“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.
Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.
Warren Buffet: Stop Coddling the Super-Rich
OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.
While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.
New York Times Editorial: A Jobs Agenda, Anyone?
In what can only be described as a triumph of bad policy and craven politics, Congress and the Obama administration have spent the year focused on budget cuts, as the economy has faltered and unemployment has worsened. Official unemployment is 9.1 percent, but it would be 16.1 percent, or 25.1 million people, if it included those who can only find part-time jobs and those who have given up looking for work. For the past two and a half years, there have been more than four unemployed workers for every job opening, a record high, by far. In a healthy market, the ratio would be about one to one.
By a large margin, Americans have told pollsters that job creation is more important than budget cuts. Yet Republican leaders are wedded to austerity and appear to think that high unemployment will hurt President Obama politically more than it will hurt them, so they will likely resist efforts to create jobs, no matter how great the need.
As expected, Rick Perry, the governor of Texas, has announced that he is running for president. And we already know what his campaign will be about: faith in miracles.
Some of these miracles will involve things that you’re liable to read in the Bible. But if he wins the Republican nomination, his campaign will probably center on a more secular theme: the alleged economic miracle in Texas, which, it’s often asserted, sailed through the Great Recession almost unscathed thanks to conservative economic policies. And Mr. Perry will claim that he can restore prosperity to America by applying the same policies at a national level.
So what you need to know is that the Texas miracle is a myth, and more broadly that Texan experience offers no useful lessons on how to restore national full employment.
Matt Miller: Why the center-left is fed up with Obama
Here’s the thing. I know Tea Party Republicans were behind the debt-ceiling standoff that wreaked needless damage on confidence in the United States. I wrote weeks ago of Standard & Poor’s outrageous nerve in threatening a downgrade when America’s ability to pay its debts can’t possibly be in doubt. In short, I know who the real villains are at this volatile moment.
So why am I so mad at Barack Obama?
I know I’m not alone. In conversations with folks across the center-left in recent days, everyone’s basically had it with the president. I’ve had policy frustrations before: Obama’s never aimed high enough on school reform and he’s failed miserably to advance a real jobs agenda, to name just two. I’ve said repeatedly that we need a third party to shake things up. But at the same time a part of me has always cut the president some slack – after all, look at the mess the man walked into! Yet somehow the debt-ceiling fiasco and the downgrade, punctuated by these horrific jobs numbers and stock market gyrations, has made something in me (and, I suspect, millions of others) snap.
Richard (RJ) Eskow: Shiny Happy Corporate People
Mitt Romney got a lot of press for telling a heckler at the Iowa State Fair that “corporations are people.” He did not go on to sing that Patti Smith song, People Have the Power.
But corporate “people” certainly do. Their power was on display this week, both in Washington and among the Republicans campaigning for the nomination.
John Nichols: Bernie Sanders Talks Up Primary Challenge to Obama as ‘a Good Idea for Our Democracy and for the Democratic Party’
Vermont Senator Bernie Sanders continues to argue that a Democratic primary challenge to President Obama would be “good for democracy and for the Democratic Party.”
Sanders will not be a candidate. The Vermont independent, who caucuses with Senate Democrats, is running for re-election in 2012.
But Sanders, who has been sharply critical of Obama’s compromises with the Republican right on economic and fiscal policy, continues to talk up the idea of a primary challenge as a vehicle to pressure the president from the left. He is not alone. Ralph Nader is actively encouraging a primary race. And one-third of Democrats and Democratic-leaning independents tell pollsters that they favor a primary challenge to the president, while just 59 percent oppose such a run.
Ben Adler: A Handful of Rural Right-Wing Extremists Chase Tim Pawlenty Out of the Race
A day after Saturday’s Iowa Straw Poll results came in-Michele Bachmann edged out Ron Paul, with Tim Pawlenty a distant third, just ahead of Rick Santorum and nobody Herman Cain-Pawlenty pulled the plug on his flagging presidential campaign. What does this tell us? That our system of nominating presidential candidates is badly broken, beholden to a small number of extremist party activists in a couple of arbitrarily chosen small, rural states and an unthinking media echo chamber.
The Iowa Straw Poll is not a nominating contest. No convention delegates are assigned there. It is a fundraiser for the Iowa state Republican Party. It is presumed to be significant because, according to campaign reporters like the New York Times’s Jeff Zeleny, it is “a test of organizing strength.” And organizing strength is considered an important capability in Iowa, where the anti-democratic caucus system depresses turnout relative to a normal primary. Since only hardcore activists will participate in the caucuses and they must be cajoled to the polls, the mind-numbing process of identifying and turning out every last supporter in Ottumwa County is a crucial component of campaigns to lead the free world. What this skill has to do with, say, balancing the federal budget is unclear. The mainstream media, meanwhile, reports on this ludicrous state of affairs as if it were an objective fact rather than a product of their own unhealthy obsession with Iowa. (After all, Iowa still only assigns a small number of delegates. If the media treated it like comparably sized Mississippi, the importance of who wins there would vanish.)
Robert Reich: Why the New Healthcare Law Should Have Been Based on Medicare (And What Democrats Should Have Learned By Now)
Remember the health-care debate? Congressional Republicans refused to consider a single-payer system that would automatically pool risks. They wouldn’t even consider giving people the option of buying into it.
The President and the Democrats caved, as they have on almost everything. They came up with a compromise that kept health care in the hands of private insurance companies. The only way to spread the risk in such a system was to require everyone to buy insurance.
Which is exactly what the two appellate judges in Atlanta objected to. The Constitution, in their view, doesn’t allow the federal government to compel citizens to buy something. “Congress may regulate commercial actors,” they wrote. “But what Congress cannot do under the Commerce Clause is mandate that individuals enter into contracts with private insurance companies for the purchase of an expensive product from the time they are born until the time they die.”
Most Americans seem to agree. According to polls, 60 percent of the public opposes the individual mandate. Many on the right believe it a threat to individual liberty. Many on the left object to being required to buy something from a private company.
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