April 13: Forgetting Fair Play

Apr 13, 2012Tim Price

daily-digest-150 What you need to know to navigate today’s most critical debates.

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Economic Fairness Isn’t Enough for Obama’s Game Plan (Daily Beast)

Michael Tomasky argues that if the president wants to win over swing voters instead of preaching to the choir, he needs to point out that if only rich people have money, we’ll be left with an oversized swap meet in place of an economy.

Cannibalize the Future (NYT)

Paul Krugman writes that when Republicans like Chris Christie claim they’re cutting spending to save our children from debt, you should swap out “our children” for “their political careers” and “debt” for “Republican voters.”

Why Mitt Romney’s ‘Economic War on Women’ Charge Could Backfire (The Atlantic)

Jordan Weissman writes that Mitt Romney’s attempt to close the gender gap by arguing that Obama’s policies have been a job-killer for women could backfire if people look at the data and see the GOP brandishing the murder weapon.

Some Observations on the Second Lien Problem (Naked Capitalism)

Roosevelt Institute Fellow Matt Stoller notes that second mortgages are continuing to do suspiciously well for banks, especially since in the current market they’re the equivalent of finding out your house is built on quicksand and then adding a garage.

Parsing a Fed Official’s Speech (NYT)

Binyamin Appelbaum thinks Janet Yellen’s speech this week was an indication that the Fed won’t jump at every sign of economic strength as a reason to withdraw its support, because they don’t get credit for getting halfway to the finish line.

Ryan Budget Would Raise Some Taxes; Guess Who Gets Hit? (CBPP)

Chuck Marr points out that even arch-conservative budget wonk Paul Ryan couldn’t get his numbers to add up without raising some tax rates. But he spared the hard-working rich and decided to focus on a different target: the idle 30-thousandaires.

Obama’s new Wall Street foes (Salon)

Bill Moyers and Michael Winship write that the reason Wall Street feels betrayed by Obama is that he’s dared to suggest they owe allegiance (and taxes) to America rather than their own society, where poor people carry the title of Junior V.P.

Taxing Wall Street Speculation (TAP)

Wallace Turbeville argues that taxing financial speculation would not only be better than the Buffett Rule for raising revenue from the 1%, but would help discourage short-term traders who see the global economy as one giant Roulette wheel.

Why Do So Many Elites Hate Social Security? (CAF)

Dave Johnson writes that there’s a simple explanation for the long line of ill-informed and misleading conservative screeds about Social Security: when anti-government ideologues see a government program that works for everyone, haters gonna hate.

JPMorgan Chase: The Great White Whale Of The Global Economy (HuffPo)

Mark Gongloff writes that while JPMorgan might not have needed a bailout during the last crisis, it’s likely to play a big role in the next one if it continues to look at the concept of too big to fail and say “Meh, I think we could go a little bigger.”

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