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Founded in January 2009, PubliCola is a blog about Seattle written by journalists who are dedicated to non-partisan, original daily reporting that prioritizes a balanced approach to news. Started by longtime local editor and award-winning reporter Josh Feit, PubliCola is the first online-only news site in state history to get media credentials to cover the state capitol.

PubliCola was off and running. In June 2009, PubliCola hired another award-winning journalist, super-sourced Seattle city hall reporter Erica C. Barnett.

People were afraid that blogging would change journalism. Instead, we believe journalism can change blogging. Twenty-first century journalism may look and feel different, and yes Erica isn't afraid to get cranky, but we're committed to making sure online news still delivers independent, reliable, even-keeled coverage. And most of all, we're committed to making sure the coverage sparks honest civic debate.

Bringing you cola for the people, PubliCola is named after Publius Valerius PubliCola, the alias for the authors of the Federalist Papers—the original bloggers.

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The first online-only news site in state history to get media credentials to cover the state capitol and Seattle city hall, PubliCola has been called a “must-read” by the Seattle Post Intelligencer and a hot “New Media Mover and Shaker” by Seattle Magazine—which also cited our own Erica C. Barnett as the city's No. 1 news nerd.

Cantwell's Containment Policy

News   September 15, 2009 at 6:16 pm Josh Feit

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Sen. Maria Cantwell (D-WA) gave a speech (video here) on the Senate floor this afternoon calling for Medicare reform, hitting all your favorite Utne Reader speaking points about scrapping “fee for service” and tying costs to outcomes instead. (Earlier this month, Cantwell also hit all The Nation magazine speaking points, calling for a public option.)

However, Sen. Cantwell left out her Socialist Worker speaking points*, which her office had pitched me earlier this summer:

Cantwell wants to impose a 1.45 percent tax on short-term capital gains to help fund Medicare, and she’s asked the Senate Joint Committee on Taxation to look at the budgeting details of her populist tax idea.Currently, short-term capital gains—which includes profits made on day trades and short-sales by hedge funds—aren’t subject to Medicare taxes like a workers’ income is.

Cantwell’s office tells PubliCola: “This is … about fairness. People who live on profits they make in day trades don’t contribute into the Medicare trust fund in the same way as a worker who earns wages.”

I asked Cantwell’s office why that rap wasn’t part of her speech today and if the senator had gotten any numbers back from the committee yet. Cantwell’s spokeswoman Ciaran Clayton said simply: “She’s still interested in that proposal, but she’s also focusing on cost containment first and foremost before looking for any new revenues.”

* Just kidding about the Socialist Worker!


  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….

  • Good Grief

    Capital gains are considered short-term for any security held for less than a year, and they are already taxed at a higher rate than long-term gains.

    Cantwell probably figured out that nobody has day traded stocks since back in the days when Real Networks shares were worth something….