Cut the Military Budget--II
When I asked him years ago what he thought about military spending as stimulus, Alan Greenspan, to his credit, noted that from an economic standpoint military spending was like insurance: if necessary to meet its primary need, it had to be done, but it was not good for the economy; and to the extent that it could be reduced, the economy would benefit. Full Story »
Posted by Dwight Rousu
Congress passed and Obama signed a bill to extend health coverage to more children (SCHIP) and funded it by placing a two thousand percent tax on rolling tobacco, the tobacco that homeless people and those too poor to be able to afford tailor-made cigarettes use to roll their own. The tax goes into effect on April 1st and will force many independent suppliers of rolling tobacco out of business. Yet this Congress and President who didn't hesitate to impose the most regressive tax in U.S. history on the poorest of the poor, will not even talk about increasing luxury taxes or taxes on the wealthy by so much as a fraction of a percent, and the thought of reducing the budget for continuing the Bush/Cheney wars of aggression based on lies (no, there were no WMDs), is also off the table. In my opinion, Barney Frank is absolutely correct in everything he wrote here.