The Republicans have been saturating the airways with the story that the economy is in bad shape. This summation seems to have resonated with a share of the electorate. A recent CBS News poll found that 65 percent of Americans remember the economy being good under former President Trump while only 38 percent rate the current economy under Biden as positively[1]. … Read the rest
Category: Economy
Do People Know about Trump’s Proposed Program Cuts?
Trump’s Proposed Social Program Cuts
Trump’s 2020 budget slashes the safety net programs. Because this budget will not make it out of the House, it is not getting much attention. However, it tell us a great deal about Trump’s values and how he is trying to transform Federal spending. … Read the rest
TRUMP’S BUDGET: HIS DYSTOPIAN VISION FOR AMERICA
You really should read the 2020 budget
Packaged duplicitously as forwarding self-sufficiency, Trump’s budget proceeds to cut every safety-net program we have to the bone. There is no added money for job training or acknowledgement that so many reliant on these programs are disabled, elderly, or struggling with addiction. … Read the rest
What Level of Defense Spending is Enough?
2020 Budget proposal
President Trump is getting ready to propose his budget for 2020. It is expected that he will ask for a 5-percent across-the-board cut for all programs other than defense. At first pass, this may sound reasonable but if you dig a bit deeper, a different picture emerges.… Read the rest
Capitalism, Income Inequality, and Taxes
Capitalism is the best economic system that has ever existed. Although a bold statement, Capitalism efficiently allocates goods and services. When Adam Smith wrote of the market’s “invisible hand” in Wealth of Nations in 1776, he argued that humans’ natural tendency toward self-interest results in prosperity.… Read the rest
High Marginal Tax Rates: A Radical Policy or a Return to Our Past?
Our current tax rates
Merrian-Webster defines radical as: very different from the usual or traditional: Extreme (Webster). Conservatives have labeled Alexandria Ocasio Cortez’s proposal for a 70 percent marginal tax rate on income over 10 million dollars as radical. However, the reality is that the tax rates we have now are radical.… Read the rest
Dark Clouds on the Economic Horizon?
You will all be rich
If you believed Donald Trump’s claim that we’d all become rich under his presidency, you’re in for some sobering economic reality. In the first year, after the Republican supercharged the economy with a big tax cut, it all looked good.… Read the rest
Living in the Shadow of the Shutdown
The View From Below
On Christmas day, in an angry moment, I posted the following tweet.
https://twitter.com/Politicaleye3/status/1077687491577159680
To my surprise, this tweet resonated with people and I was even contacted by two reporters.
The Current Situation
This has compelled me to post about what is happening regarding the shutdown from an inside perspective. … Read the rest
In Defense of the Republican, Non-Economist Fed Chair
Jerome Powell would not have been my first pick for Federal Reserve Chairman. First, he is a lawyer rather than economist. He became an investment trader and is a Wall Street insider. Second, he is a life long Republican who served in the Bush administration. … Read the rest
Can’t Afford a 2.1% Pay Raise for Federal Workers?
I am not sure where the President learned math, but his fiscal policies do not add up, literally. He gave a $1.4 trillion tax cut (over 10 years) primarily to the rich. He has spent like there is no tomorrow (i.e.… Read the rest