Month: April 2015

Tax Cuts and Supply Side Economics

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It is economic incentive that drives enterprise, not the supposed nobility of spirit of the wealthy. That idea is aristocracy. Our nation is founded on the self-evident truth that aristocracy is a lie, and that powerful elites do not share their money, power, and privilege with the people. We now have a new aristocracy, created by transferring literally trillions of dollars in wealth to the wealthiest people in our society

Robert Mercer -Backer of Cruz

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an example of how wealthy donors have been empowered by the Supreme Court’s 2010 decision in the landmark Citizens United case, which paved the way for super PACs. Unlike candidates, super PACs can accept unlimited amounts of money from individuals and corporations to support a candidate so long as they do not officially “coordinate” with the campaign.

GE Capital Retreat – NYTimes.com

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“wholesale funding.” is industry parlance for borrowing in the markets, Lenders take the cheap, short-term money and lend it for higher rates to companies and individuals. in 2008 investors who lent in that short-term market fled, leaving the financial firms that borrowed there without funding. It was a Wall Street version of an old-fashioned bank run

The Middle Class Under Pressure

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The problem in defining the middle class with an income or wealth ranking is its ambiguity. if we define the middle class as families between the 25th and 75th percentiles, how different are families at the 24th than those at the 25th or the 76th from those at the 75th percentiles? How different are those at the 25th than those at the 75th?

Middle Class, Economically Insecure

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The study, conducted by William R. Emmons and Bryan J. Noeth, found that one reason many Americans viewed themselves as struggling was that their real incomes had not advanced significantly beyond their parents’ even when they reached higher educational levels, while those who matched their parents’ achievements were actually worse off.The typical American family makes slightly less than a typical family did 15 years ago.

You Can Get Away With Cheating The IRS

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“If you owe $1 million, I’m going to knock on your door,” he told the paper. “If you just owe $700,000, we’ll hope you get a job sometime so we can levy.”
Wage garnishment is normally the IRS’ most effective tool for securing repayment, but that tactic is useless against most of the people who are skating away with government money at this point. Most of them are wealthy enough not to work a steady job, so there are no checks to garnish.

Ted Cruz recuses self on anything before 1970

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[Q]: A third Texas president, L.B.J., created Medicare in the mid-’60s. Your hero Ronald Reagan campaigned vigorously against that, saying it would lead to socialized medicine, would end liberty in the United States. Who was right: L.B.J. or Reagan?
[Republican presidential candidate Ted Cruz]: It’s not worth tilting at windmills. I don’t know. I wasn’t alive then.
Who was right? Who’s to say? That was in the before-times. I have no opinions on the before-times.