Tag Archives: Taxes/regulation

This is taken from Prof. Heather’s June 15, 2023, Letters from an American. It begs the question of why can there not be another New Deal for Americans? When he accepted the Democratic nomination for president in July 1932, New York governor Franklin Delano Roosevelt vowed to steer between the radical extremes of fascism and communism to deliver a “New Deal” to the American people.  The so-called alphabet soup of the New Deal gave us the...

No one has accepted real responsibility for the East Palestine disaster, The Guardian, Zsuzsa Gyenes A noticeable chemical odor three months later – yet the town and surrounding residents still has to fight for accountability from Norfolk Southern as told by Zsuzsa. The Ohio Republican governor Mike DeWine is sitting back waiting for the East Palestine residents to tire of their efforts for more help. The accident has not been declared a disaster...

The private banking industry either can’t or won’t do what needs to be done to stop preying on vulnerable people. The Post Office Can Bring People-Centered Public Banking to Every ZIP Code, Inequality.org, Anni Norman, Aditi Sen, May 2023. The need for a public banking option is urgent. Nearly 10 million households, a disproportionate number of whom are people of color, are unbanked in the United States. Unbanked or underbanked households...

There are many things which could be cut in the present Debt Ceiling bill which alleviate the unnecessary need to cut assistance to those who need it. Food assistance for very low-income older adults is not one of them. A million or so of older adults aged 50-54 will or are now at risk of losing food assistance, including a large number of women. Some of our legislators are in drastic need of the same physical labor to which many the fifty-something...

A week ago, this commentary by Bill McBride was up on Calculated Risk. A bit of history dating back to 2001. A very timely post and one which fits in with what was happening today with the National Debt. Take note of who was pushing less stringent regulation, tax cuts, etc. It will pay for itself! What Happened to “Paying off the National Debt”? (calculatedriskblog.com, Bill McBride At the turn of the millennium, the concern was that the US...

This Hill article was up on Naked Capitalism’s Links this morning. More of the Democrats urging extreme caution in pursuing the 14th Amendment as a solution to a debt limit which is an agreement between parties and not a requirement. One could always print more money to resolve the issue also. Meanwhile, citizens having little political power presently are being held hostage and ultimately will pay a price. 14th Amendment talk on debt limit...

Factbox: What’s in Republican McCarthy’s debt-limit spending cut package? Reuters, Andy Sullivan. Items Republicans and McCarthy are pushing for in a debt-limit package. The bill would essentially pair $4.5 trillion in spending cuts with a $1.5 trillion increase in the federal debt limit. Republicans are wanting to talk about government borrowing. “What’s in your wallet,” today as one bank loves to ask when it comes to credit cards. Well,...

Bankrupt Bed Bath & Beyond goes after container shipping lines, freightwaves.com, Greg Miller Kind of an interesting story if true. Bed, Bath, and Beyond contracted for a specific number of containers to haul their ordered product from one destination to the US. From the way the allegations go, the Container Company/Shipper failed to provide the containers and sold the space on the ships to others for a higher amount. Bed, Bath, and Beyond has...

Commenter Fred Dobbs reports (NYT) on the seizure of First Republic Bank by banking regulators in the comments section of Angry Bear. I am beginning to wonder how many more seizures will occur. How many failures are resulting from the loosening of Dodd-Frank? It appears the Fed has a greater impact on banks than Labor. JP Morgan Chase to the rescue . . . Earlier Angry Bear commentary on Dodd – Frank here and here. Fred Dobbs comment; First...

To be clear, our national debt problem is due to revenues insufficient to cover expenditures. More than anything else, for the past 40 plus years, this accumulated deficit is due to Republican opposition to tax increases coupled with their eagerness to cut taxes on the wealthy given the opportunity to do so. Most, if indeed not all, currently serving Republican US Senators and Representatives, and State legislators have signed a pledge to never vote...