I wrote earlier how pleased I was to see a competition to find ways to raise taxes on the wealthy, that in addition to congresswoman Alexadria Ocasio-Cortez’s plan to raise the marginal income tax on incomes over $10 million to 70%, senator Elizabeth Warren proposed a tax on wealth in which a 2% annual tax would be levied on all household net worth above $50 million, with an additional 1% surtax for above $1 billion in income.
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A new report from ProPublica says that Purdue Pharma, a major manufacturer of opioids such as OxyContin that was founded by the Sackler family, aggressively marketed them in ways that led to addiction and is now also trying to profit from drugs that seek to combat addiction or reverse the effects of overdoses. In other words, they want to benefit both ways from addiction, first by causing it and then selling treatments for the problem that they continue to cause. This information came from a filing in a case against the company
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Fresh from the debacle of backing down after his absurd decision to shut down the government because of his demand that Congress fund his stupid wall, Donald Trump faces the issue of what he can do to get his funding before the next deadline of February 15. Now the person who harshly criticized him during the 2016 campaign but has since become an grotesquely obsequious toady, senator Lindsey Graham, says that he is advising Trump to tie wall funding to the raising of the debt-ceiling, another long-standing favorite for hostage taking.
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Howard Schultz, the founder of Starbucks coffee, wants to run for president as an independent because (surprise!) the billionaire dislikes the 70% marginal tax rate proposed by Alexandria Ocasio-Cortez. He also hates the Medicare for All platform and even wants to cut Social Security and Medicare. In other words, a card-carrying member of the greedy oligarchy, the kind of Ayn Rand acolyte that former speaker Paul Ryan drools over.
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Alexandria Ocasio-Cortez’s proposal to raise the marginal income tax rate for incomes over $10 million to 70% has sparked a huge amount of interest in general and also alarm among the wealthy. Much of the discussion has focused on how much revenue it might raise. But as Vanessa Williamson writes, the main purpose of such a tax is not to raise revenue but to reduce inequality, and that those who focus on the former are missing the point.
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As more and more people try to monetize YouTube fame, they are resorting to ever more dangerous acts. We see that in the case of so-called ‘First Amendment Auditors’. These are people who use their First Amendment rights to deliberately provoke police officers in public and actively seeking a hostile response, record the resulting encounter, post the videos on the internet, and make money from the views they generate.
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That things are a shambles in both the US and the UK is obvious. But I want to step back a bit from the immediate issues and look at how in both countries, political norms have been breached that may not be recoverable. In the US, we now have a president who shamelessly and repeatedly utters lies that are known to be lies even as he speaks. He is also corrupt and has surrounded himself with corrupt family and government officials and private advisors. And yet his party supports him and is willing to find excuses for his outrageous behavior.
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It seems like the UK is heading towards the March 29 deadline without any real progress towards a deal with the European Union. If no deal is reached by then and no extension has been negotiated, then the UK will crash out of the EU and there are fears of massive disruptions as suddenly border controls will have to be imposed at least across the English Channel, one of the main routes for commerce between UK and Europe. There are fears that this will lead to loss jobs due to businesses shifting operations to Europe and all manner of shortages, and people are stocking up on food and medicines in fear.
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Kristin Hook is a scientist working for the government who was furloughed. She decided to use her unwanted ‘free time’ to research into the actual claims that are being made to justify the building of a wall, such as that there is a crisis along the southern border that can only be met with a wall. She says that there are three elements to the argument for the wall.
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It is ridiculous for the US government to keep lurching from one shutdown (or the threat of one) to the next and the last one was utterly insane, based as it was on a personal obsession of Donald Trump to get an unworkable solution to a manufactured crisis. In the end, absolutely nothing was achieved but many ordinary people were hurt. The stress that such shutdowns causes extend well beyond the federal employees actually furloughed. I think that fiasco has finally caused members of both parties to realize that something must be done to prevent the government repeatedly being held hostage over increasingly trivial policy disagreements.
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