by Jared Bernstein, Sun Jun 18, 2006 at 08:40:24 AM EDT
This past week, much to everyone's surprise, Democrats in the House of Representatives managed to slip a proposal to increase the minimum wage into a bill funding the Departments of Labor and Health and Human Services.
Faced with the specter of having to vote against increasing the wage floor from its current embarrassing level of $5.15 to $7.25 by Jan. 1, 2009, Congressional Republicans snapped into action and pulled the bill.
This is what these brave souls do in election season when they don't want to have to go back to their districts and answer questions as to why it's ok to cut hundreds of billions in rich people's taxes but deny the working poor a boost.
Well, I say: "Not so fast, guys. Let's chat about this for a few minutes."
Not let me get this straight. Last month, you passed $70 billion worth of new tax cuts, mostly by extending earlier Bush cuts on dividends and capital gains. When tax cuts target investment income, the benefits flow to the wealthy, and these cuts are exhibit A: they reduce millionaire's tax payments by $43,000, and those of middle-income families by $20. Sorry, that's not a typo. It's what you get when you put the YOYOs in charge of fiscal policy.
Wait a second, where you going? I'm not done. Set a spell...
by BL Angert, Wed May 03, 2006 at 07:47:38 PM EDT
CNBC Photograph, Washington Post
Tonight Louis Rukeyser, a bestselling author, columnist, lecturer, and television host of Wall Street Weekpassed. I heard the news of his demise on The News Hour, a Public Broadcasting program, as was Rukeyser's long-running show. I came in late in the program and knew nothing of the upcoming report. I wondered why Jim Lehrer was introducing film clips of Wall Street Week with Mr. Rukeyser. I feared the worst and hoped for much better.
After the snippets were shown, Mr. Lehrer announce the beloved man had passed at the age of seventy-three. My first thought was "No." My second was, "How young he was!" Then I wondered "Why?" I recalled when his father met his maker and reflected on how close the two were. I knew this because I began watching Wall Street Week in 1970, the year it first aired. I continued to view this program until it ended in 2002.
by BL Angert, Tue Apr 18, 2006 at 05:29:17 PM EDT
All the talk of Catastrophe Funds seems silly to me; the reasoning is apt. I think there are better sources for these subsidies than the government. In my mind, our efforts are misplaced.
It is true; we as a nation and as a world have seen an increase in the number and intensity of cataclysmic storms. Tornados, droughts, hurricanes and other recent disasters have caused great calamity. We are mired in misfortune. However, we are working to pay for what we caused. We are closing the barn door behind us; our prides and joys are all long gone. We now, belatedly, prepare for what was our own ignorance. We elected George W. Bush, twice.
by BL Angert, Mon Apr 03, 2006 at 09:34:51 AM EDT
The essence of this prologue, while subtlety mentioned in the content, needs to be specified in the foreword. I was reminded of this by a glorious woman from China, A, who commented below. [See Be-Think.typepad.com] She helped me to acknowledge what I truly believe and deeply know. Anyone that feels forced to think, say, do, feel, or be as another deems best, may follow the lead; however, ultimately, they will resent, rebel, and reject their own choices. This preface may be an example of this.
May I clarify and expand this expose´ by saying . . .We all, worldwide, must be free to choose.