You may have noticed a certain audacious argument coming from elite circles about why we shouldn't be letting the Bush era tax cuts expire. The argument is that in the middle of a recession, it's the wrong time to ask people (even very rich people) to pay more in taxes. They need to have more cash in hand so as to spend more, which means industry will produce more, which means they'll hire more people...a virtuous circle leading to economic recovery.
It's funny how corporations, bankers and politicians who used to think they could control the economy simply by raising or lowering interest rates have rediscovered John Maynard Keynes just when they might have to fork over more in taxes. But the audacity of the argument is that it can be used at any time. If we are in recession, we don't want to raise taxes lest it make things worse. If the economy is improving, that's the wrong time, too: do you want to choke off the recovery before it really takes effect? And if the economy is going great guns, why raise taxes and ruin the great thing you've got going? It's as if the whole purpose of government were to avoid taxing people--not to spend taxes wisely for the public good.
Now we are hearing a similar argument about putting people out of work. It seems it's always a good time to "downsize" and never a good time to make sure more people have jobs. "That's the story at State Street Corp., which recently announced the elimination of 1,400 jobs, including 400 in Massachusetts. Those jobs are gone, even though State Street last reported profits of $427 million, up about 20 percent from a year ago," reports Joan Vennochi in the Boston Globe.
There's a word for this in Yiddish: chutzpah. The old joke said that chutzpah means murdering your parents and asking the court for mercy because you're an orphan. The new joke is the chutzpah of corporate fat cats who justify their huge profits because they "give us jobs"--and then increase their profits by taking those jobs away.
Showing posts with label tax. Show all posts
Showing posts with label tax. Show all posts
Thursday, December 9, 2010
Friday, March 13, 2009
Socialism, Reagan-style

It helps to have a historical memory! Republicans are calling Obama's recovery plan "socialist" in part because it raises taxes on the rich. But it doesn't raise them anywhere near as high as they were under Republican presidents Ronald Reagan or Richard Nixon. They don't make Republicans like they used to! Or socialists, for that matter!
Wednesday, November 5, 2008
Time for a Change--but We Must Make It Happen
The results of last night's election are about as good as I could have wished. Obama-Biden won by a large enough margin that no amount of cheating could affect the outcome. Democrats widened their lead in Congress, and progressives held onto their seats. There's still a chance that Al Franken could become the next Senator from Minnesota. Most important to me personally, Massachusetts voted 2-1 against eliminating the state income tax.
It' s still important that every vote be counted--and that attempts to suppress the vote be identified and punished. Whoever tried to use text messages and Facebook to convince college students the election date had been moved should go to jail!
So, I hope everyone enjoyed last night. It's time to get back to work. The campaign isn't over. If we really want change, we're going to have to make it happen.
What? Am I really saying we can't leave everything in Obama's hands? Yes, I am. For one thing, that's not democracy: that's electing a king. For another, Obama has never called for the changes I believe in. He's a 21st-century liberal who wants to tinker around the edges of government, not revolutionize it. Even to get done what he says he wants to do, however, he will need us to give him visible, vocal support, to overwhelm the opposition he will face and to stiffen his own political backbone.
So, over the next few days, I'm going to be exploring these kinds of change:
It' s still important that every vote be counted--and that attempts to suppress the vote be identified and punished. Whoever tried to use text messages and Facebook to convince college students the election date had been moved should go to jail!
So, I hope everyone enjoyed last night. It's time to get back to work. The campaign isn't over. If we really want change, we're going to have to make it happen.
What? Am I really saying we can't leave everything in Obama's hands? Yes, I am. For one thing, that's not democracy: that's electing a king. For another, Obama has never called for the changes I believe in. He's a 21st-century liberal who wants to tinker around the edges of government, not revolutionize it. Even to get done what he says he wants to do, however, he will need us to give him visible, vocal support, to overwhelm the opposition he will face and to stiffen his own political backbone.
So, over the next few days, I'm going to be exploring these kinds of change:
- the ones Obama has pledged to make
- the ones he hasn't addressed which we vitally need
- the wrongheaded policies Obama has proposed, where we will need to change him--or defeat him.
Thursday, October 16, 2008
An Anti-Poverty Platform
Strategy 2: An Anti-Poverty Platform
Yesterday, I explained why all the work that agencies like the one I work for aren't enough to get everyone out of poverty and to a state of self-sufficiency. There just aren't enough well-paying jobs to go around, even with a whole lot of public benefits to reduce a family's need for cash. At minimum wage, a family would have to work 3-1/2 full-time jobs to reach self-sufficiency in Somerville. That's hard to do, with one or two adults.
People like me do our best at the family and city levels. What we need, though, are social and national changes. My boss, Jack Hamilton, has written that three policies would go a long way toward ending poverty:
Of course McCain is not in favor of any of the three policies. But neither is Obama. Yet. And he won't be, unless we can mobilize enough people to say long enough, loud enough, often enough, "Pass these policies or else!" In other words, we need more than self-sufficiency AND we need more than policy change. To achieve either of them, we need a social movement.
More about that tomorrow.
Yesterday, I explained why all the work that agencies like the one I work for aren't enough to get everyone out of poverty and to a state of self-sufficiency. There just aren't enough well-paying jobs to go around, even with a whole lot of public benefits to reduce a family's need for cash. At minimum wage, a family would have to work 3-1/2 full-time jobs to reach self-sufficiency in Somerville. That's hard to do, with one or two adults.
People like me do our best at the family and city levels. What we need, though, are social and national changes. My boss, Jack Hamilton, has written that three policies would go a long way toward ending poverty:
1. A comprehensive, single-payer, universal plan for health coverage for all Americans;
2. A progressive reform of the tax system; and
3. An increase in the minimum wage, and the indexing of it to inflation.
Of course McCain is not in favor of any of the three policies. But neither is Obama. Yet. And he won't be, unless we can mobilize enough people to say long enough, loud enough, often enough, "Pass these policies or else!" In other words, we need more than self-sufficiency AND we need more than policy change. To achieve either of them, we need a social movement.
More about that tomorrow.
Subscribe to:
Posts (Atom)

