Abraham Lincoln wouldn't win the GOP nomination in 2012

Lincoln 'invented' income tax

abe lincoln
abe lincoln
While Republican candidates today win kudos for signing Grover Norquist’s anti-tax pledge, it is unlikely that Lincoln would sign on, since he, in effect, invented income tax. That is to say he was the first American president to sign federal income tax into law. And not only that, but it was a progressive income tax, with the wealthiest Americans paying a higher rate.

He made no distinctions between earned income and capital gains – money made was money earned – and Lincoln’s administration needed its cut to pull the nation back from the brink of collapse. Strike one against Honest Abe.

More reasons at the Christian Science Monitor why LIncoln couldnt get elected 

No Business Man is an Island

When Elizabeth Warren said:

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Adam Smith“There is nobody in this country who got rich on his own — nobody. “You built a factory out there? Good for you. But I want to be clear. You moved your goods to market on the roads the rest of us paid for. You hired workers the rest of us paid to educate. You were safe in your factory because of police-forces and fire-forces that the rest of us paid for. You didn't have to worry that marauding bands would come and seize everything at your factory — and hire someone to protect against this — because of the work the rest of us did. “Now look, you built a factory and it turned into something terrific, or a great idea. God bless — keep a big hunk of it. But part of the underlying social contract is, you take a hunk of that and pay forward for the next kid who comes along.”

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She was mercilessly pounded by the right. Paul Ryan said she suffered from the "fatal conceit of liberalism." I wonder what Ryan would say about those doyens of liberalism, the father of the "invisible hand of the free market" Adam Smith, Thomas Payne or Abraham Lincoln.

Read what Smith, Payne and Honest Abe had to say.No Business Man is an Island

George Carlin Was Right All Along

George Carlin, comedian, writer and critic -- winner of many awards, including "The Mark Twain Prize" for comedy -- has been spouting for decades about who really runs the US govenment.  Ahead of his time Carlin was, as we so painfully and clearly see now.

Wise Words 75 Years Ago

From Marinner Eccles, chairman of the Fed, to Franklin D. Roosevelt, March 6, 1935:

[bquote]

Given the “totally inadequate” amount of money the administration is prepared to spend to jump-start the economy, there’s no reason “to expect any substantial improvement. If we spend some every year, but not sufficient to give the required stimulus to private expenditures, we can build up a large debt and still not be out of the Depression.”

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Read more http://robertreich.org/post/1441199884

Jim Worth: America's Challenge: Stealing From the Poor

Redistribution of wealth during the 1920's was devastating for America in the 30'.

In the Golden Age a small portion of American businessmen controlled a great portion of America's wealth.

That disproportionate balance of ownership led to high unemployment, tremendous loss of personal property, farms, and businesses, and long humiliating soup and bread lines -- the Great Depression.

Described in the first paragraph of "Our Electorate: America's Greatest Challenge!" the current redistribution of wealth is one of the eight critical challenges this country now faces.

That same imbalance that destroyed the U.S. economy in the 30's exists today.

Read more: Jim Worth: America's Challenge: Stealing From the Poor

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  1. Children Striking - 1835

Policy Site Links

Tax Cuts Do NOT Help The Unemployed

With corporations already awash in cash, tax cuts won’t get them to start hiring people. The Washington Post quotes Zachary Karabell, president of River Twice Research: "There's not a whole lot that you could do to entice companies to hire. You could cut taxes on them, but they're not going to hire just because they have the extra cash, because they already have the extra cash."

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