Our country has become a welfare state for the rich. Corporate welfare. More tax cuts for the rich. More taxpayers supporting the wild and crazy swaps market. We continue to give them more and more money.
From Robert Reich:
In Washington’s coming budget battles, sacred cows like the tax deductions for home mortgage interest and charitable donations are likely to be on the table along with potential cuts to Social Security and Medicare.
But no one on Capitol Hill believes Wall Street’s beloved carried-interest tax loophole will be touched.
Don’t blame the newly elected Republican Congress.
Democrats didn’t repeal the loophole when they ran both houses of Congress from January 2009 to January 2011. And the reason they didn’t has a direct bearing on the future of the party.
First, let me explain why this loophole is the most flagrant of all giveaways to the super-rich.
Continue reading More corporate welfare
If you want to know how truly bad the job market is I have a recent example for you. A couple of days ago, I posted on a popular IT blog that I needed a little help. It was nothing big. It was nothing that was going to pay a lot of money. Just needed some help. Over the next 48 hours I received over 100 responses. I received responses from all over the world. There were plenty of responses from right here in the United States. Here’s a typical response:
My name is Joe Blow (not his real name), WordPress Specialist, and I have been a WordPress developer for 10 years now, as soon as WordPress was introduced. In my over career, I have worked as Senior Developer at a leading Internet Marketing company, SEO Specialist in a Search Engine Marketing company and currently, I’m running my own company. Continue reading Job market
I don’t know about you, but I’m sure tired of Larry Summers. He decided, along with Alan Greenspan and Robert Ruben, that we did not need to regulate derivatives. As a matter fact, he went so far as to make sure that Congress passed a law which would prohibit the regulation of derivatives. Derivatives were the exact weapons of mass destruction that killed the world economy in 2007/2008. Nope, we don’t need any more of Larry Summers. I have no idea who should be Fed Chair, but it can’t be and shouldn’t be Larry Summers. President Obama, just say NO!!!
In the history of the United States, there are very few companies that change because it’s the right thing to do. Looking back over the last century or so, we find that companies begin to pay workers more because they are pressured into it. I like the fact that fast food workers are trying to pressure their employers to pay them more money. They’re not making a living wage.
SNAP benefits are going to be cut. This is not good.
Continue reading News Update – Larry Summers, Fast Food Strike, SNAP Benefits