I will protect your pensions. Nothing about your pension is going to change when I am governor. - Chris Christie, "An Open Letter to the Teachers of NJ" October, 2009

Friday, August 26, 2011


On the one hand:
At least 23 states have made huge cuts to public education spending this year, and school districts are scrambling to find ways to cope. School foundations, parent-teacher organizations and local education funds supported by business groups and residents contribute at least $4 billion per year to help public schools throughout the country.
On the other:

The 400 richest Americans used to pay  30% of their income on the average to Uncle Sam. Today, they pay 18% on the average, according to Steve Rattner, a Wall Street financier, who just presented these figures on Mornings With Joe,MSNBC.
The main reason for the drop in their tax rate of some 40% is the tax cuts by George Bush in 2003, taking the rate paid on dividends and capital gains down to 15%. This reduction in the investment class’s taxes powered the bull market in stocks from the fall of 2003 until the fall of 2007.
Look, you can't expect the "producers" to subsidize these lazy, parasitic students, what with their endless calls for sports and the arts and computers and reasonably sized classes and text books and teachers with college degrees who have health insurance.

If you ask these people to pay more, they may lose the incentive to play rigged games on Wall Street that they never lose because they are always be bailed out with other people's money. Plus, after fueling their private jets, they may not have enough dough left over to buy off the entire political system and the media.

And then where would we be?
Luvey, those urchins better not be playing basketball on MY dime...


Unknown said...

Next question Joe,
Where does Wall Street financier Steve Rattner stand on PUBLIC OVERSIGHT (aka, audits, disclosure and accountability) of tax money funneling into public/private partnerships? You know, private contractors hired to do the government's work without those pesky public employees salaries and pensions; like teachers, fireman, police, post office workers,etc?

Rattner has his own sordid, history of fraud and cronyism. He has the distinct credential of acting as Bloomberg's personal financial advisor, is bff with Arthur Sulzberger, and paid a $5.5 million fine for a fraud and bribery scheme. If he's an example of a representative for the higher taxes messaging, someone should ask him what's in it for him.

The inimitable Leonie Haimson has a story on Rattner's incestuous relationships with the powerbrokers in NYC who are responsible for charter school oversight:

Hate to be cynical, but do you think Rattner and his ilk see higher taxes as a lucrative spigot for their pubic/private partnership schemes?

thinker said...

Good point jcg, and I'll add the obvious point that your post brought to my mind: The GOP, Wall Street and business cries constantly about how "over-regulated" they are by the government, how they can't possibly operate and make a profit-it's why they need tax breaks and subsidies, no? And yet, when it comes to the teachers in the classroom, bring on the regulation!