“Repealing capital gains tax would give King County’s uber wealthy a huge, unnecessary tax break,” explains Washington State Budget & Policy Center senior fellow Andy Nicholas.
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Bernie Sanders lost his fight to be president. But now he’s written a budget that could secure his legacy.
“Sanders, just weeks from his eightieth birthday, is on the cusp of leaving an indelible mark on the federal government, having shepherded a $3.5 trillion spending blueprint through the Senate this week,” The Washington Post’s Mike DeBonis reports.
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Unsurprise: Fifty years of tax cuts for the rich failed to trickle down, economics study says
A new paper from the London School of Economics reinforces what progressive activists and economists already know: Trickle down doesn’t. Tax cuts for the wealthy do not create jobs. In fact, they result in greater wealth hoarding and income inequality. It’s time to require the wealthy to pay their fair share in dues to our world community.
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Trump regime: Americans on Social Security will have to file a simple tax return to receive a $1,200 check
“Many lawmakers and advocates for the poor say filing a tax return shouldn’t be necessary for people on Social Security since the government already knows how to send this population monthly checks. The $2.2 trillion aid package said that if someone has not filed a 2019 or 2018 tax return, the U.S. Treasury should get their information from Social Security, if applicable,” The Washington Post reports.
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Robert Kuttner: We need a WWII-size mobilization to stop COVID-19 from destroying the economy
“The need for a Green New Deal can rendezvous with the imperative of anti-depression public investment. Much of this sweeping proposal is on the drawing boards and has not been done for lack of funding. Some of it will take some advance planning. The time to start is now.”
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‘It’s gonna kill this community’: Seattle Times covers right wing governor’s war on Alaska’s public services
Imagine if Tim Eyman became governor and began taking an axe to Washington’s public services. That’s what is happening in Alaska, where right wing extremist Mike Dunleavy is using his line item veto power to force through a 41% cut to the University of Alaska system, plus gut Medicaid, behavioral health, and the Alaska State Ferry system.
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Most millionaires support tax on wealth above $50 million, CNBC survey finds
“Fully 60% of millionaires support Warren’s plan for taxing the wealth of those who have more than $50 million in assets,” CNBC reports.
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Individual Number 1 threatens Pelosi and Schumer with government shutdown: “I will be the one to shut it down. I’m not going to blame you for it.”
Nancy Pelosi and Chuck Schumer met with Donald Trump at the White House and got exactly what they came for.
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Trump threatens another federal government shutdown if he doesn’t get his stupid wall, rattling Republicans
“We’re going to have a challenging midterm anyway, and I don’t see how putting the attention on shutting down the government when you control the government is going to help you.”
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Larry Kudlow may have been more wrong about the economy than anyone alive
The Washington Post’s Dana Milbank finally trains his ire on a deserving figure for once.
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I’m a Depression historian. The Republican tax scam is straight out of 1929.
“Republican policies in the ’20s instead pushed to concentrate more of the income at the top. Nine decades later, Republicans are rushing to do it again — and they are sprinting toward an economic cliff. Another round of Government of the People, by the Republicans, for the super-rich will be catastrophic. The American people must call a halt before it’s too late,” writes Robert S. McElvaine.
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Congress can give every American a pony (if it breeds enough ponies)
Professor Stephanie Kelton, who teaches public policy and economics at SUNY Stony Brook, has written the op-ed of the year, explaining how U.S. fiscal policy really works.
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B.C. government raising taxes for high earners and corporations to help pay for $51.9B balanced budget
“B.C.’s new. government will spend $51.9 billion for this fiscal year to support the NDP’S stated goal of making the province more affordable for residents,” the Canadian Broadcasting Corporation reports. The budget will be balanced through increases in the corporate income tax, personal income tax (for wealthy families), and pollution tax.
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Irritated by his own party, Trump makes deal with Democrats to keep government open
This is arguably the first real “deal” Donald Trump has made as President. It comes more than seven months after his regime came into power.
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Pramila Jayapal blasts immoral cuts in front of Trump budget director Mick Mulvaney
Congresswoman Pramila Jayapal questioned Budget Director Mick Mulvaney about Trump’s new budget proposal during the House Budget Committee hearing today. Watch the video and read the transcript.
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Where anti-tax fervor means ‘all services will cease’
Southwestern Oregon’s public services are rotting away or shutting down due to voter unwillingness to pay dues to keep them running. The New York Times looks at the collapse of the commons in an often-ignored area of the Pacific Northwest.
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Jimmy Kimmel rips Trump’s budget proposal, mocks his plans to gut funding for PBS
https://www.youtube.com/watch?v=ZWebDbGtQI4 From ABC’s Jimmy Kimmel Live: “Trump released a proposed budget that would cut funding for PBS, Meals on Wheels, and The National Endowment for
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Watch Pramila Jayapal and Suzan DelBene denounce Trumpcare bill in the House Budget Committee
U.S. Representatives Suzan DelBene and Pramila Jayapal have been forcefully speaking out against the House Republicans’ extremely destructive Trumpcare bill as it has speedily made
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Read Governor Inslee’s second inaugural address
“At a time when Washington’s towns and cities were just specks on a map, our state’s founders chose education as our paramount duty. Not roads or railroads. Not jails. They chose schools. So should we,” the Governor declared.
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City of Seattle dumps Wells Fargo over DAPL
On Monday, the Seattle City Council took up a proposal which would stop all business with Wells Fargo due to the direct financing of the Dakota Access Pipeline.
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Fiscal foolishness
“Over all, Chris Wallace was better than I expected. But he was pretty bad on fiscal issues,” writes Paul Krugman.
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