Tag: stock

The Republican Party is a party of scammers

Media Matters for America (MMfA), a progressive media watchdog group, published this piece showing how ridiculously infected with scams and scammers the Republican Party and the conservative movement in this country are. Among the scams promoted by Republicans and conservatives include, but are not limited to, reverse mortgages, quack doctors, conspiracy theories, fraudulent financial schemes, worthless stocks, and political organizations that exist solely or primarily to pay political consultants.

MMfA cited 11 examples from the past two and a half years of Republicans and conservatives scamming fellow Republicans and conservatives:

  • Mike Huckabee sold out his fans to a quack doctor, conspiracy theorists, and financial fraudsters.
  • Conservative media such as Erick Erickson’s RedState, Dick Morris, Newsmax, Townhall, and Human Events have pushed paid promotions for dubious marijuana stocks.
  • Tea party scammers have been aided by media outlets like CNN and Fox News, which, in the words of one of the shady groups in question, have given the tea partiers “great television news coverage” to promote their efforts.
  • Subscribers to CNN analyst Newt Gingrich’s email list have received supposed insider information about cancer “cures,” the Illuminati, “Obama’s ‘Secret Mistress,'” a “weird” Social Security “trick,” and Fort Knox being “empty.”
  • Five conservative outlets promoted a quack doc touting dubious Alzheimer’s disease cures.
  • Conservative media sold out their followers to a disgraced financial firm, Stansberry & Associates.
  • Fox News contributor Wayne Rogers acted as a “paid TV spokesperson” for a company pitching reverse mortgages to senior citizens. Fox had previously reported that “there’s a lot of evidence” that reverse mortgages are “predatory loans.”
  • Tobin Smith, the dubious stock pitchman fired from Fox News.
  • Fox analyst Charles Payne was paid to push now worthless stocks.
  • The Dick Morris/Newsmax super PAC boondoggle.
  • Right-wing media helped “scam PACs” raise money from their readers.

Click on every one of those links above, as they go into detail about how Republicans and conservatives scam their own kind of people. The Republican Party is absolutely rife with all kinds of scams and scammers, and the scary thing about that is that the corporate media in this country helps promote right-wing scams.

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House Democrats push for progressive tax reform

For far too long, the tepid Democratic leadership on Capitol Hill has lacked any real comprehensive plan to overhaul the federal tax code to increase taxes on the wealthy and provide real tax relief to middle-class Americans.

As if someone turned a light on, U.S. House Minority Leader Nancy Pelosi of California and U.S. Representative Chris Van Hollen of Maryland unveiled a progressive tax reform plan yesterday. This plan would repeal tax breaks that benefit the wealthy and institute a new fee on stock trades in order to provide tax relief for middle-class Americans:

Senior Democrats, dissatisfied with the party’s tepid prescriptions for combating income inequality, are drafting an “action plan” that calls for a massive transfer of wealth from the super-rich and Wall Street traders to the heart of the middle class.

The centerpiece of the proposal, set to be unveiled Monday by Rep. Chris Van Hollen (D-Md.), is a “paycheck bonus credit” that would shave $2,000 a year off the tax bills of couples earning less than $200,000. Other provisions would nearly triple the tax credit for child care and reward people who save at least $500 a year.

The windfall — about $1.2 trillion over a decade — would come directly from the pockets of Wall Street “high rollers” through a new fee on financial transactions, and from the top 1 percent of earners, who would lose billions of dollars in lucrative tax breaks.

Unfortunately, since Republicans control both houses of Congress, this is going absolutely nowhere for at least the next two years. However, for Democrats to simply advocate such a bold plan is a big step forward towards combating the rampant problem of income inequality in this country and restoring the American middle class.