Follow-Up Sundaes

Greater Blogtopia and all the media outlets have now had a chance to ruminate on the McCain-Palin ticket, and really it doesn’t sound like many people have a lot good to say about Gov. Palin. Ok, she has some supporters.

A lot of us are left scratching our heads (here’s Joe Gandelman on Why Palin), and a lot of people think her selection was a full-on error of judgment. Here’s Bloomberg, Sydney Morning Herald, the paper people are reading in Minneapolis-St. Paul (you remember, where they’re having the Republican convention this week with or without the President and Vice President), the Guardian‘s round-up of American politicians, some opinion from Alaska (you know, the home state where she’s a well-loved if brief-tenured governor), someone who had until Friday been a McCain supporter, and opinions as varied as the World Socialists and the Associated Press (yeah I guess I’m not boycotting them, but I’m sure as **** not paying them either!)

Some choice reading on the matter: What Republicans Really Think of Women; McCain-Palin Dream Ticket; and 45 potential political problems that have turned up for Gov. Palin in the first 35 hours of her being a candidate. Ok, right now it’s up to 51, which is pretty close to one per hour. I am very impressed! Fascinating reading. Did you know that in addition to being vehemently Pro-“Life”, she’s against all forms of birth control and for the now completely discredited abstinence only sex-ed? And that doesn’t even get into her stances on the environment and workplace safety, nor her little Abramoff problem (what, you didn’t think his stench had left the party, did you?)

In closing: Business Week disagrees with me about leaving the summary off a resume, so let me revise my stance — only put in a summary if you have room and can write a convincing summary that makes it sound like I need to have you on my payroll for at least the next 5 years; Minyanland seems to be an economy game for kids; GameTracker; on the possibility of Financial Armageddon; a comic with too much truth in it; and at least locally, J-1 visa-holders are just as bad off as their H-1b brethren. Think we can’t outsource medical care? Think again.

It’s going to be an interesting week.

This week the Republican National Convention will take place.  Also this week, Hurricane Gustav will hit the gulf coast.  It’s already a Category 4 storm;  Katrina was Category 5, and New Orleans is still a big mess 3 years later.

The big news for the week was supposed to have been Senator McCain’s Vice Presidential candidate, now known to be Sarah Palin.  More than one person thought of Michael Palin — except for the whole not being American thing. Gov. Palin is an interesting selection, and one that took almost everyone by surprise.  Nobody is sure yet whether this is a big win or a big loss.  Leading theories on the motive for this pick:  she’s a woman and the pseudo-feminists who wouldn’t vote for anybody but Hillary will be impressed;  there was a checklist of positions on various issues and she fit; since she’s relatively unknown, it’s hard to know anything bad about her.

But as MSNBC pointed out last night, there was actually quite an under-the-radar campaign for her.  How else do you explain her spread in December’s Vogue Magazine?  Her appearance on CNBC with Maria Bartiromo?  Her other appearance on CNBC with Larry Kudlow (wherein she wonders what exactly the Vice President does all day!)?

And as many others have pointed out, she has problems.  She has an abuse of power scandal, very little experience, a small baby to take care of on the campaign trail (one commentator wonders if she is breastfeeding), a pro-life stance as courageous as it is out-of-touch for most Americans (at least she walks the walk on this), a host of other positions most Americans don’t share, the town where she was mayor is still trying to recover financially, some experts wonder why she was chosen, others call her a “panic pick“, and to top everything off, her youngest child may very well actually be her grandchild!  Some suspect she may be the grandmother twice!

She is the Governor of Alaska.  Alaska has a population of roughly 670,000 people in 2006. Her entire state has a population roughly equal to the cities of Memphis TN or Austin TX. Not including suburbs. Keep in mind that 27% of the population of Alaska is under 18;  the maximum number of votes she could possibly have received — lifetime, including for Miss Alaska and the PTA and Mayor — was under 500,000.  Roughly 18,000,000 people voted for Hillary Clinton in the primaries.  That’s 36 times the number of votes Gov. Palin could possibly have received for anything, for any purpose, in any poll.

Seriously, what was Senator McCain thinking?

In the end, the nicest thing anybody outside party leadership could find to say was “At least it’s not Romney.”

In closing,  an August retrospective: people still use this as a reference on Wendy Gramm; everybody go serfin’, Serfin’ USA!; duh, drinking lots of high-calorie sugary drinks could make you fat; I wish this were no longer relevant, but a Message for the College Students in your life; here’s Everything You Need to Know about Social Security Reform and Everything You Need to Know about a Federal Sales Tax.

Have a great Labor Day weekend!

Hillary and Michelle: Feminism and Post-Feminism

In the last two days, we have had the opportunity to hear two remarkable speeches from two remarkable women.  And despite the fact that these women probably agree on a lot of issues, despite the fact that they are both members of the same political party, both grew up in Illinois, both went to prestigious schools on the East Coast, both got high-powered law degrees, both married up-and-coming young lawyers on the road to incredible political careers, they are so different.  One of these women is the Senator from New York and the wife of our 42nd President, Hillary Rodham Clinton.  The other is the wife of the Senator from Illinois and candidate to become our 44th President, Michelle Robinson Obama.

Wait — that sounds funny, doesn’t it?  Michelle doesn’t need to remind people about the family of her birth.  Michelle doesn’t need to hyphenate. The fact is that the feminism of women born in the 60s and 70s is very different from the feminism of women born in the 40s and 50s. While some of the issues remain the same, the context is changed and our reaction is different.  Brilliant Jill tells us a little about that old school feminism:

I remember early feminism. I remember the feminism of the affluent suburbs during the early 1970’s, when women whose husbands had high-powered jobs or had inherited money, who in the stately colonials of Westfield, New Jersey, held consciousness-raising groups about how oppressed they were. Early-stage feminism had little common cause with the women slinging eggs over easy at the diner, or cleaning the bedpans in the hospitals and nursing homes, or the ones teaching their children. It was about restrictive country clubs and examining their own vaginas. You could almost understand this in the early stages of a movement. Those who need it the most are too busy trying to keep a roof over their heads and don’t have time for activism.

When Hillary was in college, the Supreme Court had to make birth control pills legal;  it would be years until Roe v. Wade made abortion legal. Michelle has always lived in a world where women could control when (and if) they wanted to have children.

As Hillary herself pointed out, NASA wouldn’t even talk to her about being an astronaut because she was a girl. Today women may still only make $0.77 for every $1 earned by a man, but women at least have the opportunity to enter almost any profession.

Hillary wears pantsuits to show us all she is just as good as any man.  Chelsea wore a suit with a skirt, and looked as if she needed no man’s approval to begin the board meeting. Much has already been made of Michelle’s fashion choices.  She doesn’t need to dress like a man to show her authority in the office, the courtroom, or the home.

Hillary’s generation worked hard to achieve, to make it known that a woman could achieve. Michelle can do whatever she wants:  stay at home mom; career at a top law firm; charitable work in our communities.  She can do this because we already take it as fact that women can.

It was appropriate to mark yesterday as the 88th anniversary of women getting to vote. My grandmother was not quite born yet.  Hillary’s grandmother very likely remembered the day and cherished her first Election Day as a voter.

Hillary noted the start of the women’s rights movement going back to 1848 in a place called Seneca Falls. I prefer to take it back to Abigail Adams entreating John Adams to remember the ladies and “Do not put such unlimited power in the hands of the husbands” as Mr. Adams helped write the Declaration of Independence.  Don’t forget that Abigail was wife to one President and mother to another.

The torch is being passed from our feminist predecessors to a new, “third wave” or “post-feminist” generation.  We hope to take it gracefully and without being burned. The unique issues facing women today are different than the ones our mothers and grandmothers and great-grandmothers faced. And if we greet those challenges on higher ground, it is because we are lifted on the shoulders of those mothers and grandmothers.  And if those mothers and grandmothers do not understand that we don’t have to wear pants or don’t like the way we choose to balance our careers and families, so be it.  We will still thank them for having been there.

In closing:  Learning styles are bunk; if “Idle hands are the Devil’s workshop”, then it’s important that almost half of Iraqi adults are unemployed (gee, maybe people with jobs don’t have time to make IEDs, eh?); Business Week on the Enron Legacy; the Winners of the Bad Boss Contest have been announced; problems at a controversial prison?  Just move all the staff and prisoners to a nice clean new prison!  What could possibly go wrong?; business travelers switching to chartered jets has revealed a little deregulation problem; 30 years of Lego mini-figures; Carrie on immigrant round-ups (funny how they didn’t arrest any of the bosses who hired those thousand illegal immigrants); Unbossed on arbitration agreements; you go, Dennis!; and finally, Blue Bees.

By the way, there have been some updates in the Links. You might want to check out the new stuff.

M. Night Shyamalan’s Shorties

Time Traveling Senator: There is some hint that Senator McCain knew what questions would be asked at Saddleback ahead of time. It is worth noting that Rev. Warren did not say “We haven’t discussed that yet”, but rather “You’re jumping ahead.”

Duhpartment of Homeland Security: Secretary Chertoff says we need to crack down on smugglers. No kidding, Skeletor. Did you come up with that on your own, or have you been watching a Miami Vice Marathon?

Walk softly, but carry a big stick: The doctors who run the New England Journal of Medicine say that lawsuits are important to keep our medications safe. Truth be told, fear of lawsuits is probably a more powerful regulator than the Government in many industries.

Smoke on the Blackwater: It looks like some Blackwater employees may actually face murder charges for murdering 17 Iraqis in the street in the middle of a traffic jam.

Speaking of Iraq: It turns out that the whole war is little more than a huge corporate bailout for Halliburton, and that the “deal” to control that sovereign nation’s oil reserves was made months before the invasion. Disgusting.

Oh look, honey, there’s a nice one: It’s an official steal-my-laptop TSA approved computer bag. For people that think it’s cost effective to pay $220 for a bag that saves them 3 minutes every time they fly. Wake me when TSA approved shoes come out.

I’ve heard of Italian sausage, Polish sausage, and breakfast sausage, but Japanese sausage is a new one on me: The Japanese learned to make sausage from German POWs during The Great War. Rare pictures prove it.

Beauty is more than skin deep: and here are some special beauticians who prove it.

How do you like your red herring served?: Paul Krugman weighs in on corporate taxation.

Got Pens?: USA Today points out that many families have trouble getting school supplies together. Please think to put an extra package of things like crayons and paper in your cart for your local school supply drive!

Excuse me, there’s an elephant in the room: Business Week says “But the fiscal policy dispute, while informative and fascinating, has focused too much on tax regimes and not enough on the real challenge: health care. When it comes to domestic, nonmilitary fiscal policy in the new millennium, everything is dwarfed by health care.” Well put.

It’s called a No Fly List, not a No Answers List: A judge has made a ruling that “would allow individuals to demand information from the government, present evidence on why they should not have been on the list, and take the case to a jury….” How about that, the 5th and 6th Amendments apply to the No Fly List!

mmToasty: Bank Stocks That Are Toast.

This is not a crazy conspiracy theory: A computer security expert says that Diebold is stealing elections. The kicker? He’s a lifelong Republican.

Keep your wits about you; there’s always something to smile about. How about some cute kittens? Seriously, have a great week.

The Taxman Doesn’t Cometh

A lot has been made of the latest GAO study showing that more than 2 out of every 3 businesses in the United States pay no business Income Tax.  Heck, my kneejerk reaction was that they created AMT over 155 high-income individuals who managed to pay no taxes, yet 2/3 of businesses got away tax-free?

Well, then I got to looking at the story.

First, let me review a couple of accounting and tax terms.  Gross Income, Revenue, and Sales are terms that describe all the money coming in, before expenses.  Deductions are things the IRS lets all of us — individuals and businesses alike — take out of our income.  Expenses are the cost of doing business;  individuals can’t deduct their expenses, but businesses can deduct a lot of expenses (including money paid to employees, rent, cost of goods for sale, etc.). Net income or profit equals Revenue Minus Deductions. If you want to know way too much about the kinds of things businesses can deduct, the IRS publications 334 and 535 are just the beginning.  For now, Revenue – Deductions = Income is all we need to remember.

Just like us, and many people forget this basic fact, corporations and individuals only pay income taxes on income. You have deductions, even if it’s just the standard deduction and your allowed exemptions;  so do businesses. Just because somebody sold a lot of product doesn’t mean they made a lot of money.  There’s the cost of making or buying the product.  There’s the cost of the employees.  There’s insurance premiums. There’s shipping. Advertising. Accountants and Lawyers. Permits and licenses.  Some of these, you can take advantage of too — if you have enough deductions to make itemizing a good idea.  You can even deduct the cost of TurboTax on your taxes!

But I digress.  Just because these businesses took in money doesn’t mean they made money.  They might have lost money!

Another factor in play is that the majority of American businesses are in fact small businesses. The CNN article referenced above points out “Generally, many small firms, because they do not have shareholders, are able to shift corporate income to individual income.”  So instead of paying a corporate income tax, they file a Schedule C with their regular 1040.   They aren’t getting out of paying taxes, they’re just using a different form.

And the last thing I want to say about this is that just because a company (or individual) isn’t paying income tax doesn’t mean they aren’t paying any taxes. They still have business licenses and regulatory fees;  they still may pay sales tax on many items; they still pay property taxes;  if they have employees, they pay withholding taxes and Social Security taxes and Unemployment Insurance taxes; in some states they have taxes on gross revenue to pay.  All those taxes, by the way, are tax deductible for Federal purposes.

As an aside, I would like to address the idea of a windfall profits tax on oil companies. Critics say that this would result in oil companies deliberately bringing less petroleum to market, making oil and gasoline prices worse, since paying taxes is far worse than making money.  I disagree.  The title says it all:  windfall profits tax.  Oil companies can get out of paying it by simply making less money, spending more money on things like exploration and building refineries — activities that would incidentally help the economy and bring down fuel prices. In fact, the actual Senate bill defeated earlier this summer “would create a 25 percent windfall profits tax on companies that don’t invest in renewable fuels or electricity production.”

In closing: disaster tourism (of course you could see Pripyat much cheaper and more safely by playing Call of Duty 4;  Yes, we are having a recession; awwww, it’s a problem to untangle air traffic across the freaking nation by having planes fly over a really swank neighborhood at 6000 feet; parental consent for abortion laws don’t work and destroy lives; the last word on the Teen Mom Pact (if only!);  it turns out that the “OMG teh complications!” argument against Gardisil doesn’t work, because Gardasil has half the complication rate of most of the vaccines we line our kids up to take (what part of “would I rather give my daughter a shot or possibly watch her die of cancer?” is hard?); good thing NPR is radio, because the photo undermines the message; how the heck did Rachel Ray get to be a top earning chef?; Yes, Social Security will be paying out for years to come; and no surprise, Americans are driving less.

In which the War on Drugs is out of control

I first learned yesterday of a police raid gone wrong.

Busting down the door when the warrant doesn’t specify no-knock? Bad.

Shooting the dogs as they ran away, then leaving them to bleed to death while you interrogate the homeowner? Worse.

Refusing to believe that the homeowner is in fact the Mayor as you force him to kneel on the floor handcuffed in his boxer shorts for hours? Worse still!

But wait! there’s more!

The unopened package containing the drugs giving the cops the “grounds” for the warrant was delivered by the cops! That’s the worst.

There is clearly more to this story, and more keeps dribbling out every day. But as things stand, this stinks.

Yes, one of many reasons we need a Fourth Amendment. You know what we also need? A law that says cops are responsible for the damage they do if it turns out they don’t find what they are looking for. All of a sudden, I think cops will be a lot more careful about busting down doors and shooting dogs.

Cross-posted at TMV.

In closing: Obama is more experienced than 3 of the 4 guys on Mt. Rushmore, and it turns out he’s not afraid to Pledge Allegiance To The Flag; Alternet’s got it wrong, immigrant raids must not stop but they must jail the bosses instead of the workers; and two new sites, War or Car and If You See Something (from the guy who brought you Alien Loves Predator).

Shadow of the Shorties

Japanfilter: I couldn’t let the 63rd anniversary of the Hiroshima bomb pass without some sort of remembrance. Please check out the Japanese American Relocation Project Archives, renovation of a trail through the woods that used to be a Japanese neighborhood, and a virtual noblewoman reading what is widely regarded as the first novel ever written in Japanese or any other language.

You know what other anniversary it is?: Harriet handing George a report warning that some guy named Bin Laden wanted to attack the United States.

Clean, Clear, Water: preferably without getting killed.

Good advice: The folks who brought us P90x and 10 Minute Trainer (which is a very good workout, by the way) tell us to Think Thin.

A damn shame: The CDC reports that average waits at American Emergency Departments have risen from 38 minutes to almost an hour. What makes matters even worse is that’s an “average” number, not a “typical” number. About half those people actually waited less than 31 minutes, but the other half had much longer waits. Why? More visits and fewer ERs to take patients! Oh, and 17% of those patients had no insurance. No word on the relative acuity of those patient’s complaints.

Running Argument: The USPS says private companies always do things better. Congress says prove it. The USPS replies duh, private companies always do things better. Now think about this. For under $0.50, I can get an envelope delivered almost anyplace within a hundred miles the next day, and delivered almost anywhere in the lower 48 within 2-5 days. How much does FedEx and UPS cost to get the same letter delivered in the same time frames? How much would a courier for a local letter cost? In what possible way could privatization make things better?

I love Paris?: I have to admit, Paris Hilton is classier (and smarter) than most people give her credit for. Her reply to the McCain ad is clever, polite, and cutting.

Maybe e-passports weren’t such a good idea: They’ve already been cracked.

Get BAC: The Countrywide merger with Bank of America is threatened by bondholder lawsuits. That’s over and above the State AGs that want a piece of Countrywide.

Oh Freddie: Freddie Freddie Freddie, what’s with the losing so much money? How on earth did you end up with a situation where 10% of your portfolio accounted for half your losses?

Where’s Poochie?: (Reference) Diane Duane (yes, that Diane Duane) points out GPS for dogs, and notes that it should work for cats too. Some nut suggesting using it for your kids in 3… 2… 1….

And finally: why bailouts stink but why we need them anyway.

Econ Round Up

Giddyap, li’l economists!

Let’s start with government manipulation of data.  Remember when I said that manipulation of inflation data allowed for instant manipulation of Gross Domestic Product data?  A smarter economist has gone much farther than I could to outline the ways that GDP is manipulated.  In short, if you look at the big picture without the rosy glasses, we’ve been in a recession most of the last 3 years!

The New York Times is a little slow on this one, saying that More Arrows Seen Pointing to Recession.  Analysts start to theorize that the angry mob of unemployed and underemployed people who can barely gas up their cars to go buy groceries aren’t there out of sheer laziness, film at 11.

And about those groceries, store brands are appearing in more and more of our carts.  So much for consumer staples being recession proof!

Locally, a lot of school supplies are coming from Dollar Tree and a lot of school clothes are from Goodwill, where they offer a student and teacher discount with ID.

Minyanville has a nice piece on how the latest minimum wage increase still leaves workers behind where they were 11 years ago.

Speaking of inflation, Alternet goes out there to point out full-on stagflation when you look at real employment rates and actual price increases of things average people buy. “Let them eat pizza” indeed.

Citizen Carrie is right on when it comes to labor issues.

In closing: updating the Kosher rules for the modern global economy; Toyota’s Segway alternative (maybe they’ll toss one in if you buy a large SUV); too fit to be President??; and why is Wal-Mart afraid of a Democratic win in the fall.