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Fallacies of Romney’s logic (USA Today)
Roosevelt Institute Chief Economist Joseph Stiglitz examines the flawed reasoning in Mitt Romney’s 47 percent remarks, like the fact that America is a community built to help the less fortunate, not a game show where those who come in last get eliminated.
How to be a Real “Redistributionist” (TNR)
Having noted that President Obama isn’t a very effective redistributionist-in-chief, Timothy Noah suggests eight policies, from a higher minimum wage to a revived WPA, that would have the GOP longing for the days when socialism meant the Clinton tax rates.
Disdain for Workers (NYT)
Paul Krugman argues that the 47 percent could work like dogs and still never impress Mitt Romney, since his dismissive remarks reflect the fact that the GOP consistently fails to show love to workers because it’s already head over heels for their bosses.
Mitt Romney’s Economic Plan: Win, Then Do Nothing (The Atlantic)
Matthew O’Brien notes that the Romney tape reveals he’s not going to roll out some master plan for the economy once elected. Getting elected is the whole plan, since it will restore business confidence. “Yes, I definitely want to file for bankruptcy.”
Low rates until unemployment hits 5.5%? A Fed official gives his ‘plan for liftoff.’ (WaPo)
Neil Irwin highlights a speech in which Minnesota Fed president Nayarana Kocherlakota, who usually reacts to inflation the way vampires respond to garlic, revealed that he’s ready to go even farther than some doves to get the job market back on track.
Tim Pawlenty: The new face of the GOP-Wall Street alliance (WaPo)
Suzy Khimm notes that the Financial Services Roundtable has brought Tim Pawlenty onboard as its chief lobbyist to display a friendly face to its best buds in Congress. Besides, if you can’t be president, repping the financial sector is really a lateral move.
Behind the Scenes, Some Lawmakers Lobby to Change the Volcker Rule (NYT)
Ben Protess reports that long after Dodd-Frank was signed into law, many legislators are still trying to exert their influence over its implementation by passing secret notes about the Volcker Rule. Anything you want to share with the class, Senator Brown?
Obama’s latest ‘gaffe’: Vowing to engage more Americans in the political process (WaPo)
Greg Sargent writes that attacks on Obama’s statement that Washington can’t be changed from the inside are missing the point. If FDR made his “now make me do it” comment today, the Fox News headline would be “President Admits He Lacks Free Will.”
One Nation by and for the Corporations (The Nation)
Dahlia Lithwick argues that the Roberts Court’s corporate bias doesn’t just show in the rulings it’s offered over the last years. The Court is also making it harder for people-people to get a moment of its time when there are corporate-people waiting to be served.
Feast of Fools: How American Democracy Became the Property of a Commercial Oligarchy (TomDispatch)
Lewis Lapham writes that we have a word for a political system in which the richest citizens use their considerable wealth to buy off government officials and persuade them to do their bidding, and it doesn’t begin with a “d” (though “disaster” is a good guess).