pennsylvania | Virginia | Wisconsin U.S. fact sheet (pdf) Unions Are Good for Workers and the Economy in Every State Robert Reich, Beth Shulman, and Karla Walter The essence of what labor unions do—give workers a stronger voice so that they can get a fair share of the economic growth they help create—is and has always been important to making the economy work for all Americans. And unions only become more important as the economy worsens.
One of the primarily reasons why our current recession endures is that workers do not have the purchasing power they need to drive our economy. What is sustainable is an economy where workers are adequately rewarded and have the income they need to purchase goods. Unions help workers achieve higher wages American workers’ wage growth lags as productivity increases. The Stanford Center for the Study of Poverty and Inequality - 20 Facts About U.S. Inequality that Everyone Should Know. World of Class Warfare - The Poors Free Ride Is Over - The Daily Show with Jon Stewart - 08/18/11 - Video Clip | Comedy Central. Dodd-Frank Explained [GRAPHIC] Lee Doren vs. Cenk Uygur on the Economy. Progressive Budget Vs Conservative Budget. How the Fed Works"
Paul Krugman To Ron Paul: 'You're Living In A World That Was 150 Years Ago' Econ nerds, eat your hearts out. Paul Krugman and Ron Paul just got into it on Bloomberg TV over whose monetary policy views are more dated. Paul struck first, calling the idea that the Federal Reserve could effectively determine what the proper interest rate should be "presumptuous. " Then Krugman essentially accused him of living in a fantasy universe. "You can't leave the government out of monetary policy," Krugman said during the not-quite-epic debate billed as "Paul vs.
Not to be outdone, Paul had some choice words of his own about what era Krugman is living in: "He wants to go back 1,000 years or 2,000 years, just as the Romans and the Greeks or others debased their currency," Paul said. Krugman zinged back: "I am not a defender of the economic policies of Diocletian," referring to the Roman emperor. The somewhat heated exchange wasn't all that surprising considering Krugman and Paul have almost completely opposite views. Why Ron Paul Is Wrong About The Gold Standard.avi. States of Depression.
There are several reasons for this slowness, with the most important being the overhang of household debt that is a legacy of the housing bubble. But one significant factor in our continuing economic weakness is the fact that government in America is doing exactly what both theory and history say it shouldn’t: slashing spending in the face of a depressed economy.
In fact, if it weren’t for this destructive fiscal austerity, our unemployment rate would almost certainly be lower now than it was at a comparable stage of the “Morning in America” recovery during the Reagan era. Notice that I said “government in America,” not “the federal government.” The federal government has been pursuing what amount to contractionary policies as the last vestiges of the Obama stimulus fade out, but the big cuts have come at the state and local level. Start with government employment (which is mainly at the state and local level, with about half the jobs in education). We’re talking big numbers here.