Tax Pandering Reaches Olympic Heights

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Matt Yglesias tells me something I didn’t know today:

If they gave out awards for dumb new policy ideas, President Obama and Republican rising star Sen. Marco Rubio would both be medaling this week. Their achievements? Rubio’s completely pointless bill offering a tax break to recipients of Olympic medals and—even worse—the president’s decision to hop on the bandwagon rather than show the country he has a firmer grasp on the issues than his adversaries do.

….With the president now on board, there’s a good chance Rubio’s idea will become law. In fiscal terms, the change will be minuscule. In terms of fairness, it seems like a strange slight to winners of other kinds of prizes. Are Olympic medalists worthier than winners of the Nobel or Pulitzer prizes? And of course exempting all prize income from income tax could merely encourage all kinds of people to restructure their income as prizes. The J.P. Morgan Memorial Prize for Achievement in Investment Banking, anyone?

I knew about Rubio’s ridiculously panderific bill, but I didn’t know Obama had endorsed it. Aren’t election years great? And what luck for (summer) Olympians that they’re getting saturation TV coverage precisely 90 days ahead of an election framed largely around tax rates! The Nobel prize winners aren’t so lucky, but who knows? October isn’t so bad either. Maybe they can whomp up a nice PR campaign right around the time of the presidential debates. After all, Nobel prize winners have a much stronger claim to being “job creators” than a bunch of jocks.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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