May 2010

On the Senate floor, Sen. Byron Dorgan (D-ND) lashed out at his own party for its financial reform bill, saying that if they don't fix the "too big to fail" provisions and better regulate credit default swaps, "then shame on us. We have a responsibility here. We cannot claim ever that we have done something about this system." Sen.

• Guests:
  • Bay Buchanan of The American Cause.
  • Dan Gainor of the Business and Media Institute.
  • Economist/journalist Eamonn Fingleton.
• Topics:
  • Has the President "dummied down" the Supreme Court?
  • While the fat bastards fiddle, America is burning...
    

The Times-Picayune reported last week that an oil worker who survived the April 20 explosion of the Deepwater Horizon, that killed 11 people and started a disastrous oil leak in the Gulf of Mexico, said a key safety measure was not being implented on the rig.

Even though there are Tea Party protests about high taxes, a USA Today analysis of federal data shows that Americans paid the lowest level of taxes last year since the Harry Truman’s presidency.

Federal, state, local, property, sales, and other taxes are 9.2% of all personal income in 2009, the lowest rate since 1950.  This is also true of multimillionaires and billionaires, who pay a maximum 35 percent income tax on salaries and not a penny in Social Security taxes on the vast majority of their income.