🤯 POLITICS: WITH THE ECONOMY THE #1 ISSUE, WHY WOULD VOTERS TRUST AN EXTREME RIGHT GOP PLEDGED TO DESTROY IT, INCREASE INFLATION, & PROVOKE A WORLDWIDE ECONOMIC CRISIS? — Tax Cuts, Slashing The Safety Net For The Most Vulnerable, Increasing Income Equality, & “Playing Chicken” With The Debt Ceiling Are A Recipe For Disaster! — C. Rampell @ WashPost

Catherine Rampell
Catherine Rampell
Opinion Columnist
Washington Post

https://www.washingtonpost.com/opinions/2022/10/18/gop-debt-ceiling-plan-financial-crisis-recession/

. . . .

House Minority Leader Kevin McCarthy (Calif.) and other Republicans have recently backed proposals to make the 2017 Trump tax cuts permanent, as well as to extend or expand several other corporate tax breaks.

Never mind that Americans think corporations already pay too little in taxes, according to many polls. Cutting taxes further is also likely to make inflation worse, for the same reason that Republicans argue that increased government spending can also make inflation worse: Giving people more cash to spend when there’s limited stuff to buy drives prices up.

The scariest part of the recently disclosed GOP economic agenda, however, has largely gone under the radar. It’s the plan to hold the debt ceiling hostage next year, which could easily precipitate a global financial catastrophe.

Republicans have withheld their support from raising the debt limit before, usually framing their hostage-taking as a commitment to fiscal restraint. But the debt ceiling has nothing to do with new spending; rather, it’s a somewhat arbitrary statutory cap on how much the government can borrow to pay off bills that it has already incurred, through tax and spending decisions that Congress has already made. Refusing to raise the debt limit is like going to a restaurant, ordering the lobster and a $500 bottle of wine, and then declaring yourself financially responsible because you skipped out on the check.

Actually, it’s worse than that.

. . . .

Forcing a debt limit crisis, as the world teeters on the verge of recession, is the opposite of what you would pursue if you cared about strengthening the economy. But no matter: Just look at the context-free polls! Surely, under GOP stewardship, the economy will be in good hands.

*******************

Read Catherine’s complete op-ed at the link.

Democrats try hard, if imperfectly, to solve problems for the general good. The GOP, not so much! Their focus is on lining the pockets of their “fat cat” funders, replacing “good government” with chaos,  and “beggar thy neighbor” policies. 

🇺🇸 Due Process Forever!

PWS

10-19-22

VOTE ‘EM OUT: Selfish GOP Politicos Spent Years Dismantling The Already-Inadequate U.S. Safety Net & Distributing The Spoils To Their Fat Cat Buddies Through Unnecessary Tax Cuts (a/k/a “Welfare For The Rich”) & Misdirection Of Money To Wasteful Spending — Now They Need It To Save Their Sorry Political Butts — But, Don’t Expect A Long Term Change Of Heart From A Party Of Selfish Elites & Their Wannabe Enablers!

Willie Nelson
Willie Nelson
Country Music “Hall of Famer” & American Icon

“Vote ‘Em Out”

By Willie Nelson

If you don’t like who’s in there, vote ’em out
That’s what Election Day is all about
The biggest gun we’ve got
Is called “the ballot box”
So if you don’t like who’s in there, vote ’em out

Vote ’em out (vote ’em out)
Vote ’em out (vote ’em out)
And when they’re gone we’ll sing and dance and shout
Bring some new ones in
And we’ll start that show again
And if you don’t like who’s in there, vote ’em out

If it’s a bunch of clowns you voted in
Election Day is comin’ ’round again
If you don’t like it now
If it’s more than you’ll allow
If you don’t like who’s in there, vote ’em out

Listen to Willie here:

https://www.azlyrics.com/lyrics/willienelson/voteemout.html

 

Tracy Jan
Tracy Jan
Economics & Race Reporter
Washington Post

https://www.washingtonpost.com/business/2020/03/25/trillion-dollar-stimulus-checks/

Tracy Jan reports for the WashPost:

Conservatives gutted the social safety net. Now, in a crisis, they’re embracing it.

By Tracy Jan

March 25 at 10:00 AM ET

Throughout his term, President Trump has chipped away at the social safety net, proposing budgets that gutted housing assistance, food stamps and health insurance for the poorest Americans. When Congress rejected those cuts, the Trump administration enacted rules to make it harder to access federal benefits, such as requiring recipients to work.

Now, with businesses shuttered, workers laid off, and scores more worrying about buying groceries, being evicted and getting sick, the swelling need for federal assistance has forced even conservative lawmakers to embrace government protections in a series of sweeping stimulus bills.

Under the $2 trillion stimulus deal reached in the Senate early Wednesday, Republicans are proposing sending direct cash payments of $1,200 to individual Americans, an idea that, on the surface, echoes former Democratic presidential candidate Andrew Yang’s universal basic income platform. They want to bolster the unemployment insurance system after many GOP-led states spent years enacting restrictive criteria and reducing benefits.

“Anybody who is a moderate-wage worker who just experienced an economic lockdown in their state is in distress. Most people don’t have savings,” said Robert Rector, a research fellow at the Heritage Foundation, a conservative think tank that guides much of the Trump administration’s policymaking.

[Facing eviction as millions shelter in place]

Rector, an architect of the 1996 federal welfare overhaul that instituted work requirements under President Bill Clinton, generally opposes safety net measures that do not promote work and marriage. But he would like to see more-generous benefits for individuals and cities in crisis in response to the coronavirus — for a finite period of time.

“Quite frankly, I’m willing to spend more money right now,” he said. “It’s a very different thing in an emergency.”

[[Sign up for our Coronavirus Updates newsletter to track the outbreak. All stories linked in the newsletter are free to access.]]

The $100-billion-plus Families First coronavirus response package Trump signed last week dramatically expands paid sick leave and family medical leave for tens of millions of workers, provisions aimed at blunting the economic impact of the pandemic.

The United States lags behind other developed countries when it comes to providing universal health care as well as paid leave for sick workers and those who have to care for family members.

“Here we had this ‘strong economy’ and all of a sudden the bubble has burst, and policymakers are scrambling to put into place basic protections other societies have,” said Rebecca Vallas, a senior fellow at the left-leaning Center for American Progress.

[As layoffs skyrocket, the holes in America’s safety net are becoming apparent]

*********************

Read Tracy’s full article at the link.

We recently went through a period of sustained economic growth and high employment that started under Obama and continued under Trump, until now. A wise nation might have used increased tax revenues to shore up the safety net, repair infrastructure, reduce spending on futile wars and defense overruns, invest for the future, and/or reduce deficit. Instead, the GOP frittered away the opportunity by mindless Government shutdowns and unnecessary tax cuts that lined the pockets of the already well-off while doing little to help the long term situation of the average American family. Indeed companies were encouraged to cut benefits to workers to pay out more to shareholders and to their executives, without much regard to the competence or value to the company of the latter.

Now, the embarrassing inadequacies and gaps of our safety net are being exposed every day. Even the GOP has turned, albeit somewhat reluctantly, to throwing several trillion into the breach, as long as it all doesn’t all go to those who need it most. Natural disasters have become the “new normal.” But, under Trump and his kakistocracy, America has consistently been underprepared to meet them. 

That the hardest hit Americans get a substantial chunk of this emergency funding is a tribute to Pelosi, Schumer, and the Dems. Left to their own devices, Trump, Mitch, and the GOP would have basically mailed a modest check (or checks) to most Americans (other than the poorest) and funneled the rest into the pockets of their businesses buddies and state cronies with little oversight or accountability. Can you imagine the Grifter-in-Chief and his toadies being allowed to divvy up the loot, in secret, no less?

This emergency is unusual in nature. But, emergencies come and emergencies go. Presidents come and they (thankfully) go. What doesn’t go away is the need for a strong well-developed safety net that covers basic health care, unemployment, income assistance, and retirement benefits for all Americans, not just the wealthy. History has shown that’s not likely to happen as long as the GOP grifters remain in power.

We have a chance to save America and put ourselves on a better course for the future. Vote Trump and his GOP out in November. Your future and that of future generations will depend on it.

PWS

03-25-20

GRIFTER-IN-CHIEF STICKS IT TO FEDERAL WORKERS! – “Today’s announcement has nothing to do with making government more cost-efficient — it’s just the latest attack in the Trump administration’s war on federal employees.”

https://www.cnn.com/2018/08/30/opinions/donald-trump-is-shafting-federal-workers-begala/index.html

Paul Begala writes @ CNN:

Paul Begala, a Democratic strategist and CNN political commentator, was a political consultant for Bill Clinton’s presidential campaign in 1992 and was counselor to Clinton in the White House. He was a consultant to Priorities USA Action, which was a pro-Obama super PAC before it was a pro-Hillary Clinton super PAC. The opinions expressed in this commentary are his. View more opinion articles on CNN.

(CNN)President Donald Trump ran for office as a populist. He swore to fight for the “forgotten men and women,” a phrase he stole from FDR. But under his presidency, the middle class remains forgotten — hammered is more like it.

President Trump’s announcement that he wants to cancel the 2.1% pay raise for federal workersis just the latest assault on the middle class.
He sent a statement to Congress on Thursday saying we can’t afford to give our people a measly 2.1% bump because — are you ready for this? — “We must maintain efforts to put our nation on a fiscally sustainable course, and federal agency budgets cannot sustain such increases.”
Donald Trump is now worried about the debt. Are you kidding me? That’s like John Dillinger worrying about gun violence. Like Kim Kardashian worrying about being overexposed. Like Donald Trump worrying about spray-tanning and pathological lying.
President Trump championed a tax cut that spends $1.5 trillion on the forgotten corporate class. According to the nonpartisan Tax Policy Center, when the GOP tax bill is fully implemented, an astonishing 83% of its benefit will flow to the top 1%.
The President’s answer to the fiscal meltdown he is causing is not to ask those who’ve gotten the most to pay a little more. It’s to hurt the folks who are already serving us.
Sen. Mark Warner, a Democrat from Virginia, home to numerous federal workers, both in the D.C. area and the Norfolk naval region, called BS on Trump’s newfound fiscal prudence.
“Let’s be clear,” Warner wrote in a statement, “the President’s decision to cancel any pay increase for federal employees is not motivated by a sudden onset of fiscal responsibility. Today’s announcement has nothing to do with making government more cost-efficient — it’s just the latest attack in the Trump administration’s war on federal employees.”
The American Federation of Government Employees, the union that represents 700,000 of the 2 million federal workers, is vowing to fight. “Federal employees have had their pay and benefits cut by over $200 billion since 2011, and they are earning nearly 5% less today than they did at the start of the decade,” said AFGE President J. David Cox Sr. in a press release. He plans to push Congress to go over President Trump’s head and mandate the pay hike.
I hope they win. After all, you get what you pay for. Do you want your overworked air traffic controller to be missing meals and feeling faint? Do you want your Social Security check being handled by someone who’s holding three jobs? How about bridge inspectors and meat inspectors and the folks who fight forest fires? Or the scientists and doctors who are working around the clock to find cures for Alzheimer’s and cancer and HIV/AIDS?
Should they get a pay cut? Do you want the men and women who take on the drug cartels to be worried about making their rent payment? Really?
Worse still, President Trump wants to end what’s known as the “locality pay increase” — an annual adjustment to assist federal workers in parts of the country where the cost of living is high — like, say, the neighborhood Trump Tower is in. So TSA agents at LaGuardia Airport in New York, medical researchers in Atlanta, Drug Enforcement Administration agents in Los Angeles, homeland security professionals in D.C. — all will suffer.
Of course, while federal workers struggle, President Trump has made a fortune from government assistance. One analysis by The New York Times estimates Trump received $885 million in tax breaks from New York alone. And that doesn’t count the millions he’ll get from the tax cut he signed.
You might even say they’ve been forgotten.
***********************************
A deficit exploding $1.5 trillion for tax cuts for the upper 1% who don’t need them!  But, in the middle of a booming economy, our Government can’t afford any money for its hard-working employees who are keeping the country running despite Trump’s “Clown Kakistocracy!” Come on man! It’s all a part of Trump’s war on the United States and his scheme to destroy our Government. Sadly, it’s consistent with various proposals from the “Bakuninist Wing” of the GOP over the years.
The solution for those who want our republic to continue: get out to the vote and throw the grifters and their fellow travelers out of office, starting this November!
PWS
08-31-18

BESS LEVIN – THE LEVIN REPORT – After A Year Of Being One Of Trump’s Chief Toadies To Fulfill Dream Of Big Tax Cuts For Fat Cats That Cripple The Government, Screw The Needy, & Blow Up The Deficit, “Spineless Paul” Ryan Panics When Trump Goes Bonkers On Tariffs!

Levin writes for Vanity Fair:

“For his entire adult life and, let’s be honest, probably a good portion of his teen years, Paul Ryan has fantasized about tax cuts the way some people fantasize about having sex with a porn star. Not just any old tax cuts, of course, but the kind that disproportionately benefit corporate America and the upper-echelons of the ultra rich, while handing average Americans an extra buck fifty a paycheck and expecting an outpouring of gratitude in return. We know this because 1) he’s openly and unabashedly obsessed with Ayn Rand, and 2) just a few short months ago, the House Speaker released a sizzle reel highlighting his many urgent calls for tax cuts spanning nearly 20 years in office. In Donald Trump, a man who has never demonstrated conviction in anything other than enriching himself and other people named Trump, Ryan saw an opportunity for his longtime dream to become a reality. That’s why, for more than a year now, Ryan has put up with everything from the president demanding loyalty from the head of the F.B.I. (“he’s new at this!”) to his decision to give Nazis a free pass (“he’s learning!”) to his refusal to release his tax returns, even though Wisconsin’s first son could compel to do so (“tee-hee!”). And in December, Ryan’s commitment to holding his nose and looking the other way paid off, big time.

This week, though, we learned that there are, in fact, limits to what Ryan will put up with, and they involve imperiling the legacy of his tax bill and upsetting his corporate sugar daddies. In the wake of the president’s decision to announce that he plans to effectively start a trade war, Ryan’s spokeswoman, AshLee Strong, said in a statement on Monday: “We are extremely worried about the consequences of a trade war and are urging the White House to not advance with this plan. The new tax-reform law has boosted the economy and we certainly don’t want to jeopardize those gains.” To be clear, most people outside of the G.O.P. already expect the long-term effects of the tax bill to be a deficit-busting mess. But with Trump’s call to slap steel and aluminum imports with 25% and 10% tariffs, more or less out of spite, the havoc wreaked on the economy could be even worse, with experts estimating 146,000 job losses, among other consequences. Presumably, Ryan was also inspired to find his voice on the issue—and to fire off at least one passive-aggressive tweet—on account of the fact that the Koch brothers, who donated half a million dollars to his fundraising committee after the bill passed, harshly condemned the tariffs. And as they teach lawmakers on their first day on Capitol Hill, one mustn’t upset one’s benefactors.

Trump, though, apparently could not care less about Ryan’s (or anyone else’s) concerns, telling reporters Monday “we’re not backing down” and that the tariffs are “100 percent” happening. The U.S., he said, has been “ripped off” by other countries for too long, and “we are going to take care of it.” Perhaps the one ray of hope in this otherwise terrifying situation? Because this whole thing was put together in such a half-assed, completely slipshod way, Trump’s advisers—the ones who support the tariffs—are already hedging their bets:

Peter Navarro, an adviser and the architect of many of Mr. Trump’s campaign-trade promises, confirmed on Sunday that the president would not exclude any country from the tariffs but said individual companies could apply for exemptions for certain products. . . . Navarro [also] left room for change in the timing of the tariffs, which the president said would be signed this week. “Toward the end of the week,” Mr. Navarro said in a separate appearance on CNN’s State of the Union, when asked when the tariffs would be announced. “At the latest, it would be the following week.”

Wilbur Ross, the secretary of commerce, also appeared to leave room for the president to change his mind. “Whatever his final decision is, is what will happen,” Mr. Ross said on NBC’s Meet the Press. “What he has said he has said. If he says something different, it’ll be something different.” “If he for some reason should change his mind, then it will change,” Mr. Ross added, noting that he had no reason to believe that the president would do so.

Or as a top Republican put it to Politico: “I’ve stopped worrying and reacting to the day-to-day because you get all stressed out about something, then you realize tomorrow morning by lunch that it’s never going to happen.”

Report: Trump’s personal lawyer couldn’t believe he wasn’t immediately reimbursed for $130,00 porn-star payment

It’s almost as though you can’t trust a guy who (allegedly!) had an affair with an adult film star named Stormy Daniels right after his wife gave birth to their son:

The lawyer, Michael Cohen, wired the money to a lawyer for former actress Stephanie Clifford, known professionally as Stormy Daniels, from an account at First Republic Bank. The money was received on Oct. 27, 2016, 12 days before the presidential election, another person familiar with the matter said…Mr. Cohen said he missed two deadlines earlier that month to make the $130,000 payment to Ms. Clifford because he couldn’t reach Mr. Trump in the hectic final days of the presidential campaign, the person said.

Ms. Clifford was owed the money in return for signing an agreement that bars her from discussing an alleged sexual encounter with Mr. Trump in 2006, people familiar with the matter said. After Mr. Trump’s victory, Mr. Cohen complained to friends that he had yet to be reimbursed for the payment to Ms. Clifford, the people said.

Honestly, finance departments should really provide expense-report templates for this kind of thing. (Asked for comment from the Wall Street Journal, Cohen responded: “Fake News.”)

You might want to sit down for this . . .

This might come as a shock, but there are whispers the Trump Organization is attempting to profit off the presidency:

In recent weeks, the Trump Organization has ordered the manufacture of new tee markers for golf courses that are emblazoned with the seal of the president of the United States. Under federal law, the seal’s use is permitted only for official government business. Misuse can be a crime.

Past administrations have policed usage vigilantly. In 2005 the Bush administration ordered the satirical news website The Onion to remove a replica of the seal. Grant M. Dixton, associate White House counsel, wrote in a letter to The Onion that the seal “is not to be used in connection with commercial ventures or products in any way that suggests presidential support or endorsement.”

Area man demands media leave the Trumps alone!

****************************************
Now is is a great time to re-read Andy Borowitz’s (all too true) satire on “Spineless Paul” that I reprinted on Courtside in December 2017:

https://www.newyorker.com/humor/borowitz-report/koch-brothers-and-nra-reach-timeshare-agreement-over-ownership-of-paul-ryan

“WASHINGTON (The Borowitz Report)—In a unique accord, the billionaire Koch brothers and the National Rifle Association have reached a timeshare agreement over the ownership of House Speaker Paul Ryan, representatives of both parties have confirmed.

Speaking on behalf of the Kochs, Charles Koch said that he contacted the N.R.A.’s executive director, Wayne LaPierre, with the timeshare proposal “so that we could all get the maximum enjoyment out of owning Paul.”

The arrangement is intended to minimize conflicts between the Kochs and the gun group that have arisen in the past when both co-owners have wanted to use Ryan at the same time, Koch said.

“I said to Wayne, ‘This is craziness,’ ” he said. “ ‘Let’s work something out where you get Paul half the year, and we’ll take him the other half.’ ”

Under the timeshare deal, the Kochs will have the exclusive use of Ryan during the months when tax cuts and environmental deregulation are put to a vote, while the N.R.A. will have him for the months when gun legislation is to be defeated.

Additionally, each co-owner is responsible for insuring that Ryan is well maintained and in good condition when the other’s period of using him commences.

Koch indicated that, if the timeshare agreement is a success, the two parties are likely to work out a similar deal for their longtime joint ownership of Senate Majority Leader Mitch McConnell.”

However, the deep corruption of the GOP and its leaders, from Trump on down, isn’t really something to laugh about. At some point, the “nickel and dime” income boost given to average Americans by the GOP’s totally bogus and unwarranted “tax cuts” for the rich will automatically expire (but, naturally, not for the rich) and the true bill for running up the deficit so the Koch Bros and others can get richer will come due. By that time, conveniently, Trump, Ryan, and hopefully McConnell will be out of office. But, the damage they are doing to our country will be left for others, likely the Democrats, to clean up. That’s what Kleptocracy is all about, folks. Steal what you can when you can and then get out of Dodge while the getting is good!

PWS

03-06-18

BESS LEVIN @ VANITY FAIR: BULLY-IN-CHIEF “THREATENS STOCK MARKETS!” – “What’s he going to do to the ‘Stock Market’? Fire it? Send it back to its country of origin? Demand it produce its long-form birth certificate?” – NOW THAT THEY ARE IN CHARGE, GOP “SPENDS LIKE DRUNKEN SAILORS,” LEAVING POOR, MIDDLE CLASS, AND FUTURE GENERATIONS TO PICK UP TAB FOR TAX CUTS THAT LINE FAT CATS’ POCKETS!

https://www.vanityfair.com/news/2018/02/trump-stock-market-big-mistake

Bess writes:

“Earlier this week, the Dow Jones Industrial Average plummeted a record-setting 1,597 points, the biggest point decline in history during a single trading session. Donald Trump, who has patted himself on the back for gains in the stock market on a near daily basis since becoming president, was uncharacteristically silent on the matter, while the White House suddenly claimed it was focused on the long-term health of the economy, rather than short-term market fluctuations. However, given his uniquely thin skin, not to mention the fact that the Dow dared to take a nosedive in the middle of one of his speeches, it was only a matter of time before the president weighed in on the matter.

What we expected: perhaps an angry rant sent from his bed in the East Wing, or maybe a targeted attack on one of the many experts who have said, more or less, that he was a fool for tying himself to the market. (Trump may “fancy himself a great expert,” Horizon Investments chief global strategist Greg Valliere told me, but “the markets are . . . tricky and they’re really humbling. Not to be cliché, but you live by the sword and you die by the sword.”) But never in our wildest dreams did we imagine Trump’s counterattack would be something so magnificent as this:

It’s only one tweet. But there’s so much to appreciate:

  1. When Trump says the stock market went down because of “good news,” what he’s referring to is the fact that many have attributed Monday’s drop (as well as last Friday’s) to the strong U.S. employment numbers which, among other things, are leading traders to fear higher wage demands and rising inflation, at a time when the economy is getting a giant, yuuuge stimulus in the form of the tax cuts. Trump was actually warned by a lot of people, who he didn’t listen to, that given where unemployment was—at a multi-year low—and the relative strength of the economy, now was the exact wrong time for a stimulus. (“Passing the tax reform bill is like throwing a small cup of gasoline on a fire that’s already burning,” one expert said.) But he did it anyway, because he’s stupid, and now the markets are worried about a recession (which Trump was also warned about).
  2. You know he has literally no idea how modern financial markets operate and that his basis for the stock market is a bunch of guys holding up little pieces of paper and shouting on the floor of the stock exchange.
  3. Isn’t it great that Trump believes he can bully and intimidate the “Stock Market” like he does his political enemies? What’s he going to do to the “Stock Market”? Fire it? Send it back to its country of origin? Demand it produce its long-form birth certificate?
  4. We’re calling it now: the president is one indignity away from giving the stock market a derogatory epithet. Watch your back, Liddle Stock Market! Fake Tears Stock Market! Low Energy Stock Market! Sad!

Trump (probably) won’t get another shutdown, after all

On Tuesday, the president of the United States said that he’d “love” to see the federal government shut down should Democrats fail to give him what he wants re: cracking down on illegal immigration. But for once, lawmakers do not seem inclined to oblige him. On Wednesday, Senate leaders announcedthat they’d reached a bipartisan spending agreement. And not just anyspending agreement, but a real deficit-buster that will raise spending caps by roughly $300 billion over the next two years. According to The New York Times, the limit imposed on military spending—by a 2011 deal “once seen as a key triumph for Republicans”—will be increased by $80 billion for the current fiscal year and $85 billion for the next one. Nondefense spending will increase by $63 billion this year and $68 billion next year. And while most Republicans have long since given up pretending to care about “fiscal responsibility,” not everyone is pleased.

Jason Pye, vice president FreedomWorks, told the Times that the deal “isn’t just fiscally irresponsible, it’s an abomination,” adding that “no one in Congress who claims that they’re a deficit hawk or a fiscal conservative can justifiably vote for [it].” Freedom Caucus leader Jim Jordan was practically in tears over the idea that Paul Ryan, whom he thought he could trust, would betray his Ayn Randian ideals in such a heinous fashion. Calling the agreement a “monstrosity,” he fumed to Politico “I just never thought that Speaker Ryan—with his history and his background in budget issues, and his concern with the debt and deficit issue—I just never thought that this would be something that the Congress would put forward.” Freedom Caucus member Mo Brooks likewise told reporters, “I’m not only a no; I’m a hell no,” and basically compared the deal to a narcotic: “This spending bill is a debt junkie’s dream,” he said. “Quite frankly, I’m astonished that the Republican Party seems to be the party of big government in this day and age.”

Nancy Pelosi also said she wouldn’t support the budget, but for reasons that Jordan would sooner spit in his mother’s face than get behind. From the House floor, Pelosi said that without an accompanying commitment from Ryan or Mitch McConnell to debate legislation to protect Dreamers, “[the] package does not have my support, nor does it it have the support of a large number of members of our caucus.”

Read the rest of the “Levin Report” at the link.
Another “right on” observation:
  1. “You know he has literally no idea how modern financial markets operate and that his basis for the stock market is a bunch of guys holding up little pieces of paper and shouting on the floor of the stock exchange.”

Kind says it all about what Trump voters and the GOP are doing to America. Ignorance, arrogance, bullying, incoherence, irrationality — what more could we ask for in a “Supreme Leader?” Let’s celebrate with a big (expensive) parade!

PWS

02-08-18

 

MICHELLE GOLDBERG IN THE NYT: AS GOP LEADERS SUCK UP TO “DER FURHER,” THIS IS WHAT NEO-NAZI SUBMISSION LOOKS LIKE!

https://www.nytimes.com/2017/12/22/opinion/fifty-shades-trump-republicans.html

Michelle writes:

“At a televised cabinet meeting on Wednesday, Donald Trump, as is his custom, called on his appointees to publicly praise him. In a performance that would have embarrassed the most obsequious lackey of the North Korean leader Kim Jong-un, Vice President Mike Pence delivered an encomium to his boss, who sat across the table with arms folded over his chest, absorbing abasement as his due.

“I want to thank you, Mr. President,” Pence said. “I want to thank you for speaking on behalf of and fighting every day for the forgotten men and women of America. Because of your determination, because of your leadership, the forgotten men and women of America are forgotten no more. And we are making America great again.” The president thanked him for his kind words, and Pence replied, “Thank you, Mr. President, and God bless you.”

It was a neat summation of where the Republican Party is at the end of the first year of Trump. There’s been a synthesis, in which Trump and establishment Republicans adopt one another’s worst qualities. Trump, who campaigned as a putative economic populist — even calling for higher taxes on the rich — will soon sign into law the tax plan of the House speaker Paul Ryan’s Ayn Randian dreams. The majority of elected Republicans, in turn, are assuming a posture of slavish submission to Trump, worshiping their dear leader and collaborating in the maintenance of his alternative reality.

Some of this might be strategic; everyone knows Trump is susceptible to flattery. But in many cases — certainly with Pence — it seems sincere. In a recent Atlantic profile of the vice president, McKay Coppins wrote that Pence’s faith mandates obedience to temporal as well as heavenly authority. When he accepted the vice-presidential nomination, Coppins wrote, “he believed he was committing to humbly submit to the will of Donald Trump.” From a secular perspective, Pence, like many other Republicans, appears to be a person inclined to authoritarianism.

Erich Fromm, a German-Jewish psychoanalyst who fled Nazism, described authoritarian personalities as simultaneously craving power and submission. “The authoritarian character loves those conditions that limit human freedom; he loves being submitted to fate,” he wrote. Fate, in his formulation, can be the laws of the market, the will of God, or the whims of a leader. According to Fromm, authoritarians might make a show of valuing freedom and independence — watchwords of the American right — but long to be ruled by a stronger force.

Viewed this way, it’s not surprising that religious conservatives have been among Trump’s most ardent fans. Certainly, it’s understandable that people on the right would try to get what they can out of this president. But the relationship between Trump and many Republicans increasingly looks less like a marriage of convenience than a sadomasochistic affair.

. . . .

It is, as they say, not normal for erstwhile law-and-order Republicans to attack the F.B.I. for being overzealous in its pursuit of Russian subversion. Nunes’s inquiry appears similar to Trump’s voter fraud commission, invented to substantiate right-wing fantasies about Democratic vote rigging. The point, in both cases, is to flesh out a lie rather than find the truth. Hannah Arendt once wrote of this sort of policy-as-disinformation: “Totalitarianism will not be satisfied to assert, in the face of contrary facts, that unemployment does not exist; it will abolish unemployment benefits as part of its propaganda.”

For the past year, a lot of us have assumed that Republicans are putting up with Trump out of fear of their base or lust for tax cuts. We’ve imagined that beneath our mutual partisan loathing lies some remaining shared commitment to liberal democracy. Maybe that’s true, and Republicans will display new independence once tax reform is signed, particularly if support for the president keeps dwindling.

But there’s another possibility, which is that a critical mass of Republicans like being in thrall to a man who seems strong enough to will his own reality, and bold enough to voice their atavistic hatreds. Maybe Trump is changing Republicans, or maybe he’s just giving men like Pence permission to be who they already were.”

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Read Michelle’s entire article, aptly named “Fifty Shade of Orange” at the above link. I’ll reluctantly go with “possibility two:” Trump is just giving GOP “closet bigots,” oligarchs, anarchists, racists, theocrats, and neo-Nazis permission publicly to be what they always were underneath. Not a happy thought, but at least we’ll know what we’re up against and why to date most so-called “establishment Republicans” who intend to remain in office have “gone along to get along.”

Remember, at the  end of the day, not a single GOP Senator was willing to vote against a fairly obvious “Tax Heist.”  That, plus all the “slavish submission” and repulsive flattery of “The Supreme Leader” this week tell you all you need to know about the “Heart and Soul” of the GOP. The country needs “regime change” before it’s too late!

PWS

12-22-17

“THIRD WORLD AMERICA” — GOP ON THE VERGE OF “DECONSTRUCTING” GOVERNMENT, PUBLIC SERVICES, HEALTH, & EDUCATION AT ALL LEVELS TO HAND OUT FAVORS TO THE RICH — PARTY OF “REVERSE ROBIN HOOD” ABOUT TO “SCORE A BIG ONE“ FOR THE ALREADY OVERPRIVILEGED AT THE EXPENSE OF EVERYONE ELSE! –“This tax bill is a grand deception,” said Arnold Hiatt, the former chief executive of Stride Rite, which makes children’s shoes. “It hurts the most vulnerable, and hurts health care and education, which are essential for a healthy economy.”

https://www.nytimes.com/2017/11/29/business/republican-tax-cut.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region®ion=top-news&WT.nav=top-news

“Economists and tax experts are overwhelmingly skeptical that the bills in the House and Senate can generate meaningful job growth and economic expansion. Many view the legislation not as a product of genuine deliberation, but as a transfer of wealth to corporations and affluent individuals — both generous purveyors of campaign contributions. By 2027, people making $40,000 to $50,000 would pay a combined $5.3 billion more in taxes, while the group earning $1 million or more would get a $5.8 billion cut, according to the Joint Committee on Taxation and the Congressional Budget Office.

“When you put all these pieces together, what you’re left with is we are squandering a giant sum of money,” said Edward D. Kleinbard, a former chief of staff at the Congressional Joint Committee on Taxation who teaches law at the University of Southern California. “It’s not aimed at growth. It is not aimed at the middle class. It is at every turn carefully engineered to deliver a kiss to the donor class.”

In a recent University of Chicago survey of 38 prominent economistsacross the ideological spectrum, only one said the proposed tax cuts would yield substantial economic growth. Unanimously, the economists said the tax cuts would add to the long-term federal debt burden, now estimated at more than $20 trillion.

If the package does have a guiding philosophy, it is a return to trickle-down economics, an enduring story line in which the wealthy are supposed to spend and invest their tax breaks, creating jobs and commercial opportunities for everyone else.

As President Ronald Reagan slashed taxes in the 1980s, he argued that citizens, not bureaucrats, should decide how to spend their money. President George W. Bush bestowed enormous tax cuts on the affluent.

But the trickle-down story has yet to achieve its promised happy ending. Only the beginning reliably transpires, the part where wealthy people get relief. The spoils of resulting economic growth have largely been monopolized by those with the highest incomes. Pay for most American workers has been stagnant since the mid-1970s, after the rising costs of housing, health care and other basics are factored in.

Nonetheless, Republicans are staging a trickle-down revival.

“Either it’s a religious belief, a belief where no amount of evidence would change that, or they are using the argument cynically and they just want more money for themselves,” the economist Joseph E. Stiglitz, a Nobel laureate, said.

Mr. Stiglitz has long warned of the perils of growing inequality while deriding tax-cutting inclinations. Yet even those who have favored lighter tax burdens are critical of the current proposals.

In the late 1970s, Bruce Bartlett developed what would become the locus of the Reagan tax cuts while working for Representative Jack Kemp, a conservative Republican from New York. Those cuts helped cushion the pain from sharp increases in interest rates by the Federal Reserve, Mr. Bartlett maintains. But Reagan was lowering the highest tax rate on individuals from 70 percent down to 28 percent by 1986.

“What they have here is a big tax cut for the rich paid for with random increases in taxes for various constituencies,” Mr. Bartlett said. “It’s ridiculous. And it’s telling that they are ramming this through without any debate. All of the empirical evidence goes against the tax cut.”

 

The meat of the package is a permanent lowering of the corporate tax rate, to 20 percent from 35 percent, which business leaders have long wanted. Proponents assert that this would prompt multinational companies to expand operations in the United States.

“We’ve been bleeding corporate headquarters and production for a long time,” said Douglas Holtz-Eakin, a former director of the Congressional Budget Office and now president of the American Action Forum, a nonprofit that promotes smaller government.

But recent history suggests that when corporations get tax relief, they find abundant uses for money that do not involve paying higher wages. They give dividends to shareholders and stock options to executives. They stash earnings in tax havens.

In 2004, Congress invited American corporations to bring home overseas earnings at a sharply reduced rate, pitching it as a means of bolstering investment. But the corporations spent as much as 90 percent of their windfall buying back their shares, according to Bureau of Economic Analysis research.

If Congress bestows fresh relief on major businesses, signs suggest a similar result. Many companies are enjoying record profits. Those in the Fortune 500 had $2.6 trillion salted away overseas as of last year.

“In our boardroom, the number-one thing we’re talking about is not taxes,” said Jeremy Stoppelman, chief executive of Yelp, the online review platform. “Having a strong middle class out there spending money is what’s most important for our business.”

If the tax bill widens inequality, local communities will likely find themselves with fewer resources to aim at helping struggling people.

A key feature of the Senate bill is the elimination of a federal deduction for state and local taxes. Conservative groups like the Heritage Foundation and American Legislative Exchange Council have sought to end the deduction as a means of reining in government spending.

In high-tax states like California, New York, New Jersey and Connecticut — where electorates have historically shown a willingness to finance ample safety-net programs — the measure could change the political calculus. It would magnify the costs to taxpayers, pressuring states to stay lean or risk the wrath of voters.

Some see in this tilt a reworking of basic principles that have prevailed in American life for generations.

. . . .

Since the 1930s, when President Franklin D. Roosevelt created Social Security, unemployment benefits and other pillars of the safety net to combat the Great Depression, crises have been tempered by some measure of government support. Recent decades have brought cuts to social services, but the impact of the current bill could be especially consequential.

“This is a repudiation of the social contract that Franklin Roosevelt announced at the New Deal,” Joseph J. Ellis, a Pulitzer Prize-winning American historian, said of trimming benefits for lower- and middle-income families to finance bigger rewards for the wealthy. Health coverage would shrink under the Republican plan while multimillion-dollar estates would not have to pay a penny in taxes.

The tax cut package, for instance, could trigger rules mandating cuts to Medicare, the government health care program for seniors, the Congressional Budget Office warned. Some 13 million people could lose health care via the elimination of a key plank of Obamacare. Insurance premiums are also expected to rise by 10 percent.

“This tax bill is a grand deception,” said Arnold Hiatt, the former chief executive of Stride Rite, which makes children’s shoes. “It hurts the most vulnerable, and hurts health care and education, which are essential for a healthy economy.”

The proposals break from seven decades’ worth of federal efforts to broaden access to higher education.

Since World War II, the guiding sense has been that “it is government’s responsibility to provide higher education for all those who can benefit from it,” said David Nasaw, a historian at the Graduate Center of the City University of New York. That idea was behind the G.I. Bill, which helped generations of veterans pay for college and training.

The House bill includes provisions that would end the deductibility of tuition waivers for graduate students and repeal the deduction for interest paid on student loans. Both chambers’ bills would tax investment earnings from university endowments.

The endowment tax, in particular, threatens the ability of low-income students to pursue college and graduate studies, said Ron Haskins, a senior fellow at the Brookings Institution. Proceeds from endowments subsidize students from lower-income families, while allowing students across the board to graduate with less debt.

“When the time of reckoning comes to fix huge deficits, social safety-net programs will be first on the chopping block,” Julian E. Zelizer, a professor of history and public affairs at Princeton University, said.

“It’s very far-reaching,” he added, “but there hasn’t been much of a debate.”

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Read the complete, revealing but disturbing, article at the link. We’re ultimately going to look more like a (at least temporarily) well-to-do “Banana Republic” with the rich on top and in power; everyone else scrambling; lots of excess guns and ammo; and a lower standard of living for average folks to support the privileged power class. And, the GOP has managed to pull all of this off at the ballot box and without any true debate or public accounting, relying on the overall inability of the electorate to figure out that they are being fleeced by their own representatives. Pretty impressive!

PWS

11-30-17

PAUL KRUGMAN IN THE NYT: GOP IRATE AT BEING CALLED OUR ON ITS BIG TIME TAX LIES! – The “Anti-Robin –Hood” Party Is In Full Attack Mode! – Screw Everyone Else To Hand Out More Bennies To The Super Rich!

https://www.nytimes.com/2017/11/20/opinion/lies-incoherence-and-rage-on-tax-cuts.html

Krugman writes:

“One thing you can count on in 21st-century U.S. politics is that Republicans will lie about taxes. They did it under George W. Bush, they did it under Barack Obama and they’re still doing it under Donald Trump.

Yet this time is different. It’s not just that the lies have gotten even more brazen. There’s now a combination of incoherence and rage that we, or at least I, haven’t seen before. These days, they can’t even seem to get their fake story straight — and they literally start yelling obscenities when someone tries to point out the facts.

G.O.P. lies about taxes generally involve two issues: who is hurt or helped by tax changes, and what these changes will do to the budget.

Thus, when George W. Bush cut taxes in 2001 and 2003, he and his party repeatedly insisted that the tax cuts were primarily for the middle class. In fact, while there were some middle-class tax breaks in the package, such as an increase in the child tax credit, these were dwarfed by cuts in tax rates on high incomes, reduced taxes on dividends and repeal of the estate tax. Over all, the richest 1 percent saw a much larger increase in after-tax income than middle-class families did.

At the same time, the Bush administration used a series of gimmicks to hide the true fiscal cost of the plan, such as delaying the implementation of some tax cuts while pretending that others would expire when the actual intention was to make them permanent.

When Obama took office, these tricks were simply flipped on their head. Republicans insisted, falsely, that Obama had imposed a “massive tax increase” on the middle class; in fact, for the most part he actually cut middle-class taxes. Meanwhile, they insisted that the surge in the budget deficit caused by the aftermath of the 2008 financial crisis was permanent, and ridiculed the Obama administration’s claims that deficits would fall sharply once crisis spending ended and tax receipts recovered; in fact, that’s exactly what happened.

So what’s different this time? As in the Bush years, Republicans are claiming to be offering a middle-class tax cut. But where Bush truly was cutting taxes on the middle class, just much less than he was on the wealthy, current Republican plans would raise those taxes on many lower- and middle-income families, even as they go down for the wealthy. (Steven Mnuchin, the Treasury secretary, claims that only “million-dollar earners”would see tax increases. This is the opposite of the truth.

Oh, and a memo to journalists: If you play it safe by reporting this as “Democrats say” that middle-class taxes will go up, you’re misleading your readers: Those estimates come from the Joint Committee on Taxation, Congress’s own nonpartisan scorekeeper.

How can Republicans like Paul Ryan, the speaker of the House, pretend to be helping the middle class? It depends crucially on a new kind of budget gimmick: Both the House and Senate tax-cut bills do contain some middle-class tax breaks — but only for the first few years. Then they expire.

Take one of Ryan’s favorite examples, a family with two children and earning $59,000 a year. That family would indeed get a tax break next year. But the break would rapidly dwindle and turn into a tax increase by 2024.

The Republican response is to claim that these tax breaks wouldn’t really expire, that Congress would eventually renew them. That’s quite doubtful — and even if true, it means that the tax plans would add much more to the national debt than the G.O.P. admits. Which brings me to the whole budget deficit issue.

Not long ago, leading Republicans claimed to be deeply concerned about budget deficits. Only fools and centrists took the Republicans seriously. Still, the abrupt shift to nonchalance about adding trillions to the debt in order to cut taxes on corporations and the wealthy is causing a bit of whiplash even among cynics. How do they justify the shift?

Well, they don’t seem to have settled on a story. Mnuchin keeps asserting that tax cuts will pay for themselves, going so far as to claim (falsely) that Treasury has released a study showing this. Mick Mulvaney, the budget director, cheerfully acknowledges that they’re using gimmicks to pass a bill that permanently cuts taxes on corporations, and not to worry. Whatever works, it seems.

So we’re really looking at an unprecedented level of dishonesty here. But what happens when you try to explain what’s going on? When Senator Sherrod Brown tried to point out, correctly, that the Senate G.O.P.’s tax bill heavily favors the rich, Senator Orrin Hatch exploded, calling it “bull crap” and asserting that he grew up poor (which is relevant why, exactly?).

Sorry, but this isn’t the righteous anger of a man falsely accused of wrongdoing. It’s the rage con men always exhibit when caught out in their con.

But what’s the con about? The very incoherence of the arguments Republicans are making for their plans shows that it’s not about helping the economy, let alone ordinary families. It really is about making the rich richer, at everyone else’s expense. If this be bull crap, make the most of it.”

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As usual, the GOP counts heavily on voters being too biased or gullible to figure out that they are being fleeced. And, to date, they have been correct. So, why stop a “winning strategy” even if it is based on lies, demonstrably bogus assumptions, and other “cons?”

PWS

11-21-17

POLITICS: TRUMP BUDGET: Help The Rich, Stone The Poor!

The NY Times reports:
“WASHINGTON — President Trump plans to unveil on Tuesday a $4.1 trillion budget for 2018 that would cut deeply into programs for the poor, from health care and food stamps to student loans and disability payments, laying out an austere vision for reordering the nation’s priorities.

The document, grandly titled “A New Foundation for American Greatness,” encapsulates much of the “America first” message that powered Mr. Trump’s campaign. It calls for an increase in military spending of 10 percent and spending more than $2.6 billion for border security — including $1.6 billion to begin work on a wall on the border with Mexico — as well as huge tax reductions and an improbable promise of 3 percent economic growth.

The wildly optimistic projections balance Mr. Trump’s budget, at least on paper, even though the proposal makes no changes to Social Security’s retirement program or Medicare, the two largest drivers of the nation’s debt.

To compensate, the package contains deep cuts in entitlement programs that would hit hardest many of the economically strained voters who propelled the president into office. Over the next decade, it calls for slashing more than $800 billion from Medicaid, the federal health program for the poor, while slicing $192 billion from nutritional assistance and $272 billion over all from welfare programs. And domestic programs outside of military and homeland security whose budgets are determined annually by Congress would also take a hit, their funding falling by $57 billion, or 10.6 percent.

The plan would cut by more than $72 billion the disability benefits upon which millions of Americans rely. It would eliminate loan programs that subsidize college education for the poor and those who take jobs in government or nonprofit organizations.

Mr. Trump’s advisers portrayed the steep reductions as necessary to balance the nation’s budget while sparing taxpayers from shouldering the burden of programs that do not work well.

“This is, I think, the first time in a long time that an administration has written a budget through the eyes of the people who are actually paying the taxes,” said Mick Mulvaney, Mr. Trump’s budget director.
Document: Read Trump’s 2018 Budget
“We’re not going to measure our success by how much money we spend, but by how many people we actually help,” Mr. Mulvaney said as he outlined the proposal at the White House on Monday before its formal presentation on Tuesday to Congress.

Among its innovations: Mr. Trump proposes saving $40 billion over a decade by barring undocumented immigrants from collecting the child and dependent care tax credit. He has also requested $19 billion over 10 years for a new program, spearheaded by his daughter and senior adviser Ivanka Trump, to provide six weeks of paid leave to new parents. The budget also includes a broad prohibition against money for entities that provide abortions, including Planned Parenthood, blocking them from receiving any federal health funding.”

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PWS

05-23-17