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House Democrats are scared to tax billionaires – that’s a costly mistake | Robert Reich

You might also have assumed Democrats would target America’s biggest corporations, awash in cash but paying a pittance in taxes. Thirty-nine of the S&P 500 or Fortune 500 paid no federal income tax at all from 2018 to 2020 while reporting a combined $122bn in profits to their shareholders. But remarkably, House Democrats have decided to set corporate tax rates below the level they were at when Barack Obama was in the White House. Democrats even kept scaled-back versions of infamous corporate loopholes such as private equity’s “carried interest”. And they retained special tax breaks for oil and gas companies.

Republicans sold their souls to the moneyed interests long ago, but the timidity of House Democrats shows just how loudly big money speaks these days even in the party of Franklin D Roosevelt.
At the end of the day, they are all the same, whether at the time they put a D or R on their title. All smoke screens
 
The Economic Mistake Democrats Are Finally Confronting Opinion | The Economic Mistake Democrats Are Finally Confronting

Supply-side progressivism shouldn’t just fix the problems of the present, it should hasten the advances of the future. A problem of our era is there’s too little utopian thinking, but one worthy exception is Aaron Bastani’s “Fully Automated Luxury Communism,” a leftist tract that puts the technologies in development right now — artificial intelligence, renewable energy, asteroid mining, plant and cell-based meats, and genetic editing — at the center of a post-work, post-scarcity vision.

In a world where two-thirds of emissions are now coming from middle-income countries like China and India, the only way for humanity to both address climate change and poverty is to invent our way to clean energy that is plentiful and cheap, and then spend enough to rapidly deploy it.

In a blog post, Jared Bernstein, a member of President Biden’s Council of Economic Advisers, and Ernie Tedeschi, a senior policy economist for the council, framed the Biden agenda as “an antidote for inflationary pressure” because much of it expands the long-term supply of the economy.
 
Your thinking that a Leaf is a death trap compared to a 1990 minivan is mostly irrational.
That being said, I support your decision to keep it. Definitely the best environmental choice for your unique situation.
Reminds me of...

billy to school (1).jpg

Perceived safety has been the excuse to keep displacing ourselves in cars that grow bigger with each new model.
 
House Democrats are scared to tax billionaires – that’s a costly mistake | Robert Reich

You might also have assumed Democrats would target America’s biggest corporations, awash in cash but paying a pittance in taxes. Thirty-nine of the S&P 500 or Fortune 500 paid no federal income tax at all from 2018 to 2020 while reporting a combined $122bn in profits to their shareholders. But remarkably, House Democrats have decided to set corporate tax rates below the level they were at when Barack Obama was in the White House. Democrats even kept scaled-back versions of infamous corporate loopholes such as private equity’s “carried interest”. And they retained special tax breaks for oil and gas companies.

Republicans sold their souls to the moneyed interests long ago, but the timidity of House Democrats shows just how loudly big money speaks these days even in the party of Franklin D Roosevelt.
More like there are Republicans and 3/4 Republicans in power these days.
 
Most people assume that leading a less consumptive, less environmentally damaging lifestyle will be "lower quality".
I'm a firm believer in Fully Automated Luxury Communism so look for the advantages of having to earn and spend less of environmentally damaging goods and activities and being able to spend more time on quality activities.

Fully Automated Luxury Communism: A Manifesto​


Walkaway - Cory Doctorow
What's the point of displacing yourself in a luxury SUV when it gets you stuck in traffic.
The result? Loss of time, aggravation. Needlessly hindering and endangering more vulnerable road users.

suv girl (1).jpg
 
Happy Birthday, Occupy Wall Street

The American Dream, the idea that if you worked hard enough you could get ahead, was supposedly achievable by anyone. If you suggested otherwise, you were waging “class warfare” and probably a communist. There was, in the words of Margaret Thatcher, no alternative to unfettered capitalism. (Democrats seemed to agree!) But three years after the financial meltdown in 2008, it was clear we needed an alternative. The political leadership of both parties had failed to hold anyone meaningfully accountable for what happened. “Banks got bailed out,” as Occupy’s chant went, to the tune of hundreds of billions of dollars, and “we got sold out” with no relief provided to struggling homeowners or other working people who lost their savings overnight.

With Occupy, finally someone was saying “enough.” Like all social movements, it was an indicator of widespread strain and popular grievances. That’s why its language of the “99 percent versus the 1 percent” is still very much part of the popular vernacular, and Occupy’s critique of the consolidation of wealth and political power in our society has been a lens through which millions have interpreted the events of the past decade. Maybe the Occupiers looked a little strange, but at least someone was standing up to the ****ers at the top

Biden and Schumer seem to grasp that if they do not deliver substantially and visibly for working people, they will be toast in 2022 and 2024. (Surely it doesn’t hurt that Schumer has the very possible threat of a primary challenge from AOC in the back of his mind.) There’s also the small matter that, compared to five years ago, the threat of authoritarian consolidation of the political system in the next two to four years is no longer a wild hypothetical that chicken littles (who have understood the populist moment better than Democrats) warn about.
 
Happy Birthday, Occupy Wall Street

The American Dream, the idea that if you worked hard enough you could get ahead, was supposedly achievable by anyone. If you suggested otherwise, you were waging “class warfare” and probably a communist. There was, in the words of Margaret Thatcher, no alternative to unfettered capitalism. (Democrats seemed to agree!) But three years after the financial meltdown in 2008, it was clear we needed an alternative. The political leadership of both parties had failed to hold anyone meaningfully accountable for what happened. “Banks got bailed out,” as Occupy’s chant went, to the tune of hundreds of billions of dollars, and “we got sold out” with no relief provided to struggling homeowners or other working people who lost their savings overnight.

With Occupy, finally someone was saying “enough.” Like all social movements, it was an indicator of widespread strain and popular grievances. That’s why its language of the “99 percent versus the 1 percent” is still very much part of the popular vernacular, and Occupy’s critique of the consolidation of wealth and political power in our society has been a lens through which millions have interpreted the events of the past decade. Maybe the Occupiers looked a little strange, but at least someone was standing up to the ****ers at the top

Biden and Schumer seem to grasp that if they do not deliver substantially and visibly for working people, they will be toast in 2022 and 2024. (Surely it doesn’t hurt that Schumer has the very possible threat of a primary challenge from AOC in the back of his mind.) There’s also the small matter that, compared to five years ago, the threat of authoritarian consolidation of the political system in the next two to four years is no longer a wild hypothetical that chicken littles (who have understood the populist moment better than Democrats) warn about.
Biden HAS to know that he could not physically handle the rigors of a regular primary season, much less a competitive presidential election in '24. He's a one-term Prez, so looking towards legacy now. Will he be transformational, or end up like Jimmy Carter? Shumer is the ultimate insider, a pol more interested in keeping his job (and power) that actually doing much substantial nationally (just than bringing home more bacon to NY). Definitely looking over his shoulder about a challenge from AOC, so he is all-in on whatever she says. And he will remain that way, at least until after next year's NY primary.
 
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Will taxpayers bear the cost of cleaning up America’s abandoned oil wells?

But powerful special interests have carved out a presence in federal well-plugging efforts – one of the most bipartisan corners of Joe Biden’s $1tn infrastructure bill, which is due for a vote later this month. Instead of requiring fossil fuel companies to cover the actual cost of drilling and cleanup, policy experts say the proposal is an additional multibillion-dollar subsidy for the industry most responsible for driving the climate crisis.

Upset landowners and advocates say lax regulations have long let companies get away with covering just a fraction of the actual cost of plugging wells. In Colorado, for instance, state regulators require producers to post a $10,000 to $20,000 bond to cover the future expense of sealing off a well they drill, when the true cost is closer to $140,000 a pop, according to the thinktank Carbon Tracker. In other states, such as Texas, total costs top $100bn.
 
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Opposition from a single moderate Democrat to corporate and income tax rate increases has revived efforts in the Senate to draft a tax on carbon dioxide pollution as a way to pay for the Democrats’ proposed $3.5 trillion budget bill.
 
Why corporate social responsibility is BS | Robert Reich

Since then, the Roundtable and its members have issued a continuous stream of jejune statements about their dedication to such things as providing childcare, pre-K and affordable healthcare, promoting community college and workforce training, alleviating poverty and reversing climate change. It turns out these are exactly the priorities in Joe Biden’s $3.5tn reconciliation bill. But guess what? The Business Roundtable isn’t lobbying for the bill. It’s lobbying intensely against it.

The specific people who enter those contracts (on behalf of big corporations as well as thousands of people who run vast investment funds on behalf of millions of shareholders) are neither greedy nor socially responsible. They’re merely doing what they understand to be their jobs. Greed and social responsibility have been laundered out of these transactions.
 
‘Green growth’ doesn’t exist – less of everything is the only way to avert catastrophe | George Monbiot

Everywhere, governments seek to ramp up the economic load, talking of “unleashing our potential” and “supercharging our economy”. Boris Johnson insists that “a global recovery from the pandemic must be rooted in green growth”. But there is no such thing as green growth. Growth is wiping the green from the Earth.

What would we see if we broke down our conceptual barriers? We would see a full-spectrum assault on the living world. Scarcely anywhere is now safe from this sustained assault. A recent scientific paper estimates that only 3% of the Earth’s land surface should now be considered “ecologically intact”.

We have no hope of emerging from this full-spectrum crisis unless we dramatically reduce economic activity. Wealth must be distributed – a constrained world cannot afford the rich – but it must also be reduced. Sustaining our life-support systems means doing less of almost everything. But this notion – that should be central to a new, environmental ethics – is secular blasphemy.
 
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Sanders urges progressives to stand firm in Democratic battle over Biden agenda

With the Democratic party locked in a bitter struggle over two massive legislative bills that could make or break the Biden presidency, Sanders said the outcome of the next few weeks would be critical not just for the future of American working families but also for the country’s political future. “This is a test of whether American democracy can work,” he said in a fiery interview with ABC News’s This Week. “I hope and expect that the Democratic party and the president – I know he will – will stand firm.”

He told This Week: “We are not just taking on senators Manchin and Sinema, we are taking on the entire ruling class of this country. Right now the drug companies, the health insurance companies, the fossil fuel industries are spending hundreds of millions of dollars to prevent us doing what the American people want.”
 
California experiments with social democracy

California is, in effect, testing long-held beliefs of those on the political left that America should move closer to the European model of “social democracy” by expanding supportive public services and empowering workers in their dealings with employers. The former include increasing eligibility for Medi-Cal, the state’s health care system for the poor which already covers more than a third of California’s residents, expanding early childhood education to both improve learning outcomes and free more parents to work, and increasing spending on housing for low- and moderate-income families. The latter is a variety of bills that impose new workplace and compensation standards on industries that employ large numbers of low-paid workers, most notably garment production, agriculture and the ever-increasing distribution centers operated by Amazon and other big corporations.
 
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How Other Nations Pay for Child Care. The U.S. Is an Outlier. How Other Nations Pay for Child Care. The U.S. Is an Outlier.

In the developed world, the United States is an outlier in its low levels of financial support for young children’s care — something Democrats, with their safety net spending bill, are trying to change. The U.S. spends 0.2 percent of its G.D.P. on child care for children 2 and under — which amounts to about $200 a year for most families, in the form of a once-a-year tax credit for parents who pay for care.
 
"China and Europe are firing up coal- and oil-fed plants"

Seems "lead and they will follow" is not working. But at least they are part of the Paris Climate Agreement.



The U.S. spends 0.2 percent of its G.D.P. on child care for children 2 and under — which amounts to about $200 a year for most families, in the form of a once-a-year tax credit for parents who pay for care.
President Biden says annual $3000 to $3600 refundable tax credit PER CHILD for children under the age of 17. Paid MONTHLY.

So we seem to have two sources saying VERY different things. Everyone can do their own research to decide whether the NYT or President Biden is lying to us.
 
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We haven't really been leading yet and we just got back into the Climate Agreement.
Agreed. Thankfully we are not firing up coal and oil plants like they are. If we were in China's or Europe's situation, my guess is we would also be firing up old coal plants. NG prices are up in the US, but not like in Europe or China.

Also, burning NG is better than coal or oil, but it is still fossil fuel. They are switching from bad to worse.

The problem with the Climate Agreement is non-binding emissions reduction commitments in out-years, most of which will only be met if economically beneficial to the country. Most countries will do the same thing they have done in the past - use the cheapest source of energy.
 
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