In the first half of the 19th century, the city grew rich financing, insuring and shipping the cotton produced by Southern slaves.
The health-care bill would have amounted to a substantial tax cut for the very rich, financed by cuts in Medicaid, which serves the poor.
The bill passed on Thursday includes a substantial tax cut for the rich, financed by big cuts in Medicaid, the federal program that provides health care to the poor and indigent.
During a campaign stop in Stamford, Connecticut, on Tuesday morning, President Obama said Mitt Romney's tax plan amounts to another big tax cut for the rich financed by tax hikes for less-wealthy Americans: "It's like Robin Hood in reverse," he said.
By John Cassidy August 7 , 2012During a campaign stop in Stamford, Connecticut, on Tuesday morning, President Obama said Mitt Romney's tax plan amounts to another big tax cut for the rich financed by tax hikes for less-wealthy Americans: "It's like Robin Hood in reverse," he said.
That's the very heart and soul of the Ryan vision for Medicaid--lower taxes on the rich financed by less adequate coverage for the poor and disabled.
The Republican plan -- extending the Bush tax cuts for the rich, financed by huge cuts to vital services and the expiration of unemployment benefits -- would wipe out millions of jobs with the stroke of the pen.
After decades of deregulation in most rich countries, finance is entering a new age of reregulation.
Of those self-made men, 22% got rich in finance, banking and investment.
Then, too, there is the alternative of taxing corporations and the rich to finance federal stimulus without huge deficits and increasing costly national debts.
