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17 Sep 2011 20:03

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Politics: Obama to make tax-the-wealthy push … and credit Warren Buffett

  • Remember how Warren Buffett wrote that the government should raise the taxes of the super-wealthy … you know, folks like him? Well, it looks like someone with a lot of power to put that plan into action read that New York Times editorial. Obama’s going to make a push to tax the super-wealthy (those who make more than $1 million per year) at the same rate as the middle-class, and he’s calling it the “Buffett Rule.” Great selling point for Obama, but will it be enough for all the other rich people in Congress? Good question. (photo via Medill DC) source
Posted by Ernie Smith • 0 Comments • Permalink

25 Aug 2011 23:58

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Politics: New poll brings bad news for Republicans

  • -6 Obama’s net favorability, as of this month
  • -7 The Democratic Party’s favorability
  • -25 The Republican Party’s favorability source
  • » Why no love for the GOP? Over the last six months, everybody–Obama, Democrats, and Republicans–has seen a net drop in their approval ratings, but Republicans are clearly the most hated of the bunch. This is probably due to a combination of factors: Paul Ryan’s budget proposal, Scott Walker’s anti-union antics in Wisconsin, and the GOP’s handling of the debt ceiling debate were all high-profile issues that attracted (mostly) negative attention to the GOP. Whatever the cause, there’s one thing we can glean from these results: Democrats seem to be out-messaging Republicans in 2011. Whether or not this can carry Obama to reelection amidst a horrible economy remains to be seen.
Posted by Seth Millstein • 0 Comments • Permalink

15 Aug 2011 00:26

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Politics: Warren Buffett: Tax me, please! Make me pay more money!

  • I know well many of the mega-rich and, by and large, they are very decent people. They love America and appreciate the opportunity this country has given them. Many have joined the Giving Pledge, promising to give most of their wealth to philanthropy. Most wouldn’t mind being told to pay more in taxes as well, particularly when so many of their fellow citizens are truly suffering.
  • Warren Buffett • Arguing in an editorial for the New York Times (titled, fittingly, “Stop coddling the super-rich”) that Congress needs to raise his taxes and those of people with incomes topping $1 million. “My friends and I have been coddled long enough by a billionaire-friendly Congress,” he writes. “It’s time for our government to get serious about shared sacrifice.” Wait … a super-rich guy offering more money up in taxes? Be still our hearts. And don’t tell the Koch brothers … they might disagree with this stance. source
Posted by Ernie Smith • 0 Comments • Permalink

07 Aug 2011 21:37

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Politics: So much for leaving; Timmy Boy Geithner sticking around for a while

While there was word on the street that he was going to depart after the brutal debt ceiling crisis, Obama wanted him to stick around instead. This sounds like an aneurysm waiting to happen. source
Posted by Ernie Smith • 0 Comments • Permalink

02 Aug 2011 10:32

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Politics: Timothy Geithner: Debt ceiling vote process might affect our credit rating

  • I don’t know. It’s hard to tell. I think this is a good result but a terrible process. And again, again, as the world watched Congress step up to the edge of the abyss it made them really wonder whether this place can work.
  • Treasury Secretary Timothy Geithner • Offering his take on whether the U.S. might get a credit rating downgrade despite the fact that the debt ceiling increase will likely pass the Senate today. Many of Geithner’s recent statements regarding the debt ceiling seem to indicate that consumer and investor confidence was shaken by the long, roundabout process it took to get a debt ceiling increase. We’ll see if he’s right. source
Posted by Ernie Smith • 0 Comments • Permalink

01 Aug 2011 21:07

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Politics: Lone wolf amongst GOP 2012 crowd praises debt ceiling deal

Most of the 2012 candidates have come out against the debt ceiling deals, except for one guy, who called it “a positive step toward cutting our nation’s crippling debt.” We can’t figure out whom. Can you guys? source
Posted by Ernie Smith • 0 Comments • Permalink

31 Jul 2011 00:27

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U.S.: Breakdown: The new new NEW new nü NEW debt ceiling framework

  • So, those Republicans finally got a framework! If anyone feels like you might be on the most boring roller coaster ever, you are, as there have been so many high and low points with this debt ceiling dramarama today that you probably feel so dizzy that people might mistake you for being drunk. Anyway, in the latest developments, Republicans have apparently reached a framework with the White House to make this debt ceiling deal happen. Based on this, which side do you think won the day? Here’s a roundup:
  • ceiling The debt ceiling would rise to $2.8 trillion (though this number is conflicting; AP reports $2.4 trillion). This would be enough to get us past the 2012 elections.
  • cuts Republicans would reportedly agree to roughly $1 trillion in cuts now, and then another $1.8 trillion later. Ignore our earlier version of the post; this is significant.
  • condition Republicans will get one thing out of the mess which in the end won’t mean anything — a vote on a balanced budget amendement. This will not pass. source
Posted by Ernie Smith • 0 Comments • Permalink
 

28 Jul 2011 23:23

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Politics: An update on the debt ceiling shenanigans

  • boehner’s bill falls short: After a chaotic day of vote-whipping, vote-delaying, and vote-switching, John Boehner has decided to postpone the vote on his debt ceiling bill. Despite multiple assurances that it would be brought to a vote before tomorrow, at the end of the day, Boehner didn’t have enough votes to ensure the bill’s passage (and he wasn’t going to embarrass himself by introducing a bill that was sure to fail). In an unusual alignment, conservative Tea Partiers and House Democrats all pledged to vote against the bill, albiet for different reasons. While the legislation has virtually no chance of passing the Democratic-controlled Senate, Boehner’s ability to shepherd it through the House is seen by many as the first real test of his leadership abilities. If he doesn’t eventually pass it, there’s a good chance he’ll (eventually) be deposed as Speaker. But it’s not over yet–sources say Republicans plan to tweak the bill a bit, and re-introduce it tomorrow.  source
Posted by Seth Millstein • 0 Comments • Permalink

28 Jul 2011 14:45

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Politics: Firebrand Rep. Joe Walsh has a pretty big financial problem

  • $117,000 owed in child support source
  • » That’s a lot of money: Walsh, a member of the Tea Party who calls for the country to cut spending and pay its bills, is having trouble paying some of his own, according to a recently filed lawsuit. He’s had other financial troubles, too — he lost a condo in a Chicago suburb to foreclosure, but he eventually got that cleared up. Our question: Should Walsh’s own issues be on the table, considering the way he goes after the government’s fiscal issues?
Posted by Justin Jones • 0 Comments • Permalink

27 Jul 2011 23:52

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Politics: McCain invokes “Lord of the Rings” in debt ceiling tirade

  • The Republican House that failed to raise the debt ceiling would somehow escape all blame. Then Democrats would have no choice but to pass a balanced-budget amendment and reform entitlements, and the tea-party Hobbits could return to Middle Earth having defeated Mordor.
  • John McCain • Ripping the Republican Party on the Senate floor. He later derided House Republicans’ approach to the debt-ceiling discussions as “the kind of crack political thinking that turned Sharron Angle and Christine O’Donnell into GOP Senate nominees.” source
Posted by Seth Millstein • 0 Comments • Permalink
 
 
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