Entries Tagged 'Economy' ↓

The Origins of the National Debt

Complete with analysis from Ezra Klein over at the WaPo.

I Give Up: Pay Anything

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
I Give Up – Pay Anything…
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If Households Budgeted Like the GOP

via Eric and newyorkiloveyou

Tell Me: Who Should Be “Making Sacrifices” Again?

I Read Some Marx (And I Liked It)

Let’s Talk About Budget Cuts…

A random van that was wandering New Hampshire to educate the populace on the way the US budget is divided. via

Tag Cloud: Senator Bernie Sanders’ Filibuster

Average Tax Cuts: Dem, Repub & Obama Plans Compared

Yeah, as Ezra Kelin puts it, this is “Why liberals don’t like the tax cut deal.” Damn straight.

via The Washington Post

Keith Olbermann’s Tax Cut Special Comment


Visit msnbc.com for breaking news, world news, and news about the economy

Crocodile Tears

Sen. Bernie Sanders Explains the Republican Agenda

via WGB

Joblessness Rant

I’m so fucking tired of hearing middle class and upper-middle class people disparage the poor and jobless by claiming the unemployment situation isn’t that bad. If I hear someone say, “there are plenty of jobs out there, people just need to get off their asses and go get one of them,” one more time, I might decide to stop being a pacifist. They argue that Craigslist is full of job openings. True, but a huge majority of the folks hit hardest by this recession are not looking for the kind of jobs typically posted on Craigslist. It’s important to keep in mind that the national unemployment rate is an average. But that doesn’t mean it’s the same for all income groups. In fact for me and my fellow middle-to-upper-middle class white workers, the unemployment rate is still fairly moderate (5-6%). But those in the lower income brackets are facing unemployment rates of 15%, 20%, and even 30%. What’s more, African Americans and Hispanics experience much higher rates of unemployment than whites (16% and 12% versus 8% respectively). Just because you see a bunch of 50K and 70K jobs being posted on Craigslist doesn’t mean that jobs are being created for those who are highly unemployed in the lower income brackets. It’s important to think outside our little (albeit shrinking) bubble of upper middle class ignorance and bliss. There are real people who can’t find work because jobs aren’t being created for them to fill. And the chances are that you probably don’t know many of these people. They’re not likely to be the friends you’re going out to sushi with on a Friday night or hitting the bars/clubs with on Saturday night. Like attracts like when it comes to income and class. So just for a second let your mind venture outside of its comfort zone to understand that there are people suffering and struggling to find jobs to feed themselves and their families. This is some serious economic shit we’re facing, and people who you probably don’t know personally (or even associate with) are taking the brunt of it. And they much worse off than you and your yuppie friends could even imagine being. Just sayin…


Some charts on unemployment disparity across income levels after the jump

Visualizing the Extension of the Bush Tax Cuts

I contacted my buddy Marc a few weeks ago about creating a visualization or infographic regarding who gets what from the Bush tax cuts. He was busy and then I was busy and then… well, we didn’t get around to it. Luckily Bill Marsh at the New York Times had the same idea. What’s more, he probably had much better data to pull from. To put it mildly, his chart pretty much rocked my world. Check it out:

Your Coming Tax Cut (or Not)
The Bush tax cuts of 2001 and 2003 are set to expire at the end of this year, and the fight is on to renew some or all of them. Many Democrats want to scrap future cuts for the wealthiest taxpayers — individuals whose income after deductions is more than $200,000 and couples at $250,000 or more. The Republican leaders insist that all taxpayers should get relief, even those in the highest income strata. Wealthy Americans, they say, can use their tax savings to create jobs.

In either case, the extensions would be expensive: perhaps $2.7 trillion less for the Treasury through 2020. Here is a guide to who will get what if the cuts are extended, and who got what from the last seven years of cuts, according to an analysis by the Tax Policy Center, a nonpartisan research organization. — BILL MARSH

Labor Day Weekend Links

Here’s some of the stuff I’m reading this weekend:

Health Law Myths: Outside The Realm Of Reality via NPR

National Debt For Beginners via NPR

The Current Flat-Tax Rate: 40% via MSN Money

Making Social Security Less Generous Isn’t The Answer via Washington Post

Who to Blame?


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