Photo credit: @julesdwit.
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Christopher Hayes, editor-at-large of The Nation and host of "Up With Chris Hayes" on MSNBC, discusses the latest in politics and Paul Ryan's budget proposal.
"Squeezing inefficiencies" out of any system is on paper a great solution. The problem is - when applied in Biz, or even Govt - someone has to profit from the squeezing. If not, no one will squeeze.
Plus, the term inefficiencies have been made to include Wages. So the results were outsourcing, off-shoring, downsizing, etc...to cut down on the inefficient wages that interfered with profits.
The American Biz Culture hates having to pay wages that don't go to the top 5-8% of their companies.
Republicans are disgusted because the issue is not can/should women take birth control, but should a religious organization be forced to pay for it.
Rather than go past the revenue generating peak tax rate of 18% flat to 28% (where revenue drops)for capital gains, let's lower the ordinary income tax on wages to 18%, including the 15% to Social Security.We can more than the tax revenues by not giving welfare to super rich bankers:16.1 Trillion $ by the Federal Reserve since 2007 to:
Citigroup: $2.5 trillion($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion* ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000) Federal Reserve's nearly 100 year history was posted on Senator Sander's webpage. http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3
For FY13, the Fed budget spends $3.6T ($1.3T borrowed). We need to curb spending, we need to raise revenue, that is raise taxes. I do not buy the argument that we cannot raise income taxes without pushing a weak economy into recession. Appropriately designed to target higher income earners and NOT severely impact aggregate demand, we can have a balanced budget. And once we get one, let's not let the GOP piss it away.
As long as hospital personnel don't use having hand sanitizer dispensers as an excuse not to wash their hands--they still need to do that.
And the title/subtitle of Mr. Hayes's book is confusing. It sounds as if the elites are there because of their merit, but his answer to Brian's q. didn't sound that way.
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