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News Today: Paul Krugman: The GOP Is Completely, Hopelessly Corrupt-News of the United States was founded in 1933 by David Lawrence (1888-1973), which also started the World Report in 1946. The two magazines are covering national and international news separately, but Lawrence combines them into news reports of U.S. in World and 1948 [1] and Later sold the magazine to its employees. Historically, this magazine tends to be a bit more conservative than the two main competitors, Time and Newsweek, and focus more on the story of economic, health, and education. It's also distancing news, entertainment and sports celebrities. [2] an important milestone in the history of the beginning of the magazine is including the introduction of the "Washington Whispers" column in 1934 and the column "News You Can Use" in 1952. [3] [4] in 1958, the circulation of the weekly magazine passed one million and two million in 1973. (
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It's not just Republican donors that stand to rake in millions from the party's latest tax bill.
It's a common misperception in liberal media circles that Republicans govern solely to satisfy their wealthy donors. They do that too, but as the recent #CorkerKickback controversy reveals, they're as motivated by financial self-interest as the president of the United States.
In his Tuesday column, the New York Times' Paul Krugman argues that GOP grift is even broader and deeper than the public realizes. The Tax Cuts and Jobs Act, which is expected to be signed into law as early as this week, has a 26 percent approval rating, according to the latest Monmouth University poll. While they may not grasp its particulars, most Americans understand they will ultimately be paying more to finance tax cuts for multinational corporations and the top tenth of the 1 percent. What they may not know is that Republican officials themselves stand to profit handsomely from this legislation.
"Raw bribery probably isn’t the issue, although insider trading based on close relationships with companies affected by legislation may be a much bigger deal than most realize," Krugman writes. "But the revolving door is an even bigger deal. When members of Congress leave their positions, voluntarily or not, their next jobs often involve lobbying of some kind. This gives them an incentive to keep the big-money guys happy, never mind what voters think."
The malfeasance of Sen. Bob Corker (R-TN) is even more transparent. After initially voting against the GOP tax bill, citing concerns about the trillion dollars that would be added to the deficit over the next decade, Corker abruptly reversed course last week. The Congressional Budget Office hasn't issued a new report, so what changed?
Well, Republicans inserted a new provision into the legislation adding real estate companies to the list of "pass-through" businesses entitled to a huge tax break. The language directly benefits Donald Trump and—wait for it—Bob Corker, who owns a significant amount of income-producing property. Hence, #CorkerKickback.
"We may never know exactly what happened with Corker," Krugman concludes. "But there’s every reason to believe that Republicans in Congress are taking their cues from a president who openly uses his office to enrich himself. Goodbye, ideology; hello, corruption."
Read Paul Krugman's column at the New York Times.
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News Today: Paul Krugman: The GOP Is Completely, Hopelessly Corrupt
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