Thursday, March 1, 2018
Story in The Atlantic cherry picks data about senior poverty
The Census Bureau's new (since 2011 but fiddled with again in 2013) Supplemental Poverty Measure (SPM) shows senior poverty in slight retreat since 2009, but you wouldn't know that from the story here (you'd have to look at the chart to the left here) which says it's up between 2015 and 2016, which it most certainly is, but hey, c'mon. The fact is, the "official" measure shows that senior poverty has dropped big time since the mid-1960s when the rate was knocking on the door of 30%, stabilizing in recent years in the 8, 9 and 10% range:
The problem is growing as more Baby Boomers reach retirement age—between 8,000 to 10,000 Americans turn 65 every day, according to Kevin Prindiville, the executive director of Justice in Aging, a nonprofit that addresses senior poverty. Older Americans were the only demographic for whom poverty rates increased in a statistically significant way between 2015 and 2016, according to Census Bureau data. While poverty fell among people 18 and under and people 18 to 64 between 2015 and 2016, it rose to 14.5 percent for people over 65, according to the Census Bureau’s Supplemental Poverty Measure, which is considered a more accurate measure of poverty because it takes into account health-care costs and other big expenses. “In the early decades of our work, we were serving communities that had been poor when they were younger,” Prindiville told me. “Increasingly, we’re seeing folks who are becoming poor for the first time in old age.”
Wednesday, February 28, 2018
Once again Trump demonstrates that he has no principles: Confiscate guns without due process
It didn't take long for the office to go to his head, but go it has. The man is now a clear and present danger.
Who will stop him? Mike Pence? Paul Ryan? Mitch McConnell?
Here:
“I like taking the guns early, like in this crazy man’s case that just took place in Florida ... to go to court would have taken a long time,” Trump said at a meeting with lawmakers on school safety and gun violence.
“Take the guns first, go through due process second,” Trump said.
Some roaring economy: 4Q2017 real GDP revised DOWN today to 2.5% in second estimate
That's down from 2.6% in the first estimate.
3Q2017 real GDP was 3.2%, indicating the economy slowed down on an annualized basis in the fourth quarter by almost 22%.
Blame it on the hurricanes if you want, but growth for all of 2017 comes in at a paltry 2.3%. That's up from 2016's measly 1.5%, but so far, Trump's 3%-4% growth is nowhere to be seen.
And neither is The Wall.
Tuesday, February 27, 2018
Leader of the free world my foot: Trump White House says it's up to China if it wants to turn back toward autocracy
Li Datong, a former editor at the state-run China Youth Daily, posted a draft letter urging legislators to vote against the move -- which would abolish term limits set in 1982 under Deng Xiaoping to prevent a return to the decades of chaos under Mao Zedong.
"It was the highest and most effective legal restriction meant to prevent autocracy or putting individuals above the party and the state," said the letter. It was not sent to legislators but shared with hundreds of people in a private group on China's WeChat phone messaging app.
"Lifting the term limits of national leaders will be ridiculed by civilised nations all over the world and also sow the seeds of chaos for China," said the text posted on Monday. ...
"The president has talked about term limits in a number of capacities during the campaign and something that he supports here in the United States, but that's a decision that's up to China," said White House spokeswoman Sarah Sanders.
More here.
Monday, February 26, 2018
Supremes decline to rule on DACA ahead of court of appeals, could take another year to reach Supremes again
Illegality isn't an emergency to the Supremes. Neither is the challenge to the Executive branch's constitutional authority in the matter.
You live by the courts, you die by the courts.
If Trump had any balls, he'd ignore the courts and deport them all. Let the courts try to enforce their rulings.
Story here.
To Richard Brookhiser of National Review, illegal immigration isn't even a thing, and conservatism's biggest hypocrites are among the Religious Right
Here, where strong national defense, cultural and New York intellectual conservatives, and free-marketeers all receive his scorn:
Trump’s conservative admirers have had to abandon and contradict what they once professed to hold most dear.
The most egregious example is the religious Right. The religious Right is the latest version of an old model of American politics, variously incarnated by Puritans, abolitionists, and William Jennings Bryan. It, like its predecessors, has argued that America and individual Americans need to have a godly or at least moral character to thrive. Now the religious Right adores a thrice-married cad and casual liar. But it is not alone. Historians and psychologists of the martial virtues salute the bone-spurred draft-dodger whose Khe Sanh was not catching the clap. Cultural critics who deplored academic fads and slipshod aesthetics explicate a man who has never read a book, not even the ones he has signed. Followers of Harry Jaffa, the most important Lincoln scholar of the last 60 years, rally round a Republican who does not know why the Civil War happened. Straussians, after leaving the cave, find themselves in Mar-a-Lago. Econocons put their money on a serial bankrupt.
Poor fella. No one listens to him anymore.
Sunday, February 25, 2018
Laugh of the Day: Incompetent Sheriff Israel thinks he's Sheriff Joe
Quoted here:
"Jake, I can only take responsibility for what I knew about. I exercised my due diligence. I've given amazing leadership to this agency—" Israel started.
The tongue really had to lube the lips for that one.
Nikolas Cruz called the cops on himself, but not even they listened, or cared
Are you listening, America? To anyone?
The New York Times reports, here:
Mr. Cruz, 19, himself called the authorities just after Thanksgiving, describing how he had been in a fight and was struggling with the death of his mother. “The thing is I lost my mother a couple of weeks ago, so like I am dealing with a bunch of things right now,” he said in a childlike voice, sounding agitated and out of breath.
Saturday, February 24, 2018
The problem with Trump at CPAC is that he made it sound like the Second Amendment is negotiable
“By the way, if you only had a choice of one, what would you rather have — the Second Amendment or the tax cuts?”
More here.
Friday, February 23, 2018
Marco Rubio entertains infringing the Second Amendment
How about the First Amendment, Marco? Or the Sixteenth? or the Fourteenth? You skull full of mush.
Here:
"If we are going to infringe on the Second Amendment, it has to be a policy that will work," Rubio said in an interview Thursday with AP.
Thursday, February 22, 2018
Ironman estimates stock repurchases by corporate America of $628 billion in 2018 due to tax cuts
Here:
What we find is that 2018's projected total of $628 billion in buybacks will break the previous record of roughly $589 billion worth of stock repurchases that was set by U.S. corporations in 2007, which would work out to be about a 7% increase over that previous record.
Time will tell if share repurchases were the right thing for the companies that are choosing this action to have done with the benefits they received from U.S. corporate income tax reform.
Surprise, the tax cuts are showing up in, not your wallet, but enormous stock buy-backs by large corporations, which explains the rising stock market
In other words, so-called sideline cash coming into the market is really nothing more than taxcut cash reallocated to stock buy-backs by corporate America.
Marketwatch reports here:
But now, courtesy of Goldman Sachs, we know where the tax cut is really going. Surprise! It’s paying for stock repurchases by corporations, as Corporate America despairs of investing in much other than dividing the pie provided by near-record profitability into fewer and larger pieces.
Buyback announcements are up 22% this year to $67 billion in just six weeks, Goldman said in a note to clients. This follows a report by benefits consulting firm Aon Hewitt finding that 83% of large companies don’t expect the tax cut to boost salaries at all — just help pay for small bonuses companies like WalMart and AT&T gave workers, which reporters soon discovered were, themselves, skewed toward higher-paid, longer-tenured employees in many cases.
Wednesday, February 21, 2018
Tuesday, February 20, 2018
Laugh of the Day: Michael Moore, useful idiot of Russia-instigated "Not My President" rally 11/12/16
Along with about 25,000 other dimwitted New Yorkers.
Monday, February 19, 2018
Just words: A total joke endorses a total joke
Mitt Romney, running for Senate from a shit-hole Utah, accepts endorsement of President Trump.
Labels:
Barack Obama,
CNBC,
Donald Trump 2018,
just words,
Mitt Romney 2018,
shithole
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