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Showing posts with the label tax cuts

Are the Democrats on the Super Committee chasing their own tails?

I was watching MSNBC and saw a report from Luke Russert regarding the super committee and their work to reduce the deficit by 1.2 trillion dollars.   Mr. Russert and Savannah Guthrie spoke about how Republicans really had an incentive to reach a compromise if for no other reason than to avoid the deep cuts to defense. I may be wrong but I cannot help but think that a party who were willing to allow this country to go into default and have been targeting social security, Medicare and other social safety nets, would not really care about deep cuts to any program as long as it does not give this president a supposed win on anything.   I would consider it a miracle if they worked really hard at anything which involved this administration. How soon we forget, that before this president was even inaugurated, the Republicans had met and decided not to help this president in any way.   What allowed him to get as much done as he did was the majority in the House and the S...

The War between Wall Street and Main Street

Before this economic collapse, many people on Main Street never really considered Wall Street as alive; it was only thought of a place where people go to work.   Lately, it’s becoming increasingly clear that Wall Street is most definitely alive and is eating our breakfast.   Typically, I never really like to categorize any issue as “us/we” and “they/them” but for the sake of clarity and to better help you understand my point, this time I must.   We will be the middle class, seniors, poor and less fortunate while they will simply be the wealthy.   Make no mistake about it, this is class warfare. One of the most ingenious things ever created by Main Street was Wall Street but just like any animal that goes mad, it turned on us.   Main Street wanted a better life for their children so we created the Student Loans.   We wanted to reach a higher standard so we created Home Loans.   We wanted to be our own boss so we created Commercial Loans.   We w...

Is the GOP really trying to repeal Wall Street reform?

When I was first informed that the GOP ordered an emergency meeting not for job creation but to vote on restricting funding for National Public Radio (NPR), I was shocked that all the promises to concentrate on jobs and as yet not one bill addressing it.   I didn’t think that I could be shocked by anything else that the GOP would do.   I was wrong. According to M eredith Shiner’s article titled GOP begins rollback of Wall St. reform , the one thing which is unquestionably the best law made to keep this nation from ever going through what it has involving the economy now appears to be under fire similar to healthcare.   “ Republicans clearly want to strike at the heart of banking reform with legislation attacking new regulations on derivatives, credit rating agencies and private equity firms.”   “In a two-pronged approach that   began   with starving funds from relevant federal agencies like the Treasury, Securities and Exchange Commission, and Commodity Fu...