Terrance Heath

Hometown:	Chevy Chase, MD
Interests:	Health Care for All, The Big Con, Quality Education, Progressive Vision, gay, vegetarian
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Terrance's Voice

Published Put A Ring On It: The Economics of Equality (Blog entry)
February 9, 2012 - 1:40am
In my previous post, I wrote that I'm likely to hear an old favorite conservative talking point repeated over and over again while I'm at CPAC: Married cures poverty, economic inequality, and just about any other economic complaint you can name — especially for black folks. The 9th circuit court's ruling that California's Proposition 8 — which prohibited same-sex marriage in the state — is unconstitutional guarantees I'll hear a lot about same-sex marriage while I'm at CPAC.

What I won't hear at CPAC, besides any specific plans for job creation, is how declining marriage rates are not to blame for economic decline, but economic decline is really to blame for declining marriage rates. I won't hear that the best way to increase marriage rates is improve Americans' economic prospects by growing the economy and putting people back to work. I probably also won't hear that marriage would actually improve the economic standings of one group of Americans: gay couples.
Published Put A Ring On It: The Economics of Marriage (Blog entry)
February 8, 2012 - 11:42pm

"You gotta have a J-O-B, if you wanna be with me."

- Gwen Guthrie, "Ain't Nothin' Goin' On But The Rent"

I'm off to cover CPAC tomorrow, where — in light of a federal court ruling California's Proposition 8 unconstitutional — I'm likely to hear a favorite conservative talking point repeated: Marriage cures poverty, unemployment, and another economic problem. Ask any conservative, and they'll tell you as much — even though that particular talking point has no basis in reality.
Published Shellacked, Mitt Fights Back (Blog entry)
February 8, 2012 - 2:06pm
Funny how things change. When Herman Cain and Rick Perry imploded in one week last November, Jon Stewart called Mitt Romney "the luckiest motherfudger on Earth." That was before last night's "shellacking," when Rick Santorum trounced Romney in Minnessota, Missouri, and Colorado — three states that Romney won in 2008. Whupped by the same guy who snatched away his Iowa caucus victory, it safe to say Romney is no longer "the luckiest motherfudger on Earth." That title may pass to another 2012 presidential candidate.

To his credit, Romney isn't taking this latest humiliation lying down. He's hitting Santorum with the "Washington Insider" label — and it's likely to stick.
Shared Keep Pushing On Jobs, Mr. President (Progressive Opinion)
February 8, 2012 - 11:36am
The January jobs report — 243,000 jobs added — was greeted with widespread relief. The economists over at the Wall Street Journal were virtually giddy. The best news of the day was not just the upside surprise of the jobs numbers, but the reaction of President Obama. He joined commentators in hailing the good news: “the economy is growing stronger. The recovery is speeding up.” But he wasn’t proclaiming “recovery winter,” a reference to the ruinous White House plan to campaign on the recovery in the summer of 2010, after prematurely turning to deficit reduction in the State of the Union that year. Instead, the president greeted the jobs report by pushing for more action. “We must do everything in our power to keep it [jobs growth] going.” This stance is both good policy and good politics.
Published Washington's Inside Game (Blog entry)
February 7, 2012 - 3:55pm
Just in case you missed the news, "Insider trading" is back. It's even bipartisan. Well, the truth is that it never really went away after its heyday during the 1980s, when Gordon Gekko served as a stand-in for era villains like Michael Milken and Ivan Boesky. It launched more investigations in the 1990s than at any other time, except for the 1980s.

In the "aughts," the names and players changed, but the "inside game" remains the same. Now, Raj Rajaratnam and Martha Stewart serve as stand-ins for Milken and Boesky. Gekko even returned to the scene, getting out of prison little more than year before Rajaratnam began serving his own prison sentence. GOP presidential candidate Mitt Romney could even be called a stand-in for Gordon Gekko, in the 2012 presidential election. (But Newt Gingrich could be a runner-up for that spot.)

Not only are insider trading and inside traders back, but they're not just on Wall Street anymore. They're all over Capitol Hill, and apparently have been for a while. Naturally, now that it's news, there's a bill to ban congressional insider trading —the Stop Trading On Congressional Knowledge Act, a/k/a the STOCK Act.
Shared Pass the Romney Rule! (Progressive Opinion)
February 7, 2012 - 1:00pm
The U.S. tax code: Never has so much been done by so many for so few who need so little. The recent public debate about the inequities built into the tax code — triggered by the disclosure of Mitt Romney’s tax returns — is all for the good. So is the call for a “Romney rule” mandating that capital gains be treated as ordinary income, and so be subject to the same top marginal rate of 35 percent that applies to ordinary income, rather than the current top rate of 15 percent. But we shouldn’t raise the capital gains tax just because it’s a popular idea. The rate should rise for philosophical, economic, and political reasons, as several colleagues and I argued in a recent debate at the Maxwell School of Public Policy at Syracuse University.
Published Newt vs. Mitt: Mutual Assured Destruction, Pt. 2 (Blog entry)
February 6, 2012 - 3:20pm

I wrote earlier that Newt Gingrich's campaign is one of mutually assured destruction for the GOP. No one, I wrote, has to lift a finger to destroy Newt Gingrich. Just stand back, give him room, and he'll do it himself. The thing is, you want to stand way, way back — otherwise Newt's liable to try and take you with him. The problem for the GOP is that they can't put enough daylight between themselves and Newt. And even if they manage to do that, they're still stuck with Mitt.

The latest self-destruction of Newt Gingrich will be televised. If he's able to carry on after losing the Nevada Primary to Mitt Romney, and make good on his promise to campaign all the way to the convention in Tampa, we can look forward to more performances like his post-Iowa temper tantrum, his post-Florida flame-out, and his bizarre concession-speech-cum-press-conference after Nevada.
Published Citizens United: Uniting the One Percent (Blog entry)
February 2, 2012 - 3:34pm
MItt Romney is taking a lot of heat for saying that he's "not concerned about the very poor." To be fair, he also said he's not concerned about the very rich either. Lucky for him the feeling isn't mutual that that side of the economic divide. According to recent FEC filings, the very rich are very concerned with Mitt Romney's campaign for his party's presidential nomination. And why shouldn't they be concerned? After all, some of them are Mitt's friends and former colleagues.
Published Newt's Mutual Assured Destruction, Pt. 1 (Blog entry)
January 30, 2012 - 2:32pm
At the risk of repeating myself, my response to the Romney campaign staffer who summed up the Florida primary by saying "It's about destroying Gingrich," is the same as my response to Sarah Palin's claim that the "liberal media" and "the establishment" were out to destroy Newt Gingrich: Nobody needs to lift a finger to destroy Newt. All you have to do is sit back, give him room, and let him do it himself.

In fact, Newt's accomplishing his own destruction just by his dogged determination to stay in the race all the way to convention, and he's threatening to take his party down with him.
Published Newt Defeats Newt... With A Little Help From His Friends (Blog entry)
January 27, 2012 - 2:12pm
Another GOP debate as come and gone, and there's a clear consensus on who won and who lost this round. After two fabulously bombastic debate performances, Newt Gingrich was defeated by the one man he can never seem to beat: himself.

Ultimately, Newt's problem is just being Newt. It always has been, because the real Newt bears a strong resemblance the one portrayed in his opponents attack ads.

Terrance Heath

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