The Daily Populous

Wednesday February 1st, 2023 morning edition

image for So You Wanna Reduce the Debt? Tax the Wealthy Like We Used To

A half century ago, American’s wealthy financed the federal government mainly through their tax payments.

Tax rates on the wealthy were high: Under Republican President Dwight Eisenhower, they were over 90 percent.

Even after all tax deductions, the wealthy typically paid half of their incomes in taxes.

Since then — courtesy of Ronald Reagan, George W. Bush, and Donald Trump — the effective tax rate on wealthy Americans has plummeted.

Meanwhile, America’s wealthy are financing America’s exploding debt by lending the federal government money, for which the government pays them interest.

Now the government pays the wealthy interest on their loans to finance a swelling debt that’s been caused largely by lower taxes on the wealthy.

It’s the decline in tax revenue from America’s wealthy combined with growing interest payments to them. »

US says Russia has violated nuclear arms treaty by blocking inspections

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It caps the number of strategic nuclear warheads that the United States and Russia can deploy, and the deployment of land- and submarine-based missiles and bombers to deliver them.

The two countries, which during the Cold War were constrained by a tangle of arms control agreements, still account together for about 90% of the world's nuclear warheads.

Asked if Moscow could envisage there being no nuclear arms control treaty after 2026, Deputy Foreign Minister Sergei Ryabkov told the RIA state news agency: "This is quite a possible scenario.". »

Santos steps down from House panels amid ethics issues

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FILE - Rep. George Santos, R-N.Y., leaves a House GOP conference meeting on Capitol Hill in Washington, Jan. 25, 2023.

WASHINGTON (AP) — Republican Rep. George Santos of New York announced Tuesday he is temporarily stepping down from his two congressional committees, a move that comes amid a host of ethics issues and a day after he met with House Speaker Kevin McCarthy.

Santos was assigned to two fairly low-profile panels, the House Committee on Small Business and to the House Science, Space, and Technology Committee. »

Alec Baldwin charged with involuntary manslaughter over fatal shooting of cinematographer on Rust film set

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Hollywood actor Alec Baldwin has been formally charged in New Mexico with involuntary manslaughter over the fatal shooting of a cinematographer on the set of the western film Rust.

Hannah Gutierrez-Reed, who was responsible for weapons on the Rust set, has also been charged with two counts of involuntary manslaughter.

Image: Cinematographer Halyna Hutchins was killed in a shooting on the set of the western film Rust. »

Psychology wins wars | Jacob Ware

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In the early days of Russia’s latest brutal invasion of Ukraine, Kremlin propaganda aimed to break Ukrainian spirit.

In one particularly notorious example of Russian disinformation, claims suggested Zelensky was set to flee Kyiv, for safer pastures to the west.

Low morale weakens a force’s strength and readiness, possibly leading to defections and even fratricidal violence, while stunting voluntary recruitment. »