It's become very clear of late, as discussed on today's BradCast, that, whether the corporate media or rightwingers like to admit it or not, it is now progressive political policies that are popular among Americans. [Audio link to full show follows this summary.]

With progressive policies in place from the Biden-Harris Administration, for example, the U.S. economy continues to be the envy of the industrialized world. New, falling unemployment numbers and growing retail sales announced on Thursday, combined with recent data finding the annualized inflation rate has now fallen below 3%, sent the stock market soaring again on Thursday. Well, except for Donald Trump's failing media company (DJT), which fell to its lowest price since going public in January. Since then, the loser stock has shed more than 50% of its market value and a full two-thirds since its high-water mark in March. (We tried to warn MAGA investors. Oh, well.)

Just one of the progressive economic policies of this Administration is the landmark Inflation Reduction Act, signed by President Biden in 2022 after being adopted by Democrats in Congress without a single Republican vote. Among many other things, the IRA allows Medicare, for the first time in history, to negotiate drug prices with pharmaceutical companies. On Thursday, the Biden-Administration announced they have completed their first round of price negotiations on ten popular drugs which will save tax payers at least $6 billion a year and $1.5 billion in out-of-pocket costs to beneficiaries.

"Under the law I signed," Biden explained today in Maryland at a rally with Vice President Kamala Harris, "Medicare can negotiate lower prices for another 15 drugs next year, 15 the following, and 20 after that until every drug is covered. That's the law. Now!" As the non-partisan Congressional Budget Office determined before passage of the bill in 2022, the measure will save the federal government nearly $100 billion over a decade --- something that Republicans used to pretend to care about, at least until every single one of them voted against it.

That's just one example of popular progressive policies at work, of course. Harris' running-mate, Gov. Tim Walz, has signed a boatload of them into law in Minnesota, including the protecting abortion rights; legalizing recreational marijuana; implementing popular gun safety reforms; providing legal refuge for trans youths; enacting laws that expand paid family and medical leave; banning noncompete agreements; providing universal public school meals; free public college education for households with income less than $80,000/year; and capping the price of insulin in Minnesota (years before Biden was able to do so nationally.)

That alone is a virtual laundry list of both top progressive aims and popular policies that could be implemented at a national level. So, will a Harris-Walz administration be able to move such policies forward if elected in November? And what else do progressive activists hope to see from a new, Democratic administration?

We're joined today by ALAN MINSKY, Executive Director at Progressive Democrats of America, in advance of the group's 20th Anniversary Progressive Central gathering in Chicago this week ahead of the Democratic National Convention. Sen. Bernie Sanders will be keynoting the two-day gathering, co-hosted by a number of other progressive organizations and publications, with a speakers list featuring a huge list of progressive members of Congress, activists, and journalists.

So, how do progressives feel heading into next week's DNC after nearly four years of the most progressive Presidential administration in decades; an historic, month-long political whirlwind; and a brutal year of protests against Israel's horrific response in Gaza to last year's attack in Israel by Hamas? Minsky and I discuss the "turbulence" and "high stakes" of the moment, and the revelation, for much of the nation, that progressive policies are the popular ones.

"Progressive policies directly address the interests of the average household," Minksy explains, citing "four massive ticket items that just block people from achieving the American dream" so they "don't have to work three jobs to make ends meet."

Those four blocks, he explains, start with childcare. "It's almost prohibitively expensive to have a child in this society". And then the cost of higher education. "You get out with a degree, and you face housing costs, either rents or mortgages, both prohibitive for building anything like the kind of financial security that you want to have. And then, finally, of course, healthcare costs overwhelmingly shredding the finances of people and families late in life."

"Again, only progressives on all four fronts have clear policy solutions to each of those prohibitive costs that American families meet," he tells me, adding, "And these are practiced around the world in other countries, available for us to pursue. They're not radical ideas. They're commonsense ideas."

"The other thing progressive are willing to address that the other groups are not, because they just accept that it's there, part of the wallpaper of American society, and that's the clear spaces in our society where there is deep, endemic poverty. The urban core, small town and rural America, deep poverty in indigenous communities, and still in the Southeast --- the former Confederate states --- most of that region is still tremendously poor. Only progressives address this."

There is more, much more to chew on in our conversation, including the way disparate elements of the left can come together to achieve solutions to these issues, and how to "persuade a Harris-Walz Administration and their economic advisors that the way forward is to go further on those four big ticket items."

"Only the United States has a latent group of about 100 million people who can be lifted up, by very well understood mechanisms, into the middle class," observes Minsky. "When that happens, that is an economic boom."

As to the vibes on the ground in Chicago, where some progressive organizations are planning to protest the Biden-Harris position on Israel? "Free speech society, open society, that's where I want to live," says Minksy, before adding, in reference to the violence at protests at the DNC in the Windy City almost 60 years ago: "Chicago doesn't feel like it's 1968. It just doesn't. There will be notable actions. But, as much passion as there is out there, I don't think it's quite broadly at the level of what was going on in the country during the Vietnam War in 1968." We'll see if he turns out to be right about that.

Finally, Desi Doyen joins us for our latest Green News Report, as another storm, Hurricane Ernesto, spins up virtually overnight in record warm Atlantic waters and the U.S. Forest Service finally tells the freeloading Arrowhead Springs bottled water company to get lost and stop its near-century long theft of California's water for profit...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

Our initial plans for today's BradCast were somewhat sullied by the disgraced former President's last minute announcement of what he called a "press conference" down at his resort home this afternoon. But he's also somewhat sullied the last 10 years or so of life in America, so we should be used to it by now. [Audio link to full show follows this summary.]

Among our coverage today...

• Donald Trump spewed a remarkable tsunami of lies and nonsense during an hour-long presser this afternoon, stacked with questions from mostly rightwing media outlets. It was ostensibly called to announce he had "agreed" to three Presidential Debates in September on Fox "News", ABC News and NBC News, and for a Vice-Presidential debate moderated by CBS News. The only one of those actually confirmed or agreed to by his opponent, as of air time, was the one on ABC that had long been agreed to by Kamala Harris, even as Trump had previously tried to duck out of it. We share just a few of his many weird lies told today, most of them stale and/or hilarious. Beyond that, we were just happy to see that his right ear (as seen in a close-up at right, from the photo above, taken today at Mar-a-Lago) appears to have healed up so well that it almost looks as if he had never been shot at all by a bullet from an AR-15 military-style assault rifle just over three weeks ago.

• Trump's Vice-Presidential running mate, J.D. Vance, is a piker when it comes to spewing ridiculous lies and nonsense, compared to his running mate. But he's working on it. And he was happy, over the weekend during a rally in Atlanta, to repeat several of the lies Trump and Fox 'News' love to tell. Among them, that Kamala Harris wants "to take away your gas car" and that "she even wants to take away your ability to eat red meat." Both are complete fabrications, of course, and we might have let them slide, but for his claim that "the fake news will fact check. They'll fact check it 'true'. She actually said that." We're not fake news, of course, but that Vance/Trump lie has already been fact-checked. I don’t know how to couch this, nor cushion the blow for Vance, but, as it turns out, it's not actually true in the slightest.

• Then there are the Vice-Presidential candidates, like MN Gov. Tim Walz, who has this annoying habit of telling the truth about stuff. It doesn't give us much to fact-check, but it does free up time to learn about the possible future Veep by sharing some fantastic video from 2022, in which he explained how to fix a burnt-out headlight harness from his 2014 Ford Edge with a $7.99 part from NAPA Auto Parts ("Just clip off the back, use some shrink-wrapped connectors on there, tape it back together and put it back in. It's about a five-minute fix and you're back on the road safe and sound.") And some rousing remarks from State of the State Address in 2023, before the passage of a slew of popular gun safety measures in MN like red flag laws and universal background checks. ("The time for hiding behind 'thoughts and prayers' is long gone. What we need is action and we need it now! So here's what's gonna happen: We've got a gun safety bill on the table, and we're gonna get it passed, and I'm gonna sign it." And they did and he did.)

• The polls continue to surge for Kamala Harris since she took over at the top of the ticket just over three weeks ago. With most of the major polling averages (538, NYT, RealClearPolitics) now putting her up over Trump nationally by give or take 1 or 2 points. That's a huge swing from where Joe Biden was polling just before he dropped out and endorsed Harris. But for a separate indication of how things are going for the Harris-Walz ticket, the UK betting site Oddschecker observed today, that "For the first time since Kamala Harris stepped in for Joe Biden, she has overtaken Donald Trump as the betting favourite to win the US election. A wild swing in odds over the past three weeks." That's all great news for democracy fans, of course. But, as Desi likes to warn (and as a listener reminds us via email today), neither the polling numbers nor betting odds take the GOP's plans to "suppress the vote and contest the vote" by blocking certification into full consideration.

• Finally, Desi Doyen has our latest Green News Report with news on Hurricane Debby coming back to the Carolinas today for a catastrophic second helping, and on Dem VP candidate Tim Walz' proven record as a climate champion, having adopted, as Minnesota's Governor, nearly 40 "cutting edge climate and clean energy laws and policies" that could be seen as a national policy template, as he cast "the fight against climate change" in his state "as an economic win for residents and an imperative for the state's children"...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

We've got a flood of news on today's BradCast. Unfortunately, some of that reference is also literal. [Audio link to full show follows this summary.]

Among our many stories today...

• Last week's primary elections in Tennessee (which they hold on Thursdays in the state, because they hope voters don't turn out for them!) saw state Rep. Gloria Johnson win the Democratic nomination for U.S Senate to run against the far-right Sen. Marsha Blackburn. Johnson was one of the "Tennessee Three" who state GOP lawmakers tried to expel after Johnson and two others state Reps participated in a gun safety protest on the House floor following a deadly mass shooting at an elementary school shooting in Nashville. Johnson, who is white, was spared expulsion by one vote. Her two colleagues, Reps. Justin Jones and Justin Pearson, both black, were expelled (though were subsequently returned to the House by their local constituents).

• Hurricane Debby made landfall in the Big Bend region of Florida Monday morning, just 20 miles or so from where Hurricane Idalia came ashore less than a year ago. Desi Doyen joins us with details on the storm surge and catastrophic flooding that is expected in Florida, Georgia and South Carolina as the storm moves to the north painfully slowly. She also explains why these disasters are made worse and more frequent thanks to man-made climate change.

• Also today, Wall Street weathered its own storm, as investors have begun to panic that the U.S. could be headed into a recession and/or that the Federal Reserve waited too long to lower interest rates. In Japan on Monday, investors really panicked, as the Nikkei 225 plunged more than 12%. The major U.S. indexes, however, "only" fell by about 2 or 3% today. Still, it was a bloodbath. We'll see what tomorrow brings.

• After a months-long pause, Donald Trump's federal indictment for his several failed attempts to steal the 2020 election returned to the D.C. court of U.S. District Judge Tanya Chutkan. The pause was thanks to the U.S. Supreme Court's absurd ruling that Presidents enjoy immunity from most crimes they carry out while in office. That ruling, of course, though contrary to any non-corrupt reading of the Constitution, could still further derail the case. For now at least, after receiving the case back on Friday, Chutkan issued several rulings almost immediately over the weekend, finding mostly against the Defense in several outstanding motions. The case is, nonetheless, not expected to come to trial before this November's Presidential election, since her eventual rulings in regard to "presidential immunity" will almost certainly need to make their way back up to the corrupted SCOTUS.

• In breaking news shortly before airtime today, Arizona Attorney General Kris Mayes announced that she was dropping charges against Jenna Ellis after the former Donald Trump attorney agreed to cooperate with prosecutors against her 18 co-defendants. They were all charged earlier this year with fraud, forgery and conspiracy related to the Republicans 2020 fake electors plot in the state. Among those charged along with Ellis and still facing indictments are former Trump attorneys Rudy Giuliani and John Eastman, as well as his former Chief of Staff, Mark Meadows. This could be very bad news for all of them.

• Also today, the corrupted SCOTUS did the right thing for a rare change in declining to halt Donald Trump's sentencing on 34 felony crimes in New York related to his successful scheme to cheat in the 2016 election by paying hush-money to a porn star with whom he was said to have had a sexual tryst. Trump's criminal sentencing will now move forward --- unless something else derails it again (which is always a good possibility) --- next month on September 18th.

• Over the weekend, Donald Trump backed out of the Presidential debate he previously agreed to participate in next month, as moderated by ABC News. He is proposing that he and all-but-certain Democratic nominee Kamala Harris debate before a live crowd on Fox "News" instead. The New York Times' coverage of that news over the weekend was wildly misleading and subsequently changed to eventually become accurate.

• In Virginia last week, a machine recount determined that far-right Republican state Sen. John McGuire did indeed defeat the far-right Republican Chair of the far-right House Freedom Caucus, Rep. Bob Good, by just over 300 votes out of some 63,000 cast during the GOP's June state primary. Good, a 2020 election denier, ultimately abandoned his evidence-free claims of massive fraud via drop-box and conceded the race to McGuire.

• Down in Venezuela, Socialist Party strongman Nicolas Maduro still refuses to release election results from tens of thousands of polling places after the nation's Presidential election just over a week ago. The National Electoral Council --- heavily stacked with Maduro loyalists --- announced on Election Night that Maduro defeated opposition leader Edmundo Gonzalez by about 7 percentage points. Both the U.S. (a longtime Maduro adversary) and Maduro allies such as the leaders of Brazil and Columbia, have called for Maduro to release all precinct-based results from the election. Without the ability for the public to oversee the full results, however, analysts are citing the limited number of Election Night precinct results tapes obtained by opposition-aligned groups from about 1,000 polling sites. Separate analyses of those poll tapes --- by New York Times, Associated Press and Washington Post --- suggest that Maduro not only didn't win by 7 points, he appears to have lost to Gonzalez in a 20-point landslide. We specifically detail the convincing NYTimes analysis and explain how Maduro could refute their findings by simply releasing the data that the voting public deserves to see. Democracy relies on the ability of the public to oversee its own elections. A fact that is equally true here in the U.S.

• While we ran long with all of today's breaking news, we still had time for a caller or two, one of whom who clearly hates democracy --- and is, apparently, no fan of me either!

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

Today on The BradCast we try and nip another completely false, outrageous rightwing Zombie Lie in the bud before it eats too many brains and becomes canon in the Wingnut Multiverse. Wish us luck. [Audio link to full show follows below.]

But first, a few news items today...

• Extreme, climate change-fueled weather is now pretty much just exploding everywhere. Today, the two latest chapters: a pair of deadly wildfires in New Mexico and "A" is for "Alberto", the first named storm of what is expected to be an exceptionally busy and intense hurricane season given the unprecedented record warmth of ocean waters. This particular storm, in the Gulf, appears to be heading toward Mexico, though its already grazing parts of Texas with a ton of water.

• Tuesday's Congressional Primary elections in Virginia, Oklahoma and Georgia appear to have gone off smoothly enough for now, with the biggest story coming out of Virginia in the Republican primary for the 5th U.S. House District. Far-right Freedom Caucus Chair Rep. Bob Good was thought to be all but done for, as he was targeted by both Donald Trump (because Good dared to support DeSantis in the Presidential Primary) and former House Speaker Kevin McCarthy (because Good was one of eight Republicans who voted him out of the job earlier this year.) An even farther Right, well-funded state Senator by the name of John McGuire was set to easily unseat Good, and still might. But, as of airtime, there are just 321 votes between them out of more than 62,000 tallied to date. Counting of late mail-in will resume tomorrow between the two election deniers following a break for today's Juneteenth federal holiday.

• And, down in Louisiana today, far-right lawmakers and the state's new far-right Governor Jeff Landry have decided they don't care much for the U.S. Constitution's establishment clause, and have decided to mandate that the Ten Commandments must be posted in every public elementary, middle school, high school and college classroom in the state. That'll show those U.S. Constitution loving heathens! The effort is obviously an attempt to bring the matter to the U.S. Supreme Court in hopes that its corrupted rightwing majority will overturn decades of precedent respecting the separation of church and state. And I bet they will.

THEN... Last September, California's Democratic Gov. Gavin Newsom signed a new state law to increase the minimum wage for fast food workers at national companies with more than 60 stores from $16/hour to $20/hour. Before it even took effect on April 1 this year, Rupert Murdoch's rightwing media outlets (Wall Street Journal, NY Post, Fox "News") were working overtime in cahoots with an outfit calling itself the California Business and Industrial Alliance (CABIA) to claim that thousands of fast food jobs had already been cut after Newsom signed the bill into law.

A UCLA Economics Professor by the name of Lee Ohanian either went along with it or fell for it, detailing the supposed massive job loss in an article at the right-leaning policy think-tank called the Hoover Institution, part of Stanford University, citing WSJ's misleading employment statistics. It all offered a nice academic patina to the (false) claim that nearly 10,000 fast food workers had been laid off between last September and January, thanks to Newsom and California's Marxist policies.

CABIA then happily cited the "Hoover Institution" in a full-page advertisement in USA Today earlier this month, a mock obituary declaring "In Memoriam: Victims of Newsom's Minimum Wage". The ad cites Hoover for its claim that "nearly 10,000 fast-food jobs" were lost "after $20 minimum wage signed last fall." The ad details all the hard times for poor McDonald's, Burger King, Pizza Hut, Subway, Rubio's California Grill, and about half a dozen others. All victims of California's impossible idea that people who work should receive a living wage in exchange.

Turns out, as our guest today, Pulitzer Prize-winning business journalist and author MICHAEL HILTZIK reports at the L.A. Times, the claim, the statistics used and the entire argument put forth by WSJ, NY Post, Fox "News", CABIA and Hoover is all "baloney, sliced thick." And Hiltzik has the receipts from the U.S. Bureau of Labor and Federal Reserve to prove it.

In fact, Hiltzik details, as it turns out, fast food employment actually went up from last September to this past January --- when using seasonally adjusted figures --- and even continued to go up after the law took effect on April 1, with employment in the sector outpacing April of 2023 (apples to apples!) by nearly 7,000 jobs.

"What we're dealing with here is the misuse of employment figures by essentially using non-seasonally adjusted figures, rather than what CABIA and the Wall Street Journal should be using, which is seasonally-adjusted," Hiltzik tells me, describing the scam. "When you have an industry in which employment fluctuates during the year for seasonal reasons, you have to use seasonally-adjusted figures. That's the case with fast food restaurants. Everyone in the restaurant industry knows this. Employment in restaurants peaks in September, year after year after year. You have to compare each month to the same month in other years, and that's why the Bureau of Labor Statistics says that, in fact, employment in the sector in California went up compared to the same earlier period."

"Any economist knows that you absolutely must use seasonally-adjusted figures. The Wall Street Journal didn't seem to know this, even though they're supposed to be experts in finance and the economy," he scoffs.

Hiltzik describes the Murdoch/CABIA/Hoover sleight-of-hand as "fabricated" and "false", and we discuss why it's happening --- an has been nationalized --- in the first place. He also debunks the lie that Rubio's Grill has had to close 48 stores across the state thanks to CA's new leftist law. (Spoiler: It was private equity, not the $20 min. wage, that dunnit.)

For the record, though Ohanian, the UCLA professor who laundered the Journal's purposely misleading numbers at the Hoover Institution, admitted to Hiltzik that he got it wrong, his April 24, 2024 article is still posted there without correction or retraction...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

Even Joe Biden is now making jokes about the plummeting value of the former President's latest scam, his attempt to turn his failing social media site into a Wall Street meme stock. As discussed on today's BradCast, it ain't working. At least for now. [Audio link to full show follows this summary.]

The value of Trump Media & Technology Group, trading under Donald Trump's initials as DJT, has lost about two-thirds of its value since it debuted as a publicly traded stock at the beginning of the month. If it "drops any lower," Biden quipped at a rally in Pennsylvania today, Donald Trump "might do better under my tax plan than his."

When it first went public, DJT quickly shot up to nearly $80 per share. It has been nose-diving by double-digit percentages pretty much every day since. The stock closed on Tuesday at less than $23 a share. On Monday night, the Washington Post's Drew Harwell posted a piece that is nearly equal parts hilarious, for those who enjoy the schadenfreude of Trump losing billions of theoretical dollars in just a few weeks time, and heart-breaking, for those who feel for the hundreds of thousands of Trump fans who have lost, in some cases, their "whole nest egg" because they were brain-poisoned enough to buy into Trump's latest fraudulent scheme.

Harwell's report of the reaction to the plummeting value of the stock by Trump supporters themselves on Truth Social, the money-losing venture that is currently DJT's only actual business, is harrowing and amazing. (But just more evidence of the "deep state", if you believe some of the denialists who are still buying more shares every day now!) But it serves as yet another reminder that, as sick as Trump is, it is our nation itself, and its people, whose illness we must eventually figure out how to attend to.

Anyway, tune in to today's show for many more thoughts on the above, and a whole bunch of other news of the day, including...

• Trump's recent Truth Social video rant on how Presidents simply can't do the job of Presidenting without absolute criminal immunity, the way the Founders wanted it. Then again, there is no evidence that the Founders wanting anything of the sort (quite the opposite, in fact); every President of the United States before (and since) Trump has been able to function just fine without it; and --- oh, yeah --- as Trump said in a separate rant just one day earlier, apparently "Crooked Joe Biden...can't put two-sentences together" but has been clever enough to mastermind all four of Trump's current criminal indictments in two different states and two separate federal jurisdictions, all without leaving a trace of evidence. "At what point are the actions of a sitting President...against his opponent for election interference considered illegal?," Trump asked. But, according to Trump just one day earlier, even if the President had anything to do with Trump's criminal indictments (he doesn't) it would still never be illegal!

• The disgraced former President's criminal trial in New York, on 34 federal counts related to hush-money payments to a porn star to help him win the 2016 election, seems to be moving faster than expected. On Tuesday, seven jurors were selected on the second day of the trial. Just five more jurors and six alternates are needed before opening statements can begin, perhaps as early as the beginning of next week.

• On Tuesday, House GOP lawmakers finally delivered their two articles of impeachment against Dept. of Homeland Security Secretary Alejandro Mayorkas to the U.S. Senate, where the high-crime-and misdemeanor-free charges are expected to die either very quickly or somewhat less quickly, in an impeachment trial that, according to the rules, must begin immediately and continue until complete. Good thing there is nothing else Congress needs to be doing right now.

• The far-right conspiracy outlet known as One American News (OAN) has reportedly struck a confidential settlement with voting system vendor Smartmatic, in the defamation lawsuit brought against the Trump-supporting TV channel for lies told about the company's voting systems following the 2020 election. Despite repeated false claims by OAN anchors and guests that Smartmatic software was used "in 30 states" to steal the election for Biden --- with zero evidence in support of those claims --- the company's voting systems are only used in one U.S. jurisdiction: here in Los Angeles County, where even brain-poisoned MAGA dupes aren't dumb enough to claim the election was stolen from Trump.

  For the role that we personally played in confusing Sidney Powell, Rudy Giuliani, and the OAN clowns regarding Smartmatic's role in U.S. elections, I can only say: "You're welcome!"

  The terms of the settlement are undisclosed, but it follows on last year's $787 million settlement between Fox "News" and Dominion Voting Systems over similarly false claims, as well as a settlement between OAN and a former Dominion executive. There are many other similar defamation suits still pending, however, by both Smartmatic and Dominion over lies told about them following 2020 by other well-known Trump conspiracists.

• Finally, Desi Doyen joins us for our latest Green News Report, with several pieces of pretty cool news littered amidst a number of terrifying climate crisis omens...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

We couldn't keep up with everything as it kept breaking all day and throughout today's BradCast. But we tried. Even while welcoming back one of our favorite guests. [Audio link to full show follows this summary.]

We're happy to joined once again today by Slate's top shelf legal journalist, the great MARK JOSEPH STERN, who is now back from his recent parental leave. (That, thanks, in no small part, to an excellent contract by his union, the Writers Guild of America!) And, while we had previously planned to talk with Mark today about far-right Trump appointees to the lower federal courts undermining voting rights and even the Supreme Court itself, the news just kept coming today out of SCOTUS. Thankfully, Stern was here to hold our hand through it all.

After indicating earlier this week they were prepared to move quickly in response to Special Counsel Jack Smith's request for an expedited hearing on Donald Trump's ridiculous appeal regarding Presidential Immunity, the Supremes announced on Wednesday they would be taking up a challenge to the federal law used to charge hundreds of January 6 insurrectionists, including Trump himself. Two of the four charges he is facing in his federal election interference case are related to unlawful obstruction of an official proceeding. But a lower federal court Trump judge, Carl Nichols, has decided those obstruction charges --- adopted by Congress as part of the 2002 Sarbanes-Oxley Act, focused mostly on white-collar crime --- are inappropriate for use against J6 rioters.

What will that mean for the pending charges against Trump and his trial currently scheduled for March 4 next year? Stern describes it today as "a troubling development", if only because "there wasn't a significant dispute over the interpretation of this particular statute" which has been used to convict hundreds of J6 attackers. While he explains that it is not necessarily fatal to either Smith's indictment against Trump in D.C. or the ability for U.S. District Judge Tanya Chutkan to complete the trial before next year's election, Stern regards it as "an ominous sign for those of us who wanted Chutkan to be able to move forward on her own timeline."

Nonetheless, it is, once again, another example of a lower court Trump judge "try[ing] to wield their power in aggressive and truly unprecedented ways." That similar effort to go "beyond the judicial power to essentially act as a free-floating veto over any Democratic policy, and trying to smuggle in Republican policies under the guise of judicial review," as Stern characterizes it, was similarly on view today as the High Court also announced plans to hear a challenge to the use of the widely prescribed abortion drug Mifipristone. That, after abortion opponents filed their case specifically so that it would be taken up earlier this year by Trump-appointed anti-choice activist Matthew Kacsmaryk, the only U.S. District Court Judge in the Northern District of Texas.

But where the "dead hand of the Trump Administration," as a recent article by Stern describes it, may be most troubling is in a series of recent rulings by Trump judges focused on undermining the Voting Rights Act, which is facing a tenuous moment at the stolen, packed and corrupted GOP-majority Supreme Court. Stern details three different recent cases --- one of them "almost too painfully stupid to explain" --- where jurists appointed by Trump in the lower courts are targeting and/or undermining the landmark civil rights law, even in violation of both long-standing SCOTUS precedent and very recent opinions by the High Court.

But, the news just kept on breaking today. Chutkan declared that Trump's Jan. 6 case would have to largely be "paused" until Trump's ridiculous immunity appeal is resolved, further imperiling next year's scheduled March 4 trial date.

The Dow hit a record high on Wall Street, as investors became jubilant at news from the Federal Reserve that it is likely to finally begin lowering interest rates next year --- even more aggressively than previously expected.

The 200 nations meeting in Dubai for the U.N.'s COP28 finally came to an agreement on their final statement after this year's climate conference. They deigned to mention the phrase "fossil fuels" for the first time ever. But more on that (hopefully!) tomorrow.

And the GOP-controlled U.S. House of Representatives, in a strict party-line vote, adopted a resolution to officially open an impeachment inquiry against President Joe Biden for...well...something or other. It remains unclear.

In truth, it's a revenge impeachment inquiry meant to placate the disgraced, twice-impeached former President, and to distract from the many failures of a corrupted, dysfunctional GOP-run House in advance of next year's elections. The vote was held on the same day that Republicans again refused to accept Hunter Biden's offer to testify in a public hearing. He had a few words about that for assembled media on the U.S. Capitol steps earlier today...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

Ten years ago, a BradCast like today's would have been unimaginable. Today, it's just our latest BradCast. [Audio link to full show follows below this summary.]

Among our many stories covered (some of which we've been trying to get to all week but for all the breaking news that kept bumping them!)...

• The former President of the United States pleaded "not guilty" to felony crimes in his third arraignment in four months. This one at the federal courthouse in D.C., on four alleged charges [PDF] brought by Special Counsel Jack Smith related to Donald J. Trump's failed conspiracies to steal the 2020 Presidential election before, during and after his January 6, 2021 insurrection. Defendant Trump was reportedly warned by the magistrate judge overseeing his arraignment about committing more crimes, tampering with jurors or communicating with co-conspirators while he was freed pending trial.

• Congressional Republicans still pretend they are "fiscal conservatives". Shamefully, the media still allows them to do so. But their brand of "fiscal conservatism" is, once again, costing the Government and American people untold billions. This week, the Fitch Rating service downgraded the U.S. credit rating from top tier AAA to AA+, citing principally the GOP's recent brinkmanship threatening to allow the U.S. government to default on its debts for the first time in history, and even due to the January 6, 2021 attack on the U.S. Capitol. The newly lowered credit rating led the stock market to dive in response, is already increasing the cost of government borrowing and mortgage rates for homeowners.

• On Tuesday, the state Supreme Court in Wisconsin officially flipped to a liberal majority for the first time in about 15 years after the election of Milwaukee Judge Janet Protasiewicz to the high court back in early April. The new era in the critical Presidential battleground state comes not a moment too soon, as Republicans in the gerrymandered state Senate are attempting to oust Elections Administrator Meagan Wolfe from the state's Election Commission after unanimously appointing her four years ago. When Trump lost the state in 2020, state Republicans decided the experienced administrator who has successfully overseen thousands of state election jurisdictions and is well-respected by clerks and experts of all parties, had cheated --- or didn't cheat enough --- or something. And now, amusingly, Democrats on the Election Commission are citing a ridiculous, 4 to 3 opinion by the state Supremes from last year, when the court had a rightwing majority, which allowed agency heads to remain in place after their term had ended. (The ruling was meant to support a sleazy GOP scheme to prevent Democratic Gov. Tony Evers from being able to appoint his own nominees to state agencies.) The 2024 election in the critical battleground state now hangs in the balance and may --- or may not --- as Bolt's Cameron Joseph reports, lead the Court's liberals to change their position on the issue when this matter, almost certainly, makes it's way to the newly liberal high court.

• Michigan's failed 2022 Republican candidate for Attorney General, Matt DePerno, was indicted this week along with a former GOP State Rep. on state charges related to accessing and tampering with voting systems. The Trump-endorsed Matt DePerno was a 2020 election denier already under investigation for the alleged crimes when he was nominated by his party to become the state's top law enforcement official last year. State Attorney General Dana Nessell then referred the probe to a Special Prosecutor who brought charges this week against DePerno, former State Rep. Daire Rendon and, as we've learned since getting off air, GOP attorney and Trump ally Stefanie Lambert. The Special Prosecutor, D.J. Hilson, suggests more charges are likely coming as part of a scheme by the MAGA Republicans to take voting system tabulators from several counties in order to "test" them for...something or other. Lambert and four others targeted by the probe, also participated in the breach of sensitive voting system hardware and software in Coffee County, Georgia, a story which we broke on this show last year and have been covering in detail ever since.

• Speaking of Georgia, election deniers, voting system breaches and GOP attempts to steal the 2020 election, Fulton County District Attorney Fani Willis, over the weekend, said she is "ready to go". She made the remarks to a local news outlet, suggesting she will be bringing indictments in her broad conspiracy probe of Team Trump's failed attempt to steal the Peach State's 2020 election "before September the first of 2023". Willis recently warned County officials to "stay alert" and keep staffers "safe" as barricades have now been erected around the County Courthouse in anticipation of new indictments. In her warning to County Commissioners, she shared a sample of the appalling, racist threats her office has received recently. All signs suggest that Trump --- and perhaps many others --- are about to be indicted in her probe. It would be Trump's fourth such criminal indictment in the past four months. We told you long ago accountability would be coming. Now, it finally is. Bigly!

• Finally, Desi Doyen joins us for our latest Green News Report, with a climate in crisis that couldn't care less about politics. A new study finds that man-made climate change is getting very costly for small businesses; record high temps are, ironically, forcing the shut down of oil refineries and raising gas prices in the bargain (neat trick, eh?); and, speaking of Georgia, the state has finally opened the nation's first new nuclear plant in decades. It is already costing state ratepayers a lot more money...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

With unspeakable devastation from Florida to Ukraine, the stakes couldn't be higher for our upcoming midterm elections. We cover all of that on today's BradCast, even while tending to some long overdue accountability and grotesque conflicts of interest in Congress. [Audio link to full show is posted below this summary.]

The horrifying death toll from last week's climate change-fueled Hurricane Ian continues to rise. More than 100 were confirmed dead in Florida alone as of airtime. That number is likely to keep growing, along with the growing questions about why state officials did not call for evacuations before they finally did. Put those questions into the same file that may explain the state's years of climate crisis denial and its now collapsing insurance industry.

At the same time, corrupt authoritarian regimes elsewhere are similarly ill-serving their citizens. We get caught up a bit today on Russia's sham referendums and unlawful annexation of four regions in eastern Ukraine last week. That, as Russia's military offensive continues to collapse and lose ground to Ukrainians defending their sovereign homeland; as Vladimir Putin faces growing unrest after announcing the forced draft of hundreds of thousands of Russians; and as he continues to threaten the use of nuclear weapons as his political and military fortunes devolve.

Then, we move to Brazil, where far-right President Jair Bolsonaro lost in the first round of voting on Sunday to the nation's former leftist President known to the people simply as "Lula". While Lula defeated Bolsonaro over the weekend, neither candidate received the votes necessary to avoid a run-off later this month. Lula's victory was much narrower than expected based on pre-election polling showing that he was likely to defeat Bolsonaro by about 14 points. He won by just less than 6 points in what should serve as another object lesson for U.S. voters before our own critical midterm elections in just 35 days.

Next, we're joined by longtime government affairs and ethics lobbyist CRAIG HOLMAN of Public Citizen to discuss the Combatting Financial Conflicts of Interest Act that he had hoped to see passed in the House before next month's midterms. Holman helped shepherd passage of 2012's STOCK Act. It was hoped that the decade old measure --- requiring immediate disclosure of stock trades by members of Congress and ending their exemption from insider trading laws --- would shame members into avoid conflicts of interest when trading stocks in companies which they also oversaw in Congressional committees.

As Holman details today, the STOCK Act failed in that regard for several reasons. As a New York Times analysis found last month, at least 97 members of the House and Senate, of both parties, continue to hold stocks in companies that they oversee on Congressional committees. But it is hoped that the new measure will end that as well. It would bar members and their direct family (spouses and children) from buying and selling stocks at all, and require them to divest their portfolio entirely or place such assets into blind trusts.

"Prior to the STOCK Act in 2012," Holman explains, "insider trading was illegal for you and I and Martha Stewart, but it was perfectly legal for members of Congress. And they were making use of it. There was one economist who came out with a study that showed members of Congress enjoy a 12% higher rate of return than the rest of us on the stock market. Which means either they're geniuses at trading in the stock market, or they know something that we don't know. Quite obviously, it's the latter."

While the STOCK Act did reduce members' trading in stocks by about two-thirds, he says, the other third "are still out there trading. They are sitting on the same committees and in their same official capacities overlooking the same businesses that they're buying and selling stocks in."

The new bill, however, would finally end those bipartisan conflicts of interest, and/or the appearance of same, once and for all. But, Holman also explains how the bill he had hoped to see passed by both chambers before this year's midterms was derailed last week He tells us whodunnit and how he hopes to see the measure adopted nonetheless in the lame duck session after the elections. Here's hoping!

Does Holman have any concerns that this new law would prevent qualified folks from running for Congress in the first place? "Not on my end," he responds. "That is one argument that you always run into. But, quite frankly, if you've got a huge financial conflict of interest with your official duties of serving in Congress, I don't want you here. If you're not going to get rid of that conflict of interest, you pose more of a threat to the integrity of our legislative process, no matter how competent you are."

Finally, President Biden visited Puerto Rico on Monday in the wake of the devastation of Hurricane Fiona (the storm that took out power across the island, yet again, just two weeks before Ian's devastation in Florida). He didn't throw paper towels at residents, as the former guy did following Hurricane Maria, though he did vow to help get their infrastructure back up and hardened to withstand many more of these storms that will be coming their way as the climate crisis worsens. We share some of Biden's remarks today...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

Today on The BradCast: Sure, the supply chain was, and occasionally still is, a problem. So is Russia's war on Ukraine, obviously. But it's the greed of billionaires and the cowardice (or corruption) of public officials to do anything about that greed in this country that must be turned around in order to save the U.S. [Audio link to full show is posted below this summary.]

But, first, speaking of corruption...New numbers out today from the Labor Department suggest that inflation may have peaked before April. As the Times alerted today, "Inflation moderated slightly in April, though the 8.3% annual gain in U.S. consumer prices remained uncomfortably high." As AP trumpeted in its breaking news iPhone alert: "U.S. inflation slowed slightly last month, a tentative sign that prices may be peaking while still imposing a financial strain on American households." Reuters: "U.S. consumer price growth slowed sharply to 0.3% in April, suggesting that inflation may have peaked." They were all similar....Well, except for Fox "News": "Inflation higher than expected in April, holding near 40-year high."

And you wonder why Rightwingers are so angry? It's still the Fox "News", stupid.

And speaking of stupid...Midterm primaries were held in Nebraska and West Virginia on Tuesday. (Happily, unlike in Ohio last week, we saw no reports of voting problems or voting system breakdowns, so far.) As you may have noticed, pretty much every news report about Tuesday's results focused on what they mean for Donald Trump and his party and the candidates he endorsed. The incumbent U.S. House member that Trump endorsed in WV who ran for the GOP nomination against another incumbent U.S. House member who voted for Joe Biden's bipartisan infrastructure bill won on Tuesday. Kingmaker Trump's power over the party is still strong! But the 8-time accused sexual harasser that Trump endorsed and stumped for in NE's GOP Gubernatorial primary lost. Trump's influence may be faltering!

As we discuss today, that framing by the corporate media --- reporting on these critical elections through the lens of Trump --- is wildly unhelpful and ill-serves the public at a time when democracy itself is on the line this November (and in 2024). It's not about Trump. He's already captured and broken the party. And that is true if he drops dead tomorrow and Ron DeSantis --- or anyone else --- takes his place. The damage is done. So, how can we fix it? Much more on that on today's show.

And speaking of failures all around... as the nation's death toll from COVID hits a staggering 1 million... The nation's corporations and rich people are doing just fine, thanks.

Big Oil continues to raise prices at the pump for consumers by pretending that its caused by post-pandemic supply chain issues and the war in Ukraine, even as they continue to rake in record profits (not revenue, but profits) in recent months. The profiteering --- under the guise of supply chain-induced "inflation" --- is also seen in other industries, of course, including the food industry, as well as the apparel business. In their latest reports on the industry profiteering, Accountable.us President Kyle Herrig appropriately derides "the industries most unapologetic about charging their customers more during a fragile economic recovery, apparently just because they can." And they can, because we let them develop monopolies and near-monopolies so there is little or no price competition left in the "free market".

And then there are the the nation's 727 billionaires whose growth in net worth over the two-plus years of the pandemic --- while you were struggling to stay employed, housed and fed --- is up $1.71 trillion from March 2020 to May 2022. That's a gain of more than the entire annual GDP of Canada for just those 727 U.S. billionaires. The biggest winner seems to have been Elon Musk, whose personal wealth was valued at just under $25 billion in March of 2020. Now, after two years of a pandemic economy, his wealth is said to be $255 billion as of the beginning of this month.

How did that happen? Why did that happen? What can and should be done about it? And does anyone in D.C. --- any one, from any party --- have the courage and ability to lead the nation to do anything about it?

All of those questions and more are answered today by our guest, OMAR OCAMPO of the Institute for Policy Studies' Program on Inequality and the Common Good, who asks today, "What about the rest of us? The median income, comparing 2020 to 2021, for your average U.S. worker has actually decreased by $2,000. And our median household wealth, comparing 2019 to 2001, has actually decreased. So yes, when you look at it by income or wealth percentile, it has been the top 10%, but especially the top 1%, that have seen impressive gains."

Ocampo helps explain how it happened, and what steps can and must be made to reverse this obscene continuing trend. Among the policy ideas discussed --- several of which have long been pushed by members of the progressive caucus in Congress --- a wealth tax on the assets of the richest Americans; partial student loan forgiveness; establishing a federal Commission on Profiteering, empowered with the ability to claw back some of what has been robbed from American consumers; strengthening organized labor and democracy itself.

And, yes, he explains, that will mean voting for more Democrats in Congress and at all levels of government. Hopefully good ones. Or this is going to continue to get much, much worse.

"The Republicans, from an ideological perspective, they are not interested in having some type of government intervention in order to solve societal problems," Ocampo charges. "They normally pivot towards philanthropy. But now is not the time to pivot to philanthropy, mainly because philanthropy does not scale, and it also denies public accountability for social problems or things that have to deal with the public good. So issues that affect the public should involve public input, and it should be carried out by democratic institutions."

"Economic inequality translates into political inequality. And the greater your material resources, the greater your access to participate in the state," he tells me. "This is very detrimental to democracy, because it makes the democratic institutions unresponsive to what the majority wants. The majority wants increased taxes on the wealthy, but it never seems to happen. That's probably because of their influence they have on both political parties."

"Elections matter, and to alleviate, especially in the short term, it would be best to elect Democrats. Because there is a section of the Democratic Party, specifically those that self-identify as progressives, who care about wealth inequality and know that it has distorting effects across our whole society."

Finally today, speaking of things getting much worse... Democrats held a show vote in the U.S. Senate to codify abortion rights (the Constitutional freedoms about to be taken away by the stolen and packed U.S. Supreme Court) after the Women's Health Protect Act was already passed by Democrats in the House. As expected, all Republicans and Joe Manchin voted against it, so the measure failed to reach the 60 votes necessary to do almost anything in the undemocratic Senate.

And, also breaking during today's program, an insane, corrupted federal appeals court in California decided that the state's law restricting the purchase of semi-automatic firearms to those 21 or older is a violation of the Constitution's 2nd Amendment. So, yup, apparently 12-year olds in CA can now buy semi-automatic weapons! Have fun, kids!

Did I mention we need more democracy and fewer corrupted federal judges? Yeah, that also comes with voting. Please get busy. Thanks...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

Today on The BradCast: If you might otherwise expect a Senior Associate Dean at Yale University's School of Business Management to be a stodgy, rightwing, so-called pro-business conservative, think again. The one joining us today, naming and shaming major international corporations for continuing to do business with Russia even after their barbaric, nearly month-long destruction of Ukraine, is anything but. [Audio link to full show is posted below this summary.]

But first up today, very quickly, what you need to know about the deadly tornado swarm that slammed Louisiana and Texas overnight. It's just the latest in an increasingly long and violent string of climate change-fueled disasters slamming both states. Desi Doyen explains what climate scientists are learning about changes in tornadic weather as our climate crisis worsens in places like her old home state of Texas which, in recent years, has faced one such costly and deadly disaster after another (as the Republicans who control the state pretend fossil fuels have nothing to do with it.) From hurricanes to flooding to cold snaps that knock out power to the recent drought and wild fires which, at least last night's storms helped, in part, to have quelled a bit for now.

Next: Where is Clarence Thomas? The wildly corrupt U.S. Supreme Court Justice was admitted to the hospital last Friday, though the Court didn't announce it until Sunday, when their statement said he was being treated with intravenous antibiotics for an "infection" and "flu-like symptoms." The Court said on Sunday that the 73-year old Thomas would be out of the hospital by Monday or Tuesday. But, as of Wednesday, the Court had no comment on his whereabouts or his condition. Hmm...That, as Judge Ketanji Brown Jackson faced another ridiculous day of childish questioning from Republicans in her Senate Judiciary Committee confirmation hearings to replace Justice Stephen Breyer on the High Court.

Then, we're joined by Yale School of Management's Senior Associate Dean and Professor of Management Practice JEFFREY SONNENFELD for a very lively discussion of the more than 450 American and international corporations that have withdrawn partially or fully from Russia, and the smaller (but still substantive and extremely shameful) number of companies still doing business there during Putin's deadly siege on his sovereign neighbor.

Sonnenfeld and his team of colleagues and researchers at the school began by compiling a list of those companies who had pulled out of Russia shortly after Putin's invasion, and those that had yet to. That "Hall of Shame" list has since gained a great deal of public attention and, he tells us, has both helped to both encourage and shame CEOs into shutting their doors in Russia.

"We just had a session with 70 CEOs --- you're the first to know about this --- major CEOs across the face of American industry, with General Mark Milley, the Chairman of the Joint Chiefs of Staff," Sonnenfeld tells us. "And he did emphasize that they are working off our list. We're humbled by that, but we know that people on Wall Street and the activist community are using it" as well.

Since its initial creation, the list is now broken down into more specific categories, including companies that have announced a full "Withdrawal"; others which merely declared a "Suspension" of operations for now; those that are "Scaling Back" by reducing operations; and the two most pernicious categories of companies that are either "Buying Time" by postponing new investments while continuing substantive business or, worst of all, "Digging In" by defying all demands to leave or even reduce operations there.

While Sonnenfeld notes that the list remains "a moving target", with several companies see their rating changed even as we went to air (the fossil fuel services giant Halliburton was moved from the worst, "Digging In," to the second worst, "Buying Time" today, for example), you'll be delighted to know our friends at the rightwing dark money conglomerate Koch Industries and its crappy paper subsidiaries like Georgia-Pacific, are staying put with Team Fascist Dictator for now.

On the other hand, Sonnenfeld says that he was pleasantly surprised that a number of Big Oil companies, "not usually on the leading edge of social change," pulled out early on. But, he has a thought or two for companies like Dunkin Donuts, Nestle, Mars candy and, yes, the rightwing Koch Industries, which, for its part, says they are staying in Russia for what they describe as the "health, safety and wellbeing of all employees. Leaving, they assert, "would only put our employees there at greater risk and do more harm than good."

Koch also justified their decision by claiming they refuse to "hand over these manufacturing facilities to the Russian government so it can operate and benefit from them." Sonnefeld identifies that as closer to the real reason Koch doesn't want to leave. "It's so ludicrous, on every level," he tells me. "There are now millions and million of employees that used to work for Western companies" now out of work in Russia. If all of those companies pulled out, "there wouldn't be a shred of legitimacy for the government. It would make the revolution happen instantly." He argues Russia couldn't "round up fifteen million people and then figure out what to do with them because they're not working for Western companies anymore. It's ridiculous."

Even companies like McDonald's, which has at least done the right thing by shuttering its 850 stores in Russia, only gets a "B" grade on the list's second, "Suspension" category, as they continue to pay their workers there in hopes of returning. "It allows Putin and Putin supporters to say, 'This was just ceremonial, it's temporary. You don't need to worry, they're not really leaving, they'll be back.'"

When asked if the company should receive plaudits for helping to keep their from going hungry, Sonnenfeld is unimpressed. "Those 60,000 people should be out of work and in the streets. That's what people don't understand on this," he insists. "They say, 'Oh, innocent Russians aren't responsible for what Putin is doing.' Yes, they are! It's their complacency. Putin is in power, not because he is popularly elected. He rules because of this iron fist of being a murderous tyrant. To take that on you've got to go in there with warfare. If we don't want to do that, one thing we can do to help those innocent Russians is to at least get them angry to be part of a civil disobedience, to be part of a shutdown of civil society."

He cites "bloodless revolutions" elsewhere, charging that "if you freeze up the economy, then you get people angry, out on the streets, and they bring down the government. But to keep them complacent and comfortable, that does no good whatsoever."

While recognizing the lack of a free press in Russia at this point, Sonnenfeld also has little sympathy. "It's because they willingly don't want to know. It isn't just because they don't get a free press. When all their favorite brands shut down and they're out of work --- if all of these non-Russian companies say 'You're a rogue nation!' --- maybe they'll start to realize that what Putin is telling them, that he's trying to 'liberate' Ukraine, they'll realize that's not true."

As you might guess, Sonnenfeld, the author of many books and academic papers on business management, leadership, and corporate governance, has much more to say on this subject and on the many companies who have done what he sees as the right thing, as well as those he feels should be penalized by the American people for failing to do so.

You can view the list or download a searchable Excel version here. But, first, you'll want to tune in for today's very lively and colorful conversation with Sonnenfeld...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

It was a very lively BradCast today, even amidst horrible times. So there's that. [Audio link to full show is posted below.]

First up, Desi Doyen joins us for a too-brief summary of the latest report, issued today, by the U.N.'s Intergovernmental Panel on Climate Change (IPCC), warning that the world is running out of time to prevent the worst effects of climate change and even our ability to adapt to it. The new report is almost 4,000 pages, but at least she gets several minutes to explain all of it!

Similarly, we briefly discuss oral argument at SCOTUS today in which the Republicans' stolen and packed Court majority has, virtually out of the blue, decided to hear a challenge to Barack Obama's Clean Power Plan, even though it was never even implemented. The point here, by the newly far-right Court, is clearly to gut the Environmental Protection Agency (EPA)'s regulatory power, despite meeting their mandate for decades to institute regulations that protect the environment and Americans within it. This latest gambit by the Court is akin to their recent move that blocked OSHA's ability to regulate safety in the workplace with a vaccine mandate. Make no mistake: The U.S. Supreme Court is gutting Executive Branch agencies ability to do their job. It is the final step of the GOP's long effort to "deconstruct the administrative state," as many, such as Steve Bannon, have long vowed.

Next, it's on to the latest news in Russian President Vladimir Putin's horrific, appalling, inexcusable war on 41 million innocent men, women and children in Ukraine, after he issued yet another veiled threat over the weekend to use nuclear weapons.

On the upside, peace talks between Ukraine and Russia took place over the past 24 hours, and are on pause as the representatives from both sides take early results of discussions back to their capitals.

In the meantime, the world, at least the western world, continues to unify in opposition to Russia's aggression. The U.S. and 27 EU nations continue to institute more and more crippling financial sanctions against Russia, its banks, companies and oligarchs, despite the considerable costs that will be borne in response by those nations. Many of them, including the U.S. are also sending more weapons to help Ukrainians defend themselves from a slower-than-expected, but still very deadly, assault by Russia, including with the use of cluster munitions deployed to densely populated urban neighborhoods. Germany is upping its commitment to NATO. Finland is considering joining. Even Switzerland(!) has reversed decades of neutrality to freeze Russian assets. Oil companies BP and Shell have announced they are dumping their considerable stakes in Russia's state-owned oil and gas companies (though we're still waiting on Big Oil companies in the U.S. to do the same.) The NYSE and Nasdaq announced they are halting trading of Russian-owned companies.

Russia's appalling aggression has, it seems, united much of the free world against them. So why are there actually some on the American left --- the theoretically anti-war left --- who seem unable to condemn Russia for their unprovoked atrocities? Even some folks who listen to this program?

We have covered in detail many of the legitimate complaints Russia has long had against NATO and the U.S. We have long been, in fact, sympathetic to many of those complaints and have been critical of overly-hawkish Democrats (and Republicans). But when one nation launches a massive, deadly assault on a sovereign neighbor that posed absolutely no threat to them, all bets are off. Any benefit of doubt goes out the window. At least until they call off the attacks and withdraw their troops.

As we noted last week after Russia began their assault (and again on Twitter over the weekend) we oppose naked aggression by nuclear-armed superpowers, whether its the U.S. attacking Iraq or Russia attacking Ukraine. This is an easy call.

Nonetheless, we share some email today in response to that position (which seemed fairly uncontroversial, especially for a largely progressive audience) and open up the phone lines today to a bunch of callers to try and find out why some on the supposed "anti-war left" are having trouble with that idea.

Among today's lively discussions with callers, the truth about Russia's misleading claims about "denazifying" Ukraine (there is an ultra-nationalist faction there, but they have no seats in Parliament, and by the way, Ukrainian President Volodymyr Zelenskyy is Jewish and lost several family members to Nazis during WWII) and one caller who simply can't even find it within himself to condemn Russia's horrific attack on 41 million innocent people in Ukraine. (Though, to be fair, I couldn't tell you if the caller is actually on "the left" or not)...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

Today on The BradCast, we tackle another small, totally easy to solve issue: Untangling the worldwide supply chain debacle. [Audio link to full show follows this summary.]

But, before that, at least a few stories seem to be resolving themselves today...

• Nine families of victims of the 2012 Sandy Hook Elementary School massacre settled their lawsuit with Remington, the manufacturer and marketer of the semi-automatic rifle used to kill their family members, for $73 million. The deal is noteworthy because federal law bans such suits against the gun industry, but Connecticut law does not. In this case, the U.S. Supreme Court rejected Remington's attempt to block the suit based on the protections in federal law.

• Prince Andrew settled a lawsuit filed against him by a woman who says she was 17-years old when she was sexually abused by Andrew, as coerced by the late financier and child sex trafficker Jeffrey Epstein. The settlement includes an undisclosed donation to the charity of the victim, Virginia Giuffre, and an acknowledgement by Andrew that she has suffered abuse as a victim It is unknown if Giuffre will personally receive any money as part of the agreement.

• Both a jury and a judge helped settle former Alaska Governor Sarah Palin's defamation lawsuit against the New York Times by rejecting it in no uncertain terms. On Tuesday, the jury in the civil trial brought by Palin found the Times' editorial board not guilty of libeling the former GOP Vice Presidential nominee. The paper had erroneously cited a "clear link" between a map published by a Palin campaign websites featuring a gun site on certain Congressional districts --- including then Democratic Rep. Gabby Giffords' --- and the 2013 mass shooting in Tuscon that killed six people and critically injured the Congresswoman. The jury's rejection of Palin's suit came the day after the judge, as the jury was still deliberating, declared that he planned to dismiss the case anyway after finding that Palin failed to prove the paper acted maliciously against her. For its part, the Times described the verdict as "reaffirmation of a fundamental tenet of American law: public figures should not be permitted to use libel suits to punish or intimidate news organizations that make, acknowledge and swiftly correct unintentional errors."

• And, in the weeks-long Russian/Ukraine military stand-off, there was a long-awaited easing of tensions as President Putin announced that Russia was ready for talks with the U.S. and NATO on a number of issues and that some Russian forces on the border with Ukraine would be withdrawing. President Biden, however, in remarks this afternoon at the White House, said the U.S. had "not yet verified" any troop withdraws and that a Russian invasion of Ukraine remained a possibility. The White House noted, however, that the U.S. remains opens to high-level diplomacy in hopes of avoiding military conflict in Europe.

On that news, Wall Street rallied after weeks of saber-rattling had weighed down the market and helped send oil and gas prices through the roof, serving as another reminder today of just one more way that our vulnerable supply chain can wreak havoc on an otherwise booming economy.

As it turns out, The American Prospect recently devoted an entire Special Issue for February to a very related topic: "The Supply Chain Debacle: How bad policy—outsourcing, financialization, monopolization, deregulation, and just-in-time logistics—broke our supply chains, raised costs and caused shortages."

We're joined today by The Prospect's Executive Editor and author David Dayen to help us untangle the mess that has been made over the past 40 or 50 years, under both political parties in this rare case, of a supply chain that has exposed its vulnerabilities with the onset of the COVID pandemic two years ago. But since then, it has continued to reveal its ill-designed brittleness and the very serious threat it poses to America's economic security.

Dayen walks us through how his Special Issue delves into the broad failures of the supply chain, largely put in place over the years by the Wall Street "free market" to maximize corporate profit at the expense of American jobs and national security...in exchange for cheap prices on goods! As Dayen details, the problems here are not one single failure across the chain, but as he breaks down, "multiple 'single points of failure'" across industry after industry all along the broken chain.

"We designed a system over the course of decades --- both parties --- that had lean inventories, that relied on offshore production, that relied on this concept of globalization," he explains. "That allowed the production facilities to become very concentrated. That allowed the spokes within the system to become concentrated. That deregulated everything to try to lower prices on shipping and transportation. And that allowed Wall Street to take the primary role in governing these efforts --- in other words, telling corporations 'Yes, you have to move your production offshore for cheap labor', and 'We have to deregulate these industries so that costs stay low,' and 'You have to have just-in-time production so that you don't have any inventory sitting around just wasting money, and we're spending too much money on warehouses.'"

With this precarious, profit-driven system in place, Dayen steps through The Prospect's full team coverage of how a virus breaking out in a manufacturing hub in China can shut down the entire system. Any sudden increase in a demand for goods --- say, during a pandemic --- ends up tying the giant, oligopolized over-seas container shipping system into knots and stranding massive cargo ships at sea while there is no room left for off-loading at U.S. ports. Once finally off-loaded, sometimes after months waiting in line off-shore, a U.S. rail system run by just a couple of companies and a trucking system that doesn't pay workers nearly enough for their efforts further bottlenecks the process. Then there's the vast lack of warehouse space for all those goods if they can ever get to where they need to be. All the while, these disruptions and failures work to the benefit of the largest distributors --- like Amazon and Walmart --- while cutting the knees out from under independent retailers and raising prices for everyone. So much for those low prices that consumers, at least, were supposed to get out of the deal.

But, as Dayen also explains, it doesn't take a pandemic. A cross-border bridge protest in Canada, saber-rattling in Eastern Europe or the Middle East and, perhaps even more crippling to the supply chain over the past year than anything else, climate change related disasters which promise to only get much more frequent and severe in the years ahead.

"The problem is the supply chain is run on these knife-edge principles that make it impossible for it to adjust to a shift up in demand. That is the entire problem," he argues. "So people who go on and say, 'No, this isn't a problem, it's just this shift. Everything will be fine.' They're missing the point. The point is that this lack of adjustment reflects problems with how the system is engineered."

And, yes, Dayen has advice on how to re-engineer the entire system. The good news, he also explains, is that both corporations and members of Congress --- from BOTH parties --- seem to finally be getting it. They are looking at and passing bills that encourage (and spend money on) the regionalization and onshoring of manufacturing back here in the U.S., and the Biden administration is investing heavily --- when Congress allows them --- into a number of long-overdue fixes.

It may all sound dry on paper, but it's actually a fascinating and very lively conversation on today's program that I hope you'll tune in for.

Finally --- and including a few related points --- Desi Doyen joins us for our latest Green News Report, on the crippling Western U.S. megadrought; the Biden Administration's roll-out of a national EV charging network; the spike in oil prices amid tensions in Russia-Ukraine; and the Super Bowl blitz by U.S. carmakers launching long overdue electric vehicle production lines...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

On today's BradCast: Merry Christmas. Christmas is cancelled. Thanks Joe Manchin and Omicron.

Manchin dropped a bombshell over the weekend, announcing on Fox "News" that he could not support the Build Back Better (BBB) act, the better part of the historically progressive agenda of President Biden and of largely every other Democrat in the House and Senate. That, after the measure was scaled from a $6.5 trillion package to just $1.75 trillion in order to appease the West Virginia Democrat. If Manchin remains a "NO", the bill --- and, perhaps the Biden Presidency along with it --- is largely dead. The White House offered an unusually lenthy and, frankly, blistering statement in response to Manchin, calling him out for his lack of "good faith" and broken promises made to the President personally. We share that blistering response in full today.

It should be noted that all of the limp reasons Manchin offered for breaking his promise to support BBB are all BS. The bill is fully paid for (unlike the bipartisan infrastructure bill that Manchin whole-heartedly supported and voted for) and it will actual lower the national deficit eventually, not increase it; The bill will not worsen inflation either. It will in fact, ease it. Moreover, since Manchin's announcement, the biggest Wall Street economists have actually downgraded their outlook for 2022 based on Manchin's sleazy move; And no, the monthly child tax credit expansion that lifted half of the nation's children out of poverty during its first year, after originally being included in Biden's American Rescue Plan earlier this year, will not lead parents to spend it on drugs.

The bad news (for now) of Manchin's self-serving decision is on par with COVID's decision to not be done with us yet, as the Omicron variant, just before airtime, was declared by the CDC to now be the most dominant variant in the nation. They say it now accounts for about 73% of new cases. That was fast. As we'd warned. That's how wildly transmissible it is. Desi Doyen joins us with some clear, sobering thoughts from WaPo's national science reporter Dan Diamond that you may wish to consider on how to help keep yourself and your family safe over the holidays.

On this matter, it should be noted, since some are dismissing the dangers of Omicron --- citing its predicted infections as mostly "mild" --- that means only that many cases may not result in hospitalization. Don't fool yourself by convincing yourself that, even if you do contract Omicron, it will most likely be a "mild" case of COVID. Short of asymptomatic cases, a "mild" version of COVID could lay you up for weeks or longer. It means you won't be hospitalized, but that's about it. And, yes, it's going to land a lot of people in the hospital, as experts believe we're likely to begin seeing as many as 500,000 infections per day. During the January 2021 peak we had "only" about 250,000 infections a day.

Finally, before opening up the phones today to listeners on Manchin, Omicron and more, some slightly better news. Donald Trump is terrified that he is soon to be indicted in New York. So, as he does when he knows he's in big trouble, he has filed a ridiculous lawsuit against New York Attorney General Letitia James in hopes of buying time. It probably won't work.

Then, callers ring in on all of the above. It was a very lively show --- particularly considering the content we had to work with today...

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

The U.S. economy, of course, has been rigged for years. The pandemic, in the meantime, has now made that clearer than ever. Not that the corporate media is bothering to explain it to Americans. So, w try to do so on today's BradCast. [Audio link to full show is posted below this summary.]

But, first up, results from several, eagerly awaited new lab studies on the effectiveness of the mRNA vaccines from Pfizer and Moderna on the Omicron variant have been released over the past 24 hours. Two independent studies, one from South Africa and another from Sweden, along with a press release on findings of a study by Pfizer, all suggest that getting a booster shot as soon as possible is the best way to avoid severe illness both from Omicron and all of the other previously-known variants. We walk you through the details and explain the findings today.

The upshot: Two vaccine doses and natural immunity from COVID is way better against Omicron than just two vaccine doses. Two vaccine doses and a booster shot is as good or better than two doses and COVID. So, unless you want to try your luck by getting COVID to protect yourself against it, a booster shot, right now, is your very best best. That, as infections, hospitalizations and deaths are all beginning to sky-rocket again, as the nation is on the verge of 800,000 COVID deaths.

Next, we've been reporting for the past several weeks on the lousy job the corporate media have been doing in covering what is, overall, a surprisingly robust economic recovery in the first year of the Biden Administration, as the nation (and world) struggles to emerge from our nearly two-year pandemic.

One of the media's worst and most misleading points of coverage has been on the matter of inflation. And, while our regular, global supply chains have certainly become knotted up, leading to legitimate upward price pressures, much of the added costs for goods and services is now thanks to good old profiteering and price fixing by companies which have been enjoying record profits, even during the worst of the pandemic and subsequent supply chain snarls.

As our guest today, author and financial journalist DAVID DAYEN, Executive Editor of The American Prospect recently reported, "In a time of high inflation, you hear a lot about companies 'passing costs' on to customers. In order for companies to maintain their God-given right to earn a profit, they must raise prices to offset the cost of producing goods and getting them into peoples’ hands. And thanks mostly to the hidden risk, exposed by the pandemic, of neoliberal gospels like just-in-time logistics, deregulation, and offshoring, prices really are going up."

"But," he continues, "there’s something else mixed in with this latest bout of inflation. Companies aren’t just passing costs onto us. With corporations using inflation as a cover for raising their prices, you and I are passing profits onto companies."

Dayen, author of the new book Monopolized: Life in the Age of Corporate Power, details how companies are not only profiteering, price-fixing and colluding to do so, they're actually bragging about it, out loud, on corporate earnings calls. That is sending up both stock prices and profits up for hundreds of the most profitable public corporations, many of whom have monopolistically been allowed to corner their markets, giving consumers few, if any, cheaper alternatives for the products and services they sell. Companies that don't play ball --- like Target, which announced they would not be raising prices --- have been punished, in turn, by Wall Street for daring to do so.

"The problem is that we have a business climate today where people have locked in their customer base. Your customers can't escape, because we have a series of consolidated companies that have a stranglehold on market share, and we don't even know that it's happening. You stroll down a grocery aisle and you see hundreds of items, but you don't know that the same handful of companies have created all of them," Dayen explains today. "And that's why you have large companies like Proctor & Gamble and Unilever saying 'We know we can raise prices on people...and we don't have to worry about any kind of material reaction.'" The same is true, of course, with many other companies, such as the Big Oil cartel, which is raking in record profits as raw materials fall, but failing to reflect those falling costs at the pump.

So, what, if anything, can be done about it? Are Presidents and their Administrations actually able to take actions that might roll back the corporate profiteering? Yes, Dayen explains, at least some, both with the use of the bully pulpit --- which, in the model of JFK, Biden has begun to try and do --- and also with the use of existing anti-trust and anti-price-fixing laws that are still on the books today, if rarely enforced.

"It is price-fixing," Dayen tells me. "But we don't spend a whole lot of time on that anymore in America. It's still unlawful. It's still occasionally prosecuted. And now we do have a different regime at places like the Federal Trade Commission, and the anti-trust division at the Justice Department." He believes that several key, progressive Biden appointments at both may be able to "turn the tide" back against corporate mergers and unapologetic (and potentially unlawful) corporate greed. "There is certainly a faction within the White House that feels like this is a serious problem and that we have to do everything possible to stamp it out," he says, but "they're swimming upstream, as it were."

There is a lot on these points to discuss with Dayen today. As well, we also get his reaction to the announcement today that Biden is withdrawing his nomination of Saule Omarova as Comptroller of the Currency, a key banking regulator, after red-baiting by Republican Senators (she was born in the Soviet Union) and concerns from conservative Democrats that she might be too tough on big banks. He also offers his two cents on our complaints, of late, about the terrible job that corporate media are doing in covering both Joe Biden and the economy.

Finally, after months of pretend complaints by Republicans and Democratic Senator Joe Manchin that spending $1.75 trillion in paid-for taxpayer dollars to expand health care, education, child care, elder care, and fight climate change over the next ten years in the Build Back Better bill is just too much money to spend for a poor country like ours, the House on Tuesday night, in record time, passed its latest annual defense spending bill with a lopsided bi-partisan vote in favor (opposed largely only by progressive Democrats). It'll cost nearly one trillion dollar ($768 billion, $24 billion more than the Biden Administration even asked for) for one single year of military spending --- much of which will go to stuff we never use and/or literally blow up.

Priorities.

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)

The volume of incoming huge news stories these days is getting to be as overwhelming as it was during the Trump years. But it's also a reminder to anyone who has deluded themselves into thinking that the Trump Era is over, it is anything but. We were planning on covering ProPublica's blockbuster bombshell exclusive this week on today's BradCast --- and we still do --- though it has been somewhat eclipsed by last night's New York Times blockbuster bombshell exclusive. We do our best to cover both today. [Audio link to full show follows below this summary.]

First, the remarkable news broken by the Times late on Thursday is that Donald Trump's wildly corrupt Dept. of Justice was a whole lot more corrupt than we have all yet fully appreciated. As it turns out, in an unprecedented move, his DoJ secretly subpoenaed phone, email and text message data of Democratic members of Congress on the House Judiciary Committee. But it wasn't just members that Trump saw as political enemies, including top Judiciary Dem Adam Schiff and Rep. Eric Swalwell. It was also their staff and even their children, one of whom was a minor, according to the Times' blockbuster.

All of that, even as the Trump Administration spent years blocking Congress from lawful subpoenas for testimony and documents from the White House itself and virtually every Executive branch agency, under the false premise that it would violate the Constitution's Separation of Powers, granting co-equal powers to both the Legislative and Executive branches. All the while, the Trump Administration was actually --- literally --- spying on members of the Legislative branch, while claiming (disingenuously) that Congress was overstepping its bounds by issuing lawful, public subpoenas for testimony to members of the Executive branch.

The stunning news comes after a week in which we previously learned that the Trump DoJ also secretly obtained phone, email and text records of journalists at the Washington Post, New York Times and CNN. Democrats claim to be outraged by it all, and vow to investigate. But without real legal consequences, accompanied by sweeping reforms by both Congress and, most immediately, Merrick Garland's Dept. of Justice, the appalling and outrageous and unlawful acts carried out during four years of the Trump Administration will absolutely be carried out again --- and even worse next time --- in the very near future.

Speaking of much-needed, long-overdue action from Congress, the ProPublica bombshell this week revealed that --- based on a "vast cache of IRS information" somehow obtained by the non-profit media outlet on the nation's wealthiest men --- American billionaires have been allowed to avoid almost all federal income taxes for years on their accumulated and still-surging wealth. As the media outlet reports in their jaw-dropping, nearly 6,000 word exclusive this week, "billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing."

Their months-long analysis of the data "demolishes the cornerstone myth of the American tax system: that everyone pays their fair share and the richest Americans pay the most. The IRS records show that the wealthiest can --- perfectly legally --- pay income taxes that are only a tiny fraction of the hundreds of millions, if not billions, their fortunes grow each year."

The raw IRS data show that billionaires like Bezos (the world's wealthiest man), Musk, Buffett and the others often pay zero in federal income taxes. Overall, the nation's top 25 wealthiest --- whose fortunes increased collectively by $401 billion between 2014 and 2018 --- paid a tax rate on that accumulated wealth of just 3.4% on average. That, compared to a median tax rate of 14% paid by regular, middle-class Americans, as the U.S. tax code rewards wealth over labor.

The New York Times explains in its own coverage of ProPublica's scoop, that even as Congress and President Biden bicker over tweaks to marginal tax rates, the ultra-wealthy avoid such trivialities all together. "The ProPublica revelations got to a widely understood issue: that the superrich earn virtually all their wealth from the constantly rising value of their assets, particularly in the stock market, and that the sales of those assets are taxed at a lower rate than ordinary income from a paycheck...But the analysis also revealed a less recognized strategy employed by the superrich: taking huge loans, using their assets as collateral. It allows them to avoid selling their assets and facing taxation, and even to write off some lending costs. In that way, Mr. Bezos and Mr. Buffett were able to show yearly income losses even as their wealth grew by billions of dollars."

Mother Jones' Senior Editor MICHAEL MECHANIC joins us today with a great deal of context and perspective on this long running, if legal, scam, after spending a couple of years hanging out with the ultra rich while researching his newly published book, Jackpot: How the Super-Rich Really Live --- and How Their Wealth Harms Us All.

Mechanic underscores the scam revealed by ProPublica: "As we've seen from the way the tax code works, wealth begets wealth, and we reward capital over wages. If you make a fortune on a stock, you pay a maximum of 20% when you sell that stock. In the meantime, when you hold it, you don't pay any taxes at all --- it's called 'unrealized gains.' What these billionaires have done is they just borrow against that. They never have to sell, so they never even pay the capital gains tax.  Meanwhile, you and I are getting a paycheck. If we made as much as they did, we'd be charged 37%.  So it's 37% versus 20% for assets, but they're not even paying the 20% because they're not selling the assets. They're taking out low-interest loans, paying a few percent, living on that money." And, yes, even as the cost of the interest would be less than they'd have to pay in taxes if they sold assets to live on their own money instead, they actually get to deduct the cost of those loans from their income taxes!

We discuss, among other things, how all of this actually hurts average Americans; how, because of it, trillions of dollars are not available to the government to spend on healthcare, schools, climate change, infrastructure and other public services; what, if anything, can or will be done about it by Congress --- where Republicans (and too many Democrats) seems to be just fine with a system that rewards wealth over work; whether proposals like Elizabeth Warren's wealth tax of .02 cents on every dollar of wealth by those worth more than $50 million could ever be adopted in Congress or is even Constitutional; and how all of this wealth doesn't even get taxed upon death when it's passed from generation to generation, as Mechanic reports at MoJo today.

"There's always been this argument, from the very beginning, that if you tax investors and business people, those people then won't invest, won't create jobs," Mechanic observes. "It's a spurious argument. If you have $100 million and somebody raises the capital gains rate, does that mean you're not going to start a company? You're not going to put it into the stock market? No, of course not. What else are you going to do with your money, put it under your mattress?!"

And, yes, we also discuss his new book (highly lauded by the legendary Bill Moyers!), which Mechanic describes as "not a polemical book. It's a funny, entertaining, and enraging character-driven narrative, in which I basically hang out with super-wealthy people and their minions. I interview researchers, I talk to a woman who trains billionaires' nannies in physical combat, [and] a guy who builds luxury safe rooms. It's a journey of the American wealth fantasy and how it's gone off the rails."

So, hey, if you're not already enraged enough by today's program, please buy Mike's book! It's out just in time to enrage Dad for Father's Day!

CLICK TO LISTEN OR DOWNLOAD SHOW!...

MONTHLY BRAD BLOG SUBSCRIPTION	ONE-TIME DONATION
Choose monthly amount... $10 : $10.00 USD - monthly$20 : $20.00 USD - monthly$50 : $50.00 USD - monthly$100 : $100.00 USD - monthly	(Snail mail support to "Brad Friedman, 7095 Hollywood Blvd., #594 Los Angeles, CA 90028" always welcome too!)