Two recent movements have transformed the political landscape. The Occupy movement literally operates in the light of day. The other movement operates in secrecy, with money as its "speech" rather than ... well, you know, speech.
The American public provided hundreds of billions to bailout Wall Street during the global fiscal crisis yet bore the brunt of the crisis with lost jobs and reduced household wealth. This is a phenomenally wealthy nation, yet our tax and regulatory system allowed the financial titans to amass great riches while impoverishing the systems that enable inclusive prosperity. A financial transaction tax protects our financial markets from speculation and provides the revenue needed to invest in the education, health and communities of the American people.
Mitt Romney was caught on video complaining that 47% of us don't make enough to pay taxes, believe they are victims, are dependent on government, etc. The right question is why do so many of us make so little?
Moving Jobs To Places Where People Don't Have A Say
When this issue of the 47% not paying any federal income taxes (who also, apparently are the only ones voting for Barack Obama) came up in the GOP primary, Romney complained that "everyone needs to pay their fair share." Coming from a man who refuses to tell the American people whether he's paid his fair share is pretty rich.
Here's a good chart that explains how this breaks down:
Republicans in two Congressional committees voted last week to press forward with legislation that would deny states the flexibility they requested to help more welfare recipients get jobs.
I wrote the following last month after the Senate voted on competing tax plans, but it also helps to put Mitt Romney's "47%" comments in further context.
Last week, a coalition of housing, civil rights, and consumer protection groups issued an open letter to President Obama and Governor Romney asking what they would do, specifically, to address the housing crisis in America, and seeking a meeting to share best practices from around the country. Readers can add their voices to this request by joining the Home for Good campaign. more »
Pollsters keep telling us that the public wants action on jobs, a higher tax rate for millionaires, and protection for Social Security and Medicare. Our best economists keep reminding us that job creation should be government's top priority. more »
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