25 August 2011
Koch Responds To Buffett: ‘My Business And Non-Profit Investments Are Much More Beneficial To Society'
America’s current tax system forces people making $50,000 a year to pay a higher rate than hedge fund managers making $2.4 million an hour. Warren Buffett penned an op-ed last week declaring that America’s super-rich have been “coddled long enough by a billionaire-friendly Congress.”
By way of counterpoint and context, there's Moon of Alabama's post linked below, with some cold water regarding Warren Buffet's alleged awesomeness. The devil's in the details, as is usually the case.
M of A - Buffet Is Lying On "Future Promises"
It would make sense, and save a lot of problems, if the U.S. would tax capital gains at the same rate as income form a regular job...
Two from Raw Story:
1. "Ron Paul suggests spending cuts could lead to riots"
Republican presidential candidate Ron Paul wants to make deep cuts to spending and entitlements, but he’s worried there might be European-style riots in the U.S. if he gets his way. “I see the anger building and problems getting worse,” Paul told Fox Business Network’s Lou Dobbs Wednesday.
Ron Paul is a problematic figure for me. He generally comes down on the correct side with respect to civil liberties matters and his critique of the security state, as well as regarding our extensive network of military bases all over the world. But Paul and his son are pretty eager to tear down the social safety net, even as they have both made a lot of dough from collecting medicaid payments in their medical practices. Above all, do no harm. Or not.
2. John Dean rips Cheney’s memoir: It displays his ‘authoritarian personality’
Then and now, MLK and Malcolm X; I have a feeling Rob Payne and Duncan Mitchel were unaware of each other's similarly themed essays, both worthwhile, illustrating a similar theme drawn from different material:
Rob Payne: Forgetting MLK, "We cherry pick the past in order to cherry pick the present"
Duncan Mitchel:"He Who Controls the Past Controls the Future"
Dave Anderson, "Austerity kills"
Rachel Tabachnick, Talk2Action, "What is it About Uganda? Bachmann Campaign Faith-Based Organizer Arrested There in 2006"
(via Jay Taber, "Christian Dominion")
The Onion, "Report: At This Point, Most Americans Feel More Comfortable In Dying Economy" August 23, 2011 | ISSUE 47•34
"You get used to sending 50 resumés into the void each day and having them all go unanswered," said Mary-Lee Jones, 46, of Cleveland, who later called the enduring unlikelihood of ever finding employment "her rock." "The emotional trauma of not knowing if or when I'll work again has just become a regular part of my life. Honestly, not living on the knife's edge of poverty might make me a little anxious."
The report also found that many take comfort in the dependable stream of ominous fiscal predictions in the media, particularly in seeing, on a regular basis, the weary face of Federal Reserve Chairman Ben Bernanke on the cover of major newspapers, accompanied by giant bold letters announcing the dollar's latest slide.
"Even if the economy did start to make a miraculous recovery, all that would happen is I'd get my hopes up and then, boom, it would collapse again like it always does"...