Month: December 2020

Shocker: Trickle-Down Economics Doesn’t Work

Buck Banks

50

Bloomberg: “Tax cuts for rich people breed inequality without providing much of a boon to anyone else, according to a study of the advanced world that could add to the case for the wealthy to bear more of the cost of the coronavirus pandemic. … The paper, by David Hope of the London School of Economics and Julian Limberg of King’s College London, found that such measures over the last 50 years only really benefited the individuals who were directly affected, and did little to promote jobs or growth.”

Governor’s Mansion Up for Grabs in 38 States

Buck Banks

38

Politico: “Thirty-eight of 50 states — accounting for nearly 85 percent of the U.S. population — will hold gubernatorial elections between 2021 and 2022. … A dozen states are likely in play, if not more, raising the potential for one party to expand its influence across the nation. Republicans will have a four-seat advantage in statehouses starting in January, though the majority of Americans will still live under Democratic governors.”

U.S. Poverty Rate Is Soaring

Buck Banks

7.8 million

“The U.S. poverty rate has surged over the past five months, with 7.8 million Americans falling into poverty, the latest indication of how deeply many are struggling after government aid dwindled,” the Washington Post reports. “The poverty rate jumped to 11.7 percent in November, up 2.4 percentage points since June, according to new data released Wednesday by researchers at the University of Chicago and the University of Notre Dame.”

Dems’ Long-Term Structural Issue with Rural Voters

Buck Banks

“I think there’s a long-term structural issue. And by the way, I’ve had this conversation with Chuck Schumer several times — that we have to do a better job developing a message so that rural Americans can say, ‘Yeah, those guys, they think like I do.’ Because that’s what Trump has right now.”

— Sen. Jon Tester (D-MT), quoted by the New York Times, on Democrats and rural voters.

Australian Pol: Trump’s Mishandling of Pandemic Lost the Election

Buck Banks

“If Donald Trump had handled the pandemic half-decently he would have won the election. He was headed towards a victory until the pandemic hit. It was his mishandling of that because, in the end, the public, when threatened, want their leaders to defend them against the threat.”

— Former Australian prime minister John Howard said that Donald Trump penned a lengthy “political suicide note” with his “terrible” handling of the coronavirus pandemic, The Guardian reports.

Fraction of 900 Invitees Showed for Pompeo Party

Buck Banks

900

“Only a tiny fraction of the more than 900 guests invited to an indoor holiday party hosted by Secretary of State Mike Pompeo and his wife Susan showed up on Tuesday following an outcry from public health officials and U.S. lawmakers warning that the reception bore all the hallmarks of a super-spreader event,” the Washington Post reports. “Pompeo, whose name was on the invitation and who was scheduled to speak at the event, canceled his speech and tapped a substitute speaker. … Roughly 70 people RSVP’d for the event as of Monday night and even fewer showed up.”

Obama Labels Repoblicans the ‘Minority Party’

Buck Banks

“They have certain built-in advantages around power given their population distribution and how our government works. But the truth of the matter is that 60 percent of the people are occupying what I would consider a more reality-based universe, and those are the constituents we’re speaking to and that is a more diverse group.”

— Former President Barack Obama told the Daily Show that the Republican Party is “the minority party in this country.”

Former Republican Schmidt Registers Democrat

Buck Banks

“I spent 29 years as a Republican, I’ve spent two and a half as an independent, and later this afternoon I will register as a member of the Democratic Party. Because in America today, it’s only the Democratic Party—which is the oldest political party in the world—that stands for the ideas and ideals of American liberty.”

— Longtime GOP strategist Steve Schmidt announced on his podcast that he is registering as a Democrat after nearly 30 years with the Republican Party.