President Obama has unveiled a $4 trillion budget proposal for next year Congress that calls for raising taxes on the wealthy and corporations in order to help fund education and fix crumbling infrastructure. The plan includes tax cuts for some poor and middle-class families. It also seeks to recoup losses from corporations that stash an estimated $2 trillion overseas by taxing such earnings at 14 percent, still less than half of the 35 percent rate for profits made in the United States. Obama’s proposed budget also takes aim at the high cost of prescription drugs, proposes a new agency to regulate food safety, and seeks $1 billion to curb immigration from Central America. It also calls for a 4.5 percent increase in military spending, including a $534 billion base budget for the Pentagon, plus $51 billion to fund U.S. involvement in Syria, Iraq and Afghanistan. Speaking at the Department of Homeland Security, Obama said across-the-board cuts known as sequestration would hurt the military. We speak to economist Dean Baker, co-director of the Center for Economic and Policy Research and author of "Getting Back to Full Employment: A Better Bargain for Working People."
Economist Dean Baker discusses last month’s victory of the left-wing Syriza party in Greece. This marked the first election victory in Europe of an anti-bailout party bent on reversing deep cuts demanded by international lenders. Baker praises the initial moves by the new government but warns Greece needs an "exit option" to leave the European Union.
As President Obama seeks $27.6 billion for federal drug control programs in his new budget, we talk to British journalist Johann Hari about the century-old failed drug war and how much of what we know about addiction is wrong. Over the past four years Hari has traveled to the United States, Mexico, Canada, Uruguay and Portugal to research his new book, "Chasing the Scream: The First and Last Days of the War of Drugs." His findings may surprise you — from the U.S. government’s persecution of Billie Holiday, to Vancouver’s success in addressing its heroin epidemic, to Portugal’s experiment with full decriminalization of all drugs.
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