ED Show: "Will Republicans raise taxes on the middle class" (video)

MSNBC, video (07:22). Mark Simone, Charles M. Blow and Ari Melber talk taxes on The ED Show.

Robert Reich: "Thoughts on Tax Day 2012" (with video)

Robert Reich, with video (02:15):

As Justice Oliver Wendell Holmes, Jr., wrote in 1904, “taxes are the price we pay for a civilized society.”

But the wealthiest Americans, who haven’t raked in as much of America’s income and wealth since the 1920s, are today paying a lower tax rate than they have in over thirty years. Even though America faces a mammoth federal budget deficit. Even though public services at all levels of government continue to be slashed. Even though the median wage is still dropping, adjusted for inflation. Even though the typical American is paying more of his or her earnings in taxes – including payroll taxes, sales taxes, and property taxes – than ever before.

I’m not a class warrior. I’m a class worrier. And my worries go to why all this has happened. MORE...

"Obama’s Cut to the Corporate Tax Rate Is a Crafty Political Ploy"

Naomi Prins (The Daily Beast):

The bottom line is that we don’t need a revenue-neutral corporate tax plan; citizens are bearing the brunt of our tax receipts as it is. We need one that’s “revenue-positive.” Such a plan would entail both closing loopholes and keeping the statutory tax rate where it is—but that’s not the kind of policy that brings in the big campaign bucks. MORE...

ED Show: "Obama goes after his critics on 'class warfare'" (video)

MSNBC-ED Show, video (04:22).

Howie P.S.: Ari Melber and Caroline Heldman discuss the issue with ED.

BEST of 2011: "Thousands of protesters gather on Friday, April 8, 2011 on the State Capitol Campus in Olympia" (photo)

"Thousands of protesters gather on Friday, April 8, 2011 on the State Capitol Campus in Olympia. A crowd estimated by the Washington State Patrol at around 7,000 people gathered on the steps of the Capitol to protest for an end to corporate tax breaks and cuts to public programs." JOSHUA TRUJILLO / SEATTLEPI.COM. (CLICK ON IMAGE TO ENLARGE)

Matt Taibbi: "A Christmas Message From America's Rich" (with video)

Matt Taibbi with video (00:08):

But out of Abelson’s collection of doleful woe-is-us complaints from the offended rich, the one that deserves the most attention is Schwarzman’s line about lower-income folks lacking “skin in the game.” This incredible statement gets right to the heart of why these people suck.

Why? It's not because Schwarzman is factually wrong about lower-income people having no “skin in the game,” ignoring the fact that everyone pays sales taxes, and most everyone pays payroll taxes, and of course there are property taxes for even the lowliest subprime mortgage holders, and so on.

It’s not even because Schwarzman probably himself pays close to zero in income tax – as a private equity chief, he doesn’t pay income tax but tax on carried interest, which carries a maximum 15% tax rate, half the rate of a New York City firefighter.

The real issue has to do with the context of Schwarzman’s quote. MORE...

Howie P.S.: Here's the video's double entendre dialogue:

The people are revolting.
You said it, they stink on ice.

Memo to Olympia: "How to Close Washington's Budget Gap"

Keegan Hamilton (Seattle Weekly):

Occupy protestors are laying siege to Olympia, demanding that lawmakers close the state's $2 billion budget deficit by taxing Washington's richest residents. An income tax is out of the question for the special legislative session, but a pair of policy experts say there are other ways to make the 1 percent pay their fair share. MORE...

"President Obama Discusses Economy in Kansas" (with video)

C-SPAN, with video (01:02:48):

Pres. Obama travels to Osawatomie, Kansas to deliver remarks on the economy where he invoked Theodore Roosevelt's populism and challenged Republican belief in trickle-down economics.

That’s a theory that speaks to our individualism, Obama said, "but here’s the problem, it doesn’t work. It has never worked."

He highlighted the 99% protests and agreed with the premise of the demonstrators: the richest 1% are obtaining more wealth than the rest of the American population.

"This kind of inequality – a level we haven’t seen since the Great Depression – hurts us all. When middle-class families can no longer afford to buy the goods and services that businesses are selling, it drags down the entire economy, from top to bottom," he said.

The President promoted his economic priorities, including the extension and expansion of a payroll tax cut, which Congress has rejected.

Speaking to an enthusiastic audience, Obama said a strong economy starts with education, which he declared a "national mission."

The speech was billed as a "make-or-break moment for the middle class and all those working to join it," according to the White House. "We shall go up or down together," he said.

Howie P.S.: Now we have to pay attention and watch how this message plays out. Chris in Paris (AMERICAblog) gives voice to some skepticism on this front. Politico offers "Barack Obama channels Teddy Roosevelt." More skepticism about "President Obama's Latest Big Damn Speech About the Economy" from The Rude One. Chris in Paris (AMERICAblog) posts again: "Prosecuting Wall Street not possible, but prosecuting food stamp fraud is."

Maria Cantwell: "Sign the Fairness First Petition"

Maria Cantwell:

Tell the Super Congress they CANNOT cut Medicare without asking millionaires to pay their share. We, the undersigned, believe that a fair solution to the deficit problem starts with asking everyone to pay their fair share–and that includes Big Oil, Wall Street executives, and America’s millionaires and billionaires.


Signed,

YOUR NAME +43778 OTHERS HERE.

Danny Westneat (Seattle Times): "Companies enjoying tax breaks should 'give three' percent back"

Danny Westneat (Seattle Times, op-ed):

The state workers' union meant to be combative. But last week, in throwing down the political equivalent of a schoolyard taunt, I think they hit on an idea with legs.

The backdrop was our grim-reaper governor, once again at the mike to say she must throw poor people off health insurance, jam the public-school classrooms with 30-plus kids in each and gut the universities.

I have no choice, she kept saying. My pocketbook is empty.

Both Democrats and Republicans nodded gravely and then dipped into their stock of times-are-tough clichés. We've looked under every rock. It's all on the table. Nobody is spared the pain.

Bull, said the union. MORE...

"Chart of the day"

Shaun (Upper Left):

Steve Benen graphs the new WaPo/Bloomberg poll...

"Mr. President we need JOBS now" (video)

wastatelc, with video (02:26):

JOBS were the focus of nearly 1,000 people who gathered outside President Obama's fundraiser in Seattle on Sunday, Sept. 25, 2011. Labor, community groups, seniors and everyday people rallied to support the President and to hold him accountable in his promise to protect the middle class, create jobs and not cut Social Security, Medicare and Medicaid.

Howie P.S.: Jay Inslee appears at the end of the video to express his support.

Ed Schultz on Right-wing talkers: "Crybabies" (video)

MSNBC-ED Show, video (13:52).

Ezra Klein: "How much could a tax on millionaires raise?"

(Andrew Harrer - BLOOMBERG)

Ezra Klein (WaPo):

On Monday, the Obama administration will call for a new tax on income over $1,000,000. The details aren’t available yet, but various versions of of a millionaire’s tax have been floating around for some time now, so it’s possible to get a rough sense of what the tax could raise. MORE...

"Obama Proposes to Cut $467 Billion in Tax Breaks For Companies, Wealthy Americans" (with video)

Democracy Now! with video (14:24):

The White House said Monday President Obama is proposing cutting $467 billion in tax breaks for wealthier Americans and some companies to offset the cost of his job-creation plan. Obama is proposing limiting itemized deductions for Americans making $250,000 or more a year and ending tax breaks for oil companies, corporate-jet owners and investment-fund managers. Jack Lew is the White House Budget Director.

Jack Lew, White House budget director: "At it’s most simple level, what the President said on Thursday night stands and is profoundly true: we can’t afford everything. We have to make choices. And I think if the American people were asked to make a choice between tax breaks for investment fund managers who get preferential treatment for carried interest and oil and gas industry tax breaks that treat oil and gas more favorably than other investments and corporate jets that are treated more favorably than commercial, that is not a hard choice for most Americans. If the choice is creating economic growth and jobs or tolerating the results of many years of inequities in the tax code."

UNLESS HE CAN END THE BUSH TAX CUTS: "Obama faces tight restraints in crafting jobs plan"

AP:

Hamstrung by budget cuts and a tight debt ceiling, President Barack Obama is preparing a September jobs package with limited tools at his disposal to prime the economy and crank up employment.

At a minimum, the president's plan will call on Congress to extend current payroll tax cuts and jobless benefits, spend money for new construction projects and offer incentives to businesses to hire more workers. But economists say that while that would eliminate some drag on the economy and maintain the status quo, it won't be enough to propel it to new heights. MORE...

"President Obama: Next Chapter Of Deficit Reduction Will Include New Tax Revenue" (with video)

Colby Hall (MEDIAite) with video from MSNBC (08:20):

President Obama took to the White House lawn today and addressed the press shortly after the recent bill had been passed that raised the debt ceiling, and aimed to pivot the focused conversation to “a more balanced approach” to the fall season. The president’s response was muted in tone, downplaying any celebratory tone, and immediately presented the political agenda for next few months: lowering taxes for the lower and middle class and putting more revenue burden on the wealthy.

The president insisted that the next chapter of deficit reduction will focus on a revamped tax code and also hit some of the same talking points he made in the last few days, namely that the people may have voted for a divided government and not a dysfunctional one. “It shouldn’t take the risk of default or catastrophe for people in this town to come together and get something done.”

Patriotic Millionaires: "Please do the right thing for our country. Raise our taxes." (with video)

Patriotic Millionaires with video (01:29):

Read the Patriotic Millionaires' Stinging Letter to Senate and House Republicans here!

We are writing to urge you to put our country ahead of politics.

For the fiscal health of our nation and the well-being of our fellow citizens, we ask that you increase taxes on incomes over $1,000,000. MORE...

Howie P.S.: There are two people from Seattle who have signed the letter, Judy Pigott and Jonathan Fisher. H/t to Darryl. Now there's a poll, "Washington says tax the rich to cut deficit" (Chris Grygiel-SeattlePI.com). The Washington referred to here is the Evergreen State, not the other one where the Beltway is.

David Horsey: "Job creators..." (with cartoon)

(CLICK ON IMAGE TO ENLARGE)

David Horsey (SeattlePI.com):

It has been the case for a long time that modern-day politicians are barely able to speak unless they have memorized a set of talking points pre-approved and vetted by a team of spin doctors. It’s especially easy to detect this homogenizing influence when a new euphemism repeatedly pops up in the comments of an entire political caucus.

The current case in point: “job creators.” MORE...

"Can't win a class war unless we fight one"

Chris Bowers (Daily Kos):

There is a class war being fought in Washington, DC right now, but it's extremely one-sided and so the outcome is obvious. By contrast, in Wisconsin the class war is being fully engaged from both sides, and the outcome there is balanced on the edge of a knife. That shouldn't come as a surprise, since there is no way to win a class war unless you fight one. MORE...

H/t to Shaun.