Tag Archives: Bernie Sanders

Political Rants

Sharing the wealth.

I should start this post with the standard disclaimer that I am not an economist. Inasmuch as this is a nominally free country, at present, I am going to opine on one of the central issues in the Democratic primary debate – the idea of instituting a wealth tax. Advocated in some form by both Bernie Sanders and Elizabeth Warren, taxing wealth is not a new idea by any means. Chris Hayes’s recent conversation with Gabriel Zucman gives a really good overview of the question, so if you want to hear someone knowledgeable discuss the merits of instituting a wealth tax in the United States, by all means give that a listen. For now, here’s my once-over-lightly. right in time for the holiday season.

First, while this idea is remarkably popular, there is a lot of howling on the part of articulate opinion over it. If I were to guess, I would say that the reason may be simply that virtually everyone you see on television has some magnitude of wealth in the form of stocks, property, etc. in excess of what Warren or Sanders would deem taxable in their proposals. The reasons they typically give, though, are the standard capitalist tropes about stifling innovation, misdirecting funds to inefficient government programs, etc., etc. There is honestly no credible evidence to substantiate this claim, but even if some version of it were true, the revenue generated by such a tax would be more than worth the cost of inspiring some caution on the part of the billionaire class. Also, I think it’s important to fully understand what being a billionaire means. Having billions of dollars is not merely being wealthy; billions are about power, and I don’t mean purchasing power. I think there’s a strong argument to be made for putting a cap on wealth simply to constrain unaccountable power and influence on the part of billionaires, but that’s another conversation.

Bernie: just tell them they'll pay less property taxes. Piece of cake.

Zucman, a recognized authority on income and wealth inequality, points out that in America we already have a form of wealth tax, and it’s one that most potential readers of this blog (or any other blog, for that matter) are directly affected by: property taxes. For decades, home ownership has represented far and away the principal form of wealth held by ordinary (i.e. non-rich) people in the United States. I suspect it’s no accident that homes are taxed in a remarkably regressive way – specifically, not indexed to income in any way. Also, as Zucman points out, the property taxes we pay (either directly or indirectly as renters) are at the same level regardless of whether the owner holds a mortgage or not. So you may have less than 40% equity in your home, shell out half of your income on your mortgage, but still pay taxes on the full assessed value of that property. (I don’t know about other states, but here in New York, you can roll your taxes into your mortgage payment for added convenience. How thoughtful!)

A true wealth tax, on the other hand, would consider all forms of wealth, not just this narrow category that disproportionately impacts workers. It would be progressive – the less you own or earn, the less you pay – and a hell of a lot more fair than our current property tax system. So don’t buy the hype, people. As with our health care system, we are already doing it … we’re just doing it wrong.

luv u,

jp

Political Rants

Heavy lift.

I want to open this week with a message to my fellow leftists. I know, some of you right now are probably saying, “Okay, boomer … “, but hear me out. For the more deeply committed among you, the upcoming presidential race is probably not the most important item on the agenda, but for those who plan on participating in the Democratic party primaries and caucuses, I have one modest caution: Don’t rip a new asshole into every candidate other than Bernie (whom I personally support). Many of us who are participating in electoral politics want Bernie to win, but that goal is in the hands of the voters. If we out-organize and out-vote all of the other candidates, we can win … but losing is a possibility, and given that eventuality we would still need to beat Trump in November … regardless of who wins the Democratic party nomination for president.

It's going to take all of us

The fact is, achieving top policy priorities like Medicare for All and the Green New Deal will be tremendously difficult no matter who the next Democratic president turns out to be. Obviously, Bernie Sanders is the best choice, in that we can be confident that we won’t have to convince the president to push for them. This is true of Warren to a lesser extent. But even with a reliable progressive / socialist like Bernie in the White House, M4A and the GND will demand massive organizing and activism outside of government, as well as more progressives in both the Senate and the House. All of that amounts to a heavy lift, and the difference a progressive president would make would be significant but not sufficient in and of itself.

In other words, there is no universe in which we can elect Bernie on a Tuesday in November and have him deliver M4A, for instance, sometime over the following year, all by himself. We need to build momentum for this and other progressive policies now and throughout next year, and when we defeat Trump with whatever candidate gets the most primary votes, we will need to push even harder and keep our eye on the ball. The presidential component of this project, while important, is relatively minor; no Democratic president can pass such sweeping legislation without a movement behind him or her. We will be opposed in all progressive proposals by the richest, most powerful institutions in the world, so it’s going to be a fight no matter who wins.

If we work extremely hard, we will get the nominee – Sanders – that we want and need. And then the real work begins.

luv u,

jp

Political Rants

Ten in Georgia.

It would be hard to overstate the sheer joy being felt by our corporate media over the last couple of weeks. It reminds me of those times when there’s three major stories and a hurricane. They are never so happy as when the news machine is firing on all cylinders, and that is certainly what’s happening now – impeachment hearings, international upheaval, Democratic debates. Lots and lots of content, and very little effort needed to push it out.

So here I am, sitting in front of the television on debate night, watching the long wind-up led by erstwhile nightly news anchor Brian Williams, basking in the lights, moderating a conversation between failed Senate re-elect candidate Claire McCaskill, former Howard Schultz vendor Steve Schmidt, perennial talk show host Joy Ann Reid, and Chris Hayes, smartest man on TV.

The ten candidates include a billionaire who basically bought his way onto this stage. Cautionary comments from Schmidt and McCaskill counseling centrism. Hoo boy.

First question from Rachel Maddow to Warren, about impeachment. She gives a strong, sharp answer. Klobuchar nervously harkens back to Walter Mondale. Bernie starts with focus on poor and working people – thank you, senator. Birthday Joe stumbles into his first response … hoo boy.

Still too big by half.

Cory Booker’s criticism of Warren’s wealth tax is as vacuous as Buttigieg’s criticism of Medicare for All. Biden thinks 160 million people are happy with their health insurance.  I suspect he’s including me in that count, and if so, he fucking bonkers.

Gabbard vs. Harris is, frankly, irritating. They are both deeply problematic people.

The billionaire speaks! He’s pushing power down to the American people. The other rich guy compliments him. Tom Steyer wants to build millions of new housing units. Sounds good, but … how? Amy Klobuchar, who happily votes for $750B military budgets, thinks we can’t afford more than 3 months of paid parental leave. Priorities, right?

Climate change question! But it’s put to Tulsi. Let’s start that one with someone who, I don’t know, might be president. Tom Steyer gets the second whack at it. Really? Pissing match between him and fellow white guy Biden. Bernie leaps in, like Lester (ask your jazz fan mother).

Harris defends confrontation with North Korea. Joe doubles down on that, and gets the stand off between Russia and NATO backwards. I’m no fan of Putin, but NATO expansion is a legitimate concern for any Russian government, given their history of being invaded from the west.

Kudos to Booker for raising the war in Yemen. Double kudos to Bernie for his comments on Israel-Palestine and Saudi. He’s way out ahead on that. Commercials. Someone has to pay for that expensive stage set, including, apparently, a California based anti-immigration group.

Joe responds to a question about #metoo and resorts to an unfortunate metaphor for his fight against partner violence. “Keep punching at it” is a poor choice of words.

Finally an immigration question! That’s what happens when Castro and Beto aren’t invited.

Halfway decent (and congenial) conversation on abortion rights, though I wish to hell they would raise the judiciary in this context.

That’s about it. Cue commercial.

luv u,

jp