Letters to the Editor

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Tag: Robert J. Samuelson


ECONOMY: Samuelson ignores inequality’s effect

Robert J. Samuelson’s column (TNT, 2-13) suggesting we’re having the wrong debate on income inequality is a combination of mixing metaphors and building a straw man. He may be the only columnist I have read who references a theory that overborrowing by the low- to middle-income led to the “credit bubble and Great Recession.”

He is correct in stating that, “Lenders relaxed credit standards, and borrowers took advantage of the easier access to loans.” But that occurred when people who had (artificially inflated) equity in their homes chose to borrow against that asset or conventional down payments were waived

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DEFENSE: Samuelson uses fear-mongering

Re: “The dagger of ‘budget sequestration’ dangles over the throat of defense’ (Robert J. Samuelson column, 3-6).

Digesting Samuelson’s weekly morsels requires much attrition; they constitute a biopsy of the neo-con soul for us to inspect.

His backdrop is sound; $2.1 trillion in budgetary reductions for 2012-2021 were passed in debt-ceiling negotiations. Of those reductions, $1.2 trillion were considered “painful” and renegotiable by congressional “super-committee” until a 2013 “sequestration mechanism.”

But Samuelson cannot resist the tried-and-true propaganda of fear-mongering, blaming our president for “devastating cuts” which “dangle over the throat of defense.”

Defense spending consumes roughly $700 billion of

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ECONOMY: Samuelson presents no context

Robert Samuelson’s economic record is one of being seldom correct but always in agreement with Wall Street and those who brought us this current economic mess.

His most recent column (7-5) is a great example of how he presents his arguments out of context to “prove” his point.

He scolds the “liberal-reactionaries” for wanting to raise taxes on the rich. He whines, “The richest 10 percent already pay 55 percent of federal taxes” (of course he has not included Social Security or Medicare taxes) without mentioning the richest 1 percent of Americans have 50 percent of the wealth and more

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