Wealthiest More Likely to Lie, Cheat, & Steal (for 2/29/12)

High-income people lie and cheat more often, compared to those of average income or wealth, according to a recent study.  The wealthy also cut off other drivers on the road and believe in breaking the rules while working.  Greed is one thing that drives the wealthy to exhibit these various socially unacceptable behaviors that may ultimately lead to corruption which angers Americans of average or below-average income.  When the wealthy amass so much riches that they are in th top 1%, they often fail to see how their actions affect others.  This type of attitude may affect how they conduct interviews with potential employees, to whom they withhold important information regarding the positions they seek.  In the workplace, they are more likely to justify stealing money, bribery, and ripping off customers.  When extremely wealthy individuals are heavily involved in philanthropy, it can make one wonder if they are merely using it as a cover for these anti-social behaviors.  The recent reports of the wealth divide between Congressional members and their constituents indicated that insider trading is surely going on among members of Congress.  Constituents are left to wonder if their Congressional Representative or Senator believes it is all right to lie, cheat, and steal.

http://www.dailykos.com/story/2012/02/27/1068884/-The-1-more-likely-to-lie-cheat-and-steal-Science-says-so-?via=spotlight

Rick Santorum: Obama a "Snob" for Wanting People to Attend College

Rising GOP Presidential contender Rick Santorum said over the weekend, "President Obama wants everybody in America to go to college.  What a snob."  Santorum believes that colleges indoctrinate their students and that Obama apparently wants to control their minds by wanting all Americans to pursue post-secondary education so that they can handle the jobs of the 21st Century.  But, Obama negates that point on thought control with his penchant for conpromise.

What does this accusation by Santorum mean?  It shows him to actually be a snob and an elitist who is out of touch with educated Americans.  Santorum is the one who practices thought control.  His children are educated at home, not public schools.  Which means he has taught his children his own rigid ideas, including those on economic inequality, sexuality, and American Exceptionalism.  Which means he wants them to think that it is all right for CEOs to make millions of dollars annually while laying off thousands of workers or to automatically despise President Obama.  The things he probably did not or will not teach them about are those related to social justice, which tells us to take of the poor and the oppressed.  Santorum also shows himself to be the biggest ally of America's most irresponsible corporations, who can get away with environmental degradation, human rights abuses, and excessive profiteering by hiding these problems from any uneducated American.  Since schools have become obsessed with test-taking instead of creative or critical thinking, there are plenty of Americans that irresponsible corporations can hide their abuses.  Educated and informed Americans are most often the ones smart enough to find these problems.

http://www.dailykos.com/story/2012/02/27/1068825/-Rick-Santorum-calls-Obama-a-snob-for-wanting-people-to-attend-college?via=blog_1

Sen. Nelson's "Cow" Tax Break in Tens of Thousands

Congressional Representatives and Senators are immensely wealthy, a fact which contributes to the record disapproval of Congress of the past 2-3 years.  Their wealth has separated too many of them from the economic challenges that their constituents face.  They obtain this wealth through some of the oddest tax breaks that the average American is most likely unaware of.  Democratic Senator Bill Nelson of Florida lowered his property tax bill by $43,000 last year and paid just $3,696 in property taxes.  He did this by keeping cows on part of the ground of his 55-acre property, which he classified as agricultural and has sold some lots of the property.  But, three of five lots that he sold do not fit this classification.

This type of hypocrisy hurts Democrats, who believe that the Wealthy should pay their fair share of taxes.  Republicans, on the other hand, do not mind since they want to people to keep their money, even if they got it through tax breaks that benefit only wealthy landowners like Senator Nelson. 

http://thinkprogress.org/economy/2012/02/23/431661/bill-nelson-cows-property-taxes/

Another Romney Gaffe - Wife Has 2 Cadillacs

Leading GOP Presidential Candidate Mitt Romney cannot stop flaunting his wealth and finds new ways to show how out of touch he is with average Americans.  In a speech on Friday in Detroit, Michigan, the city home to the auto industry that he wanted to go bankrupt, he said that his wife Ann drives two Cadillacs.  Mitt said he has a Ford Mustang and a Chevy pickup truck.  But, in a recent poll, 71% of registered voters believe Romney cannot see the economic realities that average Americans  currently face.  He lived in Michigan in his youth and his father successfully led this state as its Governor.  But, that is meaningless to unemployed workers in Michigan, which has one of the highest rates of unemployment in the country.  While someone pursuing the Office of President should be very successful, a man of his wealth ought to do much more in terms of charity or philanthropy than he does in order to connect with people of average income.

http://www.csmonitor.com/USA/Politics/The-Vote/2012/0224/Another-Mitt-Romney-clunker-Ann-drives-a-couple-of-Cadillacs-actually

Lowest Demand For Oil in 15 Years; Gas Prices Still Rising

The demand for oil in the U.S. is as low as it has been since April 1997.  But, oil prices have shot up as oil is now trading at $100 per barrel.  Speculation from hedge fund managers has heleped drive up the cost of oil.  These hedge fund managers seek to make a lot of money for themselves insuring the oil companies' profits, which have grown to record levels.  But, these prices do not account for other factors such as the environmental damage from oil spills.  These prices also highlight the need to get off oil through efficiency upgrades to vehicles and alternative fuel sources to break the oil companies' monopoly on our energy supplies. 

http://thinkprogress.org/economy/2012/02/15/425926/gas-prices-rising-demand-1997/

Closing Post Offices Hurts Communities & Their Economies

Later this year, 3,830 postal offices will be closed to cut U.S. Postal Service spending by $295 million annually from its budget of $70 billion.  The Postal Service has 32,000 offices and most of the locations to be closed will be those in rural communities.  People living there experience more poverty on average than other Americans.  These small towns usually do not have Broadband Internet and their economies are more dependent on post offices than big cities are.  Shipping rates for UPS and FedEx are higher for those in rural communities.  People in these communities often have to drive on poorly maintained roads to find the nearest post office to send letters, pay bills, receive newspapers, and even file their tax returns.  This affects every business operating in a small town and these communities have a harder time attracting new business.  In other words, Congress does not care that it is screwing over rural communities to cut very little from the Budget Deficit.  Raising taxes on the wealthy, instead, would provide more than enough cash to save these offices, as well as rural communities' economies.  This would boost the national economic growth as the private sector would benefit from greater ease of movement of goods and information.  This important government function of making sure everyone can get things sent to their destinations in a timely way is often taken for granted.  It may be difficult to occupy post offices, but Occupy protesters in big cities protest for them, too.

http://www.reuters.com/article/2012/02/17/us-usa-usps-idUSTRE81D0M620120217

Law Firm Office Representing in GM in Bankruptcy Hosts Romney Fundraiser

Mitt Romney's campaign held a fundraiser last week in New York at the law firm office of Weil, Gotshal, & Manges, which got wealthy off of fees from GM to represent it in bankruptcy.  Even though Romney opposed the bailout of GM and Chrysler to save the auto industry, he could not pass up an opportunity to get his hands on more money for his campaign.  This lust for money can best be described as a type of personal profiteering that is more ruthless than the business practices of Wall Street Banks, since they invested nothing to bail out the auto industry.

http://thinkprogress.org/economy/2012/02/16/427288/romney-fundraises-office-gm-bankruptcy/

Female Restaurant Workers Face Harsh Working Conditions

Female waitresses or servers making money though tips outnumber male waiters or servers by a 2-to-1 ratio.  Tipped workers have a fixed minimum wage of $2.13/hour with the rest supposedly coming though tips.  Employers are supposed to make sure they get the minimum wage of $7.25/hour when they do not get enough tips, but too often fail to do so.  The workforce percentage of women in the restaurant industry is 52%, which means men are guaranteed more stable wages.  It also gives them higher pay at $25,000 annually versus $17,000 for women. 

http://www.dailykos.com/story/2012/02/19/1064413/-Restaurant-industry-screws-women-while-2-13-tipped-worker-minimum-wage-makes-it-worse?detail=hide&via=blog_1

Romney: Private Sector Should Have Bailed Out Carmakers, But Bain Didn't Invest (for 2/21/12)

Mitt Romney thought that the private sector should have bailed out GM and Chrysler to save the American auto industry in 2009.  Romney thought those companies should have been liquidated, not reorganized in bankruptcy proceedings.  No private investors, not even Bain Capital, stepped up and provided the needed capital.  While Romney was not at Bain when this happened, the knowledge he gained there should have told him that investors would not step up and bail them out.  But, the Obama Administration went ahead and bailed out them out.  Romney surely wanted to break the unions and make the Detroit's auto workers take deep cuts in any bailout of the industry.  He would not care about the damage it does to Detroit's economy. This will make many voters, especially those in Detroit, reconsider Romney's private sector experience as a strength of his.  If the private sector does not step up and hire unemployed Americans, it makes the public suspicious of any candidate who touts his private sector experience.

http://www.dailykos.com/story/2012/02/21/1066929/-Mitt-Romney-says-auto-bailout-should-have-come-from-the-private-sector-But-Bain-refused-to-invest-?via=siderecent

Billionaire Romney Donor Bullies Critics

Frank VanderSloot, an Idaho billionaire, is a huge donor to Mitt Romney's campaign and is its Finance co-chair. In 2004, Forbes magazine accused VanderSloot's company, Melaleuca, of being a pyramid scheme in selling dietary supplements and cleaning products. VanderSloot has filed costly lawsuits against Forbes, Mother Jones, and others that led these publications to remove articles that cast him in a harsh light for his anti-gay activism. Even local Idahoan bloggers have felt his wrath as he sued for infringing on copyrights by publishing a harsh letter his lawyers sent them. He now seeks to take this approach nationally. Billionaires who can use their riches to initimdate people in this way are threat to them and freedom of speech guaranteed in the First Amendment. Often called "Strategic Lawsuits Against Public Participation" (SLAPP), these actions are used by billionaires to protect their wealth when they feel threatened. Nearly 30 states have anti-SLAPP laws. All Ameircans should have the ability to investigate individuals like VanderSloot, especially when they can secretly contribute unlimited money through SuperPACS to Presidential campaigns. http://www.salon.com/2012/02/19/billionaire_romney_donor_uses_threats_to_silence_critics/singleton/

Long-Term Unemployment Boosting Jobless Rate (For 2/19/12)

Those who have been unemployed for a long time have actually boosted the unemployment rate due to the stigma associated with it and skill erosion. The lack of jobs has produced a huge number of long-term unemployed. Employers have engaged in discrimination against unemployed job candidates. The Obama Administration and Congrssional Democrats have sought to outlaw this practice. Congress adds to the poor image of the unemployed by including proposals allowing drug testing of the unemployed by those states that want to do this. http://www.huffingtonpost.com/2012/02/17/unemployment-long-term-unemployment-cbo_n_1284202.html?ref=business

90-Day Summary of Why They Occupy

After 90 days of blogging about what is motivating Occupy Wall Street protesters, it is so obvious when you look around to see why they formed this movement. Over three years after a likely unconstitutional bailout of the banks to stop a stock market crash that caused massive job losses, the recovery has been too slow and painful for too many.

These protests started right near Wall Street, home to the Nation’s biggest banks, the protesters’ first primary target. They have driven the financial sector to be a greater share of the economy than before the crisis. Top executives at the biggest banks, like JP Morgan, make over $10 million per year with huge bonuses. They make huge profits exploiting workers, often pressuring them to sell high-risk loans that may not be in their customers’ best interests. Even as they lay off workers and cancel Christmas parties, their compensation for their services is at an all-time high. Their CEOs still get paid well when their companies’ stocks tank. When they retire, they get huge golden parachutes on top of millions they got from their work. They did not pay attention to what was happening as one banking giant that lent money to homebuyers for mortgages completely ignored the warning signs of a housing crisis from mounting foreclosures, which were often done illegally. Their practices and their constant pursuit of the highest possible short-term profits also infect America’s biggest multi-national corporations, who offshore American jobs to boost their own profits. Because of their hunger for profit, some of them even go so far to re-open closed accounts on any activity.


The extensive damage the banks have done is everywhere. The U.S. Census shows half of all Americans are poor or of low income and are running out of affordable housing options. The country is segregating into wealthy enclaves and deteriorating cities like Detroit, where essential middle-class public servants face 10% wage cuts. The middle class is dismayed to learn they would be making thousands more right now if all the fraud around them did not happen. Luxury goods sell very well as the top 1% spends their money. These very well-off people avoid the spotlight, are not relatively as charitable, and want to slash government spending of any kind, including social services that benefit everyone else. Like never before, unemployment has been so high for so long that the workforce shrinks as middle class workers more often get temporary blue collar jobs between periods of unemployment that trap them into permanent poverty. For example, internet shopping sites treat middle class workers poorly with low pay, no healthcare benefits, and few breaks as they work during the holiday season. It leaves them so depressed that they need anti-depressants. It takes a skier’s death to highlight the problem of healthcare coverage. As 75% of people live in states without affordable healthcare, it is getting harder to see a doctor, some of whom are going broke. But they need to see one before something happens to them causing medical bills high enough to force them into bankruptcy. They need education to improve employment prospects but tuition is rising so fast that soon it will only be affordable to the Wealthy. As community colleges lose funding and cut back on their courses, they have to go to predatory for-profit schools that treat their executives to lavish retreats. These schools leave them with a lot of debt, but no job to pay it off.

Even worse, the Government has done too little to stop the corruption going on. After supposedly voting for “Hope and Change” when the crisis spiraled out of control in late 2008, these protesters are now very disappointed with the performance of the man they voted for, President Obama, who now believes the economic fix will take years. Yet, he still holds a strong electoral vote advantage over a weak GOP field. His Administration has not punished bankers for the damage they done as none of the bankers from the biggest banks have been sentenced to jail. His SEC has instead gone after low-level bankers and was criticized by federal judges for weak settlements. Obama also touted natural gas fracking as Americans protested it.

But, when they look at the ideas offered by Obama’s GOP challengers and their backgrounds, they are downright terrified. When they notice the actions of Mitt Romney, the GOP nominee with the best chance to beat Obama, they get angry. Romney thinks $10,000 is a small amount of money and made a bet in this amount in a debate with another Presidential candidate. He thinks only the Wealthy should run for office, hosts policy roundtables with them only, and does not seem to care about the poor. His tax plan only benefits the Wealthy compared to current tax rates, but is the least generous to the Wealthy among GOP candidates. He recently revised disclosures on his overseas funds that comprise much of his wealth, which he attained through many tax breaks and subsidies. He pays a lower tax rate than most Americans and can postpone his tax payments for decades. One of his top rivals, Newt Gingrich, is backed by Sheldon Adelson, who made nearly $7 billion in 2011 income. In their debates, they do not discuss George W. Bush, the last GOP President whose Administration who ran up much of the debt with wars and tax cuts for the richest Americans. Romney’s GOP friends in Congress are just as bad as they have historically held legislation to benefit the public good captive to their demands. One of them, Eric Cantor wants to enact further social spending cuts while preserving defense spending. Cantor also wants to weaken a proposed law to ban Congressional insider trading, which sending their incomes far above that of their constituents’. Another, John Boehner has pushed the environmentally dangerous Keystone XL Pipeline while investing in oil companies that will benefit from it. Congress has also sought to gut reforms to regulate swap trades. One of them even berated a constituent and told her to join the military when she questioned him. When Congress does not listen, that explains why they occupy.

America's Increasing Shortage of Low-Income Housing (for 2/18/12)

Affordable housing for rent is sought after by Americans in all 50 states and every state has a shortage. Low-income Americans cannot find enough well-kept, affordable rental units to meet their housing needs. For those that make up to one third the median income of a given region, there are only 30 available units on average for every 100 such households. The high number of foreclosures over the past several years has pushed more people into rental units since housing prices have slumped and unemployment has surged. It has also pushed the poverty rate higher. http://www.huffingtonpost.com/2012/02/16/affordable-rentals_n_1282519.html

For-Profit College Heads at Luxurious Retreat

Around 60 executives from for-profit schools across the nation just attended a lxurious retreat at Lake Tahoe resort in California. For a decade, they have spent millions lobbying Congress to stop regulations aimed at their industry. These proposed laws seek to punish schools that saddle students with loans they cannot pay back. One of this industry's chief lobbyists trying to shelter this industry from new regulations is former Senate Majority leader Trent Lott, who attended the retreat as a noted guest and gave them a presentation on legislative updates. These schools help worsen income inequality as the executives make lavish salaries with luxurious perks like this while students get loans they often cannot repay and no guarantee of a job after they earn their degrees. http://www.huffingtonpost.com/2012/02/17/for-profit-college-chiefs-lake-tahoe_n_1283331.html

Foreclosures Audit In San Francisco: 99% Have Flaws

Only in one in 100 foreclosures in San Francisco was properly conducted, according to an audit done there. In the vast majority of the cases, people or banks lacked the authority to foreclose on properties, clearly broke laws, or submitted fraduluent documents. Some of the corruption included making up documents with the wrong dates or people misrepresenting other companies. In the recent national foreclosure settlement, the State of California will get $18 billion to help homebuyers with mortgages above the values of their homes. In many cases, homeowners have trouble finding who owns their mortgage. This due to the fact that banks sliced up these mortgages and packaged them into securities and then sold them as credit default swaps or other dubious investments. Each of these individual mortgages probably have multiple bankster owners who fraudelenty profited off them and paid their executive management teams outrageously high salaries they did not earn. http://www.baycitizen.org/housing/story/sf-audit-finds-irregularities-99-percent/

$10,000 Mitt Romney Policy Roundtables

Mitt Romney met with wealthy supporters who last week to discuss policy ideas with those who donated at least $10,000. They talked about energy, education, international relations, and healthcare among others. In other words, he is selling policymaking to the upper part of the Top 1% and ignoring the ideas of average Americans. For example, Dominion Power CEO Thomas Farrell was present and likely discussed what American energy policy should be. L.E. Simmons, another wealthy donor, has experience with private equity investments in energy and likely gave Romney ideas on both financial and energy policy. http://thinkprogress.org/politics/2012/02/11/422858/romney-10k-policy-roundtables/ http://thecaucus.blogs.nytimes.com/2012/02/09/romney-holds-a-policy-round-table-but-attendees-must-raise-10000/

House Transportation Bill Benefits Oil Companies

The transportation bill that House Republicans have proposed has been described as a gift to the Oil Companies. It ends the 30-year agreement that gave mass transit operators 20% of fuel taxes and highway user fees. Ray LaHood, a former Republican Congressmen and current Department of Transportation Secretary, has never seen a worse transportation bill in his 35 years of public service. It only serves those who drive cars to get to where they want to go. In other words, this Congress is screwing over people who cannot afford to own a car and keep us hooked on oil. This increases demand for oil and fattens the bottom line of oil companies. It allows them to drill off the Pacific and Atlantic coasts. After the 2010 Gulf Oil Spill off the coast of Louisiana, we need to cut our reliance on oil since oil companies are only interested in making big profits. http://www.triplepundit.com/2012/02/house-transportation-bill-paves-road-big-oil/comment-page-1/

Watered-Down Insider Trading Bill Passes House (For 2/13/12)

Eric Cantor's efforts to water down the STOCK Act have proven successful. Congress easily passed the weakened STOCK Act last week, with 417 votes for and only two against, to ban insider trading among members of Congress. As the bill's author, Cantor left in the loophole that allows individuals who "sell information they learn from Congress to corporations to not register as lobbyists." Therefore, Cantor wants to hide these individuals, who may be his big campaign contributors, from public scrutiny. Perhaps the only thing that will work to prevent insider trading on the basis of Congressional dealings will be a strong Constitutional amendment to hold Congress members accountable. An amendment to get money put of politics will help, but may be difficult to pass. With Cantor's actions on this bill and Congressional approval at an all-time low, it may be much easier to first pass an amendment more narrow in scope that regulates the behavior of members of Congress. http://thinkprogress.org/economy/2012/02/09/422050/house-passes-stock-ac/

Scott Walker Will Not Use Foreclosure Settlement Funds for Homeowners (For 2/12/12)

Wisconsin Governor Scott Walker will not use his State's allocated funds from the February 9th national foreclosure settlement of $26 billion to to help homeowners owing more than their home's value on fraudulent mortgages. The settlement is a penalty that mortgage lenders will pay for fraudulent practices. Wisconsin will receive $140 million, with $31.6 million going directly to Wisconsin State Government, which will use $25.6 million of it to balance its budget and the remainder to be determined later. Walker previously criticized this practice of using these one-time funds to balance his State's budget. He also said his controversial budget repair bill passed last year to bust unions was the key to the State's budget problems. http://thinkprogress.org/economy/2012/02/10/422744/walker-settlement-budget/

Closed Bank Accounts Even Harder to Keep Closed (For 2/11/12)

Some Big Banks such as Bank of America and J.P. Morgan Chase will re-open a closed account if it receives an electronic payment or deposit. This brings about unwanted overdraft and account maintenance fees. Consumer experts say the consumer has the responsibility to transfer all regular electronic payments and deposits to their new bank account. Consumers frequently forget to do this as irregular elctronic payments can hit them by surprise. There are banks such as Citibank, Wells Fargo, and PNC Bank that will not re-open closed accounts for these types of items. They require account holders to pull out every penny in it and put the account closing request in writing. http://www.huffingtonpost.com/2012/01/31/zombie-checking-accounts-_n_1245065.html

New Hampshire GOP Proposes Ending Lunch Breaks (For 2/10/12)

Two New Hampshire legislators, J.R. Hoell and Kyle Jones, proposed legislation to end lunch breaks for all workers in their State. Hoell thinks this creates too much confusion for seasonal employers with shorter shifts. Jones is 20 years old, has experience working at Burger King, and foolishly says it is a commonsense practice that does not need to be legislated. He knows little about labor relations as writers, unions, and labor advocates are in an unending war against business lobbyists to stop worker abuse since businesses do not care about their workers as they get as much profit as possible for business owners. The pursuit of profit has driven businesses to pay workers poorly, deny them needed safety or health protections, and even fail to pay for injuries incurred on the job. Middle-class workers do not want to wonder on a daily basis what dumb laws like this one that ignorant and uneducated legislators are making. http://www.dailykos.com/story/2012/02/10/1063446/-Lunch-Break-You-Don-t-Need-No-Stinking-Lunch-Break-or-Republicans-Propose-the-Darnedest-things-?via=spotlight

Sheldon Adelson's Income: $3.3 Million Per HOUR (for 2/9/12)

The biggest contributor to Newt Gingrich's campaign, Sheldon Adelson, recently gave $5 million to a Gingrich Super PAC. This helped Gingrich to an unexpected GOP primary win over Mitt Romney in South Carolina. Adelson's income last year was $7 billion. This wealth came from his ownership of Sands Corporation, a big casino and resort operator based in Las Vegas. This shows the staggering income inequality that exists in America. If he worked just 40 hours per week, his hourly wage rate would be $3.3 million per hour. He met with Gingrich for several hours at The Venetian earlier this month. Adelson earned much of this money from stock gains in his casinos and resorts in Asia, particularly China. He would also be open to supporting other GOP candidates such as Mitt Romney. Last year, the median American household earned $49,455, an hourly rate of $23.77 on 40 hours weekly. This comes out to a rate of almost 140,000 times to one. This inequality and concentration of wealth fuels social unrest and understandable class envy. Even if he kept $1 billion of income for himself last year, he could give one million full-time workers in Sands' hometown of Las Vegas an hourly wage increase of $2.80 per hour. http://www.huffingtonpost.com/2012/02/08/newt-gingrich-sheldon-adelson-income_n_1263249.html

Shrinking U.S. Labor Force (For 2/8/12)

Last month, the unemployment rate fell to 8.3%, its lowest rate in three years. But, Federal Reserve Chairman Ben Bernanke believes that it masks the lack of jobs. The number of people of working age who quit looking for work has risen as they cannot find jobs. Others have been forced into part-time work. Of Americans 16 or older, 88 million of them had no job and were not searching for one. Only 63.7% of these Americans were in the labor force last month. This is the lowest rate since May 1983. Some Fed officials have hope for growth. Average wages grew 1.9% last month from the same time last year. http://www.bloomberg.com/news/2012-02-08/jobless-decline-masks-drop-in-u-s-labor-force-as-fewer-seek-work-economy.html

Man Dead in Foreclosed Home For Up To 4 Years (For 2/7/12)

Foreclosed homes may become haunted, abandoned ones in a housing crisis. In Milwaukee, Wisconsin, a real estate shockingly discovered the deceased body of David Carter. Investigators believe he died four years ago after committing suicide by shooting himself in the head with a gun. This problem is not limited to the United States. In 2006 in London, England, creditors discovered the remains of woman who was dead for three years. Police in Australia discovered an elderly woman's remains 7-8 years after her death. http://www.huffingtonpost.com/2012/02/06/david-carter-dead-suicide_n_1258367.html?ref=business

GOP Attacks Chrysler Ad; Mitt Romney Wanted Detroit to go Bankrup in 2008 (For 2/6/12)

During the Super Bowl, Chrysler aired a Super Bowl ad, known as "half-time in America" starring Clint Eastwood. It highlighted Detroit's recovery from the financial crisis. Republicans such as Karl Rove criticized President Obama for robbing taxpayers to give free advertising to automakers that his adminstration bailed out in 2009 for a total of $12.5 billion. Just as significant, Mitt Romney wrote an editorial in 2008, "Let Detroit Go Bankrupt." He argued that Detroit Automakers would continue to lose jobs and global market share due to product deficiencies. They have labor and pension costs that are too much for the market to handle. Therefore, he thought they did not deserve the bailout they got. However, much of the problems Detroit Automakers had resulted from the financial crisis that hit the stock market that year and rising healthcare costs during the last ten years. When all people nationwide lost much of their savings due to the September 2008 stock market crash, they cut back on big items such as new cars. All of sudden, the revenues of General Motors, Ford, and Chrysler dropped sharply in late 2008. Since one in ten American jobs is linked to these manufacturers, there was public pressure for a bailout in early 2009 after Wall Street got theirs. When Romney wrote this editorial, America was losing 700,000 to 800,000 jobs per month and headed for a Second Great Depression. http://www.telegraph.co.uk/news/worldnews/us-election/9065539/US-Election-2012-Clint-Eastwood-defends-himself-over-political-Chrysler-Super-Bowl-ad.html http://www.nytimes.com/2008/11/19/opinion/19romney.html

Fannie Mae Asleep as Reports of Mortgage Crisis Mounted (For 2/5/12)

Nye Lavalle was a successful sports advertising executive who had a family home foreclosed on in 1995 and started investigating the home mortgage industry. He went all over the nation and discovered forged documents. He unsuccessfully showed his findings Washington Mutual, Countrywide Financial, JP Morgan, other Big Banks, and mortgage lenders. By 2003, when the housing market was hot, he had documented an extensive pattern of corruption at mortgage giant Fannie Mae. Taxpayers have lost $150 billion to the bailouts of Fannie Mae and Freddie Mac, both of which drove this industry's culture of outsourcing its work to other firms. Fannie Mae helped create an electronic registry firm for mortgages that it did not diligently oversee to ensure that it complied with state laws. These failures contributed heavily to hundreds of thousands of fraudulent foreclosures. http://www.nytimes.com/2012/02/05/business/mortgage-tornado-warning-unheeded.html?_r=1&hp

Obama Has Huge Electoral Vote Advantage Despite Failures (For 2/4/12)

In spite of high unemployment, a very flawed healthcare reform bill, extending all of the Bush Tax Cuts through the end of this year, and failure to break up the Big Banks, President Obama still is likely to get re-elected this November. He has also signed bad trade deals, still has not ended all of George W. Bush's wars, expanded offshore oil drilling, and failed to reform the tax code. Twenty states with 259 electoral votes have him currently leading the Republican candidate. Republicans have only 106 electoral votes from 15 states in good shape for November. There 173 electoral votes up for grabs. Bill Clinton had 153 votes from 14 states at the same time in 1996 and cruised to re-election. The Republicans are fielding their worst field of candidates in a long time. Approval ratings are at 35% for Mitt Romney and 30% for Rick Santorum. Only 26% of the public approves of Newt Gingrich. Stephen Colbert, as a comedian who uses his sarcasm to do great impressions of conservatives, has a 38% approval rating. Most conservatives, though, do not see how bad he makes them look. Most Occupy Wall Street protesters, on the other hand, want the GOP to realize their failings. They certainly would like to see an opposition party that challenges Obama to come up with better solutions and bolder ideas to our economic problems. http://www.allvoices.com/contributed-news/11449339-shocker-obama-holds-huge-electoral-vote-advantage-in-statebystate-polling-

Cantor Wants to Stop Insider Trading Ban? (for 2/3/12)

President Obama challenged Congress in last month's State of the Union address to pass a bill outlawing insider trading by members of Congress. The bill, known as the Stop Trading On Congressional Knowledge (STOCK) Act, has 273 co-sponsors. But, Eric Cantor is holding up the bill to include other kinds of unrelated economic activity such as land deals. This is an effort on his part to water down or even kill the bill and deny Obama a big public relations victory that will boost his re-election efforts. It shows the corruption that exists in Congress and why Congressional approval is at an all-time low. This commonsense bill should pass without being watered down and not be subjected to any individual Representative's desire for any special exemption. Therefore Cantor is totally corrupt and unworthy of the Office he holds. http://thinkprogress.org/economy/2012/02/02/417767/cantor-insider-trading-ban/

Romney: "Not Concerned About the Very Poor" (for 2/2/12)

In a gaffe televised in an interview on CNN, leading GOP Presidential candidate Mitt Romney said, "I'm not concerned about the very poor." The Wealthy were not of his worries, either, and says everyone in between should be the primary concern. He also thinks "Safety Net" programs, such as housing vouchers, food stamps, and Medicaid should be fixed as needed. Conservatives ripped him for both not putting a plan to wean them off the "Safety Net" and giving Democrats the ability to portray Republicans as incompassionate. But, given his history of flip-flopping on many issues, Romney is likely moving the goalposts here. He has domestic cuts, but none to defense, in his budget. He plans to get rid of tax credits for the working poor and wants to block grant domestic programs in fixed amounts. http://content.usatoday.com/communities/onpolitics/post/2012/02/mitt-romney-very-poor-criticism-rush-limbaugh-/1 http://www.csmonitor.com/Business/On-the-Economy/2012/0202/What-Mitt-Romney-s-poor-gaffe-really-means

House GOP Orders Gasland Journalists Arrested (for 2/1/12)

Josh Fox, the maker of the documentary film Gasland, arrived with his crew at Capitol Hill to film a public Congressional hearing on fracking, which is causing extensive groundwater contamination in the extraction of natural gas. Instead, Republican Chairman Andy Harris of the House Subcommittee on Energy and Environment ordered Capitol Police to arrest Fox and his crew in a shocking disdain for the First Amendment protections of freedom of the press. The filmmakers tried to get permits, which would let them film the hearing. This is standard operating procedure and crews never have had trouble like this before this hearing. There were only two cameras at the hearing, so there has to be a suspicious motive for House Republicans to do this. One can only suspect the millions of dollars that Republicans take from oil and gas companies drives them to suppress public dissent against these wealthy multi-national companies. These companies and their executives often enrich themselves by polluting the environment. When they become wealthy enough, they contribute huge sums of money to the campaigns of individuals like Harris and lie low while he deceives the people in his home district, which is District No. 1 in Maryland. Those people then foolishly vote for him and he pulls off a stunt like this. http://www.huffingtonpost.com/2012/02/01/house-republicans-order-j_n_1246971.html?ref=green&ir=Green

Exxon Mobil 2011 Profit: $41.1 Billion; Tax Rate About 17.6% (For 1/31/12)

Exxon Mobil's 2011 $41.1 billion profit was the largest of the five biggest oil companies. It recorded an estimated corporate tax rate of 17.6% from 2008-2010, lower than the 20.4% that the average American paid during the same time. It uses Carribean bank accounts as tax shelters and paid no federal income taxes on 2009 profits of $45.2 billion. From 2005 to 2010, job losses from the company's total workforce amounted to 11,200. Instead, it used its profits to enrich its executives, directors, and biggest investros with over $20 billion of stock buybacks in 2011. http://thinkprogress.org/green/2012/01/31/415242/exxonmobil-made-411-billion-in-2011-but-pays-estimated-176-percent-tax-rate/

Skier's Death Shows Lack of U.S. Healthcare Coverage (for 1/30/12)

Sarah Burke, a famous skier from Canada, died on January 19th from injuries in a skiing accident nine days earlier in Utah. If her accident occurred in Canada, it would have been covered. Canada has universal coverage, otherwise called single-payer healthcare. Therefore, it was not covered. She received donations of over $300,000 from fans worldwide to cover her medical bills of around $200,000. Medical bills annually bankrupt 700,000 American families, who often lose their homes in the face of serious illnesses or a catastrophic injury like Sarah Burke's. Healthcare reform curbed some of the worst insurance company practices, such as denying people insurance on the basis of pre-existing conditions. But, it did not deliver single-payer healthcare necessitating donations like Burke received. http://usnews.msnbc.msn.com/_news/2012/01/30/10274212-iconic-skiers-death-points-out-us-health-gap

Apple Suppliers Guilty of Environmental Violations (for 1/29/12)

Apple recently made public the identities of its suppliers amidst criticism that they subjected workers to harsh treatment. When Apple CEO Steve Jobs died in October, Tim Cook took over and has changed the company's secretive culture to be more socially responsible after reports of worker suicides. It has monitored its suppliers nearly two times more closely last year than it did in 2010. One supplier dumped wastewater on a nearby farm. I suspect that such a supplier most likely does this by cutting corners to make the product chaeper and fatten Apple's profit margins. A supplier can cut corners through poor safety practices or failure to invest in the necessary equipment to safeguard the environment. http://www.huffingtonpost.com/2012/01/13/apple-supplier-list_n_1204730.html?ref=apple

$100 Million-Plus Golden Parachutes for 21 CEOs (for 1/28/12)

GMI Ratings published a first-ever report that found 21 CEOs since 2001 took home $100 million or more of severance, often referred to as a golden parachute. Jack Welch headed General Electric for 20 years and received a golden parachute of over $400 million as his tenure as CEO ended in 2001. Exxon Mobil's Lee Raymond took home over $320 million after his 12-year tenure as CEO ended in 2005. http://news.yahoo.com/golden-parachutes-21-ceos-landed-100m-plus-123243881--abc-news.html

Romney Revising Tax Disclosures for Offshore Funds (for 1/27/12)

Mitt Romney's campaign staff is changing federal ethics disclosure forms to include some investments held offshore, but not reported on his taxes last year. Last year, he did not include an investment held in Switzerland's UBS Bank worth million of dollars on his return. He also added funds from the Cayman Islands, Ireland, and Bermuda to his returns. Romney has about $250 million in wealth. These forms require Presidential candidates and their spouses to diclose all of their total assets and income. In other words, Mitt Romney hides his money all over the world to avoid paying taxes and will not disclose his wealth unless he needs to do it for political gain. In truth, revising disclosures like this should trigger a scandal that deems him unsuitable for office. http://firstread.msnbc.msn.com/_news/2012/01/26/10244809-romney-revising-disclosures-for-overseas-accounts

Obama Picked Off for Touting Fracking, While Americans Don't Want It (for 1/26/12)

President Obama is like a highly-drafted quarterback who throws far too many interceptions. This a solid analogy, with the Super Bowl about to be played. Companies involved in natural gas development have spent millions of dollars on elections, lobbying, and on advertising to sway public opinion in favor of natural gas development. All of which acts like a fierce pass rush on President Obama or anybody else who would sit in the White House. In the State of the Union that he gave on January 24th, Obama mentioned that the U.S. has a century's worth of natural gas on our soil. He said his Administration will advocate safe exploration and utilization of this resource. Obama apparently thinks hydraulic fracturing, often referred to as fracking, can be done safely. But, evidence suggests otherwise. Fracking yields staggering amounts of cancerous wastewater. Fracking has caused numerous small earthquakes in Ohio because of the extensive deep Earth drilling involved with it. Americans have started grassroots movements to oppose fracking. Half of Ulysses' 3,000 registered voters oppose fracking within their city limits in the State of New York. Officials in Otsego County in New York have also expressed concern about the dangers of fracking. This is a solid example of what has happened during Obama's Presidency. Too often, Obama has let his 2008 voters down. Many of them want stronger protections on the environment, more aggressive pursuit of Wall Street Banks that robbed millions of Americans of their homes or jobs, and and end to the Bush Tax Cuts for the Wealthy. Too often his Administration does not deliver enough to solve these problems. http://rt.com/usa/news/fracking-obama-drill-union-707/

Eric Cantor Wants to Stop Automatic Defense Cuts (for 1/25/12)

Eric Cantor, leader of the House GOP, wants to stop $600 billion of cuts in long-term defense spending and enact additional domestic cuts instead. Congress passed these trigger cuts back in August when it raised the U.S. debt limit. Congress seqestered $1.2 trillion in cuts, with the other half hitting domestic spending, that will take place after the SuperCongress failed to come up with a plan on additional spending cuts. Cantor failed to explain what he would cut. But, in May 2011, he showed a lack of compassion as he demanded additional spending cuts to pay for aid to tornado victims. http://www.dailykos.com/story/2012/01/23/1057722/-Eric-Cantor-details-plan-to-renege-on-debt-ceiling deal-?via=blog_1 http://www.dailykos.com/story/2011/05/24/978844/-Cantor:-No-emergency-aid-for-tornado-victims-without-spending-cuts

Boehner: Lobbied for Keystone XL, Invests in Oil (for 1/24/12)

Speaker of the House John Boehner looks out for the desires of his biggest campaign donors, especially oil and gas companies, when he casts his votes on bills. Citizens United has highlighted this problem that exists in too many lawmakers in Washington, D.C. by now allowing unlimited spending by corporations in political campaigns. Boehner has also paid back oil and gas companies by investing in them. He pushed the Keystone XL Pipeline while holding investments of $10,000 to $50,000 each in seven companies involved in extracting oil from Canada's tar sands. When President Obama said TransCanada cannot yet build the pipeline, Boehner's spokesperson falsely accused Obama over the number of jobs lost on this denial. http://www.politicususa.com/en/john-boehner-keystone-xl

75% of Americans In States w/o Access to Affordable Healthcare (for 1/23/12)

Nearly two years after President Obama fulfilled one of his top priorities by signing healthcare reform into law, 75% of Americans still reside in states with expensive healthcare. States should supposedly help enact the biggest healthcare reforms since the birth of Medicare and Medicaid. States have inconsistently enacted the various reforms. States with Republican governors have stated that healthcare reform is unconstitutional. Some of these states include Texas, Wisconsin, and Kansas. Texas Governor Rick Perry believes it will bankrupt the country, ignoring the fact that his state has 7.6 million uninsured residents. While Occupy protesters may want deeper reforms such as single-payer healthcare for all Americans, they surely would welcome the sight of states putting forth more effort to lower healthcare costs and provide more affordable health insurance. http://www.huffingtonpost.com/2012/01/23/affordable-health-care_n_1223230.html?ref=business

Mitt Romney Could Have Waited Decades to Pay His Taxes (1/22/12)

Mitt Romney pays an federal income tax rate of about 15% and says he is "not going to apologize for being successful." Someone who earns a wage of $60,000 also pays about this rate. Dividends and capital gains, which comprise most of his income, have tax rates of 15%. As someone who manages an investment partnership such as Bain Capital, Romney can make income now and report it as carried interest. This allows him to defer tax payments for decades. He promises to release many years of his tax returns. He put $100 million aside for his sons. What he is paying taxes on will remain a mystery if he does not release tax returns from 1984-1999, when he ran Bain Capital. This will surely spur the debate for serious tax reform. http://www.huffingtonpost.com/2012/01/22/column-what-romney-tax-re_n_1218453.html?ref=business

Small Businesses: Citizens United Hurts Us (for 1/21/12)

Two of every three U.S. small business owners say that the Supreme Court's January 2010 decision in Citizens' United harms them. The American Sustainable Business Council and Main Street Alliance asked 500 of them in a recent survey and they said money that big corporations spend in political campaigns hurts small businesses. Big corporations can spend their money to get special tax breaks and relief from regulations that they oppose. They can also use their economies of scale, large bank accounts, and the thousands of employees they have to find those hidden tax breaks that overburdened small business owners do not have the time to find. http://mainstreetalliance.org/wp-content/uploads/2012/01/Release-smallbusinesspoll-CitizensUnited.pdf

George W. Bush Not Mentioned in GOP Debates (1/20/12)

The GOP Debates have featured its eccentric candidates, American flags, and moderators unable to sway the Presidential contenders away from Republican ideology. George W. Bush, the last Republican President, is something they do not want to talk about, even as he is now three years removed from an eight-year tenure. President Obama got mentioned 560 times in the 16 debates so far, but Bush only came up 56 times. They have brought up Ronald Reagan 221 times, even though it is now over 20 years after his term as President and seven since his passing. Perhaps, Republicans are ashamed and embarrassed by Bush. Or they want to blame everything on Obama. After all, it was Bush who ran up much of the National Debt with the Afghanistan and Iraq wars. The biggest factor in the budget deficits and rise in the National Debt has been his tax cuts for the wealthy, with indifference to reforming the tax code to eliminate loopholes. These tax cuts have proved difficult for Obama to end. http://www.washingtonpost.com/blogs/in-the-loop/post/george-w-bush-in-the-gop-debates-a-taboo-topic/2012/01/19/gIQAmG0vBQ_blog.html

Citizens United Allows Big Lobbying Firms to Spend $4 Billion on Elections (for 1/19/12)

Two years ago at this time, the Supreme Court ruled in Citizens United that corporations could spend unlimited, often secret, amounts of money on elections. It allows corporations to spend secretively on attack ads against candidates who intend to regulate and reform their industries. Fossil fuel and healthcare companies will run ads on issues central to their businesses to try to influence the 2012 elections. One can only suspect that many of these corporations will run ads that will protect their bottom lines and deceive the public. These ads will also ignore income inequality. Wall Street banks will likely run ads favoring financial deregulation that will ultimately screw over consumers. Energy companies will continue to run ads saying that fighting global warming by curbing our use coal, oil, and gas will hurt our economy. http://www.alternet.org/investigations/153813/thanks_to_citizens_united%2C_multinational_mega_lobbyist_firm_salivates_over_%244_billion_in_campaign_cash_/

Mitt Romney's Investments Scattered Around The World (1/18/12)

Mitt Romney his hiding his tax returns for a very good reason. They will not help him win the November 2012 Presidential election. While at Bain Capital, he probably moved much of his wealth to accounts abroad to take advantage of various tax breaks used by only the wealthiest bankers and investors in the Top 1%. Bain funds have key international connections for moving money offshore. Romney shifted his wealth to Delaware, the Cayman Islands, Bermuda, Hong Kong, and Ireland. Romney's family got over $1 million in 2010 from one Cayman Islands investment, Bain Capital Fund VIII. What does this mean for President Obama? In the 2008 campaign, he ran into Joe the Plumber, who questioned why Obama wanted to raise his taxes. Obama can effectively use the phrase, "spread the wealth," and have more credibility than Romney, who spreads his wealth -- around the world, that is. http://www.washingtonpost.com/blogs/ezra-klein/post/yet-another-tax-advantage-for-romney/2012/01/18/gIQAvh017P_blog.html

Romney: My Tax Rate is Lower Than Most Americans (for 1/17/12)

Mitt Romney says he pays about 15% taxes on his income. The investments he previously made comprise much of his yearly income over the past decade. He also gets income from his book and giving speeches. Noted investor Warren Buffett has railed against the 15% rate for being lower than average Americans and wants Congress to stop favoring the wealthy. For the year ending February 2011, Romney received over $300,000 for giving speeches. This is not much for him, which speaks to his immense wealth. Tax rates for dividends and capitol gains are only 15%. Democrats do not like seeing people who teach, keep our streets safe, or do hard, physical labor pay higher income tax rates than multi-millionaires like Romney. Even Newt Gingrich wants Romney to make his tax returns public. This should spur tax reform to make the Top 1% pay higher minimum taxes. http://www.cbsnews.com/8301-503544_162-57360230-503544/romney-admits-he-pays-lower-tax-rate-than-most-americans/

Tuition for Four Years Could One Day Cost $420K+ (For 1/16/12)

The 4-year total tuition to attend one of the U.S.'s most prestigious colleges will rise to $422,320 in 2034, if current trends continue for children born this year. Public universities will average $81,000 by comparison. Students will pay off debt to attend college for the rest of their lives. The main reward for taking on student loans to get a college degree is a higher-paying job. Manufacturing job losses have shrunk income and benefits for Americans without college degrees. Minimum wage has not kept pace with inflation because of Republican policies. Without reform, only students from households of the Top 1% will be able to afford college. http://www.alternet.org/story/153788/%24422%2C320_for_a_college_degree_with_tuition_skyrocketing%2C_it_is_time_to_rethink_high

Fox News: Majority of Americans (for 1/15/12)

According to a Fox News poll as of December 2011, 51 percent of American voters think President Obama has done a poor job in his first three years in office. But, Democrats have an 82%/11% approve-to-disapproval rating of Obama's overall performance across the entire term to date. Poll participants stated at a 94% rate that the struggling economy needs improvement or growth. But, Obama still stands a good shot at re-election due to GOP's failure to produce a strong candidate who would reform the tax code and clean up the corruption in the banking system. http://www.foxnews.com/politics/2011/12/09/fox-news-poll-disapproval-president-obama-is-up/

GOP Rep Scolds Constituent; Tells Her to Join Military (for 1/14/12)

Arkansas Congressman Steve Womack yelled at constituent Kelly Eubanks and told her to join the military to pay for college. House Republicans cut 2011 Federal Pell grant spending for 100,000 students in need. Womack's aides tried to interrupt her and he did not directly answer her demands. http://thinkprogress.org/education/2012/01/13/404358/gop-rep-berates-student-pell/

Romney Profitted from Tax Breaks, Subsidies (for 1/13/12)

During Mitt Romney's tenure, Bain Capital invested in Steel Dynamics to help its steel mill grow to over 6,000 jobs now in Indiana's DeKalb County. He has not told the public how Indiana and DeKalb County provided Bain with very favorable tax breaks and subsidies. Bain made a June 1994 investment of $18.2 million in Steel Dynamics and reaped $104 million off it five years later. Bain received $37 million in subsidies for the mill and despite citizen opposition, DeKalb County raised income taxes for infrastructure upgrades to benefit Bain, which also received $23.4 million in property tax relief from the County. State tax credits of $4.4 million also went to Bain. GS Industries, another Bain Investment, was based in Kansas City and went broke in 2001. Bain reaped huge dividends from GS Industries while taking away paychecks, health insurance, and some retirement benefits from 700 workers. Bain wanted the U.S. Government to back $50 million on this investment. Stories like these will drive the public to demand real tax reform that gets rid of subsidies that benefit corporations, investors, and the wealthy. The Cato Institute, a free-market think tank, has even decried these as example of "corporate welfare." http://www.latimes.com/news/nationworld/nation/la-na-bain-subsidies-20120113,0,1268299.story

Four Times More Illegal Corporate Political Spending (for 1/12/12)

Just one percent of respondents to the 2009 National Business Ethics Survey saw businesses breaking the law on political spending. That just jumped to four percent. The big reason this activity is occurring is the upcoming 2012 Election, with many in the business community dissatisfied with President Obama's handling of the economy. The Supreme Court's 5-4 decision on Citizens United in January 2010 is the vehicle that let this happen, by allowing unlimited campaign spending by third parties without disclosure. Also, employees report more instances of bribery and illegal payments to governing authorities. http://thinkprogress.org/justice/2012/01/12/403738/survey-illegal-corporate-campaign-contributions-up-400/

Jon Stewart Points out GOP Candidates' Hypocrisy over Romney's Bain Capital Record (for 1/11/12)

Jon Stewart points out the hypocrisy of other Presidential Contenders launching attacks in the GOP debates on Mitt Romney over his track record of firing thousands of people while at Bain Capital. Stewart says, "Mitt Romney answered the Republicans' eHarmony ad" for the Presidential nomination. On The Daily Show, he played clips of all the contenders talking about free markets, deregulation, and lower taxes. http://2012.talkingpointsmemo.com/2012/01/jon-stewart-romney-answered-gops-e-harmony-ad-and-now-rivals-hate-him.php http://www.huffingtonpost.com/2012/01/10/jon-stewart-gop-hypocritical-class-warfare-mitt-romney_n_1196232.html?ref=comedy

GOP Presidential Candidates Attack Romney's Greed (for 1/10/12)

Independents, Democrats, liberals, and anybody else who does not have a right-wing viewpoint regularly attack Mitt Romney for cutting jobs to make massive profits for himself. In the GOP debates however, his rival contenders have gone after him and broke ranks with current GOP economic thought. Romney started Bain Capital, a prviate equity firm, in 1984 and was its first CEO. Of 77 companies Bain invested in over 15 years, 22% of them went bankrupt as Bain bought them, ran up lots of debt, sold them off, and laid off thousands of workers. Jon Huntsman said, "he likes firng people." Newt Gingrich and Rick Perry both believe Romney raided businesses, destroying jobs to enrich his investors. But, he remains the leading GOP Presidential Candidate to win the nomination. Which suggests that most GOP voters do not have a problem with all of the jobs going overseas and dismiss it has a harsh reality of the mythical free market capitalism that they believe in. Which also suggests that they do not believe that Romney's tactics as a corporate raider do not harm the economy, despite evidence to the contrary. http://thinkprogress.org/politics/2012/01/09/400769/republican-pile-on-bain-capital/ http://thinkprogress.org/economy/2012/01/09/400404/romney-bain-bankrupts-billions/