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View Diary: It’s the New Deal! For Banks! (12 comments)

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  •  Have you read (2+ / 0-)
    Recommended by:
    jimreyn, papicek

    "All tyranny needs to gain a foothold is for people of good conscience to remain silent."T.J.

    by smkngman on Sun Jun 20, 2010 at 09:44:43 AM PDT

    •  there's practically no evidence... (4+ / 0-)

      to support the notion that preferential tax treatments for business does anything for employment and development:

      "There is little evidence that state and local tax cuts – when paid for by reducing public services – timulate economic activity or create jobs. There is evidence, however, that increases in taxes, when used to expand the quantity and quality of public services, can promote economic development and employment growth."

      link (pdf)

      It's just that business keeps asking for tax breaks, and they usually get them.

      What has a "political realist" done for you lately?

      by papicek on Sun Jun 20, 2010 at 10:15:26 AM PDT

      [ Parent ]

      •  Forgotten Man (3+ / 0-)

        "What we must do is this: To revise our tariff on the basis of a reciprocal exchange of goods, allowing other nations to buy and to pay for our goods by sending us such of their goods as will not seriously throw any of our industries out of balance, and, incidentally, making impossible in this county the continuance of pure monopolies which cause us to pay excessive prices for many of the necessities of life.

        Such objectives as these three—restoring farmers' buying power, relief to the small banks and homeowners and a reconstructed tariff policy—these are only a part of ten or dozen vital factors.

        But they seem to be beyond the concern of a National Administration which can think in terms only of the top of the social and economic structure. They have sought temporary relief from the top down rather than permanent relief from the bottom up. They have totally failed to plan ahead in a comprehensive way. They have waited until something has cracked and then at the last moment have sought to prevent total collapse.

        It is high time to get back to fundamentals. It is high time to admit with courage that we are in the midst of an emergency at least equal to that of war. Let us mobilize to meet it."


        •  Sweet... (0+ / 0-)

          I wish this theme got more play than what I read in a few blogs. Unfortunately, the pro-business climate in the US really has a stranglehold on the MSM, and I hardly say this lightly.

          I watch a lot of news, and other than 1 or 2 commentators, I see little but Wall Street apologists - amid a few cheerleaders.

          What has a "political realist" done for you lately?

          by papicek on Sun Jun 20, 2010 at 10:30:15 AM PDT

          [ Parent ]

    •  No, I Haven't (4+ / 0-)

      But I have followed the California budget crisis for several years. I know the oil companies pay no state taxes for resources taken out of the ground while in Norway oil companies are pay near a million dollars in tax just for the privilage of bidding on oil lands and then the government keeps 70% of the revenue!

    •  nice catch...n/t (0+ / 0-)

      What has a "political realist" done for you lately?

      by papicek on Sun Jun 20, 2010 at 10:31:50 AM PDT

      [ Parent ]

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