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National

Why You Should Be Screaming for Higher Taxes

Submitted by News Desk on Mon, 01/12/2009 - 11:21am
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US economic growth has been strongest when our taxes have been high. During World War II, then under Truman, Eisenhower, and Kennedy, our upper marginal tax rates were between 88-92%. Read those numbers again. They are astonishingly high. Those were our strongest growth years.

I never expected to say this. Pelosi's right, Obama's wrong.

Do keep in mind that we are talking about higher taxes on the richest members of society, the very richest. So, unless you're among that elite group, don't panic for personal reasons.

Keep in mind, also, that we are speaking only of income taxes.

You have certainly heard, several thousand times, that tax cuts lead to economic growth.

That's not true.

Moderate tax cuts lead to a flat economy. (The Johnson tax cuts, usually misnamed the Kennedy tax cuts, lead to 16 years of virtually no growth.)

Green Worker Cooperatives

Submitted by News Desk on Mon, 01/12/2009 - 11:13am
Source: 



Making business healthy and profitable in the South Bronx
When environmentalists approach poor communities of color, often the first impression they make isn’t very promising. “The mainstream environmental movement is full of rich, white people who try to tell people of color what to do,” says Omar Freilla, the founder of Green Worker Cooperatives, a grassroots, green enterprise in the South Bronx.

Predatory Lending and Foreclosure

Illustration: Foreclosures © 2007 Daryl Cagle politfcailcartoons.com

The Gonzales family wanted to purchase a home, but could only afford a mortgage of $2,700 per month. Although their conversations with the mortgage broker were in Spanish, their loan documents were entirely in English, which they could not read. It turned out that their mortgage cost them $4,700 monthly and carried an interest rate that adjusted up in six months. Before long, the Gonzales family was paying $5,000 per month, twice what they could afford, and without any hope of getting out of the mortgage because of a $16,000 prepayment penalty, which they had been unaware of.

Caroline Washington, an 83-year-old African American woman living in San Francisco, was induced by her broker to refinance her home three times in three years, causing her $52,000 loan balance to balloon to $240,000. Forced to make monthly payments of over $1,600, which represented nearly all of her fixed income, Ms. Washington lost her home to foreclosure.

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In this Issue - From the Editor

Race-Regionalism Nav graphic

The election of Barack Obama represents a turning point in the role of race in United States politics. It proves conclusively that the United States electorate has moved past simple prejudice based on the color of a person’s skin. And it demonstrates that there is a majority coalition in favor of progressive change. This is a milestone, and it offers an outstanding opportunity to advance a new national agenda.

Unfortunately, the election in itself does very little to challenge the economic and social system that inflicts racism on vast segments of the people in this country. To make change, our movements will need to maintain consistent grassroots pressure on the new leadership. But we also need to deepen our understanding of how racial inequality is maintained. Furthermore, we need a solid theory of how and where we can redistribute opportunity so that communities of color and low-income people can gain their fair share of benefits and remedy past wrongs.

Metrics of Regional Equity

How do we measure success? As regional equity takes root in the next generation of practice, techniques and tools for measuring progress are critical to building momentum and gaining traction. Basic numerical analyses—whether counting a decreasing number of vacant properties in a neighborhood over a decade or comparing the number of jobs obtained through various CBAs in a year—bring precision and provide “hard data” to bolster arguments for regional equity policies. More subtle qualitative measures are also being developed. For example, we can now look at housing as not merely “affordable” but as existing within matrices of opportunities that include transportation to quality jobs, access to green public space, and proximity to healthful food.

A pioneer in the application of regional equity metrics for measuring and analyzing human activity and settlement patterns, urban expert and former Albuquerque Mayor David Rusk advocates using metrics to offer community leaders not only statistical indicators but also a means to interpret data. Rusk is not alone in this view. Redefining Progress (based in Oakland, California), Manuel Pastor (at the University of California at Santa Cruz) and john powell (with the Kirwan Institute)—among many others—are also part of this growing movement to establish community-defined indicators that “expose obstacles to a healthy quality of life, and illuminate economic, environmental and social trends.”[1]

Metrics also offer a way to keep multiple stakeholders committed to a plan of action without requiring congruence of motivation. Comparisons between regions that enable state or nationwide assessments are also possible with metrics. For example, Myron Orfield’s analysis of the fiscal capacities of jurisdictions illustrates compelling measurable disjunctions between affluent suburban communities and at-risk suburbs.

 

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