“In recent weeks, federal agencies across the vast Washington bureaucracy have delayed completion of a range of proposed regulations from food safety and the environment to corporate governance and telecommunications policy until after Election Day, when regulatory action may be more politically palatable.” Apparently, the Bushies have prepared an onslaught of awful legislation that they’re hiding from us until November 3. While this tends to happen every to some extent every election year, notes Consumers Union director Gene Kimmelman, “‘[w]hat is unusual this time…is the clear pattern of holding back regulatory decisions that will benefit the largest industry players and will drive up prices and market place risks for consumers, ranging from telephones to drugs to the risks of contaminants of food. The pattern of slow rolling will ultimately benefit the largest players and hit consumers in the pocketbook.'” Oh, swell.
Category: Corporate Welfare
The Green Party.
Of course, there are some New Yorkers happy to see the GOP here, namely the finance types. “[T]he firms, which lean Republican in their political giving, are eager to show their gratitude to President Bush and GOP lawmakers for enacting legislation providing billions of dollars in tax and other benefits to their industry and for Bush’s pledge to seek even deeper tax cuts.” Yeah, I bet they are. Well, at least the GOP does in fact support their corporate “values”…In fact, Wall Street may be one of the few groups of self-professed Republicans around the country that aren’t being lied to constantly by the Bushies.
The A-Rod Write-Off.
Well, thank goodness the GOP Congress has finally done something to alleviate the financial burden of sports team ownership in this country. When I think of all the pain, misery, and degradation that Mark Cuban, George Steinbrenner, and other multi-millionaires have been subjected to by the tax code of late, my heart just sickens. Now hopefully Congress will turn their attention to eliminating the IRS entirely, and I’ll be able to sleep knowing that no corporate CEO or energy baron will ever again be unduly harrassed in this great nation.
The Art of the Kickback.
Meanwhile, Dubya has less to say about a sweetheart corporate tax package being pushed through Congress by the GOP, one that offers ridiculous handouts to various Republican-leaning business special interests. “[W]hat started as an effort to repeal a $5 billion-a-year subsidy has grown into one of the most significant corporate tax measures in years. The Senate bill, 980 pages long, includes more than $167 billion in business tax cuts over 10 years, handing out favors to NASCAR racetracks, foreign dog-race gamblers, Oldsmobile dealers and bow-and-arrow makers, to name a few.” Hmmm…might be time to invest in bow-and-arrow futures. Update: The bill passes the House.
The Puppet President.
There are conservatives and there are conservatives. Is Dubya a free market Friedmanite? Nope, just a stooge for business.
Powell Checked.
By a 55-to-40 vote, the Senate overturns Powell’s media ownership rules. Even if the Senate vote goes nowhere (and between the contentious House and a Dubya veto, that’s pretty likely), this should hopefully awaken Michael Powell to the fact that there is significant bipartisan resistance to his agenda of carte blanche deregulation. Instead of freeing the Big Boys from any entangling agreements, perhaps Powell should work on making them honor the agreements they’ve already made – namely, HDTV roll-out and public interest requirements. This isn’t about big government, it’s about getting our money’s worth. Since we’ve given the networks use of bandwidth valued at $70 billion, we have every right to expect something in return.
Summoning the Spirit of Enron.
After a week of considerable coverage for Dean (due to his second-quarter funding success), John Edwards tries to get back in the game by unveiling his corporate accountability plan. As usual, I think Edwards is playing this smart. The issue shores up his Populist creds while drawing attention to an area where Dubya is dismal. And Edwards still holds a trump card, in that he is the only top-tier candidate with an answer to the Dem’s Southern problem. It’d be nice to see Edwards, Dean, and Kerry go head-to-head-to-head in a real debate, but first the field still needs to be culled, of course.
When you give a banquet, invite the poor (Luke 14:13)
“I have to ask though, why do Republicans hate the word of God?,” queries Mega of Triptych Cryptic as he points the way to some biblical passages apparently not included in Dubya’s daily bible study. Not on this list but equally valid in appraising the Bushies’ selective Christianity: “It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God.” (Matthew 19:24, Mark 10:25, Luke 18:25) Now there’s one you don’t hear very often from the likes of The 700 Club.
When the Sun Never Sets.
“The Rove-Bush goal is to return government to its size before the New Deal, leaving the individual more exposed to corporate power than at any other time since the 1920s.” Jack Beatty of The Atlantic Monthly examines Rove’s long-term strategy for the Dubya tax cut, and how it’s cleverly designed to help the GOP in 2004 and 2008. Grim stuff. In a related story, Michael Kinsley offers his take on the dividend debacle: “The recently enacted tax bill is such a shocking and brazen gift for the wealthy that it is hard to describe in anything short of…cartoon-Marxist terms.”
A Return to Fiscal Sanity?
He’s been a cheerleader for Dubya’s policies in the past, but even Alan Greenspan has his limits. Much to the delight of Dems, the Federal Reserve Chairman now says the proposed Bush tax cuts are potentially disastrous in light of exploding budget deficits. Hopefully, this means the beginning of the end of Dubya’s outrageous dividend plan.