Instead of the plodding turtle he's normally satirized as, Senate Majority Leader Mitch McConnell is all cat-on-a-hot-tin-roof about Trade Promotion Authority, better known as Fast Track.
He said as Congress convened this month that he wants to fast track Fast Track. He intends to ’git ’er done so fast no one notices that with it, Republicans will provide, as McConnell put it, “an enormous grant of power. . .to a Democratic President.”
Fast Track is nothing more than Congress pulling a fast one on the American people. It’s a plan for lawmakers to abdicate their Constitutional responsibility to regulate international trade. With Fast Track, Congress shirks its duty to subject trade deals to lengthy line-by-line scrutiny, fulsome public hearings and amendment.
While gratifying Wall Street and multinational corporations, past Fast-Tracked trade deals have battered American workers as factories fled off shore, wages stagnated and layoffs multiplied. Fast Track is an outmoded strategy for indolent politicians. Workers in the 21st Century deserve in-depth deliberation over trade proposals to ensure jobs, the environment, food safety and national sovereignty are protected. Mitch needs to back track on Fast Track.More ...
Jeb Bush and Mitt Romney are zeroing in on inequality as America's fundamental economic problem.
Bush's new Political Action Committee, called "The Right to Rise," declares "the income gap is real" but that "only conservative principles can solve it."
Mitt Romney likewise promised last week that if he runs for president he'll change the strategy that led to his 2012 loss to President Obama (remember the "makers" versus the "takers?") and focus instead on income inequality, poverty, and "opportunity for all people."
The Republican establishment's leading presidential hopefuls know the current upbeat economy isn't trickling down to most Americans.
But they've got a whopping credibility problem, starting with trickle-down economics.More ...
The House Democratic Party leadership made a remarkable step forward last week in putting out a proposal for a financial transactions tax (FTT). The proposal is part of a larger package which includes a substantial tax credit for workers, and also a limit on the tax deductibility of high CEO pay, but the FTT portion is the most remarkable.
There has long been interest in financial transactions taxes among progressive Democrats. The list of people who have proposed financial transactions taxes over the years includes Representatives Peter DeFazio and Keith Ellison, along with Senators Tom Harkin and Bernie Sanders.
But the proposal last week came from Representative Chris Van Hollen, who is part of the party's leadership. And Minority Leader Nancy Pelosi indicated that she also supports the proposal. This means that financial transactions taxes are now part of the national debate on tax and financial policy.More ...
On Sunday, New York Governor Andrew Cuomo (D) unveiled several new proposals, including a call to raise the minimum wage to $11.50 an hour in the city and $10.50 an hour for workers in the rest of the state.
“It’s too easy to say, ‘Get a job,’ ” Cuomo said during a press conference in Manhattan. “You need to get a job, which means you need to have the training and the skills to get the job, which means the job has to exist, and when you get the job, it means the job has to pay enough so you can pay for rent and you can pay for food and it is a sustainable wage.”
The minimum wage in New York is currently $8.75 an hour, boosted from $7.25 in 2013, and is set to reach $9 an hour by 2016. Cuomo, noting that “the wage gap has continued to increase,” proposed that the $10.50 and $11.50 minimum wages go into effect at the end of 2016.More ...