Phoenix talk ON ANOTHER SITE

Phoenix talk on infrastructure bank. Where does the money come from? Guess! bydaocle

Phoenix just talked about this infrastructure bank last night and how this article came out last year. It was on his blog yesterday. Guess what Obama just referenced in his speech today? You've got it. It is still in Obama's plans. Most people don't even know what he's talking about when he says it. I know I didn't until seeing this article last night. Where do you think all the millions will come from?

Put the millionaires' tax money to good use and creating the "National Infrastructure bank" ...
Bumped ~ September 2010

Snip ~ With an independent board, a professional staff and its own sources of operating funds, the Infrastructure Bank could be insulated, as much as possible, from political influence and the pork-laden congressional appropriation process. And by devoting the first three years of revenue from the "millionaires" tax increase, it could be capitalized initially at $100 billion, enough to leverage investments of two or three times that amount over the coming decade.

This ought to be a no-brainer. Given the economic challenges we face and the anxiety we all feel, if Democrats can't make a convincing case for raising taxes on 315,000 millionaires and using the money to rebuild the country's aging infrastructure, then maybe they don't deserve to be reelected.

September 2, 2010

Put the millionaires' tax money to good use

With the economy downshifting into first gear and their poll numbers sagging, the White House and Democratic congressional leaders are desperate for an economic and political game-changer as they head into the November elections. As it happens, there's one close at hand: the expiration of the "Bush" tax cuts at the end of the year.

In this instance, the politics of obstructionism appear to work in the Democrats' favor. If Republicans follow through on their threat to use Senate rules to block a vote on President Obama's proposal to extend tax cuts for households with incomes below $250,000, then the Bush tax cuts will automatically expire for everyone. At that point, Republicans will have a heap of explaining to do - not only about raising taxes and sacrificing the interests of the middle class to those of the rich but also about forgoing $700 billion in revenue over the next decade that could be used for deficit reduction. That, in a nutshell, is the Democratic strategy.

Link to Article he is referring to:

http://www.washingtonpost.com/wp-dyn/content/article/2010/09/02/AR2010090205611.html