About That Loan Forgiveness…

President Biden has announced his college loan forgiveness program. Let the carping begin!

Critics scream that forgiveness takes money from the broader tax base, mostly made up of workers who did not go to college, to subsidize the debt of people with valuable degrees. Technically, I suppose that’s true–but it’s also true for the massive corporate subsidies and tax credits that the GOP loves.

What about Trump’s 2017 tax cut for millionaires? Or those oil company subsidies and multiple other subsidies for big companies that can afford to hire good lobbyists?  How about those lower tax rates for hedge fund managers (“carried interest deduction”)?What about tax provisions benefitting only the rich–for example, allowing 100% deductibility for yachts purchased for “business purposes,” and  100% of the future depreciation for private jets in their first year of service?

Where are the GOP howls of “unfairness” about those examples of “socialism?” (I forgot–in the good old U.S. of A., we have socialism for the rich and capitalism for the rest of us…)

Republican lawmakers screaming the loudest about “unfairness” are the most hypocritical: Marjorie Taylor Greene  had $183,504 in PPP loans forgiven; Vern Buchanan (Florida) had more than $2.3 million forgiven;  Markwayne Mullin (Oklahoma) had more than $1.4 million forgiven; Matt Gaetz (Pedophile) had $482,321 forgiven. The list goes on. And on.

It also turns out that not all beneficiaries of loan forgiveness have those valuable degrees. A lot of them just have the debt. Researchers tell us that the people who struggle the most to repay their loans “are less likely to be baristas with six figures in debt and a graduate degree than blue-collar workers who have a smaller amount of unpaid loans but never graduated college.”

As Biden said, that worker has the “worst of both worlds — debt and no degree.”

The loan forgiveness program is specifically targeted to borrowers making less than $125,000 annually–those Yale graduates pulling down big bucks on Wall Street won’t qualify.  The relief will go to middle and low-income borrowers struggling to pay off their loans–and that targeted debt forgiveness is likely to have a significant positive economic impact. (As numerous studies have confirmed–when you give lower-income people more money, they spend it.)

A couple of things worth noting:  women ( Black women in particular) represent a disproportionate number of the borrowers who struggle with repayment; and school teachers are among those most likely to benefit.

A July 2021 report from the National Education Association showed that 45% of educators were student loan borrowers and over half of those still have a balance, averaging almost $59,000. Teaching typically isn’t a high-paying career, so paying off loans can be particularly burdensome. Experts say loan forgiveness would especially benefit early education (pre-K) teachers, who make even less than those in the K-12 system.

The loudest criticisms of loan forgiveness seem to come from people who paid off their own student debts. Alexandra Petri had a great –albeit snarky–response to those complaints in a Washington Post column.A couple of those paragraphs:

DISGUSTING! AWFUL! I have just received word that life is getting marginally better for some people, and I am white-hot with fury! This is the worst thing that could possibly happen! I did not suffer and strive and work my fingers to the bone so that anybody else could have a life that does not involve suffering and striving and the working of fingers to the bone. I demand to see only bones and no fingers!…

Every time anyone’s life improves at all, I personally am insulted. Any time anyone devises a labor-saving device, or passes some kind of weak, soft-hearted law that forecloses the opportunity for a new generation of children to lose fingers in dangerous machinery, I gnash my teeth. This is an affront to everyone who struggled so mightily. To avoid affronting them, we must keep everything just as bad as ever. Put those fingers back into the machines, or our suffering will have been in vain…

I fought uphill battles and squinted into the night and toiled and burdened myself in the hope that my children, one day, would also get to work exactly that hard, if not harder, and suffer at least as much as I did, and have, if the Lord allows, lives worse than mine. God, please make their lives worse!

These reactions do make me wonder why the owner of the corner hardware store isn’t howling about the unfairness of subsidies that pad the bottom lines of bigger businesses, or the tax cuts that saved him $10, but put lots more money in the pockets of the already-wealthy.

For my part, I really prefer having my tax dollars support the education of a kid from a low or middle-income family, rather than subsidizing the purchase of a yacht “for business purposes.”

Comments

Bananas!

Sometimes, political reality is so bizarre, all you can do is laugh– and Dana Milbank is one of the funniest political commentators around.

You’d think that We The People would be accustomed to the GOP’s steady retreat from seriousness and sanity. There’s Marjorie Taylor Greene, who opposes solar energy because we won’t have electricity after the sun goes down. Louie Gohmert has continued to protect his reputation as the dumbest mammal to enter a legislative chamber since Caligula’s horse. Lauren Bobert wants all citizens to pass a test on the Bible…The litany of idiocy could go on for hours.

What set Milbank off was an even more recent example: one of Trump’s endorsed congressional candidates–a North Carolina  Republican nominee named Bo Hines– “weighed in recently on all the talk about the United States becoming a banana republic, one of those nominal democracies where the rule of law is shaky. But Hines, a former college football player, spoke as if everybody was referring to Banana Republic, the clothing retailer.”

“A lot of people have likened the situation going on right now, is, you know, they say we’re in a Banana Republic,” he told radio host John Fredericks. “I think that’s an insult to Banana Republics across the country. I mean, at least the manager of Banana Republic, unlike our president, knows where he is and why he’s there and what he’s doing.”
 
Hines’s campaign retroactively labeled this “a joke.” Ha! I nearly split my pleated chinos.

Sorry, but that excuse is a total Lululemon. Misunderstanding a universal idiom, particularly while maligning President Biden’s mental acuity, suggests Hines is just not very PetSmart. On an intelligence scale of 1 to 10, he’s Five Below.

I wonder how many Trump Republicans would understand Milbank’s references…let alone laugh…

The column also has fun with the ongoing joke that has been Dr. Oz’s campaign for Senate in Pennsylvania. Among other gaffes, the noted quack distributed a video showing him shopping at a Redner’s supermarket.  Not only did he misidentify the grocery as “Wegner’s,” he filled his arms with broccoli, asparagus, carrots, guacamole and salsa, leading Milbank to note that supermarkets have these things called carts. The point of the video was to blame President Biden for the high price of the vegetables, which he called crudités, a word unlikely to be used by average guys going to the store for their wives. (The Democratic candidate, John Fetterman, who has had what looks like a lot of fun trolling Dr. Dense, tweeted that people in Pennsylvania “call that a veggie tray.”)

Milbank had fun with several other GOP candidates, but he outdid himself when he came to Hershel Walker, Georgia’s Senate candidate. (Granted, it’s hard NOT to laugh at Walker. I know it’s not kind to make fun of people who are mentally disabled, but typically those individuals aren’t running for the U.S. Senate.)

Leading this confederacy of dunces is Herschel Walker, GOP Senate nominee from Georgia. He took the position that there are 52 states and asserted that the theory of evolution is wrong because, “If that is true, why are there still apes? Think about it.”

Then think about Walker’s thoughts on the futility of fighting air pollution: “Since we don’t control the air, our good air decides to float over to China’s bad air. So, when China gets our good air, their bad air … moves over to our good air space.”

Cleanup in the crudité aisle!

Milbank then returned to the Banana Republic gaffe, and noted that the retailer is

all about encouraging sedentary Americans to pretend they are 19th century explorers in safari tents or sailing ships, wearing “pieces inspired by our history, a story of daring vision and imagined journeys.” Its clothes “wink at our heritage.” 

Given the current devolution of the GOP, Milbank had some suggested “winks.”

  • The White-Nationalist Linen Line. Yearn for the days when White men alone ruled America? Then put your wardrobe through a Great Replacement and return to the hoop skirts, bodices and tail coats of yore.
  • Stasi Style. As you report to the state on the activities of teachers, journalists and those who seek abortions, show your fashion sense by wearing the jackboots, baggy trousers and belted military jackets popularized by the East German secret police.
  • The Dezinformatsiya Line. Russian state television reports that it is “worried for our agent Trump.” Share the worry, visually, with a clothing line inspired by classic Cossack hats and babushka headscarves.
  • The Giuliani Collection. As Trump’s lawyer Rudy Giuliani becomes a target of a criminal investigation, his chief financial officer prepares for a guilty plea and top-secret government files are found in Trump’s home, wear the crisp pinstripes and bold orange jumpsuits that define prison chic.

If we don’t laugh, we’ll cry…As Hershel Walker would say, “Think about it.”

Comments

When Common Sense Became “Woke”

In a recent column, Paul Krugman traced the growing anti-environmentalism of the GOP. He noted that, in the 1990s, self-identified Republicans and Democrats weren’t that far apart in their environmental views, but that since 2008 or so, Republicans have become much less supportive of environmental initiatives. After considering several possible reasons for that devolution (“follow the money” among them), he concluded that

What has happened, I’d argue, is that environmental policy has been caught up in the culture war — which is, in turn, largely driven by issues of race and ethnicity. This, I suspect, is why the partisan divide on the environment widened so much after America elected its first Black president.

One especially notable aspect of The Times’s investigative report on state treasurers’ punishing corporations seeking to limit greenhouse gas emissions is the way these officials condemn such corporations as “woke.”

Wokeness normally means talking about racial and social justice. On the right — which is increasingly defined by attempts to limit the rights of Americans who aren’t straight white Christians — it has become a term of abuse. Teaching students about the role of racism in American history is bad because it’s woke. But so, apparently, are many other things, like Cracker Barrel offering meatless sausage and being concerned about climate change.

If this seems crazy, it’s because it is. Evidently, a substantial percentage of the American population is certifiably looney-tunes…

One of the most compelling explanations for that insanity was recently offered by Tom Nichols in the Atlantic. Nichols was opining about  political violence, or the possibility of another civil war. As he noted, however,  the actual Civil War was “about something.” Unlike today’s culture wars.

Compared with the bizarre ideas and half-baked wackiness that now infest American political life, the arguments between the North and the South look like a deep treatise on government.

Nichols writes that the “soldiers” fighting “wokeness” talk about “liberty” and “freedom,” but those are really just code words for personal grudges, racial and class resentments, and generalized paranoia.

What makes this situation worse is that there is no remedy for it. When people are driven by fantasies, by resentment, by an internalized sense of inferiority, there is no redemption in anything. Winning elections, burning effigies, even shooting at other citizens does not soothe their anger but instead deepens the spiritual and moral void that haunts them.

Donald Trump is central to this fraying of public sanity, because he has done one thing for such people that no one else could do: He has made their lives interesting. He has made them feel important. He has taken their itching frustrations about the unfairness of life and created a morality play around them, and cast himself as the central character. Trump, to his supporters, is the avenging angel who is going to lay waste to the “elites,” the smarty-pantses and do-gooders, the godless and the smug, the satisfied and the comfortable.

In other words, Trump is leading the battle against “woke” folks. You know, people who have the nerve to suggest that conclusions should be based upon verifiable evidence, that many if not most of the issues we face are complicated, and that knowledge and expertise are desirable and not simply an elitist construct devised to make less educated people feel inferior.

It”s “woke” to admit that racism and anti-Semitism and homophobia still exist; “woke” to recognize that climate change is real and that it threatens our future; “woke” to criticize the “Big Lie;” “woke” to argue that women are entitled to agency over their own lives and bodies…

To those on the political Right, to be “woke” doesn’t simply describe people who have awakened to obvious realities and begun trying to ameliorate inequities. To the True Believers, the Christian Nationalists, “woke” is today’s “mark of the beast.” 

So here we are.

“Wokeness”  no longer means you’ve reached certain conclusions about contemporary society based on research, observation and  common sense. It’s morphed. It has become a label to be applied to one’s mortal enemies–and a threat to be defeated at all costs. 

 It is simply not possible for rational folks to reason with the True Believers. The old adage is right–you can’t reason people out of positions they didn’t reason themselves into. 

Welcome to the all-encompassing culture war.

Comments

Affording To Live…

GOP lawmakers–including, of course, Indiana’s two Senators–recently blocked a Biden Administration effort to cap the price of insulin for Americans with private health insurance. (Americans on Medicare will see their out-of-pocket costs decline, thanks to other provisions of the Inflation Reduction Act.)

GOP opposition to the measure, which I can’t help thinking of as a manifestation of the Republican “Let them eat cake” approach to policymaking, reminded me of a recent discussion with my sister. Her doctor had rordered some medical tests, and when she  was scheduling them, she was told that one of them–a test for cancer!–wasn’t covered either by Medicare or by her private insurance. The test was $300, and she told me that her first thought was “I can afford this, but what about all the people who can’t? What about  people who don’t have an extra $300 but do have cancer?”(Fortunately, she didn’t.)

This conversation, rather obviously, wouldn’t have occurred in most Western democracies, because in those countries, health care isn’t just for people who can afford it.

When it comes to capping the price of insulin, the influence of Big Pharma–particularly Indiana’s own Eli Lilly–was front and center with the GOP.

Lilly’s enormous profits owe a lot to the high price of insulin. That’s especially ironic, given the generosity of those who first held the patent.

Before the 1920’s, a diabetes diagnosis meant a death sentence for people all over the world. The main treatment was starvation diets to prolong the inevitable.

In 1920, a Canadian physician and scientist named Frederick Banting began working on an idea to isolate and extract insulin. He worked in the laboratories of J.R.R. McLeod, a professor of physiology at the University of Toronto. The medical student Charles Best aided him in his work to test out insulin on dogs. Chemist James Collip worked with Banting and Best to purify and refine insulin for clinical trials in humans.

On January 23rd, 1923 Banting, Best, and Collip were awarded the American patents for insulin. They sold the patent to the University of Toronto for $1 each. Banting notably said: “Insulin does not belong to me, it belongs to the world.” His desire was for everyone who needed access to it to have it.

In order to make insulin widely available, Eli Lilly, Sanofi and Novo Nordisk were given the right to produce it, and they’ve turned it into a massive profit generator. As the linked article reports, “by 1923, insulin was the highest-selling product in Eli Lilly’s history, and profits from it accounted for over half of the company’s revenue.”

And that brings us to the recent refusal of Indiana’s Senators and other GOP recipients of Lilly largesse to ensure insulin’s affordability.

As The Intercept reports, Lilly Endowment–ostensibly separate and independent from the company–is not neutral when it comes to funding entities opposed to controlling the price of medications. The Endowment,”led in part by former Eli Lilly executives and still financed by corporate stock options” funds think tanks that “work to shield corporations from taxation or government regulation,” and has given millions of dollars to libertarian groups that lobby against price controls on insulin, categorizing those recipients as “community development organizations.” (The Endowment is also the largest shareholder of Eli Lilly, Inc., holding 104,161,053 shares worth approximately $31 billion.)

The Federalist Society, for example, has received over $1.5 million from the charitable arm over the last decade and is listed under “community development” grantees of the Lilly Endowment. The Washington, D.C.-based group is a professional society for conservative attorneys, with an eye toward pro-business ideological positions.

The Federalist Society funds included a $150,000 grant last year, at the same time that the group was sharply criticizing a new Minnesota law that forces manufacturers to provide free or affordable insulin to low-income residents. The law “[inflicts] an injustice upon companies that are regularly demonized in the media,” an attorney for the Goldwater Institute writes on the Federalist Society’s website.

Last year, Eli Lilly collected over $2.4 billion in revenue from its insulin products, including the brand Humalog, with roughly $1.3 billion of that from U.S.-based sales.

“One vial of Humalog (insulin lispro), which used to cost $21 in 1999, cost $332 in 2019, reflecting a price increase of more than 1,000%. In contrast, insulin prices in other developed countries, including neighboring Canada, have stayed the same,” wrote S. Vincent Rajkumar in the journal of the Mayo Clinic in 2020.

There’s much more detail in the linked article, and I encourage you to click through and read it. That said, the real issue is the one my sister identified: if government is supposed to provide a physical and social infrastructure within which citizens can flourish, isn’t access to health care and lifesaving medication as essential a part of that infrastructure as police, firefighters, roads and bridges?

Comments

They Aren’t Even Pretending Anymore

It is becoming impossible for any honest person to deny the transformation of America’s Republican Party into a racist, anti-Semitic, anti-gay, misogynistic authoritarian cult.  At the recent CPAC meeting in Dallas, speakers and attendees were “out and proud” about that transformation–wildly applauding no less a Neo-Nazi than Viktor Orban.

Viktor Orban, the Hungarian prime minister who has consolidated autocratic power with hard-right opposition to immigration and liberal democracy, addressed a crowd of thousands of American admirers in Dallas on Thursday with a red-meat speech that could have easily been delivered by any Republican candidate on the campaign trail this year.
 
 Orban presented the two countries as twin fronts in a struggle against common enemies he described as globalists, progressives, communists and “fake news.”

The former GOP would have uninvited Orban after his delivery of a widely reported and truly horrifying speech in which–among other things– he railed against Europe becoming “mixed race.”  In the wake of that speech, one of his  close advisers resigned in protest, calling the speech “pure Nazi.”

Among Republicans In the U.S., however, there was nothing but agreement;  Donald Trump, Tucker Carlson and Ohio Senate candidate J.D. Vance applauded the speech, and Trump referred to Orban as his “good friend.” 

As the Guardian noted, the assembled crowd “roared, whooped and gave Orban a standing ovation.”

Calling for Christian nationalists to “unite forces”, Orbán told CPAC: “Victory will never be found by taking the path of least resistance. We must take back the institutions in Washington and in Brussels. We must find friends and allies in one another. We must coordinate the movements of our troops because we face the same challenge.”

He noted that US midterm elections will be later this year followed by the presidential contest and European parliamentary elections in 2024. “These two locations will define the two fronts in the battle being fought for western civilisation. Today, we hold neither of them. Yet we need both.”

Rarely has the alliance between nationalist parties across the Atlantic been so bold, overt and unshackled. CPAC was once the domain of cold warrior Ronald Reagan. But in recent years guest speakers have included the Brexit cheerleader Nigel Farage and Marion Maréchal-Le Pen, niece of the far-right French politician Marine Le Pen.

A Washington Post column by former Republican Max Boot described the speech and the response.

All you need to know about the state of the Republican Party today is what happened at the Conservative Political Action Conference in Dallas on Thursday. Hungarian Prime Minister Viktor Orban, who has been destroying his country’s democracy, received a standing ovation less than two weeks after he gave a speech in Romania in which he endorsed the white supremacist “replacement theory” and denounced a “mixed-race world.”

One of Orban’s longtime advisers quit over what she described as a speech “worthy of Goebbels” before backtracking a bit. But Orban hasn’t recanted his repugnant views, and right-wingers in Dallas thrilled to his denunciations of immigration, abortion, LGBTQ rights and “the Woke Globalist Goliath.” He even excoriated Jewish financier George Soros, a Hungarian native, as someone who “hated Christianity.” The racist and anti-Semitic signaling was not subtle.

Boot took to task the observers who see the primary victories of Georgia’s  Governor Brian Kemp and Secretary of State Brad Raffensperger as evidence of Trump’s waning influence in the party.

That was an aberration. In other races across the country, Republicans are nominating far-right fanatics who claim that the 2020 presidential election — and any election that they lose, for that matter — was “rigged.” By refusing to accept electoral defeat, they embrace authoritarianism…

Taking a cue from Trump, the winners of Republican primaries traffic in authoritarian imagery and rhetoric. Guns have become a de rigueur accessory in GOP campaign commercials. Arizona U.S. Senate nominee Blake Masters wants to lock up Anthony S. Fauci for trying to slow the spread of covid-19. And Arizona gubernatorial nominee Kari Lake wants to lock up her opponent for certifying Biden’s election victory.

Boot is hardly the only former Republican appalled by the extremist takeover of the party and the abandonment of long-held principles.

The libertarian-leaning Republican Party I grew up with in the 1980s is long gone and not coming back. Republicans still use the language of “freedom,” but their idea of freedom is warped: They want Americans to be free to carry weapons of war or spread deadly diseases but not to terminate a pregnancy or discuss gender or sexuality in school….

The most apt phrase for this American authoritarianism is the New Fascism, and it is fast becoming the dominant trend on the right. If the GOP gains power in Washington, all of America will be in danger of being Orbanized.

Ironically, Orban and the GOP embody their own “globalism”–that  of the fascist Right.

Comments