Day: June 29, 2010

Won’t Somebody Think of the Fatcats?

FinReg Conference Committee headed back to the table:

In an extraordinary move aimed at winning over reluctant Republican senators, the top Democratic negotiators on the Wall Street reform bill will reopen the conference committee Tuesday to swap out a controversial $19 billion tax on big banks, according to House and Senate aides.

Yes, you read that right. Fresh off nearly destroying the global economy, fresh off being bailed out to the tune of trillions of dollars, fresh off the entire affair being compared to “an ant” by Boehner, the GOP is again moving the goalposts (and being allowed to do so by Democrat asshat enablers, which on this occasion includes Russ Feingold (D-Wis.); thanks a lot, and I hope you enjoy your years in the minority).
The banksters just can’t be held accountable for any amount money, no matter how small, no matter how justified, no matter how directly related to their own future operations. Not even a relatively paltry $19 billion that’s intended to bail their sorry asses out in the not-too-distant future. Nope. That’s also coming out of your ass, American Taxpayer. Hope you enjoy it. The GOP got it just for you. Because you’re special. See you in 2010.

The Plan

Ezra Klein notes the outcome of some polling on what the average American thinks should be done:

1. Raise the limit on taxable earnings so it covers 90% of total earnings.
2. Reduce spending on health care and non-defense discretionary spending by at least 5%.
3. Raise tax rates on corporate income and those earning more than $1 million.
4. Raise the age for receiving full Social Security benefits to 69.
5. Reduce defense spending by 10% – 15%.
6. Create a carbon and securities-transaction tax.

I don’t see any of these that are antithetical to the broad strokes of Democratic policy, at least as it has played out under Obama. Plus, these are the popular ideas. So steal them. This should be the Aims for a Renewed America (or whatever). You run on it across the board. Individual candidates may feel free to leaven in some Wall St. Fatcat mentions such that they can play down #4.

You’ve already allowed the Republicans to devestate whatever recovery there was…you’d damned well better have a platform that, in a stroke, both recognizes that we have a serious problem and outlines real, substantive, measurable ways to address it. Starting our First Day back in the Congress.

You got a better idea, Reid? Didn’t think so.