Monday Reads: Imagine there’s no country …
Posted: August 13, 2012 Filed under: morning reads | Tags: critter cam, Gusher up economics, kitty cam, Romney Ryan get rich plans, Rungwe 76 Comments
good morning!
The Olympics closed last night with a beautiful tribute to John Lennon. He was truly a remarkable man. Meanwhile, we have people with a twisted vision of the future–and little imagination–running f0r higher office here.
and no Social Security too ….
Meanwhile, we struggle to hold on to everything this country used to stand for. Here’s a post that lets you know exactly why those nuns are on that bus are protesting the nasty Paul Ryan/Mitt Romney/Republican way to burn down the entire country. I’m just going to give you the bottom line on the social security proposal. There’s more at the WAPO link.
Ryan’s Social Security privatization proposal, the Social Security Personal Savings Guarantee and Prosperity Act of 2005, which he sponsored along with then-Sen. John Sununu (whose father has been a prominent Romney surrogate), would have allowed workers to funnel an average of 6.4 percent of their 12.4 percent payroll-tax contribution to a private account. Lower-income workers would be able to divert more of their wages, as the plan allows 10 percent of income up to $10,000 and 5 percent of income up to the payroll tax cap to be diverted. By default, the private account would be invested in a portfolio set by the Social Security Administration of 65 percent stocks and 35 percent bonds. Workers could choose an 80/20 stock-bond portfolio, or a 50-50 portfolio, but would not be able to pick individual stocks or bonds. At retirement, all participants in the plan would be required to buy an annuity.
The Social Security Administration concluded that the Ryan-Sununu plan would require huge increases in general budget revenue to make up the shortfall left in payroll tax revenue. Specifically, revenue would have to increase by 1.5 percent of GDP every year, an analysis by the Center for Budget and Policy Priorities found, or about $225 billion at current GDP. That’s a big honking tax hike. What’s more, under the plan, investments in the stock and bond markets would skyrocket such that by 2050, every single stock or bond in the United States would be owned by a Social Security account. This would mean that the portfolio managers at the Social Security Administration would more or less control the entire means of production in the United States.
Funnily enough, Ryan also proposed a resolution in 1999 that passed the House (with only Ron Paul voting against) expressing the sense of the body that Social Security should be maintained without any changes to benefits for current retirees or increases taxes.
and Weather that we’ll die from …
Get used to the extreme weather and drought.
BY many measurements, this summer’s drought is one for the record books. But so was last year’s drought in the South Central states. And it has been only a decade since an extreme five-year drought hit the American West. Widespread annual droughts, once a rare calamity, have become more frequent and are set to become the “new normal.”
Until recently, many scientists spoke of climate change mainly as a “threat,” sometime in the future. But it is increasingly clear that we already live in the era of human-induced climate change, with a growing frequency of weather and climate extremes like heat waves, droughts, floods and fires.
Future precipitation trends, based on climate model projections for the coming fifth assessment from the Intergovernmental Panel on Climate Change, indicate that droughts of this length and severity will be commonplace through the end of the century unless human-induced carbon emissions are significantly reduced. Indeed, assuming business as usual, each of the next 80 years in the American West is expected to see less rainfall than the average of the five years of the drought that hit the region from 2000 to 2004.
That extreme drought (which we have analyzed in a new study in the journal Nature-Geoscience) had profound consequences for carbon sequestration, agricultural productivity and water resources: plants, for example, took in only half the carbon dioxide they do normally, thanks to a drought-induced drop in photosynthesis.
a brotherhood of the few …
A few numbers crunched at The Atlantic shows that “Mitt Romney Would Pay 0.82 Percent in Taxes Under Paul Ryan’s Plan”.
Under Paul Ryan’s plan, Mitt Romney wouldn’t pay any taxes for the next ten years — or any of the years after that. Now, do I know that that’s true. Yes, I’m certain.
Well, maybe not quite nothing. In 2010 — the only year we have seen a full return from him — Romney would have paid an effective tax rate of around 0.82 percent under the Ryan plan, rather than the 13.9 percent he actually did. How would someone with more than $21 million in taxable income pay so little? Well, the vast majority of Romney’s income came from capital gains, interest, and dividends. And Ryan wants to eliminate all taxes on capital gains, interest and dividends.Romney, of course, criticized this idea when Newt Gingrich proposed it back in January by pointing out that zeroing out taxes on savings and investment would mean zeroing out his own taxes.
Hey, they are still calling him Mitt the Twit in the UK.
Some Fun stuff to take your mind off Monday:
- The National Geographic & University of Georgia Kitty Cams (Crittercam)Project; “A window into the world of free-roaming cats”. Lots of pictures from a cat’s point of view.
- Weird Grave stuff of the day: A cache of severed right hands are found in a dig of Ancient Egypt. Hey! Every one needs a hobby!!
A team of archaeologists excavating a palace in the ancient city of Avaris, in Egypt, has made a gruesome discovery.The archaeologists have unearthed the skeletons of 16 human hands buried in four pits. Two of the pits, located in front of what is believed to be a throne room, hold one hand each. Two other pits, constructed at a slightly later time in an outer space of the palace, contain the 14 remaining hands.They are all right hands; there are no lefts.
- “Baby Elephant in France Wows Visitors to Zoo: 19 day-old Rungwe is proving a popular new addition to the Beauval wildlife park in France.” How would you like to be preggers for two entire years like Rungwe’s mom?
Alright, that’s enough for me. What’s on your reading and blogging list today?
peej
Carissa
bostonboomer
ecocatwoman
mablue2
peggysue22
quixote
skydancingguestblogger
Mona (aka Wonk the Vote)
Sky Dancing 
I love this post Dak.
Thanks!
Krugman: The Ryan Role – NYTimes.com
Cheers for Krugman, He should get a gold medal for punditry.
He’s an economist. The rest of the villagers have degrees in esoteric things like philosophy. How do you write about economic policy when you’ve never actually taken a economics course? It’s like trying to write for Popular Mechanics when you’ve never gone near a machine or writing for a computer magazine when you’re a Luddite!
The Villagers on the Morning Joe show are thrilled beyond belief about the Ryan pick for VP. They are calling him a “serious” person and talking about how “we” have to “tell the truth” to the American people–the “truth” being that any reduction of the deficit has to come from Medicare, etc. No mention of tax increases for the wealthy of course….
No mention of the fact that Ryan has had his name on only two bills that were passed either.
I always like your comments BB……………..question is what 2 bills were passed.
One bill was to name a post office after Les Aspin. The other one had to do with a tax on arrows or something like that.
http://www.huffingtonpost.com/2012/08/12/paul-ryan-bills_n_1769816.html?ir=Politics
I like your comments too!
Thanks again BB………..I see Les Aspin was sect. defense under Bill Clinton from Milwaukee.
Ryan went straight from college to governmental staff aid………….did less than 1 year marketing under his dad’s company. I can’t understand why all complain, and complain about government, government workers, government all fucked up, and then think someone is qualified for the job as VP solely working in government. Why do they do that? Seems like these ae all the people who are also married to tax attorney………..as his wife is. Why is that? 13 years and only 2 bills, I mean to tell you that is a piss ass poor story.
Fannie,
I learned from reading Charlie Pierce today that Ryan’s grandfather made his fortune building highways–you know those big government projects that Eisenhower paid for by taxing the rich at 75%?
Yup…your right BB…I also saw that in one of the Ryan biography post somewhere, I even think it was on one of the right leaning sites.
The Villagers on Morning Joe are all millionaires. That is a feature, not a bug, of today’s media. We;re not going to hear any “truth” from them outside an imagined narrative.
Of course not. But it gives me a sense of what these freakazoids are thinking, since I watch almost no TV.
Right. It’s certainly not just MJ, it’s all the contemporary media. I’ve stayed away from TV for a long time because of that.
It’s simply amazing that even along with the suggestion of gutting Social Security and the fact that Romney would thus reduce his tax revenues down to zero, there are still those out there unfazed by this and willing to vote for this ticket agains their own interests.
It’s also astounding that millionaires who do not have to worry about where their next meal is coming from are those in charge of our future.
Plutocracy, oligarchy, it’s all the same while the majority will be tasked with the burden of trying to live with these radical measures while nothing whatsover touches the “haves”.
The Olympics closed last night with a tribute to John Lennon which got me thinking:
Imagine we all had UHC.
Imagine fewer kids went to bed hungry.
Imagine women being treated equal.
Imagine gays not having to “hide” who they are.
Imagine the environment being maintained.
Imagine all babies being wanted.
Imagine school children pushing kids into higher education.
Imagine that cost being minimal.
Imagine a reduction in war materials.
Imagine a nation dedicated to one man, one vote.
Imagine elections being funded solely by the populace.
Imagine the break up of “too big to fail” institutions.
Imagine a solid effort to eliminate diseases.
Imagine a nation where “lies” are not the staple of the day.
Imagine countries working together on behalf of all.
Imagine less dependency on fossil fuels.
Imagine a nation less enamored of guns.
Imagine a nation where science and education is acclaimed.
Imagine.
Amen, Pat
Yes imagine, and once I thought it was possible. It all went wrong. Politicians did that and money men plutocrats did that. Yet a lot of people don’t see what is so obvious, and as you say, Pat, vote against their own interests. Sad, very sad.
Candy Crowley is going to moderate one of the presidential debates.
Along with Bob Shieffer and Jim Lehrer–both ancient codgers and both Republicans.
Shieffer’s “investor” brother was one of the prime movers behind Dubya’s run for governor and his first major bundler for his presidential run. But he has no conflict of interest, of course, the prick.
On the day Ryan is supposed to be campaigning on Obama’s welfare destruction in Iowa, The Des Moines Register editorial board kicks Rmoney in the crotch, hard. This could leave a scar.
The Register editorial: Romney’s welfare talk misses reality
Power, reality and data based opinion in that. Too bad it’s Iowa so no one in the NY/DC bubble will pay attention.
It’s really a great editorial with no bombast but it’s gotta hurt in Iowa. If the rest of the media was that good. I would do cartwheels.
That link is “page restricted”. No can read
NWRain, It still works for me. I’ve no idea what could be wrong.
That’s a great editorial! I want to see Romney and Ryan try to live on $334 per month while working and somehow paying for food, transportation, and child care
I can’t read it either. Sounds good though. 🙂
That’s strange. It still opens for me. Here is part of it.
They also point out that lots of groups get money from the gov’t, and a lot more than welfare recipients–like oil companies, farmers, etc. Are they getting something for nothing? Should they work harder? Romney needs to explain exactly what he thinks these people should do for their $334 a month while at the same time the gov’t subsidizes corporations who use the money to enrich their CEOs.
Meanwhile, under Ryan’s plan, Romney won’t even pay any taxes to support government services, so he should STFU!
A quite twitter feed…
What a hoot!!
That’s one great twitter feed! Also Dak, I love this post.
Thx!
Here we go again: Texas A&M: Active shooter on campus apprehended
According to KHOU in Houston, 6 were injured including 2 police officers.
http://www.khou.com/news/local/Shooter-taken-into-custody-near-Texas-AM-campus-166002066.html
That link must have been updated, because now it says one officer is dead.
Not to worry — shooter probably has a concealed carry permit. Or the poor dear was just scared and “stood his ground”.
He was being evicted.
Paul Krugman probably writing from a socialist summer camp:
Romney/Ryan: The Real Target
Wow, I hope Krugman, keeps this up.
This just kills me that the media won’t report real facts like this,
Per Capita, Real GDP Growth
1950s 2.60%
1960s 2.84%
1970s 1.73%
1980s 1.51%
1990s 1.43%
2000s 0.19%
2010s 0.13%
++++
Okay, the past decade has been flat when you look at per capita, inflation adjusted GDP growth.
And these numbers look very much like Japan’s “lost decade”
But here’s the thing: the top 10% of America’s wealth earners, despite the worst environment for asset prices since the 1930s (worse, actually) saw their share of the nation’s GDP GROW by 8%.
There has been and remains an epic transfer of wealth from the poor and middle classes to the rich.
Because if you can’t get rich from a growing economy, the only other way is to do it by taking wealth out of peoples’ pockets and redistributing it.
That’s your Gusher up economics right there. Screw the country to make the rich richer.
That’s the very real “class warfare” that’s been going on for close to 30 years or longer. The rich taking from everyone else in reverse Robin Hood fashion.
I can’t help but wonder how much longer voters are going to sit back and let the people at the top of the economic pile piss on them while telling us it’s raining? You would think we would eventually get enough of it!
I’ve been wondering that for more than a decade now. Actually, I couldn’t believe people put up with Reaganomics.
Interesting. And when were unions the strongest? Mid 1950’s through the 1960’s.
Excellent Post Dak, Thanks!
Please read Charles Pierce today. Three of his last post are eye opening. It’s really to bad he does not get major press.
http://www.esquire.com/blogs/politics/paul-ryan-family-wealth-11644997
http://www.esquire.com/blogs/politics/paul-ryan-foreign-policy-11644918
http://www.esquire.com/blogs/politics/paul-ryan-new-york-times-profile-11644919
The second post brought me back to the “Shock Doctrine”. Naomi Klein’s documentary was great until she hailed Obama being elected as a “coming”. It would have been a wonderful educational film if edited.
So Paul Ryan is a good Catholic.
omigawsh that makes zombie eyed granny starver look like the kindest thing you could call his hypocritical ass
Pierce is amazing!!!!!
Pierce is really on a roll with the Ryan pieces! They are excellent.
Quote of the Day:
“If in fact, you do make contact with Martians please let me know right away. Because I’ve got a lot of other things on my plate but I suspect that that will go to the top of the list.”
— President Obama, quoted by CNN, in a phone call with members of NASA’s Curiosity Mars rover team.
The nightmarish image I’m receiving as I think about that “shining city on the hill” is Athens after the (possible) winners, “austerity” Ryan and a congressional Republican majority, turn the US into Greece, post-2013.
But, then, as I read more about Ryan’s budget and all the voters the Romney-Ryan ticket has alienated, and will alienate in time, I have to wonder who in their right-mind will vote for these twits, other than the die-hards.
I’m still voting we send them to Mars as a part of the Curiosity’s mission. There’s lots of austerity up there.
Because the media that people who are not informed read are painting Ryan as the next best invention since sliced bread, those people will not look further than that. Even the media that informed people read is painting his as a policy “Wonk”. As Dakini and Krugman and other economists have indicated, he is anything but, however it’s a toss up. Personally I quite concerned. but I’m a person who keeps herself informed. How many others are as informed as the people on this blog?
Too few I’m afraid but the job of the Obama campaign is to change that. I’ll be cheering them on in their efforts.
It looks like the shootings in Texas may have been by a homeowner who was being evicted. The law enforcement officers were there already when the shooting started. They weren’t responding to calls from the neighborhood.
http://www.cnn.com/2012/08/13/justice/texas-am-shooting/index.html
Dak, could you cancel my comment at 3:38? I used the wrong name.
I edited the name 😉 kept the comment, okee?
Thanks a bunch.
Helen Gurley Brown has died at age 90.
She had a good life, and she really did open the eyes of many women despite that stupid movie supposedly based on her best seller.. I have neither good not bad to say about the woman, other than she provided a high profile environment for other writers to finally break through in the gender issues. Every passing is a time for relection.
Paul Ryan may have used inside info to guide his stock trades. Brad DeLong says Ryan’s main problem is that he doesn’t know what he’s doing with his trades.
Yglesias explains that trading on inside info by Congresspeople wasn’t illegal in 2008 when Ryan did it. Besides the trades were made before he got the info. So never mind, but DeLong still says Ryan is dumb.
Red Sox Legend Johnny Pesky has died. He was 92.
Like his close friend Ted Williams, Pesky gave up three years of his baseball career to fight in WWII.
Some attacks are just so damn stupid I have no idea what to say about them 🙂
Boehner’s Office Says Obama Avoiding Personal Responsibility For Drought
What? He’s responsible for global warming and/or acts of gawd now? He’s asked them a bunch of times to extend the subsidy help!! wtf?
Didn’t Congress decide to go home without dealing with the farm bill? How is it Obama’s fault? And now he’s supposed to control the weather?
Boehner must have had a few too many before he put out that statement.
He must have been really drunk when they decided to go there 😉
Well that should get Charles Pierce going.
Good grief,so now Obama is substituting for their God? Every last nerve, I swear they are getting on every last nerve with this kind of stupidity.
Please be sure to click the link, Rich Kids of Instagram
http://www.huffingtonpost.com/2012/08/13/alexa-dell-twitter_n_1772587.html
Wow, ya know that’s kind of grotesque. Those kids will probably be useless.
Yea, but the baby boomers are so me, me, me generation. Sucking on the government teat. I’d like to stick my teat somewhere in the vincinity of “Cat food Simpson and Bowels” and every person who writes those damn baby boomer columns, while ignoring “we selfish a-holes boomers” keep having to “pay” more because of the crisis we created by being born in the same decade. They didn’t see that coming. Snark, Snark, Snark. Where is Monty Python when you need them?