Tag: Jon Stewart

Adapted  from The Stars Hollow Gazette

Cross posted from The Stars Hollow Gazette

Economist and former Clinton Labor Secretary Robert Reich was a guest on Jon Stewart’s The Daily Show to discuss the economy, taxes, and that state of our political system. In a three part extended interview , Sec. Reich discusses taking back of our democracy from the special interests and “the conditions that he believes will lead to the formation of a legitimate third party in the United States.”

One of the most pernicious falsehoods you’ll hear during the next seven months of political campaigning is there’s a necessary tradeoff between fairness and economic growth. By this view, if we raise taxes on the wealthy the economy can’t grow as fast.

Wrong. Taxes were far higher on top incomes in the three decades after World War II than they’ve been since. And the distribution of income was far more equal. Yet the American economy grew faster in those years than it’s grown since tax rates on the top were slashed in 1981. [..]

What we should have learned over the last half century is that growth doesn’t trickle down from the top. It percolates upward from working people who are adequately educated, healthy, sufficiently rewarded, and who feel they have a fair chance to make it in America.

Fairness isn’t incompatible with growth. It’s necessary for it.

President Obama’s electoral strategy can best be summed up as: “We’re on the right track, my economic policies are working, we still have a long way to go but stick with me and you’ll be fine.”

That’s not good enough. This recovery is too anemic, and the chance of an economic stall between now and Election Day far too high. [..]

The President has to offer the nation a clear, bold strategy for boosting the economy. It should be the economic mandate for his second term.

It should consist of four points:  

First, Obama should demand that the nation’s banks modify mortgages of homeowners still struggling in the wake of Wall Street’s housing bubble – threatening that if the banks fail to do so he’ll fight to resurrect the Glass-Steagall Act and break up Wall Street’s biggest banks (as the Dallas Fed recently recommended).

Second, he should condemn oil speculators for keeping gas prices high – demanding that the oil companies allow the Commodity Futures Trading Corporation to set limits on such speculation and instructing the Justice Department to investigate and prosecute oil price manipulation.

Third, he should stand ready to make further job-creating investments in the nation’s crumbling infrastructure, and renew his call for an infastructure bank. And while he understands the need to reduce the nation’s long-term budget deficit, he won’t allow austerity economics to take precedence over job creation. He’ll veto budget cuts until unemployment is down to 5 percent.

Finally, he should make clear the underlying problem is widening inequality. With so much of the nation’s disposable income and wealth going to the top, the vast middle class doesn’t have the purchasing power it needs to fire up the economy. That’s why the Buffett rule, setting a minimum tax rate for millionaires, is just a first step for ensuring that the gains from growth are widely shared.

But even before any of what Sec. Reich has put forth, President Obama needs to fire Treasury Secretary Timothy Geithner and appoint Sec. Reich, Prof. Bill Black and Paul Krugman to his Economic Advisory Council.

Cross posted from The Stars Hollow Gazette

When is a war not war? According to Fox News, it’s when it involves women. Comedy Central’s Jon Stewart did a pithy take down of the Fox Faux pout-rage that has attracted the ire of Catholic League president Bill Donohue, who has his rosary in a knot, declaring a war on Jon Stewart. If it’s as successful as The National Organization for Marriage’s boycott of Starbuck’s for its support of marriage equality, it will probably result in a ratings spike for The Daily Show.

Warning: Video contains Adult Material that some may fond offensive.  

Cross posted from The Stars Hollow Gazette

Democratic challenger for the US Senate seat from Massachusetts and Harvard Law professor, Elizabeth Warren has been a popular guest this week on the cable networks. She appeared on MSNBC Thursday following the Republican debate and assessed Republicans as favoring a policy to “invest in those who already made it”. She specifically addressed wealthy businessman Mitt Romney’s income and his preferred tax rate:

“Mitt Romney pays 14 percent of his income in taxes, and people who get out there and work for a living pay 25, 28, 30, 33 percent. I get it, Mitt Romney gets a better deal than any of the rest of us because he manages to earn his income in a way that has been specially protected for rich folks,” said Ms. Warren.

Her assessment of former House Speaker Newt Gingrich was equally critical on his proposed tax policy of reducing everyone’s tax rate to 15% and expressed her support of “Warren Buffett rule” that would raise taxes on the wealthiest Americans.

Earlier on Tuesday night with Jon Stewart on Comedy Central’s “The Daily Show“, she informed Jon that “The Pats are gonna spank the Giants” and addressed tax policy, lobbying, and investment, her signature issues. She opposes cuts in education research as detrimental and the need to invest in the middle class. In Part 2, she goes on to describe the role that government should play in regulating America’s private sector.  This is the unedited interview that is only available on line

There are those who are concerned that Warren, a political novice, will compromise her principles to the pressure of Wall St. hawks like Sen. Charles Schumer (D-NY). After watching her dress down Treasury Secretary Tim Geithner during hearings as chair of the five-member Congressional Oversight Panel created to oversee the implementation of TARP, I think she’ll be able to stand her ground. I’ll forgive her for her support of the Patriots. Nobody’s perfect.

Cross posted from The Stars Hollow Gazette

Jon Stewart gives his critique of President Obama’s State of the Union.

He doesn’t spare the Republican response for Indiana Gov. Mitch Daniels or the GOP candidates.

Cross posted from The Stars Hollow Gazette

Jon Stewart of Comedy Central’s The Daily Show appeared on Fox News Sunday to debate with Chris Wallace “media bias”. Guess who lost? No betting, I won’t take your money.

   WALLACE: Even you make fun of the fact that “The New York Times” and the “Washington Post” when this document dump of 24,000 e-mails of Sarah Palin was released, and they got so excited about it, they asked their readers, can you help us go through these 24,00 documents?

   STEWART: Right.

   WALLACE: How do you explain the fact that they would do that? They would ask the readers to help them go through the Palin e-mails — inconsequential as they turned out to be —

   STEWART: Right.

   WALLACE: — but they never said help us go through the 2,000 pages of the Obama health care bill?

   STEWART: Because I think their bias is towards sensationalism and laziness. I wouldn’t say it’s towards a liberal agenda. It’s light fluff. So, it’s absolutely within the wheelhouse.

   I mean, if your suggestion is that they are relentlessly partisan and why haven’t they gone and backed away from Weiner? Now, they’ve dove, they’ve jumped into the Weiner pool — so, with such delight and relish, because the bias —

   WALLACE: Some things are indefensible.

   STEWART: — the bias of the mainstream media — oh, I’m not saying it’s defensible, but the bias of the mainstream media is toward sensationalism, conflict and laziness.

Amazing. Who was interviewing whom? Comparing Fox News to Comedy Central? Wallace is not only insane but really stupid. Lawrence O’Donnell and Rachel Maddow discussed Jon’s “interview” on O’Donnell’s The Last Word:

Up Date: From John Aravosis @AMERICAblog News: Fox Edits Out Jon Stewart’s criticism of Fox exec

This past Wednesday “Barack Obama was a guest on The Daily Show, thereby becoming the first sitting president to appear as Jon Stewart’s guest. (In July, Obama became the first sitting president ever to appear on The View.) In the half-hour-long interview, Stewart quizzed his grizzled guest about health-care reform, the financial crisis, and the midterm elections.”

“Stewart’s most combative query concerned National Economic Council director Larry Summers-in particular, Obama’s hiring thereof. ‘We can’t expect different results with the same people,’ Stewart said, referring to Summers’s previous stint as treasury secretary under Bill Clinton. He continued, ‘Larry Summers … that seems like the exact same person.’ Obama, inadvertently quoting his imminently quotable predecessor, replied, ‘Larry Summers did a heckuva job.’ Stewart, somewhat shocked, advised him, ‘You don’t wanna use that phrase…'”

This morning at GRITtv Laura Flanders talked with journalist and Truthdig Editor-in-Chief Robert Scheer, who reminds that “Summers was the chief architect of Clinton-era policies that created the economic crisis in the first place, and that Obama’s appointment of him to get us out of it was never going to result in anything but more money being thrown at Wall Street.”

It’s no wonder that there is now so much irrepressible enthusiasm among the liberals and independents and progressives who tipped the balance in the democrats favor in 2006 and in 2008 to get out and vote for democrats in the 2010 midterm elections.