Commentary By Ron Beasley
Below I discussed how the citizens of Oregon had done the unthinkable and voted to increase taxes. Our great researcher Kat found this from Atlantic business reporter Derek Thompson:
The second observation is that I think this vote has nothing to do with
Left or Right. It has to do with money and anger. With double-digit
unemployment, eight-digit Wall Street bonuses and thirteen-digit
federal deficits, Americans are feeling inundated with a lot of numbers
that tell a simple story: America's workers have no money, America's
coffers have no money, but America's rich people have a lot of money.
Neither liberals nor conservatives have a monopoly on populism, and it
seems to me that Obama needs to show America tonight that he feels the
anger. If we're lucky, we might even see it. It's not entirely clear to
me how the White House loses by taking on the banks more aggressively
in the next few months to build back political mojo. Separate from
whether or not it is good financial policy, a plan that says "I'm
taxing the banks who created this mess and I'm funneling that money
into jobs programs to help average Americans pay their mortgage" is
pretty safe politics.
I think he gets it right but from what I have seen so far I have very little hope that this is the lesson Obama will take from this.
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