The Biden Administration is on track to close down another oil pipeline. After shutting down the Keystone Pipeline System, next on the Biden agenda is the Dakota Access Pipeline, a 1,172-mile-long underground oil pipeline from northwest North Dakota to an oil terminal in southern, Illinois. The pipeline delivered its first oil in May 2017. The pipeline’s construction was the target of months-long protests by environmental activists and Native American tribes, which became confrontational and violent as demonstrators clashed with law enforcement. The future of the pipeline depends on its permission to continue pumping oil through pipes on federal and Native ...Continue reading
Which Republican said the following about the $1.9 trillion COVID-19 stimulus package passed by the house in the early morning hours of February 27th: “This bill addresses urgent needs (brought on by the pandemic), and then buries them under a mountain of unnecessary or untimely spending." Actually, it wasn’t a Republican; it was Maine Democrat Rep. Jared Golden. He was one of the only two Democrats who voted against a spending bill that includes $2,800 in free money to working couples who don’t need it, as well as extended unemployment benefits as a disincentive to look for work. Kevin McCarthy, ...Continue reading
Can you feel it? We're talking about a lot of optimism looking ahead to this spring, summer and fall that things will return to some sort of normal as an end to the COVID-19 pandemic seems to be getting closer and closer. Cases are falling sharply worldwide in a way that they've never declined before, likely buoyed by vaccinations and some early stages of herd immunity. Here in the U.S., medical experts say that vaccinations are about to boom in March. States are opening up their sports venues again to a certain percentage of fans, and even MLB teams have ...Continue reading
Now that former President Donald Trump's impeachment trial is over, all eyes on Capitol Hill are turning to President Joe Biden's massive $1.9 trillion stimulus bill, which appears to be headed for approval down partisan lines. The Democratic majority in the House of Representatives already voted to approve the plan, meaning the Senate will take it up sometimes this week. While the plan will likely need Vice President Kamala Harris' tie-breaking vote in the Senate to snap the 50-50 gridlock, it appears to be headed to President Biden's desk before March 14, which is when some crucial unemployment benefits are ...Continue reading
The mask slipped from the face of the financial elite at the start of this year when a group of private investors played the stock market for all it was worth. Working as a group, independent low-level investors manipulated the price of Game Stop stock shares and made a killing. In response to this, the formerly popular trading app Robinhood locked Game Stop stocks from being purchased. Holders were able to sell, but they could no longer buy. In other words, when the little guy wins, the big guy takes the ball, goes home, and steals the trophy. Independent journalist ...Continue reading
Way back in 1938 the U.S. Treasury Department ruled that Social Security benefits were excluded from federal income taxes. That ruling held until 1984 when a portion of Social Security benefits were subjected to federal income taxes. The somewhat mind-boggling rationale for subjecting money we already paid as a form of taxation to yet another tax is embodied in this 1983 Report by the House Ways and Means Committee statement: "Your Committee believes that social security benefits are in the nature of benefits received under other retirement systems, which are subject to taxation to the extent they exceed a worker's ...Continue reading
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