I'm not a big fan of capital gains taxes. Actually, I'm not a big fan of the whole tax system in general. The only reason it exists in its convoluted form is so that there can be an abundance of loopholes which can be exploited by corporations and wealthy individuals.
But capital gains taxes really are a tax on investment in the economy. I would rather see corporations pay their fair share rather than taxing the investor after the corporation makes its profit and then uses loopholes to evade payment.
The only change to tax policy that I would take seriously is a total restructuring. Most changes made these days are meant to appease the special interests that fund the campaigns of the people that end up in office. Obviously, they're not going to change the tax code because that means biting the hand that feeds them.
We just had a blatantly obvious instance of this right here in Hamilton County. Remember Phil ("What do you mean I'm an asshole?") Heimlich's recent proposal to reduce property taxes and raise sales taxes? Heimlich didn't even bother hiding the fact that the idea came from Carl Lindner to benefit Carl Lindner. Hell, they even made the announcement together.
Now we have another instance of special interest tax policy, this time at the state level. Rep. Chuck Calvert (R-Medina) has sponsored HB 626 which would gradually reduce capital gains taxes from 5% to 3%.
Calvert's bill has been analyzed by the Institute on Taxation and Economic Policy, which reports that "the bill getting a hearing today in the Ohio House would give three-fourths of the cuts to the 1 percent of Ohio's wealthiest residents, whose income next year will average $812,000, over the first three years." [CinPo...]
Capital gains will always benefit wealthier people more. That's always going to be the case. That in itself is not the problem; the problem is giving the wealthiest Ohioans a tax break in an economic environment characterized by (a) widening wealth inequality, and (b) diminishing state returns. It was only a few months ago that municipalities across the state had to face decisions about which services to cut. Here's the post I wrote about it.
Here's my idea: keep the capital gains taxes and trash the gambling proposals. Earmark capital gains revenues for education. This would obviate the "need" for gambling revenues to fund education. I'm sure OL&E will support this, since their primary concern is educating children. Is that right, Todd Hoffman?
Contact your state legislator and tell him/her to oppose HB 626. It is not sensible at this time.
Click here to find your House member.
20 July 2006
19 July 2006
Corporate Profits Thankfully Not Hurt by War, Healthcare Costs
Liberals think war is bad because people get maimed, tortured, orphaned, raped, killed, blah, blah, blah.
Well, war isn't all bad. In fact, it's highly profitable. The defense sector has defied the sagging economy and beat the market big-time since 2001. And now we have this great news:
Military contractor General Dynamics Corp. said Wednesday its second-quarter earnings rose 84 percent, driven by demand for tanks, armored vehicles and business jets, and raised its full-year earnings outlook.
But that's not the only good news. UnitedHealth also posted 2Q profits, despite 80 million uninsured Americans. But there's more!
UnitedHealth CEO made $60 million dollars last year! Awesome!
What does the CEO of YOUR health insurer make?
(Personal note: United used to be my health insurer several years ago when I needed some medical treatment. They pulled a stunt so unbelievable that I can't even believe they're still in business. It's too long of a story to post, so I'll be succinct: they're scam artists).
Well, war isn't all bad. In fact, it's highly profitable. The defense sector has defied the sagging economy and beat the market big-time since 2001. And now we have this great news:
Military contractor General Dynamics Corp. said Wednesday its second-quarter earnings rose 84 percent, driven by demand for tanks, armored vehicles and business jets, and raised its full-year earnings outlook.
But that's not the only good news. UnitedHealth also posted 2Q profits, despite 80 million uninsured Americans. But there's more!
UnitedHealth CEO made $60 million dollars last year! Awesome!
What does the CEO of YOUR health insurer make?
(Personal note: United used to be my health insurer several years ago when I needed some medical treatment. They pulled a stunt so unbelievable that I can't even believe they're still in business. It's too long of a story to post, so I'll be succinct: they're scam artists).
Neurons vs. Morons
George W. Bush, a man with no scientific or medical understanding whatsoever, will now issue his first ever veto on a stem cell research bill that, according to news reports, is supported by 70% of Americans.
But Bush doesn't represent Americans. He represents Jesus. And Jesus wants to grow morons, not neurons.
"The president is not going to get on the slippery slope of taking something living and making it dead for the purposes of scientific research."
Senate supporters of the bill likened that logic to opposition suffered by Galileo, Christopher Columbus and others who were rebuked in their time but vindicated later.
Sens. DeWine and Voinovich both voted NO (what the...???).
How did your senator vote? Here's C-SPAN's map.
But Bush doesn't represent Americans. He represents Jesus. And Jesus wants to grow morons, not neurons.
"The president is not going to get on the slippery slope of taking something living and making it dead for the purposes of scientific research."
Senate supporters of the bill likened that logic to opposition suffered by Galileo, Christopher Columbus and others who were rebuked in their time but vindicated later.
Sens. DeWine and Voinovich both voted NO (what the...???).
How did your senator vote? Here's C-SPAN's map.
17 July 2006
Less Lead and Less Smoke, Say Cincinnatians
UC scientist calls for worldwide ban on lead paint:
A U-C researcher is calling for a worldwide ban on lead paint after alarming discoveries abroad. While in India investigating a child with high lead levels, environmental health professor Scott Clark, found the source, a nearby playground covered with lead paint.
He speculates that things made in those countries could end up in the U.S. Clark wants American based companies who do business in those third world nations to promote change.
Why is lead dangerous?
And all regional Bob Evans restaurants (29 of them) will be smoke-free as of the end of July.
If there's one thing the Ohio Valley needs less of, it's bad air. As I've stated before, the Ohio Valley has high rates of pulmonary problems. I remember flying around Cincinati several years ago with a friend who had his own little plane. Every time we'd go up, we'd see a thick yellowish-brownish band across the horizon. "See that? That's smog."
A U-C researcher is calling for a worldwide ban on lead paint after alarming discoveries abroad. While in India investigating a child with high lead levels, environmental health professor Scott Clark, found the source, a nearby playground covered with lead paint.
He speculates that things made in those countries could end up in the U.S. Clark wants American based companies who do business in those third world nations to promote change.
Why is lead dangerous?
And all regional Bob Evans restaurants (29 of them) will be smoke-free as of the end of July.
If there's one thing the Ohio Valley needs less of, it's bad air. As I've stated before, the Ohio Valley has high rates of pulmonary problems. I remember flying around Cincinati several years ago with a friend who had his own little plane. Every time we'd go up, we'd see a thick yellowish-brownish band across the horizon. "See that? That's smog."
15 July 2006
"Sweet Jesus You're an Idiot," vol. 2
An update on Pete, the abortion monomaniac who couldn't even discern that The Onion is a satirical newspaper:
Congratulations, Pete, you made Salon.com!
In just a few days, the comments on Pete's post reached into the hundreds and he became the poster child for evangelical stupidity. Suprisingly, Pete didn't put his tail between his legs and acknowledge his mistake. That would be like saying he was wrong, which is like saying Jesus is wrong, which is like saying Jesus doesn't support Pete, which is like saying Pete has a psychological problem and needs to see a psychiatrist.
So what was Pete's reaction? He removed the comments and added graphic images to his original post. Passive-aggressiveness with a twist of evangelicalism served on a bed of gore. Oooh! That's refreshing! It's like a summer salad made out of Jesus!
Here's Pete's first reaction to being excoriated.
Here's his second reaction.
Here's his third.
What does the world think of Pete? Click here to read his deleted comments.
Congratulations, Pete, you made Salon.com!
In just a few days, the comments on Pete's post reached into the hundreds and he became the poster child for evangelical stupidity. Suprisingly, Pete didn't put his tail between his legs and acknowledge his mistake. That would be like saying he was wrong, which is like saying Jesus is wrong, which is like saying Jesus doesn't support Pete, which is like saying Pete has a psychological problem and needs to see a psychiatrist.
So what was Pete's reaction? He removed the comments and added graphic images to his original post. Passive-aggressiveness with a twist of evangelicalism served on a bed of gore. Oooh! That's refreshing! It's like a summer salad made out of Jesus!
Here's Pete's first reaction to being excoriated.
Here's his second reaction.
Here's his third.
What does the world think of Pete? Click here to read his deleted comments.
14 July 2006
Local Media Helps Chabot Feign Effectiveness
Like many bridges in across America, the Brent Spence is in need of reconstruction and repair. Earlier this week many of us saw Rep. Steve Chabot (along with KY Rep. Goeff Davis) make some photo-ops for the news.
But there was no news. Nothing to report. No decisions have been made, no plans have been set.
So why the hell did Steve Chabot travel to Cincinnati (at taxpayer expense, I presume) for a meaningless photo-op?
Well, why else?
But there was no news. Nothing to report. No decisions have been made, no plans have been set.
So why the hell did Steve Chabot travel to Cincinnati (at taxpayer expense, I presume) for a meaningless photo-op?
Well, why else?
13 July 2006
Today in Corruption
Three interesting items in the news, all bearing one degree of separation from Republican corruption:
Ohio broker charged with bribing BWC official attends Catholic mass every day. The article does not mention if he's deaf.
British banker who provided evidence to Enron prosecutors found dead in London park. Authorities say death is "unexplained".
And from the "too little, too late" file: Army plans to let Halliburton's no-bid contract expire and rebid with other firms.
"Taxpayers can breathe easier knowing that the days of $45 cases of soda and $100 bags of laundry are coming to a close," said Rep. Henry Waxman.
Ohio broker charged with bribing BWC official attends Catholic mass every day. The article does not mention if he's deaf.
British banker who provided evidence to Enron prosecutors found dead in London park. Authorities say death is "unexplained".
And from the "too little, too late" file: Army plans to let Halliburton's no-bid contract expire and rebid with other firms.
"Taxpayers can breathe easier knowing that the days of $45 cases of soda and $100 bags of laundry are coming to a close," said Rep. Henry Waxman.
11 July 2006
WestEnder Performs Civic Duty, Misses Neighborhood Shooting
I went to court yesterday. My sentence: jury duty. I was in a pool of potential jurors for a traffic case, but I wasn't picked. So I'll have to go back tomorrow. I'll take my own magazines this time.
While I was loitering in the waiting room and reading magazines like Aviation Week and Business2.0, a boy was shot in front of the Richie's restaurant half a mile from my home-- right in the middle of the day on a busy street. I don't like the food anymore, but I used to carry out fried chicken from Richie's all the time on the way home from work. I drive by the restaurant almost every day. That's how I get to Clifton.
It's particularly ironic that this happened on the heels of a conference held in Cincinnati to curb youth gun violence.
While I was loitering in the waiting room and reading magazines like Aviation Week and Business2.0, a boy was shot in front of the Richie's restaurant half a mile from my home-- right in the middle of the day on a busy street. I don't like the food anymore, but I used to carry out fried chicken from Richie's all the time on the way home from work. I drive by the restaurant almost every day. That's how I get to Clifton.
It's particularly ironic that this happened on the heels of a conference held in Cincinnati to curb youth gun violence.
08 July 2006
"I'm Pro-Life, but Sweet Jesus You're an Idiot"
That's just one of the comments following this holier-than-thou rant over an editorial in The Onion.
Yes, The Onion.
What kind of out-of-touch idiot would read an Onion editorial and take it seriously.... so seriously as to respond? You're sure to be surprised (not!).
"This is priceless," observes Dr. Puma at Width of a Circle (hat tip).
I just had to pass it on.
Yes, The Onion.
What kind of out-of-touch idiot would read an Onion editorial and take it seriously.... so seriously as to respond? You're sure to be surprised (not!).
"This is priceless," observes Dr. Puma at Width of a Circle (hat tip).
I just had to pass it on.
Will Wild Wimbledon Come to Wild End?
I predicted wins by Mauresmo and Federer a few days ago. I've been rethinking that in the last 24 hours, though.
Tennis has always had no.1 vs. no.2 rivalries: Evert - Navratilova, Graf - Seles, Borg- McEnroe, Connors - McEnroe, Becker - Edberg, Becker- Sampras, Sampras - Agassi, Williams - Williams. The rivalries at the top are always there, and it's great because it pushes each player to greater heights. Sampras routinely credited Agassi with making him a better player.
But Federer - Nadal is a special case. For one thing, it's really taken only 6 months for this to become a truly titanic rivalry. For another, Federer is so much better than everyone else on the tour that no one else has even come close to challenging him. He is 1-5 this year against Nadal but 55-0 against everyone else.
For Federer to make the Wimbledon finals 2 weeks after the French finals is amazing. For Nadal to do the same thing is even more amazing.
I was disappointed in the French final; it wasn't Federer's best performance, and the match wasn't that good. I hope it's different this time, and I have a feeling it will be. I'm hoping for a big time 5-set fight.
I don't necessarily give the edge to Federer. I think the pressure is on him. Nadal's play so far suggests that Federer won't have the advantage on grass that everyone assumed he would. If the match goes the way I think it will, there will be plenty of big points and pressure moments. And I think that's where the match will be decided. Nadal never chokes on pressure points. I'm not so sure about Federer.
Basically what it comes down to is one of my old rules: when in doubt, pick the crazy person. Therefore I completely reverse my former predictions and predict Henin-Hardenne and Nadal.
Tennis has always had no.1 vs. no.2 rivalries: Evert - Navratilova, Graf - Seles, Borg- McEnroe, Connors - McEnroe, Becker - Edberg, Becker- Sampras, Sampras - Agassi, Williams - Williams. The rivalries at the top are always there, and it's great because it pushes each player to greater heights. Sampras routinely credited Agassi with making him a better player.
But Federer - Nadal is a special case. For one thing, it's really taken only 6 months for this to become a truly titanic rivalry. For another, Federer is so much better than everyone else on the tour that no one else has even come close to challenging him. He is 1-5 this year against Nadal but 55-0 against everyone else.
For Federer to make the Wimbledon finals 2 weeks after the French finals is amazing. For Nadal to do the same thing is even more amazing.
I was disappointed in the French final; it wasn't Federer's best performance, and the match wasn't that good. I hope it's different this time, and I have a feeling it will be. I'm hoping for a big time 5-set fight.
I don't necessarily give the edge to Federer. I think the pressure is on him. Nadal's play so far suggests that Federer won't have the advantage on grass that everyone assumed he would. If the match goes the way I think it will, there will be plenty of big points and pressure moments. And I think that's where the match will be decided. Nadal never chokes on pressure points. I'm not so sure about Federer.
Basically what it comes down to is one of my old rules: when in doubt, pick the crazy person. Therefore I completely reverse my former predictions and predict Henin-Hardenne and Nadal.
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