Republican House Representative Jim Sensenbrenner has been going out of his way to somehow blame Democrats for the current economic woes. It doesn't make much sense, since Republicans were running things for six years, but hey, what does that matter? The GOP is desperate, and Sensenbrenner is notorious for proudly displaying his delusions.

But let's take a look at one of the most fervent movements still taking place in the conservative movement: corporate taxes. I was listening to a debate between anti-tax crusader Grover Norquist and progressive writer David Sirota, and the talking points for Norquist were pretty much what he's been saying for decades:

1. Taxing is stealing.

2. Corporate taxes in America are some of the highest on the planet, and are killing our economy.

3. Cutting taxes improves government revenue 

While #1 might be argued, #2 is a flat-out lie. While the STATUTORY tax rate on corporations is 35%, that's not what corporations in America ACTUALLY pay. Thanks to massive tax loopholes and numerous deductions, the average tax rate paid by Fortune 500 companies is anywhere form 6% to 15%. The state tax rate is even lower. While the average corporate tax rate on the state level is 7%, but the average tax rate paid by Fortune 500 companies is 2%-3%.

These are INCREDIBLY competitive compared to other nations' tax rates, and when Grover Norquist says the corporate tax rate is 35%, he's being intentionally misleading. He's doing it because the number is high (although not as high as in the fifties and sixties, when the economy was booming), and it scares people. But, again, the corporate tax rate is NOT uncompetitive.

If you want to argue that the corporate tax rate should be lowered across the board, then that's a different issue. That's possible, but only if the loopholes are closed. Supply side economics--based somewhat loosely on the widely disregarded Laffner Curve--developed into the form it is today primarily with the help of Grover Norquist and NO economists (they came later, ironically), which is why the theory that lower taxes can increase revenue is so easily criticized. Suggesting that the 2005 increase in government revenue was due to tax cuts is highly disputable and far too simplified.

Well, here we go! It's time for the weekend homework, and this week I'm going to provide you with a number of links to Web sites that you can use again and again. I'll try and do this again in the future, but for now, this will give you a great head start. Bookmark these.

Climate Progress -- Run by a scientist who's actually conducted empirical research on global climate change, this is a great resource. He's funny, intelligent and has no problem calling out Democrats or Republicans who are unwilling to accept scientific facts. Global warming is real, it's important, and we have technology available right now to begin combating the problem.

David Sirota -- One of my favorite columnists and author of Hostile Takeover. Sirota takes Republicans and conservative Democrats to task, focusing mainly on corruption related to lobbying issues and how bribery can affect a politician's decisions. In addition, he makes a point of showing the positive side of government and how grassroots organizations are making a real difference. Well worth subscribing to.

Paul Krugman -- A liberal economist, one of the best on this planet. Krugman's analyses on everything from the dangers of unregulated forces to universal health care to classic economics is always well researched and intelligent.

Enjoy these. The most recent posts are excellent.
 

Congratulations, Wisconsin, on choosing Barack Obama. It's good to see that Hillary Clinton's recent populist rhetoric isn't sucking too many people in ...

Don't get me wrong, though. Clinton is definitely not a bad candidate, but her insistence that she's an economic populist is an entirely new thing, and it's beginning to show. No matter who wins, it'll be easy to support either candidate against John McCain. Speaking of which, why don't we take a look at some homework readings for the weekend?

John McCain's lobbyist connections -- In case you haven't noticed, there's a lot of brew-ha-ha regarding McCain's cozy connections with one very pretty lobbyist, as well as others. When even HIS aides are getting nervous, there's definitely some substance to the story. Don't be fooled by Fox News ... McCain's lobbyist connections have existed for a long, long time. Whether more evidence surfaces or not ... we'll see. Keep an open mind.

Rick Renzi (R-AZ) indicted --  Yes, he does have connections to John McCain. Muckraker has more.

"A Trade Transformation" by David Sirota -- Read about Hillary Clinton's history on NAFTA.

 Turkish Troops in Iraq -- Following Kurdish separatist rebels, and of course this is making things a little sketchy in northern Iraq.

Al-Sadr will extend his ceasefire -- Do you still honestly think the "Surge" quelled the violence in Baghdad? Or was it the fact that the leader of the largest militia in the country called for a ceasefire? He's now calling for an extension to the ceasefire, which will make the "Surge" look even more successful. By the way, for those of you who remember Bush saying there was going to be a troop drawdown, that's not happening anymore, either.
 

In the interest of attempting to contribute positively to my community, I'm offering you a list of reading materials to help you exercise your brain during the weekend. Rather than wasting your weekend injecting electric heroin into your brain, here are some articles that are relevant to your life and may even help you learn something (gasp!). Not only that, each article only takes about ten minutes to read. Go ahead. I know, it's scary at first, learning on the weekend ... but maybe that kind of mindset is exactly why we're in so much trouble in the first place ...

"Guns Beat Green," by Naomi Klein. Why the security bubble is gaining more investments than green initiatives.

"The Democrats' Class War," by David Sirota.

"The Cost of Toppling Saddam," by Robert Shapiro. Even in 2002, economists predicted a recession related to the war in Iraq and the rising cost of oil.

"You're **** right I would," Cheney says in answer to whether he would attack Iraq. Of course he would ... he's made a handsome profit for himself and his friends.

Cheers,

Ken Brosky