We live at a time where the war on the working class has brought pensions squarely into the cross-hairs of politicians and pundits looking for scapegoats and an easy fix. In the past, it was the working poor and jobless who bore the brunt of the economic blame that so often circulates during tough times. Today, working class Americans with careers in industry, law enforcement, fire protection, the military, education, and state and municipal services are being attacked because they earn decent wages and benefits that include retirement security. This malevolent scrutiny is added to the cynical attacks mounted by Wall Street interests on Social Security. The promise of dignified retirement that is so critical to the American way of life is under dire threat.
Read the rest of this entry »Monday Musings: December 6, 2010
Once again we have arrived at the “bowl season” where college football excellence is redefined as mediocrity. There is NO NATIONAL CHAMPIONSHIP at the highest level of college football…there never has been one either. We were told, many years ago, that no playoff could exist because it would require too many games; Oregon has played 12 games and Auburn 13…college teams used to play 11 before the bowl games. Speaking of bowl games, there are 35 this year, meaning that 75 of 120 or so teams are playing in the “postseason”. Speaking of mediocrity, Auburn’s Cam Newton was ruled eligible to play (as a student-athlete) because he is only a serial cheater in the classroom…his Dad is the NCAA’s principle villain for acting as Newton’s agent (allegedly). Phew…that was close; just so long as the kid didn’t get paid for playing ball; those pesky academics are really besides the point.
Read the rest of this entry »The Father, The Son, And The Holy Tax Cut
I add the emphasis to taxable income, because for those politicians and pundits that believe tax cuts are akin to the Lord’s Prayer, a very unlikely view of the American landscape exists. Precious few small businesses, of the type most of us would identify with that label, generate taxable income in excess of $200,000. Corner markets, craft stores, pizza parlors, hair salons, craft stores, boutiques, Avon ladies, independent contractors…none of these are likely to reach that plateau. Even as a sole proprietor, and cutting no corners on the filing and writing off no expenses or material, Joe the Plumber might be expected to reach $120,000 in gross income for a year.
Read the rest of this entry »Bailouts And Stimulus, What The Heck?
Of course, some of this is the responsibility of our current president, while some of the “blame” goes to the previous president. It is my contention that most of this activity was necessary and effective, if not always executed with the greatest efficiency. Our economy is in a bad way now, but it would have been much, much worse. I think it is critical that we explore these issues, because the policies that made them necessary are threatening to make a second pass. The story of the Great Recession is a story of Americans spending a great deal of money without getting much of substance in return.
Read the rest of this entry »Ready, Fire, Aim
Something doesn’t make sense. The process is askew. Shouldn’t aim come before fire? The media and Congress are operating today, based on their actions, as though a debt crisis is our great national problem. The people don’t believe that; poll after poll find jobs and the economy are more important than the federal deficit. We are constantly told that Congress went against the wishes of the people when they voted for health care reform. The same polls tell Congress that jobs matter more than the deficit; where is the drumbeat for action on that front?
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