Category: Inequality

Grey Poupon Economics.

Conceding defeat on the full dividend debacle (while still planning evasive maneuvers to make sure it’s as large as possible), the Congressional GOP now shift their focus to another Republican shibboleth: a capital gains cut. One way or another, it seems, the GOP are hell-bent on ensuring that the wealthiest Americans catch some kind of break from the Dubya dip.

A New Enemy.

Toning down on the Syria talk, the Bushies instead decide to invoke their post-Iraq mojo to launch a sneak attack on the economy, vis a vis the now phased-in Dubya Dividend Debacle. It’s not conservative to give out tax handouts to the rich during a time of exploding deficits, y’all. It’s radical.

Taxing Times.

Despite the administration’s attempt to use the war to promote tax cuts, the Senate does the right thing and slashes Dubya’s tax giveaway in half. As I said last week, it’s almost obscene to even consider this type of deficit-busting sop for the rich when America’s fighting men and women are laying their lives on the line. In times of war, even (gasp!) the affluent must bear their share of sacrifice.

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.

Get Your War On.

We’re clearly going to war, we’re giving all the old folks prescription drugs, we’re eliminating AIDS in Africa, and American taxpayers won’t have to pay a red cent. Anybody notice a problem? Dubya’s State of the Union promised a lot, including dividend goodies for the rich and flaming death to Saddam, but it didn’t say much about the actual State of the Union. At any rate, I was impressed with the AIDS initiative (although I’d be more impressed if he wasn’t getting advice from cranks like these), but otherwise didn’t think much of Dubya’s speech. I also doubt he changed anyone’s mind about the Iraq situation, but perhaps Secretary Powell’s speech next week will prove more fruitful. (Thacker link via Julian’s Jabberings.)

Ailing Body Politic.

As the GOP Senate flexes its newfound muscle and slashes a number of domestic programs, President Clinton emerges to assail Dubya’s health policies. Keep it up, Republicans, and watch Dubya’s numbers founder.

Biting that Hand that Fed You.

Dubya comes out against affirmative action in Michigan. Ummm…how does he think he got into Yale? Or got into Harvard Business School after a thoroughly mediocre performance as an Eli? Easy…affirmative action for the rich, which in my own experience brought easily the most unqualified students to the Ivies. If he wants to stop unfair admissions practices, perhaps he should start with the man in the mirror. (On another note, this seems like a really dumb move by the usually smart Dubya White House. Why come out against affirmative action so quickly after the Lott fiasco? Bad call by the politicos.)

Three hundred a vote.

The Dems release their own economic stimulus plan to counter Dubya’s dividend debacle. Not bad…definitely better than the Bush fiasco. But why not a payroll tax reduction, and what is up with these $300 tax rebates? I’m sorry, but in this day and age, particularly with credit cards so easy to obtain and abuse, $300 is not going to change anyone’s financial straits. Instead of making tough decisions or wise policies about what to do with taxpayer money, legislators are handing it back to us in meager amounts in what basically amounts as a voting bribe. Simply put, it’s an evasion of responsibility and a waste of time. Cut payroll taxes, restructure the rolls, do something…but don’t just keep handing out rebates. C’mon, Dems, you can do better. (Although, I must say it again, this still sounds like a much better plan than Dubya’s.)

True Colors Shining Through.


As we embark on war in the Middle East and the states grapple with their worst fiscal crises in a generation, Dubya moves once again to protect the wealthy by eliminating taxes on dividends, despite the minimal effect it’ll have on economic growth. Typical. I’ve wondered aloud (10/12) about the double taxation on business profits before, but that was in better times, before Dubya blew out the economy with his deficit-exploding tax plan of 2001. (Speaking of which, thanks for the 300 bucks. It changed my life.) Given our dire economic situation and wartime footing now, it’s almost criminal to eliminate dividend taxes to aid stockholders, particularly when high payroll taxes continue to consume the balance of working Americans’ paychecks. (Of course, Dubya plans to pay for all this by freezing all domestic spending except homeland security.) Absolutely ridiculous…How out of it can you be? What will this plan do for the millions of Americans who don’t play the stock market? Are they suppose to pay for the war in Iraq while the wealthiest Americans watch their bank accounts grow? I swear the Monopoly guy must be taking meetings with Karl Rove somewhere in the West Wing.