President Obama’s Osawatomie, Kansas, speech on income inequality was universally lauded on the progressive left. Since Obama has no record of job creation to run on, diverting voters attention to income inequality, which is actually down since the 1990s, is the only way Obama has a chance of being reelected. So now that Mitt Romney is using Obama’s class warfare theme against him, progressive aren’t happy. Here is what Romney is saying on the stump:
In an entitlement society, everyone receives the same or similar rewards, regardless of education, effort, and willingness to take risk. That which is earned by some is redistributed to the others. And the only people who truly enjoy any real rewards are those who do the redistributing—the government.
The truth is that everyone may get the same rewards, but virtually everyone will be worse off.
The Washington Post‘s Greg Sargent and The Daily Beast‘s Andrew Sullivan both call Romney a ‘liar’ for pointing out that Obama wants to prioritise redistribution over economic growth. New York Magazine‘s Jonathan Chait calls Romney’s rhetoric, “Glenn Beck–level insane,” and The Washington Monthly‘s Steven Benen says Romney is either a “craven con man” or “deranged.”
These are all strong words for a relatively simple drawing of contrasts between two competing views of government’s role in the economy. The Obama campaign has made it clear they are going to make Romney’s tenure at Bain Capital a focus of their campaign. Fine. Romney will make Solyndra and Obamacare, which The New York Times called, “the federal government’s biggest attack on economic inequality since inequality began rising more than three decades ago,” the focus of his campaign. These are clear, accurate, contrasts. What is the left so scared of?
Around the Bigs
The Washington Examiner, GOP fends off blame for pending tax hike: House Republican leaders hunkered down in the Capitol Wednesday,trying to figure out how to get Senate Democrats to come back to Washington from their Christmas vacations to negotiate on extending the payroll tax for a full year.
The New York Times, Signs Point to Economy’s Rise, but Experts See a False Dawn: Despite some relatively good recent economic news, like reports on increased new residential construction, economists expect growth to slow in the first half of 2012 to an annual pace of about 1.5 to 2 percent.
The New York Times, Economy Contributes to Slowest Population Growth Rate Since ’40s: The population of the United States grew at its slowest rate since the 1940s this year, thanks to a gloomy economy continued that is depressing births.
McClatchy Newspapers, EPA announces historic rule to shut coal-burning power plants: EPA Administrator Lisa Jackson announced new regulations yesterday that will cost Americans consumers $9.6 billion and shutter hundreds of power plants.
The Wall Street Journal, European Banks Rush to Grasp Lifeline: Hundreds of European banks took out $640 billion in low-interest loans from the European Central Bank on Wednesday, highlighting just how sever and widespread the European debt crisis is.
The Washington Post, In Kansas, Gov. Sam Brownback puts tea party tenets into action with sharp cuts: Led by Gov. Sam Brownback, Kansas has abolished three state agencies and cut 2,050 jobs.
The Los Angeles Times, Occupy protesters take aim at Rose Parade: Pasadena police and Tournament of Roses officials negotiated a deal with Occupy leaders to allow protesters to march, but after all the floats have gone.
CBS Los Angeles, Mayor Calls For Budget Cuts To Offset Millions In Occupy LA Costs: Los Angeles Mayor Mayor Antonio Villaraigosa says he will have to cut millions from the city’s budget to help pay for the policing and cleaning up of the Occupy LA encampment.
Campaign 2012
Paul: Ron Paul abruptly ended an interview with CNN after the network confronted him with racist statements in newsletters, some of which Paul confirmed that he made in a 1996 interview with The Dallas Morning News.
Gingrich: Newt Gingrich began his day in New Hampshire where he tried to convince voters his campaign was not dead yet. “The last three national surveys show me tied with Romney,” Gingrich said. But state Rep. Duane Erickson, a Republican from Nashua, told The Washington Examiner, “Quite honestly, I don’t know; he may have seen his best days.” Later, in Virginia where he is in a tight struggle to get enough signatures to get on the March Virginia primary ballot, Gingrich signed autographs for supporters.
Romney:Mitt Romney brushed of complaints from Newt Gingrich about negative advertising yesterday, telling MSNBC, “Look, if you can’t handle the heat in this little kitchen, the heat that’s going to come from Obama’s Hell’s Kitchen is going to be a heck of a lot hotter. We have to show that we, as a Republican Party, and as a candidate that we can stand up to the barrage that’s going to come from the Obama world.” In that same interview, Romney clarified his position on Iraq, saying that if we had perfect information about Saddam Hussein’s capabilities, we would not have invaded.
Righty Playbook
The Washington Examiner‘s Tim Carney calls on free market-conservatives and inequality-obsessed liberals to end President Obama renewable energy tax grant program.
In The Wall Street Journal, Stanford economics professor John Taylor notes that there are 84 “temporary” tax policies set to expire at the end of this year, 10 times the number set to expire in 1999.
RedState‘s Erick Erickson calls on the House to return to principle on the payroll tax: “I think the GOP now needs to out-flank the Democrats and call for clean legislation extending the payroll tax holiday permanently with no other provisions.”
Lefty Playbook
Grist calls the new EPA mercury regulations “a bona fide Big Deal.”
Senate Democrats have released a video of Senate Republicans attacking House Republicans on the payroll tax.
Center on Budget and Policy Priorities‘ Jared Bernstein posts a graph showing the gap between corporate profits and corporate compensation and doodles what he calls, “The inequality Dragon.”
