Income and wealth disparities become even more absurd if we look at the top 0.1% of the nation's earners– rather than the more common 1%. The top 0.1%– about 315,000 individuals out of 315 million– are making about half of all capital gains on the sale of shares or property after 1 year; and these capital gains make up 60% of the income made by the Forbes 400.
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But the loss of that revenue comes at a cost, a cost being paid by middle class and low-income Americans
who are already reeling from a sluggish economy — most notably, students. According to a new report from
the National Education Association, $9.8 billion of the lost revenue from corporation would have gone to
public schools and colleges over the same period."
Every Occupy site in every city needs a giant banner like this:
When the dirty-legged, on-camera Naziette asks what you don't have a clear message, you point to the sign and say,
"The poor don't have money to pay taxes and congress says the super-rich don't have to pay, so everything falls on us - the 99 percent and we're damned tired of working longer and harder for less money every year."
Message that, bitch.
Did you hear CNN's Carol Costello (R-Liar) on The Day of Action? The untruthful slut
was slamming the protestors for hours, calling them "druggies, criminals and unhygenic louts."
"I hate the unwashed 99 percenters!"
Hey Carol, you need to move to FOX so you can spew your hate 24/7 and we don't have to hear it anymore.
Because sanctions have worked like a charm in the past. "The United States, Britain and Canada will impose new financial sanctions on Iran in an effort to pressure Tehran to halt its suspected nuclear weapons program. A US official on Monday said the financial and energy sanctions will target Iranian companies, the Revolutionary Guard force and Iran's petrochemicals sector. The official spoke on condition of anonymity, because of the sensitivity of the issue. The sanctions will likely be officially announced later on Monday by Hillary Clinton, the US Secretary of State, according to the official."
Religious lobbying groups multiply fivefold on Capitol Hill.
$390 million per year of tax free money to lobby Congress instead of helping those in need. They need to be taxed.
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MANCHESTER, N.H. – Mitt Romney today briefly reiterated his campaign's assertion that his aides did nothing wrong when they purchased their state-issued hard drives in 2006, as they left their jobs and Romney began his first run for president.
"They all followed the law exactly as it's written," he said, after attempting to ignore reporters who peppered him with questions about the issue, as he left a luncheon here that was sponsored by the Union Leader newspaper.
The Globe reported on Thursday that 11 of Romney's aides—- including his chief of staff, deputy chief of staff, and chief legal counsel – took the unusual step of buying 17 hard drives from the Massachusetts governor's office, paying $65 for each one.
The Romney administration also wiped the server for the governor's office and replaced the remaining computers in the office as they prepared to turn over power to Governor Deval Patrick, a Democrat. As a result, Patrick's office, which has been inundated with requests for records from the Romney era, has said that it has no emails from the Romney administration.
Romney did not address why his aides wiped the server, or if they were seeking to keep public information confidential. But he pointed out that his administration turned over paper records to the state archives in Dorchester.
"We actually put 700 boxes of information into the archives that wasn't even required, so we followed the law exactly as intended and as written," he said….
Those two brothers who protested against OWS? Turns out one of them is a Wall Street scam artist. Working as a broker in New York in the 1990s, Tabacco was barred from the industry, fined $50,000, and ordered to pay $20,000 in restitution after a misconduct incident, according to Financial Industry Regulatory Authority (FINRA) records. FINRA is not a government agency; it is the industry's own regulatory authority. At the time Tabacco was working for the Staten Island-based First Hanover Securities. A complaint was filed alleging that Tabacco "executed 11 transactions in 3 unrelated customer accounts without the prior knowledge, authorization or consent of the respective customers."He is now barred from being a stock broker.
As we witness the failure of the Super Committee in real-time, it's important to remember that a failure on the part of the committee is a victory for Democrats.
Why?
Because if the Super Committee does not agree to anything, the current baseline, which includes an expiration of the Bush Tax Cuts, will remain intact.
As I explained months ago, John Boehner tricked his caucus into voting for a budget as a part of the debt-ceiling deal which includes an expiration of the Bush Tax Cuts. It was a possibility the Super Committee would extend the cuts permanently as a part of a larger deal, but we now know that to be highly unlikely.
The highly ironic, and hypocritical, thing is that a failure of the Committee would appear to be the most beneficial outcome if you're really concerned about the federal deficit. The Bush Tax Cuts are the single largest contributor to the federal deficit, as the graph above clearly demonstrates, and the Republicans have been fighting tooth and nail to extend them.
President Obama is not a dummy, nor is the Democratic leadership in congress. They knew the Republicans would never sign off on genuine tax increases, therefore the only way to achieve that was through trickery. And if the Super Committee fails, President Obama's "Rope-a-Dope," as Lawrence O'Donnell called it, will have come full-circle.
The Media and the Republicans will both spin this as some sort of "both sides" shenanigans, but make no mistake, this is a win for Democrats. And for their part, the Republicans' hypocrisy on the matter is immeasurable.
Update… as of 5pm EST 11/21 the Super Committee has officially failed
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Paul Krugman predicted that "both sides" would be blamed if the Super Committee failed to come up with a deal.
Yep, the Democrats on the committee are being targeted with equal blame as the Republicans even though the Republicans refused to allow equal parts tax increases and spending cuts — this, of course, would be a fair deal. Instead, the Republicans insisted on a hugely lopsided deal with spending cuts far outweighing tax hikes.
Ezra:
According to the supercommittee's Democrats, the Republicans just offered a deal that paired $542.7 billion in spending cuts with $3 billion in tax increases. So the ratio of spending cuts to tax increases is approximately 180:1, and 214:1 if you count interest savings.
So when the Democrats rightfully resist being bullied around with an incredibly unfair deal, they're blamed as much as the Republicans.
Your liberal media at work. Blame the Democrats for not allowing themselves (and the American people) to be bulldozed by the Republicans.
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Mario: Herman Cain is a disgusting bigot
If there was ever a shred of doubt that Herman Cain is anything more than a low-life, bigoted snake oil salesman, there should not be now. The more we learn of this man, the more distasteful he becomes.
He did have a slight worry at one point during the chemotherapy process when he discovered that one of the surgeon's name was "Dr. Abdallah."
"I said to his physician assistant, I said, 'That sounds foreign–not that I had anything against foreign doctors–but it sounded too foreign," Cain tells the audience. "She said, 'He's from Lebanon.' Oh, Lebanon! My mind immediately started thinking, wait a minute, maybe his religious persuasion is different than mine! She could see the look on my face and she said, 'Don't worry, Mr. Cain, he's a Christian from Lebanon.'"
"Hallelujah!" Cain says. "Thank God!"
What a disgusting little man. I wonder what Cain would say if he heard of a white man saying of his black doctor: "His skin looks dark – not that I have anything against dark-skinned doctors – but it does look too dark." Or what about a Jewish man hesitant about his Christian doctor, saying: "His name doesn't sound Jewish – not that I have anything against gentiles – but it does sound too Christian."
There is something seriously wrong with a political party which allows bigots, racists, homophobes and slimeballs of the Herman Cain variety within its leadership ranks. Bigots can be found everywhere but no political party applauds them like Republicans do.
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Jill: So what on earth makes anyone think that more tax cuts will cause the executives of these companies to "create jobs"?
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America's most lovable war criminal, Condoleezza Rice, likes only one thing more than hawking her new book, and that's warmongering. So now that she's been removed from the White House (too late), and is back to being a regular old academic-type person, with a new book, what do you suppose she's doing with all her free time? Why, warmongering, of course! Recently, for example, she called up an Israeli newspaper to demand that everybody attack and kill Iran. What could go wrong? Then she crapped on the Arab Spring for good measure. READ MORE »
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