Instead of taking a critical look at the Pork Package passed by Congress last month, it seems the newspaper industry is getting ready to receive a little something-something in return:
With many U.S. newspapers struggling to survive, a Democratic senator on Tuesday introduced a bill to help them by allowing newspaper companies to restructure as nonprofits with a variety of tax breaks.
“This may not be the optimal choice for some major newspapers or corporate media chains but it should be an option for many newspapers that are struggling to stay afloat,” said Senator Benjamin Cardin.
A Cardin spokesman said the bill had yet to attract any co-sponsors, but had sparked plenty of interest within the media, which has seen plunging revenues and many journalist layoffs.
Well, the MSM got their man elected last fall. And like any powerful lobby — or high-priced call girl — they should expect to get something for their services.
Nevada is looking into new ways of raising… revenue. Read:
A key state lawmaker has proposed a $5 tax on acts of prostitution in Nevada, where brothels operate legally in some areas, and a counseling agency for sex workers that would be funded by part of the tax revenue.
“We’re desperate to find money for essential government services, so I will go anywhere to do that,” Senate Taxation Chairman Bob Coffin, D-Las Vegas, said todayin discussing his plan that by his estimate would raise at least $2 million a year from sex acts in the legal bordellos.
Coffin said the idea of getting taxes from the brothel business has been discussed for years but was rejected because “people weren’t willing to get their hands dirty” — even though the legal brothels volunteered to be taxed.
“I don’t know why people won’t recognize that we have a legal industry,” Coffin added. “I’m willing to go in and do the dirty work if no one else will.”
I’m sure Coffin will have to do lots and lots of research on this pressing issue, which touches deeply the lives of thousands of people. So much so, that it now requires an act of congress. Er, legislature. Anyway, the turgid point here is that they’ve finally found a way to tax thingy.
Nothing wrong with printing up a couple trillion dollars out of thin air, when you’re cutting spending to match:
Riki Ellison, who heads the industry-supported Missile Defense Advocacy Alliance, said last month the White House asked the Pentagon to cut nearly $2 billion, or up to roughly 20 percent, from missile defense in its fiscal 2010 budget.
Two billion from missile defense, designed to prevent America’s foreign policy from being held hostage by happy friendly smiley places like Iran or North Korea. Two trillion from our grandkids to Nancy Pelosi.
Yet another example of not letting a good crisis go to waste:
The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, according to an administration document.
The government at present has the authority to seize only banks.
Giving the Treasury secretary authority over a broader range of companies would mark a significant shift from the existing model of financial regulation, which relies on independent agencies that are shielded from the political process. The Treasury secretary, a member of the president’s Cabinet, would exercise the new powers in consultation with the White House, the Federal Reserve and other regulators, according to the document.
I know there’s a crisis, but it’s time to become a little wary. Past time, in fact.
Remember that TARP I and TARP II have yet to remove a single toxic asset from the portfolio of a single bank, despite extraordinary new executive power and superextraordinary Congressional spending. And now they want more of everything — money, power, the works. All while taking on health care and putting off fixing Social Security or Medicare/Medicaid.
“Well, I think that— as a general proposition, you don’t want to be passing laws that are just targeting a handful of individuals…And as a general proposition, I think you certainly don’t want to use the tax code—is to punish people.”
Mr. Obama, by contrast, started out much more directly, suggesting that if you make $150,000 or less you may be poor or middle class. A family with an income above $250,000, he went on to say, is “doing well.” And if you find yourself in that category, he’s going to target you for a tax hike — all in the name of creating “a sense of balance, and fairness in our tax code.”
So — what will Obama actually do? He talks a great centrist game, even to the point of hiring all kinds of former Clintonites. But when push comes to shove — and these days, that happens almost hourly — President Obama rarely misses an opportunity to miss an opportunity to swing to the left.
Taxes are going up. Sometimes directly, as “on the rich.” Sometimes indirectly, as the savings of the middle class are inflated away. And mostly way-indirectly, as the poor are kept poor thanks to Obama’s budgets putting the economy on permanent slowdown.
After signaling its intent to follow Apple’s wildly successful iPhone into the smartphone business, Dell’s first attempts to produce a phone have been rejected by the carries for being too dull and lacking enough differentiation to stand out in a competitive environment, according to a report.
A research note published today by Kaufman Bros. analyst Shaw Wu said that Dell’s new prototypes, capable of running both Windows Mobile or Google’s Android, simply didn’t interest the carriers.
You can’t just slap a touch screen on something and call it an iPhone killer, not even when it runs Google Android.
The Iranian leader’s rebuff on Saturday to President Barack Obama’s offer for dialogue was swift and sweeping: Words from Washington ring hollow without deep policy changes.
But Supreme Leader Ayatollah Ali Khamenei’s response was more than just a dismissive slap at the outreach. It was a broad lesson in the mind-set of Iran’s all-powerful theocracy and how it will dictate the pace and tone of any new steps by Obama to chip away at their nearly 30-year diplomatic freeze.
“This is why this will be a very slow, very complicated process between Iran and the United States,” said Abdulla. “Even the theocracy can be pragmatic. When they feel it’s in the national interest to reach out to America, they will find a way.”
Shouldn’t that read, “if they feel…?” Iran’s interest is in expanding its influence in the Middle East (and, eventually, beyond). Our interest is to stop that from happening. Iran is showing strength. We’re showing weakness. Who’s best serving their own interests?
I’d been reading The Speculist for ages, never knowing that one of its bloggers, Michael Sargent, was practically a neighbor of mine. Small world, as they say. Sargent was killed in a car accident yesterday. And without his entertaining vision, the world has become regrettably a bit smaller.
I work with special needs kids every day. During the fall we go bowling on Fridays. There is no doubt in my mind that many of these kids would destroy Barack in this sport. There is one difference though between these kids and the President. They wouldn’t laugh at him. They wouldn’t make fun of him. As a matter of fact, they would cheer for him every time he was lucky enough to knock down a pin, and pat him on the back when he didn’t knock down any at all.
VP reader RB launched CorruptionDatabase.com. In RB’s words, it a wiki for tracking “corruption info for any politician you’d like to throw in there. Feel free to mess around with it – I find it cathartic!” I think we all might.
Set your bookmarks, please. Better yet, log in and contribute to the wiki.
We’ve got a corporation so out of control, that it thinks handing out bonuses while bankrupt is A-OK. We have a Congress so out of control, that it hands out billions of bailout dollars — with an implicit okdey-dokey for said bonuses. Our Congress then goes even further out of control, and passes a law taxing those bonuses at 90%.
Here’s a little tip for the congenitally clueless in Washington: Nothing destroys wealth creation like uncertainty, and you guys make the Three Stooges look like Kabuki theater.
So. The President can’t manage his time well enough to fill 17 of the top 18 positions in the Treasury Department, but will get paid half a million dollars to write a children’s book. Well, not exactly write it, per se:
The project calls for an abridged version of his book “Dreams From My Father” for middle-school-aged children, according to the disclosure.
A White House aide said that the deal had been in the works for weeks and that the publisher will abridge the book. The aide, speaking on a condition of anonymity, said the publisher will get half of the money while Mr. Obama will sign off on the final version.
Obama will get a quarter million to give his (presidential) seal of approval to a book he didn’t write, to sell to schoolchildren whose curriculums are set, in part, by the Department of Education he runs.
Well, it’s hard to deny that Obama seems a bit unseemly, or that Crown Publishing looks like it’s currying favor, or that schoolchildren everywhere won’t be subtly “encouraged” to buy the book. “Library card check,” anyone?
The region’s outspoken congressman is in the national lens again – this time CBS News television cameras – in a report Wednesday that calls him “the king of earmarks who wastes a lot of taxpayer money” and implies that the FBI is investigating.
U.S. Rep. John Murtha, D-Johnstown, responded by waving the Constitution at the camera, saying: “What it says is the Congress of the United States appropriates the money. Got that?”
“The money,” says Murtha. The money. There’s just this money out there, floating around in the magic zone, and Congress appropriates it. At least that’s how Congressman Murtha seems to see things.
Well — guess what? We make the money that senile, corrupt, and anti-American bastard appropriates. Our work gives it its value. And so I’d like to think we get some say in how it gets spent. And we even get some say in who spends it.
If the Republicans can’t get their act together long enough to make Murtha their Number One Incumbent to Beat in 2010, then they deserve to stay the minority party for a very, very long time.