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When government taxes you, it’s common sense. When government taxes me, it is socialism. Norquist Tells GOP That Raising Taxes On The Middle Class Doesn’t Count As A Tax Increase | ThinkProgress

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Manufacturing activity is contracting across Europe and most of Asia, data showed on Thursday, and a Chinese official declared that the world economy faces a worse situation than in 2008 when Lehman Brothers collapsed. Factories stall worldwide, U.S. jobless claims rise Of course I expect that the flat-earth economists to declare that this is due… Continue reading Untitled

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a study from Robert Pollin and Heidi Garrett-Peltier finds that defense spending does indeed create jobs under recession conditions but that “$1 billion spent on each of the domestic spending priorities will create substantially more jobs within the U.S. economy than would the same $1 billion spent on the military” with “investments in clean energy,… Continue reading Untitled

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“The House under Republican rule consists half of people who think like Michele Bachmann and half of people who are afraid of losing a primary to people who think like Michele Bachmann” – Barney Frank: From zombietwain

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If there was violence at Target the right-wing talking heads would be on Fox blaming it on the horror of liberalism and the liberal media. Violence at red-state retailer Wall-Mart and no one suggests that it could possibly be related to the glorification of violence and the gun culture seen in red states?

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The average Bush tax cut in 2011 for a taxpayer in the richest one percent is greater than the average income of the other 99 percent ($66,384 compared to $58,506). The Average Bush Tax Cut For The 1 Percent This Year Will Be Greater Than The Average Income Of The Other 99 Percent | ThinkProgress

Huntsman and the GOP Debate on Too Big To Fail

There are a series of proposals, mostly surrounding taxes and caps on size, leverage and presumably complexity. The first bullet point, a cap on size relative to GDP, is similar to the SAFE Banking Act, which failed in the 2010 Senate with 33 votes. They all sound like good ideas, though they received little-to-no GOP… Continue reading Huntsman and the GOP Debate on Too Big To Fail

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If CRA is the caused of the housing bubble, why did countries without the CRA have housing bubbles? (via The Bonddad Blog: About that GSE/CRA Causing the Bubble Argument ….)

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The appetite of red states for federal subsidies mocks the tirades of their politicians against the federal government. In March 2008, on the verge of the Great Recession, 22 Republican states were net recipients of federal subsidies, while only 10 Democratic-leaning states were. Sixteen blue states were net payers of federal taxes, compared to only… Continue reading Untitled