One of the first tactics conservatives and the tea nut subset of right-wing conservatives did to fight the The Patient Protection and Affordable Care Act was to scare the grandparents – reform will kill grandma. This certainty about the great grandma plot was not just echoed by the usual gaggle of right-wing pundits and professional liars such as Rush Limbaugh and Sean Hannity, but from supposedly the saner mainstream of conservatism Chuck Grassley (R-IA) and Sarah Palin. Seniors are great targets for unhinged rightie propaganda – they scare easily about money matters because as a group they are so economically vulnerable and as a group they are reliable voters. So with our rightwing tin foil helmets in place what is the next logical step in fighting the expiration of Bush’s tax cuts for the wealthy? They’re going to bankrupt grandma and grandpa. Allowing the Bush Dividends Tax Cut to Expire for the Richest 2% Will Not Harm Seniors
Douglas Holtz-Eakin, chief economic adviser for John McCain’s presidential campaign and former director of the Congressional Budget Office, recently told the Senate Finance Committee that seniors at all income levels would be hurt if Congress did not make permanent the income tax cut enacted under George W. Bush for corporate stock dividends. As this report explains, only those seniors who are among the richest 2 percent of taxpayers will lose any portion of the Bush income tax cuts.
Nonetheless, Holtz-Eakin claims seniors at all income levels will be harmed. His argument is that corporations would stop paying dividends because the wealthiest individuals receiving them no longer would receive a tax break for them. The result, he argues, is that dividend income would decline for taxpayers at all income levels, particularly seniors. The former CBO director has overlooked the fact that two-thirds of the dividends paid by corporations are to tax-exempt entities, meaning they would have little, if any, incentive to change their practices for paying dividends.
Douglas Holtz-Eakin is also on record as saying this about Rep. Paul Ryan’s flimflam Road map – “I think it’s fabulous, it’s a great template for everyone that’s not just relying on smoke and mirrors.” If your thinking is based on a foundation of smoke and mirrors that makes it difficult to call it when you see it. Ryan’s road map is smoke and mirrors. Perhaps sadder than that, the Road map is the most serious Republican economic plan out there.
One of the benefits of being a Republican is you can just let go with your moral flaws. No pretenses about working toward being a better person. Republicans fly their greed, moral failings, xenophobia and hubris like a badge of honor. Decoding Meg Whitman’s shout-out to New York – Did the candidate for governor just tell Californians that Wall Street wants her to win the election?
From 1998 to 2002, while she was CEO of eBay, Whitman helped steer millions of dollars of her company’s investment banking business to Goldman, court records show.
In 2001, Goldman put Whitman on its corporate board, paying her an estimated $475,000 for little more than a year of part-time service. The company also gave her insider access to the initial public offerings of hot stocks worth millions, according to the records.
Whitman left the board in 2002 after she was targeted in a congressional probe of bond underwriters and “spinning” — a financial maneuver, now banned, in which Goldman and other firms allegedly traded access to hot IPOs for bond business. Whitman later settled a shareholder lawsuit related to profits she and other execs made from buying the IPOs.
Meg Whitman crony capitalism seems a lot like that we find in many Republican millionaires – and yes a few conservative Democrats too – based on who you know, not how hard you work or even how well you play the game. Meg probably has misty day dreams of bringing back the culture of corruption that defined Republican leadership from 2000 until…. now.
On Tuesday, in her home state, Sarah Palin’s favorite will probably get trounced. Joe Miller is widely expected to lose by a large margin to incumbent Sen. Lisa Murkowski in the Republican primary—an embarrassing defeat for the former governor, who has endorsed Miller, but also to Miller’s other major backer, the Tea Party Express.
Miller was a virtual unknown when he announced his Senate candidacy in April. But his big political debut came in June when both Palin and the Tea Party Express endorsed him.
While Miller is a political unknown – OK he is a straight down the line far Right kook judging from his soundbite platform – I kinda fell sorry for him, having fallen in with a seedy bunch. The likely Republican senate nominee is going to be the right-wing Sen. Lisa Murkowski. Murkowski voted for the Bush-Republican TARP bail-out ( a Tea Nuts sin), but she did vote against the Patient Protection and Affordable Care Act. Oops Murkowski voted for the Lilly Ledbetter Fair Pay Act. One of President Obama and Democrats signature legislative victories, which is progressive and genuinely pro women – some might say feminist. So no wonder fake feminist Palin doesn’t like her.
update: ballots are still being counted but Tea But conservative Miller may have pulled an upset despite what the polls said. Senatorial candidate and Tea Nut fav Rick Scott ( another Republican trying to buy a senate seat spending $50 million just on the primaries against McCollum) – who could easily qualify as the photo for the picture for corruption in a pictionary won the Republican primary in Florida. Conservatives claim the new crops of right-wingers who are out right-winging the old guard wing-nuts are not extremists. Kind of depends on how one defines reality. The encouraging news for Democrats ( another view here) is those generic polls which supposedly show right-wing conservative ahead don’t mean that much. As of today Democrat Alex Sink would beat Al Capone Scott. Every Democrat runs their own race and most of the far right candidates – Nevada’s Sharron Angle, California’s Meg Whitman and Carly Fiorina carry a lot of stinking baggage. What is the conservative answer, the great vision, the wise insight into solving the problems they created – Bush 2.0 plus some doubling down on the xenophobia. Never underestimate the Republican ability to gain traction on bizarre issues like Obama’s birth certificate, secret plots by Muslim imans ( that they paled around with) and trashing the Constitution in favor of Christian Sharia law.