Progressive Breakfast: Sanders and Trump: The Populist and the Demagogue (Please note that next Progressive Breakfast post will be sent on Monday next week!)
MORNING MESSAGE
Sanders and Trump: The Populist and the Demagogue
Trump
is painted as the right’s equivalent of Bernie Sanders, each leading an
insurgent movement against party establishments ... [But d]ubbing both Sanders
and Trump populists is a slur on both Sanders and populism. Trump isn’t leading
a people’s movement; he’s selling a brand. Sanders is building a movement to
revive democracy; Trump is seeking a mandate for a demagogue.
Trump Sides With Multinationals
Donald
Trump backs repatriation in Time interview: “Pfizer is talking about moving
to Ireland. Or someplace else … Do you know how big that is? It would wipe out
New Jersey … They have $2.5 trillion sitting out of the country that they can’t
get back because they don’t want to pay the tax. Nor would I … We should let
them back in. Everybody. Even if you paid nothing it would be a good deal.
Because they’ll take that money then and use it for other things. But they’ll
pay something. Ten percent, they’ll pay something.”
Rubio
to push flatter tax code in Detroit speech. W. Post: “Together with Sen.
Mike Lee (R-Utah), Rubio has released a tax reform planthat would slash the
corporate tax rate to 25 percent from 35 percent, expand the child tax credit to
as much as $2,500 and create two personal income tax brackets, 15 percent and 35
percent.”
Bush
challenges Trump’s claim to conservatism at NH town hall. The Hill: “‘Mr.
Trump doesn’t have a conservative record,”’Bush said at a town-hall meeting
Wednesday in New Hampshire. ‘He was a Democrat longer than he was a Republican.
He’s given more money to Democrats than he’s given to Republicans.’ … He also
slammed the billionaire businessman for his support of popular liberal positions
in the past, such as a tax on assets and a single-payer healthcare system.”
Trump
responds to Bush. Politico: “Remarking on his upbringing in Queens and
current residence in Manhattan, Trump told MSNBC’s ‘Morning Joe’ that virtually
‘everybody in Manhattan is a Democrat, everybody, and you sort of grow up in
that atmosphere.'”
Republican
candidates divide on education. NYT: “…an unusual panel discussion on
education in Londonderry, N.H. … featured six Republican candidates … Gov. Bobby
Jindal of Louisiana, Mr. Christie and Carly Fiorina … reiterated their
opposition to the Common Core. But Gov. John R, Kasich of Ohio, a supporter of
the standards, said, ‘I’m not going to change my position because there’s four
people in the front row yelling at me.’ Mr. Walker once supported the Common
Core standards [but] defended his change of stance … Bush, a strong supporter of
the Common Core, said the standards should not be ‘federally driven.'”
IMF Snubs China Currency
IMF
leaves China currency out of its “basket.” AP: “The fund’s board voted to
leave unchanged until Sept. 30, 2016, a basket of currencies used in its
operations. China, the world’s second-biggest economy, had wanted the I.M.F. to
include the renminbi in the basket … Unlike the other currencies, the renminbi
does not trade freely … Joining the basket would give the renminbi the fund’s
seal of approval, and might encourage foreigners to use the Chinese currency
more and to have more confidence in China’s financial markets.”
Former
Rep. Bill Owens says it’s “time to take action against Chinese currency
manipulation” in The Hill oped: “It is clearly time for the administration,
Congress, corporate America and the American people to stand up and take strong
action against the Chinese by imposing a tariff equal to any reduction in the
Chinese currency exchange rate, and bolstering the American public’s willingness
to pay higher prices for goods made by families and friends.”
Breakfast Sides
Obama
to commemorate the 10th anniversary of Hurricane Katrina in New Orleans.
Time: “During the Aug. 27 trip, Obama and Federal Emergency Management
Agency Administrator Craig Fugate will meet with Mayor Mitch Landrieu and
residents of neighborhoods hit by the storm … He is expected to address
rebuilding efforts during his visit and may also note the possible links between
extreme weather events like Katrina and climate change.”
Iran
deal gains more support. W. Post: “The announcements are all the more
important because some of the support was unexpected coming from key lawmakers
who were being considered truly undecided since the deal was announced. Sen. Joe
Donnelly (D-Ind.) is the latest previously undecided Democrat … Rep. Steve Cohen
(D-Tenn.), one of the more prominent Jewish members of Congress, announced on
Wednesday that he too would support the deal …”
Fed
may hold off on raising interest rates. NYT: “Officials at the Fed’s most
recent meeting in July said they were almost ready to raise rates because they
expected the economy’s continuing upward trajectory to eventually push prices up
… But inflation continues to defy those expectations … Several analysts said the
uncertain tone of the minutes suggested the Fed was somewhat less likely to
start raising rates at its next meeting, in mid-September.”
Progressive
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