13
   

Monitoring Biden and other Contemporary Events

 
 
hightor
 
  1  
Reply Sat 23 Dec, 2023 07:14 am
Quote:
Data from the Bureau of Economic Analysis released today showed inflation continuing to come down. In November the Personal Consumption Expenditures (PCE) price index was 2.6% over the previous November, down from 2.9% in October. The Federal Reserve aims for 2%. Falling gas prices meant that overall, prices actually dropped in November for the first time since April 2020.

In a statement, President Joe Biden reminded Americans that “[a] year ago, most forecasters predicted it would require a spike in joblessness and a slowdown to get inflation down. I never believed that. I never gave up on the hard work, grit, and resilience of millions of Americans.” In addition to the falling inflation rate, he noted that “the unemployment rate has stayed below 4 percent for 22 months in a row, and wages, wealth, and the share of working-age Americans with jobs are higher now than they were before the pandemic began.”

“But,” he said, “our work is far from finished.” To continue to lower prices for hardworking families, he said, he is focused “on lowering costs—from bringing down the price of insulin, prescription drugs, and energy, to addressing hidden junk fees companies use to rip you off, to calling on large corporations to pass savings on to consumers as their costs moderate.”

The administration is highlighting economic numbers not just because they are good—and they are: real gross domestic product (GDP) grew by an astonishing annual rate of 4.9% in the third quarter of 2023; under Trump it was 2.5% before the pandemic knocked the bottom out of everything—but also because they illustrate the administration’s return to an economic theory under which the U.S. government operated from 1933 to 1981.

In those years the federal government focused on supporting people on the “demand side” of the economy in the belief that what drives economic growth is demand for goods and services. This theory means that the government should work to make sure workers and those at the bottom of the economy have money to afford the goods and services they need. This theory suggests that education and good wages and a basic social safety net are good for the economy because they enable people to have enough disposable income that they can buy things.

After President Ronald Reagan took office in 1981, though, a different economic theory took hold. People in power believed that what drives growth is not the demand side, but rather the “supply side” of the economy: the people who create goods and services. This theory means that the government should work to make sure that producers can concentrate wealth and use it however they wish, because they will invest in the economy, producing more goods more cheaply and thus creating more jobs at better wages. This theory calls for little business regulation or taxation, both of which hurt the accumulation of wealth, and trusts market forces, rather than government policies, to keep the economy fair.

Neither of these theories is new in the United States, although in every incarnation they have had different elements and emphases. But today the struggle between those who believe in one side or the other is central to politics.

While Biden and the Democrats are working hard to support the demand side of the economy, Republicans are firmly in the camp of the supply side. On this date in 2017, then-president Trump signed into law the Tax Cuts and Jobs Act, sometimes referred to as the Trump tax cuts. Passed with Republican votes alone, the law cut tax rates for individuals until 2025 but made cuts in the corporate tax rate from 35% to 21% permanent.

Together with the tax cuts enacted in 2001 and 2003 under President George W. Bush and made permanent by lawmakers of both parties in 2013, the Trump tax cuts went primarily to households in the top 1% and to large corporations. In testimony in May 2023 before the Senate Committee on the Budget, tax analyst Samantha Jacoby of the Center on Budget and Policy Priorities noted that these tax cuts “ballooned deficits” while there is little evidence that they promoted growth.

Bobby Kogan from the Center for American Progress, who previously worked in the Biden-Harris White House, noted in March 2023 that Reagan’s tax cuts, which amounted to about $10 trillion, started a bipartisan effort to reduce spending and increase revenues. Those efforts meant that President Bill Clinton left office with budget surpluses. At the time, the nonpartisan Congressional Budget Office projected that even with an aging population and increasing healthcare costs, revenues would keep up with the costs of domestic programs.

But the massive Bush tax cuts threw that projection off. By the end of fiscal year 2023, those cuts will have cost more than $8 trillion, and most of the savings went to the wealthy. Trump’s tax cuts continued both of those patterns: they will cost about $1.7 trillion by the end of fiscal year 2023 and they, too, benefited primarily the wealthy and corporations. At a cost of almost $10 trillion, these combined tax cuts are central to the budget deficit and growing national debt.

For all the complaints about American tax rates, the U.S. ranks 32nd out of 38 nations in revenue as a percentage of GDP in the Organization for Economic Cooperation and Development (OECD), a group of market-based democracies devoted to “achiev[ing] the highest sustainable economic growth and employment and a rising standard of living.” The U.S. is so much below the average ratio that if its ratio were simply average, it would bring in $26 trillion more over 10 years.

Yet Republicans back making all the Trump tax cuts permanent; Trump and his advisors have called for still deeper tax cuts, possibly cutting the corporate tax rate to 15%; and House Republicans want to cut funding for the Internal Revenue Service that enables it to audit wealthy tax cheats.

Meanwhile, Republican representative David Schweikert (R-AZ), vice chair of the Joint Economic Committee of Congress, who is deeply concerned about the budget deficits, believes that what is driving those deficits is that Americans are aging. Like many of his colleagues, including Republican presidential candidate Nikki Haley, he believes the answer to fixing the budget is cutting Social Security, Medicare, and other services.

Tax policy and economic news sometimes come across as piecemeal and dull, but they are, at the end of the day, the story of how we think societies prosper and what role governments and markets should play to nurture that prosperity.

hcr
blatham
 
  3  
Reply Sat 23 Dec, 2023 07:23 pm
@hightor,
Quote:
Yet Republicans back making all the Trump tax cuts permanent; Trump and his advisors have called for still deeper tax cuts, possibly cutting the corporate tax rate to 15%; and House Republicans want to cut funding for the Internal Revenue Service that enables it to audit wealthy tax cheats.

Yes. This may be the most fundamental dynamic in the operations of the American right. All sorts of their goals are facilitated through hobbling/crippling representative government.
glitterbag
 
  3  
Reply Sat 23 Dec, 2023 11:59 pm
@blatham,
This is the same dynamic that occurs when a particular religion wants to force everyone to belong to their church. But they also need to to remind the non-believers that they are filth and should be made to suffer, because that's the only way they can feel important. See how easy that is, they are the same kids who bullied others in schools......can't give it up, makes them pretend they are powerful.
Walter Hinteler
 
  3  
Reply Sun 24 Dec, 2023 01:07 am
@glitterbag,
glitterbag wrote:
This is the same dynamic that occurs when a particular religion wants to force everyone to belong to their church.
Germany was shaped by such.
With the Treaty of Augsburg in 1555, Lutheranism was recognised alongside Catholicism. From then on, every German sovereign was able to determine the denomination in his territory: cuius regio, eius religio.

The imperial and religious peace of1555 marked the beginning of the confessional coexistence of Christian denominations, which has given them a status under public law in Germany to the present day. After the religious wars of the Reformation, it guaranteed the peaceful organisation of a social future as an act of state tolerance.
However, the religious peace was initially the beginning of a state-imposed church system. But anyone who did not want to follow this could freely leave the territory of the sovereign with a guarantee of ownership on the basis of the right to emigrate (ius emigrandi). (Many historians today see this as the first declaration of a human right).
For a long time, the Augsburg Treaty was viewed by Catholics in particular as a "loss of religious unity" and recognition of religious division. Today, the Peace of Augsburg is regarded as the basis of modern intercultural tolerance, of "living diversity without the use of force".
0 Replies
 
izzythepush
 
  1  
Reply Sun 24 Dec, 2023 04:58 am
I'm referring to a point made in another, collapsed, thread, to whit that Biden is not his own man, there is a power behind him.

That's a load of old bollocks, nobody is controlling Biden, he's not the catspaw of the "international jewish conspiracy."

He has his own reasons for supporting Israel and I have posted a Guardian article to say why that is, and why he is at odds with a lot of his party over this.
blatham
 
  2  
Reply Sun 24 Dec, 2023 08:58 am
@glitterbag,
Quote:
This is the same dynamic that occurs when a particular religion wants to force everyone to belong to their church. But they also need to to remind the non-believers that they are filth and should be made to suffer, because that's the only way they can feel important. See how easy that is, they are the same kids who bullied others in schools......can't give it up, makes them pretend they are powerful.

I find it helpful and clarifying to make a differentiation between the Christian Right and the "Libertarian" (Grover Norquist, Koch crowd) faction. They have different histories and different goals even while having come to cooperate for mutual benefit.

There's no evidence I've found that Norquist or Charles Koch (along with the corporate interests under that umbrella) give a toss about LGBTQ/sexuality issues, evolutionary theory or abortion rights. Their beef is with government that constrains their ever-voracious predation of the world around them and their competitive lust for wealth and power. They recognize, correctly, that democratic government (along with unions and effective journalism) is the barrier to getting what they want. And the more they can manage to defund government, the less capability it will have to stop them (while at the same time, opening up huge revenue streams through privatization of government operations such as education).

The Christian Right, is a more recent phenomenon going back only to the 70s and 80s as Evangelicals and extremist Catholics began to organize in association with the Republican Party (Weyrich, Falwell, Buchanan, Pat Robertson, etc) in order to move the nation's laws and personnel towards theocracy or, one might say, Christofascism. Outside of their political need to align with the Libertarian crowd, they probably wouldn't much care on most matters of taxation so long as some significant portion of the tax regime comes to them (as a form of justifiable and righteous tithing) and that none of tax regime targets them and their activities.
0 Replies
 
blatham
 
  3  
Reply Sun 24 Dec, 2023 09:09 am
@izzythepush,
Quote:
I'm referring to a point made in another, collapsed, thread, to whit that Biden is not his own man, there is a power behind him.

That's a load of old bollock
s, nobody is controlling Biden, he's not the catspaw of the "international jewish conspiracy."

Good man. Of course it is a load of bollocks. But the idea is broadly circulated in right wing circles - the sources that Lash regularly feeds from - as agitprop and/or as another instance in a very long history of conservatives' fondness for simplistic paranoid theorizing. The Paranoid Style in American Politics
hightor
 
  2  
Reply Sun 24 Dec, 2023 10:13 am
(A few excerpts from a long article. I thought about posting the whole thing because of the historical framework the author provides, but the people whose beliefs it challenges wouldn't bother to read it anyway.)

The Decolonization Narrative Is Dangerous and False

It does not accurately describe either the foundation of Israel or the tragedy of the Palestinians.

Simon Sebag Montefiore wrote:
(...)

I always wondered about the leftist intellectuals who supported Stalin, and those aristocratic sympathizers and peace activists who excused Hitler. Today’s Hamas apologists and atrocity-deniers, with their robotic denunciations of “settler-colonialism,” belong to the same tradition but worse: They have abundant evidence of the slaughter of old people, teenagers, and children, but unlike those fools of the 1930s, who slowly came around to the truth, they have not changed their views an iota. The lack of decency and respect for human life is astonishing: Almost instantly after the Hamas attack, a legion of people emerged who downplayed the slaughter, or denied actual atrocities had even happened, as if Hamas had just carried out a traditional military operation against soldiers. October 7 deniers, like Holocaust deniers, exist in an especially dark place.

The decolonization narrative has dehumanized Israelis to the extent that otherwise rational people excuse, deny, or support barbarity. It holds that Israel is an “imperialist-colonialist” force, that Israelis are “settler-colonialists,” and that Palestinians have a right to eliminate their oppressors. (On October 7, we all learned what that meant.) It casts Israelis as “white” or “white-adjacent” and Palestinians as “people of color.”

This ideology, powerful in the academy but long overdue for serious challenge, is a toxic, historically nonsensical mix of Marxist theory, Soviet propaganda, and traditional anti-Semitism from the Middle Ages and the 19th century. But its current engine is the new identity analysis, which sees history through a concept of race that derives from the American experience. The argument is that it is almost impossible for the “oppressed” to be themselves racist, just as it is impossible for an “oppressor” to be the subject of racism. Jews therefore cannot suffer racism, because they are regarded as “white” and “privileged”; although they cannot be victims, they can and do exploit other, less privileged people, in the West through the sins of “exploitative capitalism” and in the Middle East through “colonialism.”

This leftist analysis, with its hierarchy of oppressed identities—and intimidating jargon, a clue to its lack of factual rigor—has in many parts of the academy and media replaced traditional universalist leftist values, including internationalist standards of decency and respect for human life and the safety of innocent civilians. When this clumsy analysis collides with the realities of the Middle East, it loses all touch with historical facts.

(...)

The Israel-Palestine conflict is desperately difficult to solve, and decolonization rhetoric makes even less likely the negotiated compromise that is the only way out.

Since its founding in 1987, Hamas has used the murder of civilians to spoil any chance of a two-state solution. In 1993, its suicide bombings of Israeli civilians were designed to destroy the two-state Oslo Accords that recognized Israel and Palestine. This month, the Hamas terrorists unleashed their slaughter in part to undermine a peace with Saudi Arabia that would have improved Palestinian politics and standard of life, and reinvigorated Hamas’s sclerotic rival, the Palestinian Authority. In part, they served Iran to prevent the empowering of Saudi Arabia, and their atrocities were of course a spectacular trap to provoke Israeli overreaction. They are most probably getting their wish, but to do this they are cynically exploiting innocent Palestinian people as a sacrifice to political means, a second crime against civilians. In the same way, the decolonization ideology, with its denial of Israel’s right to exist and its people’s right to live safely, makes a Palestinian state less likely if not impossible.

(...)

Israel has done many harsh and bad things. Netanyahu’s government, the worst ever in Israeli history, as inept as it is immoral, promotes a maximalist ultranationalism that is both unacceptable and unwise. Everyone has the right to protest against Israel’s policies and actions but not to promote terror sects, the killing of civilians, and the spreading of menacing anti-Semitism.

The Palestinians have legitimate grievances and have endured much brutal injustice. But both of their political entities are utterly flawed: the Palestinian Authority, which rules 40 percent of the West Bank, is moribund, corrupt, inept, and generally disdained—and its leaders have been just as abysmal as those of Israel.

Hamas is a diabolical killing sect that hides among civilians, whom it sacrifices on the altar of resistance—as moderate Arab voices have openly stated in recent days, and much more harshly than Hamas’s apologists in the West. “I categorically condemn Hamas’s targeting of civilians,” the Saudi veteran statesman Prince Turki bin Faisal movingly declared last week. “I also condemn Hamas for giving the higher moral ground to an Israeli government that is universally shunned even by half of the Israeli public … I condemn Hamas for sabotaging the attempt of Saudi Arabia to reach a peaceful resolution to the plight of the Palestinian people.” In an interview with Khaled Meshaal, a member of the Hamas politburo, the Arab journalist Rasha Nabil highlighted Hamas’s sacrifice of its own people for its political interests. Meshaal argued that this was just the cost of resistance: “Thirty million Russians died to defeat Germany,” he said.

Nabil stands as an example to Western journalists who scarcely dare challenge Hamas and its massacres. Nothing is more patronizing and even Orientalist than the romanticization of Hamas’s butchers, whom many Arabs despise. The denial of their atrocities by so many in the West is an attempt to fashion acceptable heroes out of an organization that dismembers babies and defiles the bodies of murdered girls. This is an attempt to save Hamas from itself. Perhaps the West’s Hamas apologists should listen to moderate Arab voices instead of a fundamentalist terror sect.

(...) atlantic
PoshSpice
 
  -1  
Reply Sun 24 Dec, 2023 10:20 am
@izzythepush,
I neither thought nor said anything about ‘an international Jewish conspiracy.’ Many people acknowledge the existence of an oligarchy, as do I.
PoshSpice
 
  -2  
Reply Sun 24 Dec, 2023 10:28 am
@blatham,
Biden can’t find his way off a stage and can’t string together four intelligible words, but sure. He has no minders.

Haha.
0 Replies
 
izzythepush
 
  1  
Reply Sun 24 Dec, 2023 10:39 am
@PoshSpice,
That's the difference between expressed and implied communication.

I wanted to leave no doubt

As for Oligarchs, the mega rich have always supported the right.

My problem with Biden begins and ends with his stance on Israel.
hightor
 
  2  
Reply Sun 24 Dec, 2023 10:44 am
Remind you of someone?
0 Replies
 
PoshSpice
 
  -1  
Reply Sun 24 Dec, 2023 10:57 am
@izzythepush,
In the US, both parties are working for the same people.
Glennn
 
  0  
Reply Sun 24 Dec, 2023 12:13 pm
@hightor,
It's okay to discuss the past, but at this moment tens of thousands of innocent human beings have been murdered, hundreds of thousands of them are being starved, and their homes razed to the ground with the blessing and support of the biden administration.

Montefiore appears to be offering an apologist's perspective in response to war crimes being perpetrated upon Palestinians in real time. It seems a distraction.
Real Music
 
  2  
Reply Sun 24 Dec, 2023 12:27 pm
@PoshSpice,
Quote:
In the US, both parties are working for the same people.

1. False equivalence is a type of logical fallacy in which a person attempts to draw an equivalence between two things based on the presence of a few shared features when those two things are not alike in the relevant respects.

2. Comparing a boulder to a pebble is a great illustration of this fallacy. Although both are rocks, they differ significantly in size, weight, and other properties.

3. Comparing them as if they were equivalent would be a false equivalence.
blatham
 
  4  
Reply Sun 24 Dec, 2023 12:40 pm
Somebody said...
Quote:
Biden can’t find his way off a stage and can’t string together four intelligible words

immediately following where I'd written...
Quote:
ideas broadly circulated in right wing circles - the sources that Lash regularly feeds from
hightor
 
  1  
Reply Sun 24 Dec, 2023 12:53 pm
@blatham,
I think somebody said something very similar around 1:34 in the above video!
hightor
 
  4  
Reply Sun 24 Dec, 2023 01:05 pm
@Glennn,
It's gotten a lot worse – he wrote that piece 2 or 3 weeks into the conflict.

But I'm not giving Hamas a pass here. They knew goddamn well that Netanyahu would throw everything he had at Gaza in response to the massacre. Civilians bear the brunt of the attacks while Hamas fighters shelter underground. They willingly offered civilians as a sacrifice knowing that their suffering would be potent propaganda against Israel.

And I don't recall seeing anyone in the Biden administration "blessing" anything.
blatham
 
  2  
Reply Sun 24 Dec, 2023 01:05 pm
@Real Music,
Well done. You've spotted the precise fallacy being tossed out by Somebody. And it's more than just carelessness of thought, though it is certainly that.
0 Replies
 
blatham
 
  3  
Reply Sun 24 Dec, 2023 01:13 pm
@hightor,
That's one of the best pieces I've read on this issue. Thank you!
0 Replies
 
 

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