Those Poor Gas & Oil Companies

Ken AshfordEconomy & Jobs & Deficit2 Comments

As Jon Stewart pointed out recently, let’s not feel bad for the oil companies. Poor BP set a record quarterly profit of $6.118 billion, or roughly $55,000 per minute. And news comes out today that Exxon second quarter profits for this year jumped 36 percent.  They netted "earned $10.36 billion in the second quarter, the second largest quarterly profit ever … Read More

Gas Prices At An All Time High

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

Just thought you should know: Nationwide gas prices hit an all-time high in the last two weeks, rising nearly 2 cents to just over $3 per gallon, according to a survey released Sunday. The national average for self-serve regular stood at $3.0150 a gallon Friday, up 1.98 cents in the last two weeks, according to the Lundberg Survey of 7,000 … Read More

Kill The Penny

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

Count me among those who think the penny is worthless in the single, and costly in the aggregate: NEW YORK ( — Representative Jim Kolbe wants to do away with the penny – and for the second time has introduced legislation that would effectively kill it. The Currency Overhaul for an Industrious Nation (COIN) Act would force the rounding off … Read More

Your Phone Isn’t A Luxury

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

Back in 1898, the federal government imposed a 3% excise tax on all long-distance phone calls.  It was called a "luxury tax", because back then, only the wealthiest Americans could make long-distance phone calls.  In fact, most Americans didn’t have a phone. Oddly enough, that "luxury tax" has been with us for 108 years, even though phones and long-distance calls … Read More

What The Tax Cuts Mean To You

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

GOP conservatives voted yesterday to extend  the 15 percent tax rate for capital gains and dividends until 2010.  This will add another 70 billion to the deficit. But you’ll get a tax refund, right?  Well… actually…. according to the Tax Policy Center study (as reported by the New York Times): The top tenth of 1 percent, whose average income is … Read More

Spend-Crazy Republicans

Ken AshfordCongress, Economy & Jobs & Deficit, RepublicansLeave a Comment

In March, the GOP-controlled Senate voted to increase the federal debt limit by $781 billion, bringing the debt ceiling to nearly $9 trillion. Neat trick.  If you find yourself outspending the legal limits, just change the legal limits. And now, two months later, GOP lawmakers decided to raise it again. A $2.7 trillion budget plan pending before the House would … Read More

Times Explains “Net Neutrality”

Ken AshfordCorporate GreedLeave a Comment

Good editorial: "Net neutrality" is a concept that is still unfamiliar to most Americans, but it keeps the Internet democratic. Cable and telephone companies that provide Internet service are talking about creating a two-tiered Internet, in which Web sites that pay them large fees would get priority over everything else. Opponents of these plans are supporting Net-neutrality legislation, which would … Read More

The Big Boycott

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

Michelle Malkin looks at this poster and writes: "Welcome to May 1. It’s the day to hate the Yankees. That is: Americans, not the baseball team." So I guess you hate Americans if you support "the family unit", "justice for Hurricane Katrina survivors, unions, and workers.  Thanks, Michelle.

Pump Prayers

Ken AshfordCorporate Greed, Economy & Jobs & Deficit, GodstuffLeave a Comment

I don’t know what to make of this: WASHINGTON, April 26 (UPI) — A U.S. Christian group has grown tired of escalating gasoline prices and is set to stage a national prayer rally to lower the numbers at the pumps. Various Christian clergy from around the country will convene around a Washington, D.C., gas station Thursday at noon to pray. … Read More