There have been all sorts of theories about why the Harris/Walz team lost the election. I’m not going to pile on. But I think part of it is racism and misogyny - whether or not voters will admit it. There’s also what I call the “alternative universe” created by Fox News and other right wing media. While we were listening to the news about high-ranking military leaders saying that Tramp (sic) is dangerous, they were listening to propaganda about migrants invading the country. They blame Biden for inflation and aren’t even aware of the administration’s accomplishments. “The price of gas was lower under Trump!” they say, ignorant of how gas prices work. I find it really interesting that in a poll in October, people preferred policies advocated by Harris over those advocated by Trump, IF the names of the candidates supporting these policies were not provided! That’s probably why many state initiatives to protect abortion rights, for example, succeeded even as voters went for Trump.
Like you, I have to believe that the pendulum will swing back… assuming our new leader doesn’t cause a nuclear war.
You're spot on about the alternate universe of Fox News. They bought into that faux news hook, line and sinker. The truth will prevail, but as our vice president said, some fights take longer than others. It's going to be shit show and we will all have front row seats.
Also, the fact that they don't bother to know how things work, like the price of gas, or tariffs shows such privilege and comfort that their way of life will not be affected.
Thanks, Bill. Like you, I've been struggling to make sense of this and put my thoughts into words and actions. Fortunately or unfortunately, I have several distractions keeping me from getting back on track. Maybe tomorrow.
I'm not a bug fan of Bernie. I respect him, and think he's an important voice, but he's too full of himself, IMHO. Also, his constant refrain about "billionaires" has gotten old like Rudy's "9-11." I don't agree with wealth distribution or a 90% tax rate, but I absolutely agree that the wealthy shouldn't be able to shield income. Why doesn't Alternative Minimum Tax work? I know it hit me a few times when I had significant deductions.
I'm working on a couple of essays that I hope to have the wherewithal to finish. One is about what we're going to miss by not electing Harris/Walz, and one is about what I expect for the next 4 years. I want to challenge trump voters to predict what things will look like in 4 years. If they do, I suspect they'll be shocked in 4 years at how far off they were.
I always look forward to your substack letters. They are thoughtful and well expressed.
I don't know what the correct tax policies should be. I do know that during Ike's administration, the marginal tax rate was over 90%. People were pretty happy.
But what ought to be happening is that we should have a bipartisan panel that evaluates our income and estate tax structures and makes a recommendation that would include at least the following:
1. A simpler system with less loopholes and no escape hatches for the rich.
2. Tax credits for families to assist with child care and elder care.
3. Incentives for Americans to save.
And you probably don't agree, but I would hope for a one time clawback from the ultra wealthy with the specific purpose of paying down some of the Federal Debt. This would strengthen the dollar, improve the US credit rating, save us paying as much in interest - free money for discretionary spending - like clean water, improved electric grid, better internet...lot's of good stuff that begs to be done.
After all, it was the Republican administrations that did the most to explode our debt. Let them pay the people back what they are owed. I know I sound radical. But forgive me if I join the millions in America who are anxious to "eat the rich".
As for Bernie. He is at the end of his trail. I think he could have beaten Trump in 2016. In my region, there were Bernie Bros who voted for the Orange Thing - angry at the status quo.
But I also get how he alienates many. If you skip over his sparkling personality and grasp what he wants for working Americans, he makes a lot of sense. Like Medicare for All and much more.
No tax program works if one can ignore it with impunity and those in the $Billion+ bracket can do so simply by paying their lawyers and accountants to delay accountability. The folks, like you, who get hit with the AMT are those whose tax bill is fractionally lower than the cost to fight about it and who don't have the money to buy political immunity.
Hi Bill, I agree. "Democrats and fair minded Independents need to shake the money tree and propose some serious redistributions of wealth. The Maga gang demonized the “others”. That’s pretty extreme and cruel. The Maga maniacs are not afraid to propose all manner of crazy ass ideas - crazy - but THEY WON." Kamala did say in one of her campaign speeches that she would propose a 4% tax on wealth. What did the media say? Kamala wants even less of a wealth tax than Joe Biden. What does trump propose NO tax on the wealthy because.....
With little to no mainstream media truly reporting facts we didn't stand a chance. It wasn't that Kamala wasn't trying, it's that only the choir was listening.
Some Democratic politicians are afraid to shake the money tree because they feed at the same trough, this is particularly true of the DNC, DCCC, DSCC, and the hundeds of Dxxx's that pop up begging for money and do little or nothing to recruit and train new young politicians.
The maggots on the other hand know exactly which buttons to push to take their cult's mind off the REAL cause of their pain - the redistribution of the wealth of this country from the bottom 70% to the top 10% by the myth of "trickle down" economics which in fact was misnamed, it really was "gush up"
Watch Heather Cox Richardson "Politics Chat" from last night.
https://fb.watch/vQkb2a6Tke/
There have been all sorts of theories about why the Harris/Walz team lost the election. I’m not going to pile on. But I think part of it is racism and misogyny - whether or not voters will admit it. There’s also what I call the “alternative universe” created by Fox News and other right wing media. While we were listening to the news about high-ranking military leaders saying that Tramp (sic) is dangerous, they were listening to propaganda about migrants invading the country. They blame Biden for inflation and aren’t even aware of the administration’s accomplishments. “The price of gas was lower under Trump!” they say, ignorant of how gas prices work. I find it really interesting that in a poll in October, people preferred policies advocated by Harris over those advocated by Trump, IF the names of the candidates supporting these policies were not provided! That’s probably why many state initiatives to protect abortion rights, for example, succeeded even as voters went for Trump.
Like you, I have to believe that the pendulum will swing back… assuming our new leader doesn’t cause a nuclear war.
You're spot on about the alternate universe of Fox News. They bought into that faux news hook, line and sinker. The truth will prevail, but as our vice president said, some fights take longer than others. It's going to be shit show and we will all have front row seats.
Also, the fact that they don't bother to know how things work, like the price of gas, or tariffs shows such privilege and comfort that their way of life will not be affected.
Thanks, Bill. Like you, I've been struggling to make sense of this and put my thoughts into words and actions. Fortunately or unfortunately, I have several distractions keeping me from getting back on track. Maybe tomorrow.
I'm not a bug fan of Bernie. I respect him, and think he's an important voice, but he's too full of himself, IMHO. Also, his constant refrain about "billionaires" has gotten old like Rudy's "9-11." I don't agree with wealth distribution or a 90% tax rate, but I absolutely agree that the wealthy shouldn't be able to shield income. Why doesn't Alternative Minimum Tax work? I know it hit me a few times when I had significant deductions.
I'm working on a couple of essays that I hope to have the wherewithal to finish. One is about what we're going to miss by not electing Harris/Walz, and one is about what I expect for the next 4 years. I want to challenge trump voters to predict what things will look like in 4 years. If they do, I suspect they'll be shocked in 4 years at how far off they were.
Hey Bob,
I always look forward to your substack letters. They are thoughtful and well expressed.
I don't know what the correct tax policies should be. I do know that during Ike's administration, the marginal tax rate was over 90%. People were pretty happy.
But what ought to be happening is that we should have a bipartisan panel that evaluates our income and estate tax structures and makes a recommendation that would include at least the following:
1. A simpler system with less loopholes and no escape hatches for the rich.
2. Tax credits for families to assist with child care and elder care.
3. Incentives for Americans to save.
And you probably don't agree, but I would hope for a one time clawback from the ultra wealthy with the specific purpose of paying down some of the Federal Debt. This would strengthen the dollar, improve the US credit rating, save us paying as much in interest - free money for discretionary spending - like clean water, improved electric grid, better internet...lot's of good stuff that begs to be done.
After all, it was the Republican administrations that did the most to explode our debt. Let them pay the people back what they are owed. I know I sound radical. But forgive me if I join the millions in America who are anxious to "eat the rich".
As for Bernie. He is at the end of his trail. I think he could have beaten Trump in 2016. In my region, there were Bernie Bros who voted for the Orange Thing - angry at the status quo.
But I also get how he alienates many. If you skip over his sparkling personality and grasp what he wants for working Americans, he makes a lot of sense. Like Medicare for All and much more.
Agreed about Bernie on all counts.
No tax program works if one can ignore it with impunity and those in the $Billion+ bracket can do so simply by paying their lawyers and accountants to delay accountability. The folks, like you, who get hit with the AMT are those whose tax bill is fractionally lower than the cost to fight about it and who don't have the money to buy political immunity.
Well said Bill. On the TV a few minutes ago they mentioned a meeting of Trump and Joe Biden.
Best,
Rob
With you all the way, Bill. Great post!
Hi Bill, I agree. "Democrats and fair minded Independents need to shake the money tree and propose some serious redistributions of wealth. The Maga gang demonized the “others”. That’s pretty extreme and cruel. The Maga maniacs are not afraid to propose all manner of crazy ass ideas - crazy - but THEY WON." Kamala did say in one of her campaign speeches that she would propose a 4% tax on wealth. What did the media say? Kamala wants even less of a wealth tax than Joe Biden. What does trump propose NO tax on the wealthy because.....
With little to no mainstream media truly reporting facts we didn't stand a chance. It wasn't that Kamala wasn't trying, it's that only the choir was listening.
Some Democratic politicians are afraid to shake the money tree because they feed at the same trough, this is particularly true of the DNC, DCCC, DSCC, and the hundeds of Dxxx's that pop up begging for money and do little or nothing to recruit and train new young politicians.
The maggots on the other hand know exactly which buttons to push to take their cult's mind off the REAL cause of their pain - the redistribution of the wealth of this country from the bottom 70% to the top 10% by the myth of "trickle down" economics which in fact was misnamed, it really was "gush up"
Thanks Bill.
Awesome. Wow.