Taxes

By Dave Lindorff

Attorneys General from 13 states--all of them Republicans--are saying that they are going to sue to block the health insurance reform bill if, when it is finally passed, it still includes a measure giving Nebraska an extra $100 million in Medicaid funds. They charge that this “bribe” was used to get Nebraska’s conservative Democratic Senator Ben Nelson to join fellow Democrats to get the Senate’s version of the bill passed.

As imagined by Dave Lindorff

My Fellow Americans.

I stand before you a chastened president. I made a mistake. Two mistakes really. (wild applause from Republican side)

I thought that Congress could do its job and through the
deliberative process, produce a health care reform plan that would win
broad support across the aisle and among all of you. But I’m afraid
that I was wrong. Health care is an enormous industry—maybe the biggest
and most powerful industry in the country—and it has far too much power
in Washington. Literally thousands of lobbyists, carrying tens of
billions of dollars in campaign contributions—have invaded these halls (and my house!) (relieved laughter)
and distorted the process, and in the end have stymied reform. (some hissing)

Meanwhile, I have realized that the answer has been staring us in the face all along.

By Dave Lindorff

As you’re mailing out that tax return again this year, it’s time to
remember once again how much of your hard-earned bucks are being devoted to destruction, imperialist domination, slaughter and
war, to funding ridiculous programs like the failed anti-missile
system, and also to supporting a massively bureaucratic and overstaffed
military.

Even with the current US budget predicted to hit a record $3.5
trillion, thanks to a whopping $800 billion, two-year economic stimulus
package, and with several hundred billion being poured into a group of
banks and the bottomless pit called AIG, the $800 billion budgeted for the military to date
(a figure that includes an $85 billion “supplemental” request for the
wars in Iraq and Afghanistan) represents 22% of total US spending.

On MSNBC's Morning Joe, CNBC's Maria Bartiromo lied about tax increases for small business, and MediaMatters busted her:

small businesses, you know, are putting $250,000 in revenue out there, and they're going to get impacted -- and this is the single largest creator of jobs.

So Bartiromo says small business taxes will be raised if the business grosses over $250,000 in revenue. But that's a lie.

First, a small business that is not a personal business is taxed at corporate tax rates, which will not change under Obama's plan.

Second, a small business that is a personal business will only see higher taxes on the profit (i.e. personal income) that exceeds $250,000, not the gross revenue.

By Dave Lindorff

Critics of government get all worked up when Washington spends money
stupidly, or does something manifestly stupid. There was a even senator
from Wisconsin, William Proxmire, who used to hand out "Golden Fleece"
awards for such things.

The Pentagon's notorious $600 payments for toilet seats that were
$12 in local discount stores, or $434 paments for hammers that were $10
in the local hardware store were good examples of this.

But nobody seems to be screaming about the incredibly wasteful
rescue of AIG, on which the government has spent first $85 billion and
now another $37.5 billion.

by Dave Lindorff

When the financial markets started coming undone earlier this week,
the Treasury Secretary and the Federal Reserve stepped in, and with $85
billion of our money (actually our children's money,
since they borrowed it from China and Saudi Arabia), bought foundering
AIG, the world's largest insurance company, and assumed its colossal
pile of crap debt.

That didn't help, and the stock market crashed further, falling to
levels not seen in three years. Banks, meanwhile, stopped lending,
figuring to just hold onto their money and try to weather the crash.
The US Treasury and the Fed stepped in again, this time pumping nearly
$300 billion more of our money into foreign money markets, and getting
European and other governments to do the same in an effort to get the
credit markets open again and to stop the stock market swoon. That was
on top of some $700 billion already spent on bailouts.

By Dave Lindorff

I haven’t lived in rural Pennsylvania or in rural Indiana, but I have lived in rural upstate New York, in towns where there are so few Democrats that on some local election ballots, not a single position, from town council to justice of the peace, has a contest. As in China, your option is to vote for the Republican candidate, or to leave that line blank.

And many of the people in these towns, uniformly white, when they talk politics, spend a lot of their time complaining about black people, immigrants (neither of whom can even be found in the vicinity) and the threat to their guns.

Barack Obama is exactly right.

By Dave Lindorff

With a viral campaign underway via email, right-wing radio, and on the street suggesting that Barack Obama is a black “Manchurian Candidate,” secretly trained as a Muslim fanatic who will insinuate himself into the White House, thence to undermine all that we hold dear, perhaps it is time to look at the Manchurian Candidate we already have in the White House, who, together with his handler over in Blair House, has pretty much done all the damage already.

George Bush came to office in 2001 promising a new era of integrity, civility and “compassionate conservatism,” an era of humble American foreign policy, and a bi-partisan approach to government.

What did we actually get?

By Dave Lindorff

When you hear a number like $100 billion (the amount Bush is proposing to give back to people in the form of tax rebates, at about $800 per adult family member) or $145 billion (that $100 billion, plus another $45 billion in business tax breaks—mostly accelerated deductions for capital investment) bounced around, it sounds like a lot of dough, and you might think it would be a good shot in the arm for an economy that is falling into a dead faint.

But let’s think about it on a micro level.

What would my wife and I do with an extra $1600?

Well, to be honest, that’s not quite one month’s mortgage payment.