PAUL BUCHHEIT FOR BUZZFLASH AT TRUTHOUT
It was shown in a recent report that the richest Americans have made millions from their stock holdings since the recession.
It's getting worse. The facts are summarized here, and presented in greater detail at Us Against Greed.
1. Just 13 Americans Made More from Their Investments in 2013 than the Entire SNAP Budget
Some wealthy Americans like to refer to themselves as "makers," and food stamp recipients as "takers," even though most of the latter are children, the elderly, or low-wage workers. Many of the top 13 on the Forbes list did not make anything of significance in 2013. Yet by being heavily invested in the stock market they were able to take $80 billion among them, more than a year of food stamps for almost 50 million people.
2. The Richest 400 Took $300 Billion in 2013, Approximately the Entire Safety Net
The total budget for SNAP, WIC (Women, Infants, children), Child Nutrition, Earned Income Tax Credit, Supplemental Security Income, Temporary Assistance for Needy Families, and Housing is less than the $300 billion 'earned' by the Forbes 400.
WILL DURST FOR BUZZFLASH AT TRUTHOUT SATIRE
Avast me mateys. Off the starboard bow. Thar she blows. Looks like the Chris Christie juggernaut hit its first iceberg. And harpoons are flying in from multiple quarters. Back on the Jersey Shore, Hillary Clinton’s people and Rand Paul’s people are partying so loud and hard, Snooki and JWoww’s people are banging on doors demanding they keep it down
Rumors that Governor Juggernaut was a petty and vindictive bully have rattled across the borders of the Garden State for quite some time. So when it was revealed that aides shut down 2/3rds of the lanes on the George Washington Bridge to punish Fort Lee’s mayor for not endorsing him, it sounded as in character as the bolts on Baron von Frankenstein’s little buddy. Funny thing is, when you think of the porcine politico and major arteries being clogged, traffic patterns are not what springs to mind.
Christie, however, claims to have had nothing to do with the allegations. And attempted to prove it by getting rid of the guilty staffers quicker than a shower shank thrust to a snitch. If throwing people under a bus were an Olympic event, Chris Christie would be waving from the top of the podium wearing a double XL tracksuit in Russia next month. Fortunately, the bus was stuck in traffic and never moved.
DAVID SIROTA ON BUZZFLASH AT TRUTHOUT
Seven years before legal marijuana went on sale this month in my home state of Colorado, the drug warriors in President George W. Bush's administration released an advertisement that is now worth revisiting.
"I smoked weed and nobody died," intoned the teenage narrator. "I didn't get into a car accident. I didn't O.D. on heroin the next day. Nothing happened."
The television spot from the White House drug czar was intended to discourage marijuana use by depicting it as boring. But in the process, the government suggested that smoking a little pot is literally, in the words of the narrator, "the safest thing in the world."
Why is this spot worth revisiting? Because in light of what's happening here in Colorado, the ad looks less like a scary warning than a reassuringly accurate prophecy. Indeed, to paraphrase the ad, for all the sky-will-fall rhetoric about legalization, there haven't been piles of dead bodies and overdoses. Nothing like that has happened since we started regulating and taxing marijuana like alcohol.
Instead, as I saw during a trip to 3D Cannabis Center in Denver, it has been the opposite. There, I didn't find the mayhem predicted by so many drug warriors.
PAUL BUCHHEIT FOR BUZZFLASH AT TRUTHOUT
A recent New York Times article by economist Laurence J. Kotlikoff suggested that we "Abolish the Corporate Income Tax." His case for doing so, he explains, "requires constructing a large-scale computer simulation model of the United States economy as it interacts over time with other nations' economies." The computer determined that the tax cut would be "self-financing to a significant extent."
Big business hints at serious consequences if we don't comply with this lower tax demand. But abolishing the corporate income tax is not likely to reverse the long history of harmful corporate behavior. There are several good reasons why.
COMMUNICATIONS WORKERS OF AMERICA ON BUZZFLASH AT TRUTHOUT
Communications Workers of America President Larry Cohen today made the following statement in response to the bill introduced by Sen. Max Baucus and Rep. Dave Camp calling for “fast track” authorization for the Trans-Pacific Partnership (TPP):
“Fast track is the wrong track when it comes to a trade deal like the Trans-Pacific Partnership that will affect our laws, our jobs, our food and our environment. Fast track, also known as Trade Promotion Authority, forces Congress to give up its Constitutional right to amend and improve this trade deal, which now is reportedly more than 1,000 pages long.
“For nearly four years, the U.S. Trade Representative and TPP negotiators have purposely restricted participation and information, keeping members of Congress and citizen groups, unions, environmental and consumer organizations in the dark. There has been no opportunity for public interest groups to meaningfully participate in the negotiations, and under fast track authority, there will be no opportunity for our elected representatives to amend the deal and make it better for Americans."
JIM HIGHTOWER ON BUZZFLASH AT TRUTHOUT
What a Christmas little Bastrop had! It's still a mystery how Santa Claus got it down the chimney, but Bastrop got a nifty present that most children could only dream about: a big honkin', steel-clad, war toy called MRAP.
But Bastrop is not a 6-year-old child, and an MRAP is not a toy. Bastrop is a Texas county of some 75,000 people, and MRAP stands for "Mine-Resistant Ambush Protected." It's a heavily armored military vehicle weighing about 15 tons — one of several versions of fighting machines that have become the hot, must-have playthings of police departments all across the country.
Are the good people of Bastrop facing some imminent terrorist threat that warrants military equipment? No, it's a very pleasant, laid-back place. And while the county is named for a 19th century land developer and accused embezzler, it's never been a haven for particularly dangerous criminals — indeed, the relatively few crimes in Bastrop today don't rise above the level of routine police work.
WALTER BRASCH FOR BUZZFLASH AT TRUTHOUT
It's been about two weeks since the news media began smothering the nation with stories about UPS and FedEx delivering packages late during the holiday season.
A short shopping season of less than 30 days between Thanksgiving and Christmas, combined with extraordinary numbers of deliveries and extreme weather problems caused thousands of packages not to be delivered by Christmas. For some media, this was the top story.
FedEx says it delivered more than 275 million packages in that one month period. UPS doesn't say how many it delivered or how many were late. But it does say that if customers sent their packages by ground and hoped they would arrive by Christmas, the cut-off date was December 11. For air service, UPS temporarily added 29 planes to its fleet.
PAUL BUCHHEIT FOR BUZZFLASH AT TRUTHOUT
The fear of running out of money in retirement is America's greatest financial concern. It's a fear greater than death.
But the American workers who have paid all their lives for retirement security are being cheated by wealthy individuals and corporations who refuse to meet their tax obligations, and who have found other ways to keep expanding their wealth at the expense of the middle class.
1. Federal Tax Avoidance Is the Biggest Threat to Social Security
Conservatives say that Social Security is too expensive, and that cutbacks and a later retirement age are necessary. But they refuse to acknowledge the facts about missing revenue. Annual tax avoidance by wealthy individuals and corporations is in the trillions of dollars, over double the cost of Social Security.
BILL QUIGLEY FOR BUZZFLASH AT TRUTHOUT
Swaddled in Baby Gap, little Jesus appears to be crying. Mary tries to gently rock him in her hands, certainly a great moment to remind viewers that you are in good hands with Allstate.
The carpenter Joseph is trying to protect Mary and Jesus; he could certainly use the system he just won from our sponsor ADT. The cow you see behind them is brought to you by ConAgra, the donkey by Halliburton. The angels on high in the sky, magnificent 3D computer generated imagery, are from Pixar. Walt Disney has remixed the angel songs so they sing praise to the shopping opportunities this event has created.
Earlier, there were reports of shepherds in the area but ICE agents stopped and frisked them and are now herding them on your right into the Fox News freedom of expression fenced off area. Some appear to be singing a protest song about peace on earth. Over on the left, a panel of MSNBC experts are talking about the shepherds and talking about the shepherds and talking about the shepherds.
PAUL BUCHHEIT FOR BUZZFLASH AT TRUTHOUT
At a time of year when we're inclined to show empathy for people less fortunate than ourselves, some of our top business leaders are notable for comments that show their disdain for struggling Americans. Their words may seem too outlandish to have been uttered, or inappropriately humorous, but all the speakers were serious.
1. Environmental Wisdom from Exxon and Monsanto
Rex Tillerson, CEO of Exxon, which has used tobacco industry tactics to cast doubton climate change, summed up the whole environmental issue with his own unique brand of logic: What good is it to save the planet if humanity suffers?
Monsanto has no such moral compunctions over corporate social responsibility. A company director once said, Monsanto should not have to vouchsafe the safety of biotech food. Our interest is in selling as much of it as possible. While Monsanto, according to Food & Water Watch, has "wreaked havoc on the environment and public health" with PCBs, dioxin, and other dangerous chemicals, the company reported in its most recent financial report to the SEC: We are committed to long-term environmental protection.
2. The Art of Delusion: How Business People Fool Themselves
This starts, fittingly, at McDonald's, where a company representative vigorously defended his burgers and nuggets: We don't sell junk food...We sell lots of fruits and veggies at McDonald's...And we are not marketing food to kids.
Next, on to a company that hides overseas earnings, avoids federal & state taxes, makes $400,000 per employee, pays its store workers an average of about $12 per hour, pays its CEO $143 million a year, and operates overseas factories with working conditions that, according to the Economic Policy Institute, "reflect some of the worst practices of the industrial era." Their CEO Tim Cook says, Apple has a very strong moral compass.
Such delusional heights are also reached in the financial industry, where Goldman Sachs CEO Lloyd Blankfein is doing God's work, his colleague Brian Griffiths feels that we have to tolerate the inequality as a way to achieve greater prosperity and opportunity for all, and Ponzi Scheming JP Morgan's Jamie Dimon is not only not embarrassed to be a banker, but also proud of the company that he works for.
3. Talking Down to the Down & Out
It's hard to choose the most insensitive and condescending remark from people who seem to lack empathy for the less fortunate. Perhaps hedge fund manager Andy Kessler, who addressed the issue of why these homeless folks aren't also working. Ignoring the National Coalition for the Homeless conclusion that homelessness is caused by (1) a shortage of affordable rental housing, and (2) a lack of job opportunities, Kessler suggests they're homeless because someone is feeding, clothing and, in effect, bathing them.