About four or so months I attended a progressive town hall meeting hosted by my Rep. Eddie B. Johnson, with Rep. Barbara Lee from California. An old-aged attendent asked about the healthcare ruling (this was about two weeks before the final ruling) and Rep. Johnson answered, but I don’t remember the question or answer. That’s not important. What’s important is what happened afterwards.
The next attendant, a middle aged woman, assumedly Rep. Johnson’s supporter, asked what difference is the Obamacare tax mandate from other programs like Social Security. Both are “mandatory” she says, why aren’t the other programs, Social Security specifically, being challenged. How are they in law, she asked in confusion. After Rep. Johnson gave her an “answer,” (to be fair, she said we’ll see if it’s constitutional when the court rules) I whispered to her about FDR’s “court packing” controversy in the 40′s and how America copied the same socialist countries policies whom we had tension with. Read more
Who likes paying taxes? I write as committed liberal social democrat and Obama supporter. I care about humanity, and I have devoted my writing and volunteering life to advocating on behalf of the poor, the disenfranchised, the marginalized and all peripheral peoples—wherever I find them. But who likes paying into a ponzi scheme—which is what our tax system is all about? May Bernard Madoff rest in peace when he finally dies in prison. I mean, really. And let us not beguile ourselves into thinking our tax conundrums are the exclusive shenanigans of liberals or conservatives. Both are guilty of the moral and political infelicities associated with a system that is in need of radical reform. Read more
Last night’s Tea Party Debate in Florida unfolded largely as a fight to strip Texas Governor Rick P Read more
This week was busy from the perspective of presidential politics. Read more
This week, AT&T announced its plans to buy their competitor T-Mobile. Now it's up to regulators to approve the merger. Read more
Where the Money Isn’t
Making Sense, by Michael Reagan
Willie Sutton is wrongly believed to have said he robbed banks because “that’s where the money is.” He never said that, and anybody who says it now would also be wrong.
A bank’s principal function is twofold -- to be a depository for their customers’ money and to make profits by lending money and charging interest on the loans. Read more