#Corporate tax credits

[jay-weller]

Popular Tax Breaks Not Being Extended

Popular Tax Breaks Not Being Extended - #jayweller #Clearwater, #Constitution, #CreditCounseling, #FilingForBankruptcy, #Law, #tax, #WellerLegalGroup - https://www.jayweller.com/?p=9030

[nationallawreview]

Post Election – Expect Tax Legislation

I. Introduction With clear Republican victories in the White House and the Senate, and a very slim majority for either side in the House of Representatives, we can expect tax legislation in the coming year. It is expected that the President elect will likely seek to enact his economic agenda as quickly as possible. While Congress may work for bipartisan support of any such legislation,…

[histonics]

[carlocarrasco]

Philippines' credit ratings affirmed by S&P Global Ratings

The credit ratings of the Philippines for both long-term and short term were affirmed by the US-based S&P Global Ratings which also saw stronger economic growth for the country in the next few years, according to a Philippine News Agency (PNA) news article.  To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface… United States-based S&P Global…

[randyite]

[transmalewife]

I don't think americans realise what a nightmarish techno-dystopia they live in. Like I'm 23 and in NY last year i felt and behaved exactly like the elderly ppl she describes. Sometimes established, analogue solutions are better and involving technology makes them incomparably worse. Bus schedules being printed on paper and attached to bus stops is not a fucking problem to be fixed. it is a functioning system and even if it weren't REQUIRING PEOPLE TO HAVE A CHARGED SMARTPHONE AND SCAN A Q R CODE TO KNOW WHEN AND IF THE NEXT BUS WILL COME WOULD NOT BE THE WAY TO FIX IT HOLY SHIT. Even paying in cash requires you to interact with the credit card machine and dodge and fight off trick questions trying to steal your money or data

Its okay they could call me on a rotary faster than i could explain to them I’m old enough to know what a rotary phone is

[boreal-sea]

Biden’s 2025 would raise the child tax credits back to the levels they were at during the pandemic, an objectively good thing for literally everyone. Those benefits were slashed by Trump in 2017, and others trailed off after the pandemic “ended”. Biden is going to pay for it by undoing Trump’s tax cuts on wealthy corporations, aka by taxing them more.

You can bet your pants Trump won’t enact this budget if he wins the election.

[rodspurethoughts]

Community Reinvestment: Low Income Based Scholarships Providing Private School Vouchers to Arizona's Low-Income Families

Community Reinvestment: Low Income Based Scholarships is a new School Tuition Organization in Arizona that is making a positive impact on low-income families. The organization’s mission is to provide private school vouchers to students in low-income families, and to create a positive impact within communities. Photo by Julia M Cameron on Pexels.com Community Reinvestment: Low Income Based…

[lishapbs]

A corporate tax is a tax levied by the government on businesses. It is used to generate government revenue and fund public services. Corporate tax rates are typically higher than personal tax rates. Businesses must pay corporate taxes on their profits. The amount of tax owed is calculated based on the income, expenses, and other factors of the business. Certain business expenses can be deducted from taxable income, lowering the tax bill. Typically, corporate taxes are paid quarterly or annually.click here https://www.reyson.ae/corporate-tax-details/corporate-tax-readiness-in-uae

[mostlysignssomeportents]

Your car spies on you and rats you out to insurance companies

I'm on tour with my new, nationally bestselling novel The Bezzle! Catch me TOMORROW (Mar 13) in SAN FRANCISCO with ROBIN SLOAN, then Toronto, NYC, Anaheim, and more!

Another characteristically brilliant Kashmir Hill story for The New York Times reveals another characteristically terrible fact about modern life: your car secretly records fine-grained telemetry about your driving and sells it to data-brokers, who sell it to insurers, who use it as a pretext to gouge you on premiums:

https://www.nytimes.com/2024/03/11/technology/carmakers-driver-tracking-insurance.html

Almost every car manufacturer does this: Hyundai, Nissan, Ford, Chrysler, etc etc:

https://www.repairerdrivennews.com/2020/09/09/ford-state-farm-ford-metromile-honda-verisk-among-insurer-oem-telematics-connections/

This is true whether you own or lease the car, and it's separate from the "black box" your insurer might have offered to you in exchange for a discount on your premiums. In other words, even if you say no to the insurer's carrot – a surveillance-based discount – they've got a stick in reserve: buying your nonconsensually harvested data on the open market.

I've always hated that saying, "If you're not paying for the product, you're the product," the reason being that it posits decent treatment as a customer reward program, like the little ramekin warm nuts first class passengers get before takeoff. Companies don't treat you well when you pay them. Companies treat you well when they fear the consequences of treating you badly.

Take Apple. The company offers Ios users a one-tap opt-out from commercial surveillance, and more than 96% of users opted out. Presumably, the other 4% were either confused or on Facebook's payroll. Apple – and its army of cultists – insist that this proves that our world's woes can be traced to cheapskate "consumers" who expected to get something for nothing by using advertising-supported products.

But here's the kicker: right after Apple blocked all its rivals from spying on its customers, it began secretly spying on those customers! Apple has a rival surveillance ad network, and even if you opt out of commercial surveillance on your Iphone, Apple still secretly spies on you and uses the data to target you for ads:

https://pluralistic.net/2022/11/14/luxury-surveillance/#liar-liar

Even if you're paying for the product, you're still the product – provided the company can get away with treating you as the product. Apple can absolutely get away with treating you as the product, because it lacks the historical constraints that prevented Apple – and other companies – from treating you as the product.

As I described in my McLuhan lecture on enshittification, tech firms can be constrained by four forces:

I. Competition

II. Regulation

III. Self-help

IV. Labor

https://pluralistic.net/2024/01/30/go-nuts-meine-kerle/#ich-bin-ein-bratapfel

When companies have real competitors – when a sector is composed of dozens or hundreds of roughly evenly matched firms – they have to worry that a maltreated customer might move to a rival. 40 years of antitrust neglect means that corporations were able to buy their way to dominance with predatory mergers and pricing, producing today's inbred, Habsburg capitalism. Apple and Google are a mobile duopoly, Google is a search monopoly, etc. It's not just tech! Every sector looks like this:

https://www.openmarketsinstitute.org/learn/monopoly-by-the-numbers

Eliminating competition doesn't just deprive customers of alternatives, it also empowers corporations. Liberated from "wasteful competition," companies in concentrated industries can extract massive profits. Think of how both Apple and Google have "competitively" arrived at the same 30% app tax on app sales and transactions, a rate that's more than 1,000% higher than the transaction fees extracted by the (bloated, price-gouging) credit-card sector:

https://pluralistic.net/2023/06/07/curatorial-vig/#app-tax

But cartels' power goes beyond the size of their warchest. The real source of a cartel's power is the ease with which a small number of companies can arrive at – and stick to – a common lobbying position. That's where "regulatory capture" comes in: the mobile duopoly has an easier time of capturing its regulators because two companies have an easy time agreeing on how to spend their app-tax billions:

https://pluralistic.net/2022/06/05/regulatory-capture/

Apple – and Google, and Facebook, and your car company – can violate your privacy because they aren't constrained regulation, just as Uber can violate its drivers' labor rights and Amazon can violate your consumer rights. The tech cartels have captured their regulators and convinced them that the law doesn't apply if it's being broken via an app:

https://pluralistic.net/2023/04/18/cursed-are-the-sausagemakers/#how-the-parties-get-to-yes

In other words, Apple can spy on you because it's allowed to spy on you. America's last consumer privacy law was passed in 1988, and it bans video-store clerks from leaking your VHS rental history. Congress has taken no action on consumer privacy since the Reagan years:

https://www.eff.org/tags/video-privacy-protection-act

But tech has some special enshittification-resistant characteristics. The most important of these is interoperability: the fact that computers are universal digital machines that can run any program. HP can design a printer that rejects third-party ink and charge $10,000/gallon for its own colored water, but someone else can write a program that lets you jailbreak your printer so that it accepts any ink cartridge:

https://www.eff.org/deeplinks/2020/11/ink-stained-wretches-battle-soul-digital-freedom-taking-place-inside-your-printer

Tech companies that contemplated enshittifying their products always had to watch over their shoulders for a rival that might offer a disenshittification tool and use that as a wedge between the company and its customers. If you make your website's ads 20% more obnoxious in anticipation of a 2% increase in gross margins, you have to consider the possibility that 40% of your users will google "how do I block ads?" Because the revenue from a user who blocks ads doesn't stay at 100% of the current levels – it drops to zero, forever (no user ever googles "how do I stop blocking ads?").

The majority of web users are running an ad-blocker:

https://doc.searls.com/2023/11/11/how-is-the-worlds-biggest-boycott-doing/

Web operators made them an offer ("free website in exchange for unlimited surveillance and unfettered intrusions") and they made a counteroffer ("how about 'nah'?"):

https://www.eff.org/deeplinks/2019/07/adblocking-how-about-nah

Here's the thing: reverse-engineering an app – or any other IP-encumbered technology – is a legal minefield. Just decompiling an app exposes you to felony prosecution: a five year sentence and a $500k fine for violating Section 1201 of the DMCA. But it's not just the DMCA – modern products are surrounded with high-tech tripwires that allow companies to invoke IP law to prevent competitors from augmenting, recongifuring or adapting their products. When a business says it has "IP," it means that it has arranged its legal affairs to allow it to invoke the power of the state to control its customers, critics and competitors:

https://locusmag.com/2020/09/cory-doctorow-ip/

An "app" is just a web-page skinned in enough IP to make it a crime to add an ad-blocker to it. This is what Jay Freeman calls "felony contempt of business model" and it's everywhere. When companies don't have to worry about users deploying self-help measures to disenshittify their products, they are freed from the constraint that prevents them indulging the impulse to shift value from their customers to themselves.

Apple owes its existence to interoperability – its ability to clone Microsoft Office's file formats for Pages, Numbers and Keynote, which saved the company in the early 2000s – and ever since, it has devoted its existence to making sure no one ever does to Apple what Apple did to Microsoft:

https://www.eff.org/deeplinks/2019/06/adversarial-interoperability-reviving-elegant-weapon-more-civilized-age-slay

Regulatory capture cuts both ways: it's not just about powerful corporations being free to flout the law, it's also about their ability to enlist the law to punish competitors that might constrain their plans for exploiting their workers, customers, suppliers or other stakeholders.

The final historical constraint on tech companies was their own workers. Tech has very low union-density, but that's in part because individual tech workers enjoyed so much bargaining power due to their scarcity. This is why their bosses pampered them with whimsical campuses filled with gourmet cafeterias, fancy gyms and free massages: it allowed tech companies to convince tech workers to work like government mules by flattering them that they were partners on a mission to bring the world to its digital future:

https://pluralistic.net/2023/09/10/the-proletarianization-of-tech-workers/

For tech bosses, this gambit worked well, but failed badly. On the one hand, they were able to get otherwise powerful workers to consent to being "extremely hardcore" by invoking Fobazi Ettarh's spirit of "vocational awe":

https://www.inthelibrarywiththeleadpipe.org/2018/vocational-awe/

On the other hand, when you motivate your workers by appealing to their sense of mission, the downside is that they feel a sense of mission. That means that when you demand that a tech worker enshittifies something they missed their mother's funeral to deliver, they will experience a profound sense of moral injury and refuse, and that worker's bargaining power means that they can make it stick.

Or at least, it did. In this era of mass tech layoffs, when Google can fire 12,000 workers after a $80b stock buyback that would have paid their wages for the next 27 years, tech workers are learning that the answer to "I won't do this and you can't make me" is "don't let the door hit you in the ass on the way out" (AKA "sharpen your blades boys"):

https://techcrunch.com/2022/09/29/elon-musk-texts-discovery-twitter/

With competition, regulation, self-help and labor cleared away, tech firms – and firms that have wrapped their products around the pluripotently malleable core of digital tech, including automotive makers – are no longer constrained from enshittifying their products.

And that's why your car manufacturer has chosen to spy on you and sell your private information to data-brokers and anyone else who wants it. Not because you didn't pay for the product, so you're the product. It's because they can get away with it.

Cars are enshittified. The dozens of chips that auto makers have shoveled into their car design are only incidentally related to delivering a better product. The primary use for those chips is autoenshittification – access to legal strictures ("IP") that allows them to block modifications and repairs that would interfere with the unfettered abuse of their own customers:

https://pluralistic.net/2023/07/24/rent-to-pwn/#kitt-is-a-demon

The fact that it's a felony to reverse-engineer and modify a car's software opens the floodgates to all kinds of shitty scams. Remember when Bay Staters were voting on a ballot measure to impose right-to-repair obligations on automakers in Massachusetts? The only reason they needed to have the law intervene to make right-to-repair viable is that Big Car has figured out that if it encrypts its diagnostic messages, it can felonize third-party diagnosis of a car, because decrypting the messages violates the DMCA:

https://www.eff.org/deeplinks/2013/11/drm-cars-will-drive-consumers-crazy

Big Car figured out that VIN locking – DRM for engine components and subassemblies – can felonize the production and the installation of third-party spare parts:

https://pluralistic.net/2022/05/08/about-those-kill-switched-ukrainian-tractors/

The fact that you can't legally modify your car means that automakers can go back to their pre-2008 ways, when they transformed themselves into unregulated banks that incidentally manufactured the cars they sold subprime loans for. Subprime auto loans – over $1t worth! – absolutely relies on the fact that borrowers' cars can be remotely controlled by lenders. Miss a payment and your car's stereo turns itself on and blares threatening messages at top volume, which you can't turn off. Break the lease agreement that says you won't drive your car over the county line and it will immobilize itself. Try to change any of this software and you'll commit a felony under Section 1201 of the DMCA:

https://pluralistic.net/2021/04/02/innovation-unlocks-markets/#digital-arm-breakers

Tesla, naturally, has the most advanced anti-features. Long before BMW tried to rent you your seat-heater and Mercedes tried to sell you a monthly subscription to your accelerator pedal, Teslas were demon-haunted nightmare cars. Miss a Tesla payment and the car will immobilize itself and lock you out until the repo man arrives, then it will blare its horn and back itself out of its parking spot. If you "buy" the right to fully charge your car's battery or use the features it came with, you don't own them – they're repossessed when your car changes hands, meaning you get less money on the used market because your car's next owner has to buy these features all over again:

https://pluralistic.net/2023/07/28/edison-not-tesla/#demon-haunted-world

And all this DRM allows your car maker to install spyware that you're not allowed to remove. They really tipped their hand on this when the R2R ballot measure was steaming towards an 80% victory, with wall-to-wall scare ads that revealed that your car collects so much information about you that allowing third parties to access it could lead to your murder (no, really!):

https://pluralistic.net/2020/09/03/rip-david-graeber/#rolling-surveillance-platforms

That's why your car spies on you. Because it can. Because the company that made it lacks constraint, be it market-based, legal, technological or its own workforce's ethics.

One common critique of my enshittification hypothesis is that this is "kind of sensible and normal" because "there’s something off in the consumer mindset that we’ve come to believe that the internet should provide us with amazing products, which bring us joy and happiness and we spend hours of the day on, and should ask nothing back in return":

https://freakonomics.com/podcast/how-to-have-great-conversations/

What this criticism misses is that this isn't the companies bargaining to shift some value from us to them. Enshittification happens when a company can seize all that value, without having to bargain, exploiting law and technology and market power over buyers and sellers to unilaterally alter the way the products and services we rely on work.

A company that doesn't have to fear competitors, regulators, jailbreaking or workers' refusal to enshittify its products doesn't have to bargain, it can take. It's the first lesson they teach you in the Darth Vader MBA: "I am altering the deal. Pray I don't alter it any further":

https://pluralistic.net/2023/10/26/hit-with-a-brick/#graceful-failure

Your car spying on you isn't down to your belief that your carmaker "should provide you with amazing products, which brings your joy and happiness you spend hours of the day on, and should ask nothing back in return." It's not because you didn't pay for the product, so now you're the product. It's because they can get away with it.

The consequences of this spying go much further than mere insurance premium hikes, too. Car telemetry sits at the top of the funnel that the unbelievably sleazy data broker industry uses to collect and sell our data. These are the same companies that sell the fact that you visited an abortion clinic to marketers, bounty hunters, advertisers, or vengeful family members pretending to be one of those:

https://pluralistic.net/2022/05/07/safegraph-spies-and-lies/#theres-no-i-in-uterus

Decades of pro-monopoly policy led to widespread regulatory capture. Corporate cartels use the monopoly profits they extract from us to pay for regulatory inaction, allowing them to extract more profits.

But when it comes to privacy, that period of unchecked corporate power might be coming to an end. The lack of privacy regulation is at the root of so many problems that a pro-privacy movement has an unstoppable constituency working in its favor.

At EFF, we call this "privacy first." Whether you're worried about grifters targeting vulnerable people with conspiracy theories, or teens being targeted with media that harms their mental health, or Americans being spied on by foreign governments, or cops using commercial surveillance data to round up protesters, or your car selling your data to insurance companies, passing that long-overdue privacy legislation would turn off the taps for the data powering all these harms:

https://www.eff.org/wp/privacy-first-better-way-address-online-harms

Traditional economics fails because it thinks about markets without thinking about power. Monopolies lead to more than market power: they produce regulatory capture, power over workers, and state capture, which felonizes competition through IP law. The story that our problems stem from the fact that we just don't spend enough money, or buy the wrong products, only makes sense if you willfully ignore the power that corporations exert over our lives. It's nice to think that you can shop your way out of a monopoly, because that's a lot easier than voting your way out of a monopoly, but no matter how many times you vote with your wallet, the cartels that control the market will always win:

https://pluralistic.net/2024/03/05/the-map-is-not-the-territory/#apor-locksmith

Name your price for 18 of my DRM-free ebooks and support the Electronic Frontier Foundation with the Humble Cory Doctorow Bundle.

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2024/03/12/market-failure/#car-wars

Image: Cryteria (modified) https://commons.wikimedia.org/wiki/File:HAL9000.svg

CC BY 3.0 https://creativecommons.org/licenses/by/3.0/deed.en

[afloweroutofstone]

Would love to hear more about your personal take on Walz, if you feel like it.

He's the most progressive of the Boring White Guys who were on Harris' shortlist for VP. To be fair, he's not actually that progressive himself— his record in congress was quite moderate, and he's generally seen as being more moderate than the Democrats in the Minnesota state legislature. But this image as a Normie Democrat can actually pair quite well with his record of progressive accomplishments in office. The stuff he's signed into law while governor has been absolutely incredible, arguably enough to make him the best governor in the country right now (even if the hard work behind most of these reforms came from state legislators to his left).

This is the gubernatorial record that Walz can run on: protecting abortion rights, universal school meals, guaranteed paid leave, legalizing weed, a plan for 100% renewable energy, banning LGBTQ conversion therapy, free college for families earning less than $80,000, automatic voter registration, increasing spending for public schools, universal gun background checks, expanding public transit, strengthening workers' rights, improving infrastructure, new public housing, (underwhelming) police reform, banning non-compete agreements, a strong child tax credit, and more. To compare, Harris' other top choice was a guy who compared pro-Palestine protesters to the KKK, likes charter schools, and wants to cut his state's corporate tax rates. You can see why progressives are happy with Walz as the outcome.

Also Walz does seem to have an electable personality IMO, what little I've seen of him makes him look like a good messenger. VP picks don't really matter that much, but he seems like a good choice if they're looking for someone to wipe the floor with Vance in the debate.

[ivettel]

the thing about financial literacy is that it all feels so stupidly abstract and jargon-y and then u start getting into the weeds a little bit and everything only gets more daunting because suddenly there r multiple systems and statutes u need to keep track of in ur head and then u trudge forward a few more steps and it's like. Oh of course that makes sense. it's overly complicated and not at all accessible but it makes sense

advocacy TA said my partner and i had the best oral pleadings she'd seen today and tax prof was very complimentary in class and i had a moment where i was like Wow i am Understanding Concepts i was so lost about a month ago and anyway i feel like my ego has ballooned impossibly. it's been a good day

[robertreich]

The Truth About Trumponomics

Trump and Republicans want to wreck your bank account. Here are 5 things you need to know about Trumponomics.

1.Trump wants tax cuts for the rich, at your expense.

Trump’s tax cuts for the rich and big corporations added about $1.7 trillion to the national debt, with few benefits trickling down to the middle class — in fact, it raised taxes for more than 10 million American families.

Now Trump and Republicans want to make the tax cuts for the rich permanent, blowing up the debt even further. And then they’ll use that debt to justify this:

2. Trump would cut Social Security and Medicare — programs you’ve been paying into!

In every year of his presidency, Trump submitted a budget that tried to cut Social Security and Medicare. And he knows that’s the only way he can even begin to pay for extending his tax cuts for the rich.

3. Trump and his allies are pro-junk fee.

When the Biden administration issued a rule capping credit card late fees at $8, Sen. Tim Scott, a Trump surrogate, tried to overturn it in the Senate. And then a Trump-appointed judge issued a temporary injunction that blocked the rule from taking effect. Eliminating that rule would cost American families an estimated $10 billion a year.

And when the Biden administration required airlines to issue automatic refunds for canceled flights, Trump’s allies in Congress fought to block that too.

When Trump was in office, his administration fought against efforts to rein in airline junk fees.

Corporations nickel and diming us like this makes inflation worse. If Trump gets back in the White House, buckle up for more junk fees.

4. Trump would send health care costs soaring.

Republicans have committed to repealing the Inflation Reduction Act, which would strip Medicare of the ability to negotiate drug prices, and let Big Pharma send the price of insulin and other life-saving medicines back through the roof.

And Trump is still fixated on repealing Obamacare, with no plan to replace it.

TRUMP: Obamacare is a disaster. We’re gonna do something about it.

That would strip coverage from tens of millions of Americans, drive up premiums, and let insurers charge more or deny coverage to people with preexisting conditions.

5, If you’ve got student debt, you’re out of luck with Trump.

In contrast to President Biden, who’s canceled more than $160 billion of student debt so far, Trump is against student debt relief. In his first term, he tried to eliminate the popular Public Service Loan Forgiveness program for people like teachers and nurses, and he’s called the idea of debt relief “unfair.”

What’s unfair, is how student debt hurts not just the roughly 40 million Americans burdened by it, but the entire economy, since Americans with debt have less money to spend, are less likely to start a business, less likely to buy a home, and more likely to rely on government assistance.

The MAGA agenda would make nearly every aspect of your life more expensive, while making the richest Americans even richer.

Teddy Roosevelt’s economic plan was called the Square Deal. Franklin Roosevelt’s was the New Deal.

What Trump is offering is simply a Raw Deal.

[batboyblog]

Things Biden and the Democrats did, this week.

January 19-26 2024

The Energy Department announced its pausing all new liquefied natural gas export facilities. This puts a pause on export terminal in Louisiana which would have been the nation's largest to date. The Department will use the pause to study the climate impact of LNG exports. Environmentalists cheer this as a major win they have long pushed for.

The Transportation Department announced 5 billion dollars for new infrastructure projects. The big ticket item is 1 billion dollars to replace the 60 year old Blatnik Bridge between Superior, Wisconsin, and Duluth, Minnesota which has been dangerous failing since 2017. Other projects include $600 million to replace the 1-5 bridge between Vancouver, Washington, and Portland, Oregon, $427 million for the first offshore wind terminal on the West Coast, $372 million to replace the 90 year old Sagamore Bridge that connects Cape Cod to the mainland,$300 million for the Port of New Orleans, and $142 million��to fix the I-376 corridor in Pittsburgh.

the White House Task Force on Reproductive Healthcare Access announced new guidance that requires insurance companies must cover contraceptive medications under the Affordable Care Act. The Biden Administration also took actions to make sure contraceptive medications would be covered under Medicare, Medicaid, CHIP, and Federal Employee Health Benefits Program. HHS has launched a program to educate all patients about their rights to emergency abortion medical care under the Emergency Medical Treatment and Labor Act. This week marks 1 year since President Biden signed a Presidential Memorandum seeking to protect medication abortion and all federal agencies have reported on progress implementing it.

A deal between Democrats and Republicans to restore the expand the Child Tax Credit cleared its first step in Congress by being voted out of the House Ways and Means Committee. The Child Tax Credit would affect 16 million kids in the first year and lift 400,000 out of poverty. The Deal also includes an expansion of the Low-Income Housing Tax Credit which will lead to 200,000 new low income rental units being built, and also tax relief to people affected by natural disasters

The Senate Foreign Relations Committee voted for a bill to allow President Biden to seize $5 billion in Russian central bank assets. Biden froze the assets at the beginning of Russia's war against Ukraine, but under this new bill could distribute these funds to Ukraine, Republican Rand Paul was the only vote against.

The Senate passed the "Train More Nurses Act" seeking to address the critical national shortage of nurses. It aims to increase pathways for LPNs to become RNs as well as a review of all nursing programs nationally to see where improvements can be made

3 more Biden Judges were confirmed, bring the total number of Judges appointed by President Biden to 171. For the first time in history the majority of federal judge nominees have not been white men. Biden has also appointed Public Defenders and civil rights attorneys breaking the model of corporate lawyers usually appointed to life time federal judgeships

[simply-ivanka]

How the Biden-Harris Economy Left Most Americans Behind

A government spending boom fueled inflation that has crushed real average incomes.

By The Editorial Board -- Wall Street Journal

Kamala Harris plans to roll out her economic priorities in a speech on Friday, though leaks to the press say not to expect much different than the last four years. That’s bad news because the Biden-Harris economic record has left most Americans worse off than they were four years ago. The evidence is indisputable.

President Biden claims that he inherited the worst economy since the Great Depression, but this isn’t close to true. The economy in January 2021 was fast recovering from the pandemic as vaccines rolled out and state lockdowns eased. GDP grew 34.8% in the third quarter of 2020, 4.2% in the fourth, and 5.2% in the first quarter of 2021. By the end of that first quarter, real GDP had returned to its pre-pandemic high. All Mr. Biden had to do was let the recovery unfold.

Instead, Democrats in March 2021 used Covid relief as a pretext to pass $1.9 trillion in new spending. This was more than double Barack Obama’s 2009 spending bonanza. State and local governments were the biggest beneficiaries, receiving $350 billion in direct aid, $122 billion for K-12 schools and $30 billion for mass transit. Insolvent union pension funds received a $86 billion rescue.

The rest was mostly transfer payments to individuals, including a five-month extension of enhanced unemployment benefits, a $3,600 fully refundable child tax credit, $1,400 stimulus payments per person, sweetened Affordable Care Act subsidies, an increased earned income tax credit including for folks who didn’t work, housing subsidies and so much more.

The handouts discouraged the unemployed from returning to work and fueled consumer spending, which was already primed to surge owing to pent-up savings from the Covid lockdowns and spending under Donald Trump. By mid-2021, Americans had $2.3 trillion in “excess savings” relative to pre-pandemic levels—equivalent to roughly 12.5% of disposable income.

So much money chasing too few goods fueled inflation, which was supercharged by the Federal Reserve’s accommodative policy. Historically low mortgage rates drove up housing prices. The White House blamed “corporate greed” for inflation that peaked at 9.1% in June 2022, even as the spending party in Washington continued.

In November 2021, Congress passed a $1 trillion bill full of green pork and more money for states. Then came the $280 billion Chips Act and Mr. Biden’s Green New Deal—aka the Inflation Reduction Act—which Goldman Sachs estimates will cost $1.2 trillion over a decade. Such heaps of government spending have distorted private investment.

While investment in new factories has grown, spending on research and development and new equipment has slowed. Overall private fixed investment has grown at roughly half the rate under Mr. Biden as it did under Mr. Trump. Manufacturing output remains lower than before the pandemic.

Magnifying market misallocations, the Administration conditioned subsidies on businesses advancing its priorities such as paying union-level wages and providing child care to workers. It also boosted food stamps, expanded eligibility for ObamaCare subsidies and waved away hundreds of billions of dollars in student debt. The result: $5.8 trillion in deficits during Mr. Biden’s first three years—about twice as much as during Donald Trump’s—and the highest inflation in four decades.

Prices have increased by nearly 20% since January 2021, compared to 7.8% during the Trump Presidency. Inflation-adjusted average weekly earnings are down 3.9% since Mr. Biden entered office, compared to an increase of 2.6% during Mr. Trump’s first three years. (Real wages increased much more in 2020, but partly owing to statistical artifacts.)

Higher interest rates are finally bringing inflation under control, which is allowing real wages to rise again. But the Federal Reserve had to raise rates higher than it otherwise would have to offset the monetary and fiscal gusher. The higher rates have pushed up mortgage costs for new home buyers.

Three years of inflation and higher interest rates are stretching American pocketbooks, especially for lower income workers. Seriously delinquent auto loans and credit cards are higher than any time since the immediate aftermath of the 2008-09 recession.

Ms. Harris boasts that the economy has added nearly 16 million jobs during the Biden Presidency—compared to about 6.4 million during Mr. Trump’s first three years. But most of these “new” jobs are backfilling losses from the pandemic lockdowns. The U.S. has fewer jobs than it was on track to add before the pandemic.

What’s more, all the Biden-Harris spending has yielded little economic bang for the taxpayer buck. Washington has borrowed more than $400,000 for every additional job added under Mr. Biden compared to Mr. Trump’s first three years. Most new jobs are concentrated in government, healthcare and social assistance—60% of new jobs in the last year.

Administrative agencies are also creating uncertainty by blitzing businesses with costly regulations—for instance, expanding overtime pay, restricting independent contractors, setting stricter emissions limits on power plants and factories, micro-managing broadband buildout and requiring CO2 emissions calculations in environmental reviews.

The economy is still expanding, but business investment has slowed. And although the affluent are doing relatively well because of buoyant asset prices, surveys show that most Americans feel financially insecure. Thus another political paradox of the Biden-Harris years: Socioeconomic disparities have increased.

Ms. Harris is promising the same economic policies with a shinier countenance. Don’t expect better results.

[probablyasocialecologist]

Why, after every electoral loss, is the left always the scapegoat? It’s easier to blame activists for pushing a progressive agenda than confront the real issue: the Democratic Party has long been shaped by far more powerful forces—corporate interests, lobbyists, and consultants—whose influence has neglected the real crises facing everyday Americans. We see this cycle again and again. Contrary to establishment narratives, the Democratic leadership has often resisted advocacy organizations pushing for bold reforms on immigration, Big Tech, climate, debt, healthcare, rent, mass incarceration, Palestinian rights, and for policies like the Build Back Better agenda. This tension isn’t just about differing priorities—it reveals the actual balance of forces in the party. Corporate donors on Wall Street and Silicon Valley pour billions into campaigns, shaping agendas to suit their interests. A consultant class reaps millions from flawed strategies and failed candidates yet continues to fail upward, perpetuating a pattern of mediocrity. They, not progressives, are the roadblock preventing Democrats from becoming a populist force that could disrupt the status quo and win back voters of all stripes. It was these elements within the party that kneecapped the Democrats’ most ambitious efforts to help ordinary Americans. The Biden administration entered with huge plans, notably Build Back Better, which would have delivered immediate relief: expanded child tax credits, free community college, universal child care and pre-K, paid leave, and more. Progressives pushed mightily for Build Back Better to pass. It was centrist obstruction—namely Senators Manchin and Sinema—that blocked those policies. The result was a patchwork of long-term measures like the Inflation Reduction Act and the Bipartisan Infrastructure Deal, whose benefits won’t be felt until 2025 at the earliest, if at all. By failing to pass Build Back Better, Democrats lost the chance to deliver easy-to-understand, tangible economic benefits and solidify their image as the party of working people. And it was corporate Democrats—particularly lobbyists like Harris’s brother-in-law, former Uber executive Tony West, and David Plouffe—who held the most sway over Harris’s campaign. They advised her to cozy up to ultra-wealthy celebrities, Liz and Dick Cheney, and Mark Cuban, and avoid populist rhetoric that could have distanced her from the corporate elites who dominate the party. In 2024, the biggest spenders in Democratic Party politics weren’t progressives—it was AIPAC, cryptocurrency PACs, and corporate giants like Uber, all of whom poured millions into Democratic campaigns without regard for public opinion or the will of the people.

18 November 2024