The infrastructure bills are working their way through Congress, and Republicans are indiscriminately blocking them. Take the surface transportation bills: $547b over five years, that passed with only one GOP vote in favor.

1/ Collapsed bridge; Harris & Ewing, photographer; between 1921
That might seem like a lot, but it's just a re-authorization of existing spending. It doesn't authorize a single cent of new maintenance and upkeep - it just continues the existing level of spending. Without it, America would stop maintaining its infrastructure altogether.

2/
In other words, the ENTIRE GOP CAUCUS (except @RepBrianFitz R-PA) voted to zero out America's infrastructure maintenance programs for the next five years.

prospect.org/politics/every…

3/
But don't get too smug. Congressional and Senate Dems are ALSO playing games with infrastructure, voting to let America's rail, highways and bridges continue to crumble.

4/
Take the bipartisan "Problem Solvers Caucus," composed of Republicans who think they're still in power and Democrats who wish Republicans were still in power.

They've announced a "compromise" infrastructure bill worth $1.125T - but it's a scam.

5/
That sum includes the existing budget for infrastructure (the inadequate sum that the GOP just voted against), bringing the true total down to $761.8b over five years.

6/
This pattern - inadequate sums that are even lower than they seem at first, thanks to deceptive accounting - is repeated in every "bipartisan" effort to create an infrastructure budget.

7/
The Senate "gang" of 5 Dems and 5 Repubs claim they've agreed to $1.2T in spending, but only $579B of that is NEW spending.

wsj.com/articles/bipar…

8/
That Senate deal is such dogshit that it would be laughable, except that it's being treated as serious. For one thing, it claws back covid money that's been allocated to the states...for infrastructure spending, and it imposes a tax on electric vehicle drivers.

9/
To top it all off, McConnell has said there's "no way" the GOP will support it. To sum up: it's a wholly inadequate sum that confiscates state infrastructure budgets and depends on taxing people for switching to electric cars, AND it's got no chance of passing.

10/
And they call us unrealistic!

There is no chance of getting the spending America needs through Congress with "regular order." If the agenda Americans voted for is to be realized, Dems will have to abandon bipartisanship.

11/
Unfortunately, the Dem establishment are basically Republicans. As @AOC told @CNN, the betrayal is coming from inside the House (or rather, the Senate).

commondreams.org/news/2021/06/1…

12/
"I do think that we need to talk about the elephant in the room, which is Senate Democrats blocking crucial items in a Democratic agenda for reasons that I don't think hold a lot of water."

13/
"Do we settle for an infrastructure package that has been largely designed by Republicans in order to get 60 votes, or can we really transform this country, create millions of union jobs, revamp our power grid, get people's bridges fixed and schools rebuilt?"

14/
AOC singled out Joe Manchin for taking positions that align with the Koch network and dark-money priorities: "There's a reason the Koch brothers are really doing victory laps about Joe Manchin's opposition to the filibuster."

eof/
ETA - If you'd like an unrolled version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2021/06/14/eut…

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More from @doctorow

15 Jun
Today's Twitter threads (a Twitter thread).

Inside: Taxes are for the little people; and more!

Archived at: pluralistic.net/2021/06/15/gui…

#Pluralistic

1/ Image
Taxes are for the little people: If your eyes glaze over at "carried interest loophole," wait'll you hear about "fee waivers."



2/ Image
Yesterday's threads: The Rent's Too Damned High; Highway to Hell; and more!



3/ Image
Read 18 tweets
15 Jun
If you wanna do crimes, make them incredibly complicated and technical. Like the hustlers that came into the bookstore I worked at and spun these long-ass stories about why they needed money for a Greyhound ticket home.

Those guys shoulda studied the private equity sector.

1/ The IRS building in Washing...
(If you'd like an unrolled version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:)

pluralistic.net/2021/06/15/gui…

2/
Private equity's playbook is to borrow giant sums by putting up other peoples' companies as collateral (yes, really). Then they use that money to buy the company they mortgaged, and pay themselves a huge dividend.

3/
Read 41 tweets
15 Jun
Jay Stowitts as the Satyr in The Magician. (1926) starrywisdomsect.tumblr.com/post/654074033…
Jay Stowitts as the Satyr in The Magician. (1926) starrywisdomsect.tumblr.com/post/654074033…
Jay Stowitts as the Satyr in The Magician. (1926) starrywisdomsect.tumblr.com/post/654074033…
Read 6 tweets
14 Jun
More than a century ago, Ida M Tarbell published her magisterial HISTORY OF THE STANDARD OIL COMPANY, a scorching two-volume piece of investigative journalism that led to the downfall of Standard Oil and the taming of John D Rockefeller.

gutenberg.org/files/60692/60…

1/
Tarbell was a self-taught, independent, uncredentialled journalist who covered the stories the mainstream press was unwilling to touch (remember that the next time someone tells you that we can solve disinformation by professionalizing journalists).

2/
She was raised in a Pennsylvania oil family and watched her father and all his friends get destroyed by Rockefeller's frauds. She was an activist, a Suffragist, a pioneer who demanded a scientific university education at a time when women were excluded from the sciences.

3/
Read 14 tweets
14 Jun
Today's Twitter threads (a Twitter thread).

Inside: The Rent's Too Damned High; Highway to Hell; and more!

Archived at: pluralistic.net/2021/06/14/eut…

#Pluralistic

1/
The Rent's Too Damned High: A podcast of my Medium column on the long con of asset appreciation.



2/
Highway to Hell: The infrastructure "compromise" is just funny accounting.



3/
Read 20 tweets
14 Jun
This week on my podcast, I read my @Medium column "The Rent's Too Damned High," an essay about the economic incoherence of making home-ownership the path to economic security and a middle-class life.

medium.com/p/520f958d5ec5…

1/ American slums of yesteryear.
Obviously, home-ownership does allow for intergenerational wealth accumulation (simply compare the wealth accumulation gap between Black families who were excluded from home subsidies like the GI Bill and white families who weren't), but that's not the whole story.

2/
Owning a home is a good way to insulate yourself from a landlord's whims and a good place to stash gains from the labor market, but when a nation turns to asset appreciation - not labor - to increase prosperity, almost everyone loses within a generation or two.

3/
Read 21 tweets

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