The Final Countdown – 2/12/24 – Senators Advance Bill to Send Billions to Ukraine, Israel, Taiwan

On this episode of The Final Countdown, hosts Angie Wong and Ted Rall discuss news from around the globe, including U.S. Senators pushing forward a budget bill that funds Ukraine, Israel, and Taiwan. 
Aquiles Larrea– CEO of Larrea Wealth Management, Finance Expert
Steve Gill – Attorney 
Dan Lazare – Independent Journalist 
Robert Fantina – Author, journalist, activist 
 
The first hour begins with Aquiles Larrea, a finance expert, who shares his perspective on the Congressional budget, and GOP Senators pushing forth a bill that fuels billions to Ukraine, Israel, and Taiwan. 
 
Then, attorney Steve Gill talks about the latest out of the Fani Willis scandal. 
 
The second hour starts with independent journalist Dan Lazare, talking about a new poll revealing that many Americans believe that U.S. President Biden is too old for another term and the state of his mental acuity. 
 
The show closes with author, journalist, and activist Robert Fantina, about a potential Israeli invasion of Rafah. 
 

What’s Left 3: What If We Had $4.5 Trillion a Year to Spend on Ordinary People?

            The $1.6 trillion we waste each year on the Pentagon is an irresistible target for leftists looking for funds to appropriate to the human wants and needs that are currently going un- and under-addressed. Let’s redirect those funds to something more worthwhile than slaughtering innocent people around the planet—i.e., anything else. But why stop there?

            The U.S. federal budget is full of poor spending choices and waste caused by bureaucratic inefficiency.

            One item you might not immediately think of as flexible or fungible is interest on the national debt, which came to $659 billion in the 2023 fiscal year. That derives from past spending. We don’t have a time machine, so what can be done about that?

            Quite a lot, actually. That figure reflects an increase of $184 billion, or 39%, from the previous year and is nearly double that for fiscal year 2020. The culprit for that massive spending spike is the Federal Reserve Bank’s optional, unnecessary, totally reversible decision to repeatedly raise interest rates following the COVID-19 lockdown, including on government-issued Treasury bonds and notes that finance the debt, in order to fight a spike in inflation that probably would have eased without any action by monetary regulators. And it’s only going to get worse. The Congressional Budget Office projects that interest on the debt, which currently amounts to two percent of GDP, will rise to six percent by 2030.

            In other words, American taxpayers would have saved $184 billion had the Fed chosen not to increase interest rates. Which, if our society valued labor more than capital, it would not have. Not only is the Fed’s obsessive fear of inflation a paranoid and anachronistic vestige of a 1970s economy that no longer exists and in any event was not nearly as bad for workers as we’ve been told, it repeatedly leads them to risk recession because, in the worst-case scenario from business’ vantage point, layoffs and wage cuts rein in the power of labor, which amounts to about two-thirds of the expenses of a generic U.S. corporation.

            The federal government issues about $250 billion per year to individuals and corporations that objectively do not qualify for the subsidies, including $1 billion a year to dead people.

            Nearly $2 billion per year goes to maintaining 77,000 empty buildings.

            Then there’s the revenue side—or lack thereof. In 2021, the last year for which statistics are officially available, the Internal Revenue Service failed to collect $688 billion in unpaid taxes because it didn’t bother to send dunning letters or to conduct audits of wealthy individuals or corporations.

            And that’s not even touching the fact that income taxes can, and should be increased on high income, individuals and corporations.

            For this exercise, we are omitting other expenses that are arguably wasteful, like most of the budget of the Department of Homeland Security, the $70 billion a year foreign-aid budget and outlandish headline-grabbing projects like federally-supported studies of how Russian cats walk, and how the fur color of Labrador retrievers affects their internal body temperatures. Taxpayer money should never be wasted. But here we are looking for the biggest reservoir of foolishly-spent money, not the latest Bridge to Nowhere.

            Leaving the tax structure as it is, at least $3.5 trillion per year is currently being wasted, squandered, thrown away for no good reason whatsoever. Meanwhile, Americans live in terror because they are one or two paychecks away from economic ruin, don’t know what they would do if they were diagnosed with a terrible disease and are going into insane amounts of debt in order to send their kids to college.

            Now imagine if large corporations and wealthy individuals were made to pay their fair share of taxes. Six out of 10 voters say they resent how low taxes are for the rich and big companies.

            Currently, for example, families don’t pay Social Security withholding taxes on income over $250,000 per year. Eliminating the highly regressive cap would bring in an additional $100 billion per year.

            A 2% or 3% wealth tax on people worth more than $50 million—a tax on assets rather than income, as other developed countries have—would bring in at least $200 billion annually.

            Taxing capital gains at the same rate as income would bring in an additional estimated $100 billion a year.

            Corporate income taxes as a percentage of GDP have steadily fallen since 1950, peaking at 6% during the Korean War, hitting 3% in 1970 and plunging to 1% during the Reagan years, where they are now. Companies are sponging off the greatest consumer market on earth; they should be made to pay if they want to continue to play. If we returned to that 3% rate, when the economy was booming by the way, the Treasury would bring in an additional $500 billion annually.

            All told, we are looking at roughly $4.5 trillion per year. $4.5 trillion a year that could be used to alleviate hunger, house the unhoused, treat the sick, build infrastructure, educate the young, and retrain older workers.

            Next week: Americans’ biggest worries and how the Left could reallocate those $4.5 trillion in ways to make us all better off.

(Ted Rall (Twitter: @tedrall), the political cartoonist, columnist and graphic novelist, co-hosts the left-vs-right DMZ America podcast with fellow cartoonist Scott Stantis. You can support Ted’s hard-hitting political cartoons and columns and see his work first by sponsoring his work on Patreon.)

DMZ America Podcast #136: Suffering from Dementia, Joe Biden Tanks His Presidency in Insane Rant

Since Joe Biden announced his run for president in 2020, cartoonists Ted Rall (Left) and Scott Stantis (Right) have warned America that he suffers from dementia. They were ridiculed, marginalized and insulted as a result. Now a devastating report by Special Counsel Robert Hur confirms that a pair of editorial cartoonists were right while the elite political class were wrong and/or lying: Biden has been so addled for so long that he cannot identify which years he served as vice president and that, in 2017, he could not say when his son Beau died (it was 2015). He is so senile, Dur says, that he cannot be held accountable in a court of law. Minutes after the Dur Report’s release the president called an impromptu press conference where he raged at White House reporters that he was still mentally sharp—and then said that Sisi was the president of Mexico (it’s actually Egypt). Biden’s presidency is effectively over. Ted and Scott ask: how will the unwinding go down?

Watch the Video Version: here.

The Final Countdown – 2/9/24 – Furious Biden Lashes Out Over Special Counsel’s Comments

On this episode of The Final Countdown, hosts Angie Wong and Ted Rall discuss news from around the world, including Tucker Carlson’s unprecedented interview with Russian President Putin. 
Ryan Cristian – Founder and Editor, Last American Vagabond 
Ed Martin – Attorney 
Mark Sleboda – International Relations and Security Analyst 

 
The first hour begins with Ryan Cristian, Founder and Editor of Last American Vagabond, breaking down American journalist Tucker Carlson’s two-hour-long interview with Russian President Vladimir Putin. 
 
The second hour begins with Ed Martin, who speaks about Biden’s reaction to the Special Counsel’s report on his handling of classified documents. 
 
The show closes with Mark Sleboda, an International Relations and Security Analyst who shares his perspective on Ukrainian President Zelensky’s removal of the military’s top general, Valery Zaluzhny. 
 
 

The Final Countdown – 2/8/23 – Landmark Case: U.S. Supreme Court to Decide on Trump’s Ballot Fate

On this episode of The Final Countdown, hosts Angie Wong and Ted Rall discuss top news from around the globe. 
Gerald Celente – Founder of the Trends Research Institute, Trends Journal Publisher
Mitch Roschelle – Media Commentator
Dan Lazare – Independent journalist and author 
Jeremy Kuzmarov – Managing Editor, Covert Action Magazine 

 
The show begins with the Founder of the Trends Research Institute Gerald Celente, who shares his perspective on Tucker Carlson’s interview with Russian President Putin. 
 
Then, Mitch Roschelle, a media commentator, weighs in on the U.S. Department of Justice not filing charges against President Joe Biden over his handling of classified documents.  
 
The second hour begins with Dan Lazare, an independent journalist, sharing his insights on the 14th Amendment case against Trump. 
 
The show closes with Managing Editor for Covert Action Magazine Jeremy Kuzmarov, to discuss Israeli Prime Minister Netanyahu’s refusal to negotiate a ceasefire. 
 

DMZ America Podcast #135: 14th Amendment at SCOTUS, Putin Speaks, Predicting 2024

Editorial cartoonists Ted Rall (from the political Left) and Scott Stantis (from the political Right) discuss the week’s biggest stories without the boring yell fests but with force and passion.

First up this week: The Supreme Court hears oral arguments in the groundbreaking attempt by Colorado voters to remove Donald Trump from the ballot under the 14th Amendment to the Constitution. Scott and Ted dissect the arguments pro and con and explain how they would resolve the impossible choice faced by SCOTUS: put the law first, or the country.

Second: Tucker Carlson’s interview with Russian President Vladimir Putin will prove especially notable for Americans’ unfiltered chance to hear firsthand about Russia’s views on the war in Ukraine. Scott and Ted explain where we are now and lay out possible scenarios for the inevitable peace negotiations now that it is clear that Ukraine has decidedly lost.

Third: Alan Lichtman’s 1981 13-point theory on predicting presidential elections based on historical metrics gives Scott and Ted a chance to geek out over the current 2024 campaign.

 

Watch the Video Version of the DMZ America Podcast: here.

The Final Countdown – 2/7/24 – Nikki Haley Fails in Primary Despite Running Unopposed

On this episode of The Final Countdown, hosts Angie Wong and Ted Rall discuss current events from around the world. 

 
Andrew Langer – President of the Institute for Liberty, Director of CPAC Foundation’s Center for Regulatory Freedom 

Scott Stantis – Cartoonist for The Chicago Tribune 
Ajay Pallegar – Criminal and civil attorney 
Nebojsa Malic – RT Journalist 
 
The show starts with President of the Institute for Liberty, Andrew Langer, who shares his perspective on the Nevada primaries, and presidential candidate Nikki Haley’s loss. 
 
Then, Scott Stantis joins the show to discuss Tucker Carlson’s interview with Russian President Putin. 
 
The second hour begins with Ajay Pallegar, a criminal and civil attorney, sharing his legal expertise on the ruling that strips Trump of presidential immunity. 
 
The show closes with journalist Nebojsa Malic who weighs in on the possibility of a ceasefire deal in Gaza.
 
 

The Final Countdown – 2/5/24 – Migrant Deal and Budget in Limbo as Congress Remains Deadlocked

On this episode of The Final Countdown, hosts Angie Wong and Ted Rall discuss breaking news domestically and abroad, including the Congressional Budget and the U.S. migrant deal. 

 
Dan Lazare – Independent journalist and author 

Armen Kurdian –  Retired Navy Captain 
Jeremy Kuzmarov – Managing Editor of CovertAction Magazine 
 
The show starts with independent journalist and author Dan Lazare, who weighs in on the Congressional Budget debacle, including House GOP’s robust Israel aid bill.  
 
Then, Retired Navy Captain Armen Kurdian shares his perspective on Biden’s win in the South Carolina primary, and the rising discontent over the president among the Left. 
 
The second hour begins with Jeremy Kuzmarov, the managing editor of CovertAction Magazine discussing the U.S. airstrikes on Iraq and Syria. 
 
 

What’s Left 2: We’re a Rich Country. Let’s Act Like It.

            Lyndon Johnson, cautioned that his support of the Civil Rights Act was too bold and politically risky, famously responded: “What else is the presidency for?”

            The United States of America is one of the richest, if not the richest, nation-state in the history of the world. It also is the most unequal. So its people live in misery and squalor. What else is a country’s spectacular wealth for, other than to provide a high standard of living for its citizens?

            A Leftist economic programme should begin with the government’s budget. How should revenues be collected, and from whom? How should the money be spent? The Left must articulate a holistic approach to the federal budget.

            According to the U.S. Treasury’s website: “The federal government collects revenue from a variety of sources, including individual income taxes, payroll taxes, corporate income taxes, and excise taxes. It also collects revenue from services like admission to national parks and customs duties.” This came to $4.44 trillion in 2023. The biggest source of this cash bonanza was income taxes.

            In addition, states and cities took in about $2 trillion.

            $6 trillion is, to state the most obviously obvious thing in the world, a staggering enormous amount of money. Yet we rarely take a beat to take in that fact.

            Part of the reason is that it doesn’t feel like we live in a rich country with a huge amount of taxes coming into its coffers. It sure doesn’t look like one. People sleep on the streets. Factories are abandoned. Schools are worn. Hospitals are chaotic, understaffed and depressing. Storefronts are boarded up. Litter abounds. Bridges collapse, subways derail, doors fall off airplanes, high-speed rail and free college and affordable healthcare are for other countries.

            Why can’t we have nice things? One can blame cycles and systems: late-stage capitalism, the duopoly, the corrupt revolving door between business and the government officials who are supposed to regulate them. Fundamentally, the answer boils down to bad priorities. The people in charge would rather spend our money on the things that they care about than what we want and need: sending weapons to other countries instead of feeding the poor, tax breaks for corporations rather than treating young men addicted to opioids, building more prisons in lieu of hiring social workers.

            Reordering a society’s social and economic priorities is a complex task. To keep things relatively simple let’s set aside the comparatively lesser and infinitely more diffuse state and local budgets in order to focus upon the federal budget—round it up to $5 trillion—as the principal engine in the Left’s proposed shift of the U.S. to a country that puts people first. Further to the goal of simplification let’s assume that overall revenues remain flat in real terms adjusted for inflation—no tax cuts or hikes, no significant changes in tariffs like a trade war.

            The most recent U.S. military budget, for 2024, comes in at $886 billion—by far the biggest expense, and greater than all other federal spending combined. And that’s radically understating the real cost of militarism. As the socialist journal Monthly Review calculates, when you include costs associated with medical and other expenses related to veterans, debt service on deficit spending for old wars and military aid to foreign countries, the real number doubles. So the actual 2024 total is closer to $1.6 trillion.

            Recognizing that nothing makes us less safe than a forward, aggressive military posture in which U.S. forces and proxies are stationed around the globe. They are sitting ducks and provocateurs. A Left worthy of its name favors a military apparatus capable of defending the U.S.—nothing more, nothing less. We need missile defenses, border protections, a naval force to protect our coasts, the kind of domestically-focused armed forces that could have effectively responded to the 9/11 attacks. Given our exceptionally secure geographical situation, surrounded by two vast oceans and directly bordered only by two nations, both close allies, we can get defense—the real thing, not what the hegemony we buy with the Department of Defense—on the cheap.

            Chalmers Johnson, the academic and great critic of the American empire, called the Pentagon to ask for a list of its overseas bases; not only could they not produce such a list, they could only estimate the number. (It’s 800, more or less.) Not knowing how many bases you are is a major sign of overextension. So is the reaction, when learning that one of your country’s soldiers has been killed in combat, of surprise that we were in that nation in the first place. We should close every last one and bring every last soldier and sailor home.

            Brazil, a regional superpower that is bigger than the contiguous 48 states, has a military budget of $20 billion. That’s a rounding error, 2.5% of ours. Of course, Brazil doesn’t wage wars or plant bases on the opposite side of the planet—and neither should we. We can spend that 97.5% of that $1.6 trillion on stuff that helps rather than kills.

            Next week, a look at other federal budget expenses the Left should slash so we can redirect those precious funds to addressing our wants and needs.

(Ted Rall (Twitter: @tedrall), the political cartoonist, columnist and graphic novelist, co-hosts the left-vs-right DMZ America podcast with fellow cartoonist Scott Stantis. You can support Ted’s hard-hitting political cartoons and columns and see his work first by sponsoring his work on Patreon.)

DMZ America Podcast #133: Biden’s Bad Good Economy & Death Cab for Print Media

Political Cartoonists Ted Rall (from the Left) and Scott Stantis (from the Right) discuss the week in politics, current events and culture. This time, the guys start out wondering about the state of the economy and the 2024 presidential campaign. Though Biden has pulled ahead of Trump in national polls, key swing states Biden needs to win continue to support Trump. One of the big reasons give is that they’re unhappy with the state of the economy. But unemployment is low, wages are high and inflation is easing. Why are Americans pissed? We have answers.

The month of January saw major layoffs at legacy media companies like the Wall Street Journal, Los Angeles Times, Sports Illustrated and Pitchfork. Is there a future for journalism, and if so what does it look like?

Watch the Video Version: here.

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