This show covers a lot of ground…maybe more than Congress has done in its Lame Duck Session! The show starts with an interesting discussion on the Bush Tax Cuts and the rich. Jeff points out that the wealthiest Americans used to pay taxes at a 94% rate, cut down to 77% under Lyndon Johnson, and then to 28% under Ronald Reagan. With Congress not cutting spending, and loopholes and breaks geared to special interests and the wealthy, Jeff and Glenn wonder how the tax cuts for the Lower and Middle Class Americans, and Small Businesses, will be paid for if not through higher taxes on the wealthy? Glenn points out the Warren Buffet came out this week and asked to pay higher taxes. Jeff pointed out that a study showed that in 2007, the 400 wealthiest Americans, due to tax breaks and loopholes, had an effective tax rate of 16.5%. They then talk about the prospects for the Start Treaty, and Don’t Ask Don’t Tell, now that the Pentagon has released a comprehensive 9-month study showing that the vast majority of those serving in the military do not care about gays serving along side them. They close the show with an interesting discussion of the WikiLeaks issue, pointing out that the one thing not being discussed enough is the actual technological breach of security — and how something like this can be prevented from happening again.
Best Friends. Vast Experience. Engaging political discussion without the fighting…and with a few laughs. It’s PoliTalk, your weekly political podcast.