HomeUncategorized10/2 News Roundup & Open Thread
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To sum up:

Full cancellation creates at least a million more jobs than Warren’s partial cancellation
Full cancellation does more to reduce the racial wealth gap than Warren’s plan does
Full cancellation will almost certainly do much more to benefit millennials, the generation that’s been hardest hit by student debt and is the largest percentage of the workforce
Full cancellation will almost certainly do much more to help black workers, who are experiencing twice the unemployment of white workers

There are other benefits to full cancellation, too. It’s easier to explain to voters. Its million-job advantage makes it easier to build support among people who have never gone to college or acquired student debt, groups that might otherwise resent student debt cancellation. It would stimulate more economic growth, with greater advantages for the entire economy (including investors). And it wouldn’t be subject to gaming, the way Warren’s plan would be. (Children would claim to live elsewhere, people would move taxable income from year to year, couples would defer marriage, etc.)

Elizabeth Warren has many impressive policy proposals, and is very possibly unaware of the differing impact of her means-tested student debt plan on working people. There is every reason to hope she will reconsider after reviewing the advantages of a broader proposal, and join with Sen. Sanders in supporting full student debt cancellation.


His prime target has been Warren


Pete Buttigeig’s presidential campaign has spent the past few weeks subtly or overtly attacking every major fellow Democratic candidate in the presidential race. Save one.

The South Bend mayor has left Joe Biden off his target list, content to see the former vice president fall on his own, after which—the thinking goes—his supporters will flock to a similarly mild-mannered moderate candidate; namely, Mayor Pete.

The strategy is a high-risk one for Buttigeig, even as he continues to stockpile resources that prepare him well for the final stages of the pre-voting phase of the primary; his campaign announced on Tuesday that it had raised $19.1 million in the third quarter. Indeed, the South Bend Democrat’s attacks on his fellow rivals have begun to anger fellow party members, who view it all as a massive showcase of presumption from a 37-year-old mayor.


If he desires to be VP or a cabinet post, it’s best not to make too many enemies.



Will Joe Biden’s bid for the Democratic nomination survive the impeachment of President Trump?

It sounds like a strange question. Biden and his son Hunter would seem to be the blameless victims of the president’s effort to strong-arm the president of Ukraine into digging up dirt on them. If the effort hadn’t been revealed to the public by the whistleblower — and if the Eastern European fishing expedition had turned up anything remotely resembling impropriety that the Trump campaign could have weaponized against the former vice president — then Biden might have been fatally damaged, either in the primaries or in a general-election campaign. But the effort was revealed, and now it poses a far greater threat to the Trump administration. Doesn’t that mean Biden is off the hook?

No, I’m afraid it doesn’t — as I fear we’re all going to find out very soon.

Those numbers are good. But we have reason to think they won’t last once the House of Representatives begins to hold hearings that will unavoidably touch on exactly what Trump wanted Ukraine to investigate. Most informed observers see no indication of anything illegal or even overtly unethical on Biden’s part in his dealings with Ukraine. Trump is indulging, as he so often does, in conspiracy theories that implicate his political opponents in an indistinct fog of wrongdoing without any hard evidence.

But it won’t matter. Back in 2014, Biden’s son received a job at a Ukrainian energy conglomerate to the tune of $50,000 a month for no other apparent reason than that his father was vice president of the United States. No one disputes this, and it is enough to implicate Biden and his family in the soft corruption of self-dealing political elites in Washington. That the story of Ukraine over the past decade has involved darker forms of corruption indulged in by a large and complicated cast of characters unknown to 99.9 percent of Americans will make it all too easy for the president and his surrogates to insinuate that Biden is implicated in those shading dealings.

Trump doesn’t need to accuse Biden of a crime or even prove he did anything as blatantly corrupt as what the president’s company and family does every day of his presidency. He just needs to use the impeachment hearings to damage Biden’s favorability, pulling him down a little bit closer to his own sordid level. “I used to like Biden, but now he doesn’t seem that much different than Trump,” voters might say. And once they start muttering things like that, Biden will be finished, his aura of electability shattered. He’ll be just another Washington swamp-dweller, monetizing his power and influence to benefit himself and his family.



Sen. Elizabeth Warren (D-Mass.), a 2020 White House hopeful, on Wednesday announced a plan to “end lobbying as we know it” with a proposed tax on any corporation or organization that spends more than $500,000 annually in lobbying the federal government.

Her plan calls for a 35 percent tax rate on corporations and organizations spending between $500,000 and $1 million on lobbying, 60 percent for those spending between $1 million and $5 million, and 75 percent on all spending over $5 million.

“Corporate lobbyists are experts at killing widely popular policies behind closed doors,” Warren wrote in announcing the proposal.

The presidential candidate has focused much of her presidential campaign on government corruption and social inequality.

A previously announced anti-corruption plan would prohibit most federal officials from serving as lobbyists after leaving the government, prevent lobbyists from donating to candidates and ban lobbying in Washington on behalf of foreign entities.


Should be 35% or more in the first place.

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