Progressive Breakfast: Bush vs. Obama on the Economy, In 3 Simple Charts

MORNING MESSAGE

A big debate awaits us on how we solve the problem of stagnant wages holding back middle-class prosperity. Considering that under Bush, corporations did worse than under Obama, household income still fell and private sector jobs were lost, perhaps conservative economic policies should not be our North Star.

Final Push as Obama Nears Victory On Iran

MoveOn.org and others plan vigils supporting Iran deal on Thursday: “On the evening of September 10, just two days after Congress reconvenes, MoveOn members will gather at hundreds of congressional offices and other public places across the country for Vigils for Peace and Diplomacy..."
WH may have enough Senate support to filibuster resolution disapproving of Iran deal. W. Post: “Forty-two senators are now publicly supportive of the Iran deal … But the milestone earned a restrained reaction from the White House … The muted response reflected uncertainty over whether the filibuster margins in the Senate will hold in the face of Republican attacks…”
Trump promises to “renegotiate with Iran in USA Today oped: “… right after I enable the immediate release of our American prisoners … In fact, if I am elected, I am sure the prisoners will be released before my taking office.”
Hillary Clinton, Donald Trump and Ted Cruz deliver Iran speeches today.

Republican Leaders In Budget Vice

Conservative demand grows to defund Planned Parenthood, squeezing Speaker Boehner. The Hill: “Conservative outside group Heritage Action for America says at least 28 House Republicans have signed or plan to sign a letter demanding that Speaker John Boehner (R-Ohio) and his leadership team block Planned Parenthood funding … If that many House Republicans stick to those demands, Boehner would have no wiggle room to pass a stopgap government spending bill.”
Democrats reject stopgap bill. W. Post: “Republican leaders in both the House and Senate were mulling options on Tuesday for a stop-gap funding bill that would keep the government open through early December, according to Republican aides. But Democrats rejected the idea before it was even released publicly … Democrats say they’re willing to back a short-term CR, but only so they can begin negotiations on a long-term deal that increases domestic spending. And they want to be done well before December.”

Jeb Releases Tax Reform Plan

Jeb Bush explains plan to cut taxes on wealthy in WSJ oped: “We will cut individual rates from seven brackets to three: 28%, 25% and 10% … [It] expands the Earned Income Tax Credit, ends the death tax … and ends the employee’s share of the Social Security tax on earnings for workers older than 67 … I will cut the corporate tax rate from 35%—the highest in the industrial world—to 20% … we will assess a one-time tax of 8.75%, payable over 10 years, on the more than $2 trillion in corporate profits sitting overseas … we will eliminate most corporate tax deductions …”
Krugman mocks: “…Jeb Bush has now come out with the highly original proposal that we give rich people and corporations big tax cuts. A different kind of Republican!”
Trump showing that economic populism has currency on the Right. W. Post: “Here was a Republican candidate telling voters he would not cut Social Security — that fast economic growth would remove the need to even talk about it — and that ‘hedge-fund guys’ needed to pay higher taxes. And he was winning.”

Teachers Strike In Seattle

Seattle teachers go on strike. Seattle Times: “…minutes after the union bargaining team made its announcement Tuesday evening, the Seattle School Board voted to authorize the superintendent to seek legal action to try to force teachers and other school employees back to work … Unresolved issues include pay increases and increased instructional time … The district wants to lengthen the school day … The union, however, says that proposal is a way to make teachers work more for free.”
Parents increasingly have to pay for school supplies. NYT: “With many school district budgets as tight as ever, schools keep relying more on parents to pay for what may have been basic classroom items during their childhood. As the income inequality gap has widened, that has placed an extra burden on many families that are already struggling …”
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