That resulted in the Congress, desperate to increase federal revenue to balance the budget, enacted the Revenue Act of 1932. The Act increased taxes on all income levels, and the percentage increased with income, to near pre-1928 levels for top income earners (63%). It also implemented a 13.75% tax on corporations. This was of course, when the economists all argued that there should be year-to-year (or pay-as-you-go) budgets. The Keynesian model of allowing deficits to run up was not considered reasonable. Thus no spending on public work projects or other activities that might increase the deficit were considered.

Also, a “check tax” of 2-cents (>30 cents in today’s dollars) on all bank checks. The impact of this was that small bank customers stopped using their accounts for daily transactions since the tax was regressive towards small amounts. This created a major contraction in the money supply.

Hoover also relied on the voluntary cooperation of banks and financial corporations to direct assistance through loans to distressed banks and those facing bankruptcy. Like today, they simply failed to do so. There was no penalization for non-compliance. Instead the money was often used for further speculation and buying up of “distressed assets”.

The Reconstruction Finance Corporation (RFC) was created in 1932. The RFC’s initial goal was to provide government-secured LOANS to financial institutions, railroads and farmers. Roosevelt later expanded the RFC as a government-subsidized jobs program as part the New Deal.

Show me the words in that song that indicates that Obama is a person of substance, values, charaxcter and not, as the song says, a “Magic Negro”?

Actually that article, which was actually a critique of whites for using token blacks that had no actual power or who merely acted as “sage cultural advisors” describes Limbaugh, and the Republican party, to a “T”.

Rush may assert that it only applies to “liberals” and much of his on-air discussion actually needled the left for “Obama, the Magic Negro”. But he himself has argued that Obama was nothing but an “empty suit”, whose speeches were poetic but carried no meaning (or worse, actually hid his actual intent).

So he actually BELIEVES that Obama is “A Magic Negro”, lacking accomplishments, elected merely because of his race.

Limbaugh said that he was going to “Own the term” “Magic Negro”…and now he does. It’s his albatross, his cross to bear. The article was obscure until he dredged it up…and I doubt that 99% of those that have heard the term can even state the name of the author of the LA Times op-ed.

This reminds me of Limbaugh’s attitudes towards another “Magic Negro”…a fellow named Donovan McNabb…that Limbaugh argued shouldn’t be playing quarterback for the Philadelphia Eagles and was simply an “affirmative action” experiment by the NFL. in the 2002 season, Limbaugh argued that McNabb didn’t deserve the spot, despite the fact that the Eagles had won the NFC Eastern Division the previous year.

Rush was pulled off the air for those comments, which were widely regarded as racist. McNabb went on to win the Divisional title in that year, 2003, 2004, and made a comeback last year to take the Eagles to the 2008 Championship game. He won Pro-Bowl selections repeatedly.

Meanwhile Limbaughs version of accomplished Blacks are folks like Clarence Thomas.

The students going to college to artificially delay the unemployment figures will then have greater access to financial aid. Great, now they will have 2-5 years to build up college debt among other living expenses debt because minimal jobs have been created. Right now we have the highest unemployment rate among College graduates. College is proof to employers that a person can get through college and has some level of determination. It doesn’t not necessarily translate to higher intelligence or even better job security. Learning how to be responsible with money would be the greatest class/learning experience that any person could receive.

Again infrastructure is important but now it the time strictly for stimulus so the current college students have jobs when they graduate college, or high school or when any person decides to enter the workforce.

Actually that’s PRECISELY what he said.

“He wants his policies to fail, not be passed.”

The first part…not the second. He has said that he hopes that Obama’s policies…and the President DOES set the policy agenda for the country…will fail.

“He obviously wants America to prosper.” Not if it requires success of Obama or his policies. And he isn’t going to help make those work in anyway…he’s going to fight them, work to make them fail, and in doing so make the country unsuccessful.

Rush is already saying that he deserves control of billions, that he should be in charge of the budge, etc. Limbaugh wants to play petty Napoleon, an unelected demogogue who has never faced a real election claiming he deserves this power? He’s obviously insane.

But college is a time and opportunity to find others that have thought about their own fields intensely, who usually have a broader perspective themselves, and where you can meet and investigate a broad range of topics.

But many students only find that it challenges their preconceptions and stop up their ears, muddle through, and come out with only a narrow experience. They’ve wasted the opportunity.

As far corporations are concerned, you are right we should raise taxes on them until they have only three choices…. 1. Leave the country to work in countries that are more business friendly. 2. Start losing so much money that they will need to be continuously bailed out by the government. 3. Go out of business. None of these help they all take tax money out of the country, loses American jobs, and makes our country weaker in the ever expanding global environment. Yes many businesses made bad decisions and they should not be bailed out.
Study history and economics to see that Bush and the Republicans are not the cause on our current crisis. If so would France and Germany have entered recessions before us, because they have many liberal views that many liberals would love to see here. Open your mind to all sides and carefully way your decisions. That goes for many things, if you are Christian study Islam, Judaism, and other religions. It will bring about better understanding of the world around you and maybe even a greater appreciation for your own faith, or your new faith…

Point out how the re-instatement of student financial aid will allow students going to the local University obtain the skills to become employed as well as reducing the burden on their middle class families. Note as well that if students are attending school they reduce the unemployment rolls and competition for the limited blue-collar jobs currently out there.

I wonder when the Wingnut scholarships for Karl’s Klackers expire? At least now, though, they don’t share in the White House’s discount on Internet connections from the RNC.