Some points to ponder:
- President Obama has suggested a millionaire’s tax, which under this new rule, individuals with incomes in excess of $1 million would be required to pay a minimum amount of tax no less in percentage terms than the average middle-class taxpayer. The Republicans are claiming class warfare. Interesting. They have been extracting most of our treasury with favored tax and trade policies, and now want to balance the budget over the slowing decaying bodies of the poor, and a little balance in that equation is class warfare?
- The Republicans in the house have got a bill going to make a national right to carry a concealed weapon law which would trump local state laws that restrict who can carry a concealed weapon. Let’s see if I have this right. State’s rights are an important rights, unless of course I disagree with what the States want to do, then I force my will down their throats utilizing the hated big government. The federal government cannot force everyone to buy health insurance, but they can force the states to let just about anyone pack heat. Do I have this right? Anybody besides me see the hypocrisy here?
- Paul Volcker wrote an editorial today trying to tamp down an effort by some economists to point out that a little inflation might be a good thing. See the banks and individuals are not reinvesting their money, but hanging on to it, which is part of our problem with the recession. The thought is that if the Fed would quit holding down inflation and focus on their other duty which is to keep unemployment low, the economy would improve. Inflation makes holding on to the dollar counter productive and you have to put it to work to keep up with inflation. Volcker is a product of his times and the runaway wage-price spiral of the late 70′s. Anybody remind Mr. Volcker that wages are falling, not growing? Like everything else, different times calls for different strategies.
- President Obama will tell us today that he will veto any bill that attempts to attack the deficit with only cuts and must be a balanced approach with both tax revenue and cuts. Pundits and Republicans will no doubt tell us that this is just more partisan gamesmanship. Again, let me see if I have this right. John Boehner says that any tax increases is a no-go, which of course is a principled position, and if the President proposes that we have a more balanced approach, it is just more partisan gamesmanship. Anybody but me see how we have totally missed the mark on the blame game?
- There is a proposal by the President to include a Georgia program that lets businesses train jobless workers for eight weeks without having to pay them on a national scale. The program, called Georgia Works, is voluntary for businesses and workers and is only open to recipients of unemployment insurance. Paul Ryan likes this idea especially in terms of police, firemen, and teachers. You get to hire them for free and maybe they will be trained and get employment or they simply gave up their time for free. Wasn’t that called slavery back before the civil war? Just how fast can we race to the bottom?
- Last but not least, Ron Suskind, in his new book Confidence Men, tells us that President Obama was ignored by many on his staff with no adverse consequences. That is so hard to believe seeing how he has face down the Republicans and held firm on his principles. I think up an example in a minute.
- Oh yeah, one other thing. Is it just me (I am sure it is) or is their something extremely hypocritical about reading about Sarah Palins alleged sex and drugs? Who cares? What is frightening is her stand on issues, not her private choices. I wonder if we will ever grow up as a nation.