World-News

Pat Garofalo, ThinkProgress: 'Several of the 2012 GOP presidential hopefuls have laid out economic platforms that would include huge cuts in the corporate tax rate. Former Massachusetts Gov. Mitt Romney (R) called for lowering the corporate tax rate from 35 percent to 25 percent, while former Minnesota Gov. Tim Pawlenty (R) went a step further, calling for a cut to 15 percent. In an interview published today by the Wall Street Journal, Rep. Michele Bachmann (R-MN) decided to one-up both Romney and Pawlenty, calling for a reduction in the corporate tax rate to 9 percent. Adding insult to injury, Bachmann wants to pair that huge tax cut with giant tax reductions for the rich, as well as a tax increase on the working poor.'

http://www.truth-out.org/bachmann-calls-huge-corporate-tax-cut-alongside-tax-increase-working-poor/1308073584



JP Morgan Records Largest Profit Ever, While Community Devastated by Its Predatory Lending Sheds 1,000 Workers

Zaid Jilani, ThinkProgress: 'One of the many tragic stories of the Great Recession involves Jefferson County, Alabama. As Matt Taibbi explained in an article in Rolling Stone last year, mega bank JP Morgan Chase used a predatory refinancing deal on sewer bonds to reap billions while the local area was financially devastated. Now, Jefferson County, still reeling from the effects of JP Morgan s dirty deals, is moving to place nearly 1,000 public workers on administrative leave without pay, as the state Legislature failed last week to come to the municipality s aid with any fiscal support. In doing so, the county hopes to save 'just over $12 million.' Yet while the public workers of Jefferson County will soon face the prospect of losing their wages and livelihoods through no fault of their own, JP Morgan Chase continues to rake in lavish profits.'

http://www.truth-out.org/jp-morgan-records-largest-profit-ever-while-community-devastated-its-predatory-lending-sheds-1000-wo



Down in the Ditch

William Rivers Pitt, Truthout: 'There is never a shortage of Stupid in American politics, but by normal standards, our recent history has been pretty spectacular. Rep. Anthony Weiner is caught in what could very easily go down in history as the single most absurd sex scandal to ever unfold. The Republican leadership continues to play chicken with the debt limit, making even the titans of the financial industry nervous. Michele Bachmann is being taken seriously by the 'mainstream' news media after the first GOP debate ... and as far as Stupid goes, really, that s all you need to say. Sometimes, however, the Stupid skyrockets to new and heretofore unknown heights. It takes a special kind of purebred dunderhead to raise the benchmark, and in that spirit, I give you Rep. Dana Rohrabacher (R-CA), who opined last week that once Iraq becomes a rich and prosperous country, they should repay the United States for the money spent on the invasion and occupation. Let that sink in for a moment.'

http://www.truth-out.org/down-ditch/1308150023

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The money hole

Freedom Politics
by John Stossel

06/15/11

America is falling deeper into debt. We are long past the point where drastic action is needed. We are near Greek levels of debt. What s going to happen? Maybe riots - like we have seen in Greece? We need to make cuts now. Some governors have shown the way...

http://tinyurl.com/3vg7pzq


Informant: Thomas L. Knapp



http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Greece
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=GOP
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Republican
http://freepage.twoday.net/search?q=Mitt+Romney
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Pawlenty
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Michele+Bachmann
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Anthony+Weiner
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Dana+Rohrabacher
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Iraq
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=occup
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=debt
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=recession
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=financial+industry
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=JP+Morgan
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=tax+cut
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=wealthy
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=working+poor
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=workers
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=riots
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=predatory+lending
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=mainstream+media
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Matt+Taibbi
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Pat+Garofalo
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Zaid+Jilani
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=William+Rivers+Pitt
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=John+Stossel
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