Breakfast in America: September 19, 2012

Our 501st post. A milestone!

  • Who won yesterday? The staff of The Daily Show, who managed to dig up footage of Mitt Romney’s mother explaining that his father, George Romney was a welfare recipient.

  • Romney campaign screw up of the day? Responding to calling the nation’s elderly and working poor as “irresponsible” by pointing out that 14 years ago Barack Obama said he believed in “some level” of wealth redistribution. Yeah, that’s your best argument. By the way, why is it that a government policy of intentional redistribution of income is only bad when it goes down? We’ve had a stated policy of shifting the tax code to intentionally redistribute income to the wealthy through provisions that let you make millions for going OUT of business and no one seems to care.
  • Rick Santelli is, famously, an ill-informed man who spouts off with a national media microphone in his face, but this time he has inadvertently stumbled into an important point. He said, “when I look at the labor force participation rate, and I see that out of the eligible pool of workers, we’re bringing forth the fewest to actually have a job, there is a problem here.” He’s right…giving the largest tax break to “job creators” since they triggered the Great Depression has not resulted in enough jobs for a massive labor force.

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