Archive for 2012

DEMOCRATS NOT HAPPY: Pennsylvania Considers Electoral College Reform.

UPDATE: Reader Tony Goodhew writes:

Let me see if I have this straight – Pennsylvania’s EC plan of awarding electors based on the state vote is “rigging” but the Democrat’s National Popular Vote plan of taking all a states EC votes away from the majority voters in that state is just a sensible modernization.

Ok, Nice to know…

It’s always “rigging” unless it advantages the Dems. Narrative, you know.

STEVE HAYWARD: “I’ve been meaning to bring up the following New York Times graphic since it was published last month, as it shows that Republicans are at their highest level of control of state governments in 60 years. Not bad for a party supposedly in deep trouble and on death’s door. (Notice, by the way, that Republicans controlled exactly zero states after the 1976 election.)”

FINAGLING AND JIGGERY-POKERY SEEM TO BE THE FIRST RESORT THESE DAYS: Claim: White House Can Block Effect of “Fiscal Cliff” Tax Increases.

The White House has the power to temporarily protect taxpayers from middle-class tax hikes even as upper income rates rise if Congress does nothing and all of the Bush-era tax rates expire in January.

Experts and lawmakers alike agree that Treasury Secretary Timothy Geithner has the power to adjust how much is withheld from paychecks for tax purposes — for all taxpayers or just for some.

By doing so, Geithner could ensure paychecks reflect the White House position that wealthier taxpayers with annual income higher than $250,000 see their taxes rise. Geithner at the same time could leave withholding tables where they are for the middle class, ensuring those workers don’t see a higher cut from their paychecks. . . .

The tactic could buy Washington precious time to strike a tax agreement without pinching the economy, but it carries substantial risk. If the administration miscalculates where rates end up, tinkering with withholding could morph tax refunds into hefty bills.

That would be politically uncomfortable, especially as people would notice it in the spring of 2014, an election year. I suggest, instead, that we abolish withholding entirely so as to ensure that people appreciate just how much they’re paying.

UPDATE: Withholding the Taxpayer Hostage.

REFORM: A reader emails a suggestion for ensuring better behavior from members of Congress: “I would suggest forcing them to put substantially all of their assets into a trust that is linked to the inflation adjusted GDP of the US before they take office. That way their interests would more closely coincide with those of the country and they would not be able to so easily get rich through graft and self-dealing. They would only prosper if the country prospered. As things currently exist the incentives are very nearly the opposite.”

NUCLEAR HISTORY: Alvin Weinberg’s post-war evaluation of Hitler’s nuclear program. “The general impression from the German reports is that they were on the right track and that their thinking and developments paralleled ours to a surprising extent. The fact that they did not achieve their chain reaction is primarily due to their lack of sufficient amounts of heavy water.” Because of sabotage and bombing.

GYPSY HISTORY: European Romani exodus began 1,500 years ago, DNA evidence shows. “Despite their modern-day diversity of language, lifestyle, and religion, Europe’s widespread Romani population shares a common, if complex, past. It all began in northwestern India about 1,500 years ago, according to a study reported on December 6th in Current Biology, a Cell Press publication, that offers the first genome-wide perspective on Romani origins and demographic history. The Romani represent the largest minority group in Europe, consisting of approximately 11 million people. That means the size of the Romani population rivals that of several European countries, including Greece, Portugal, and Belgium. . . . Once in Europe, Romani people began settling in various locations, likely spreading across Europe via the Balkan region about 900 years ago.”

FROM THE “NANNY STATE” TO THE NAMBY-PAMBY STATE.

MOCKING THE WASHINGTON POST, AND WARREN BUFFETT, for tax hypocrisy.

FRANK J. FLEMING: What’s Wrong With Susan Rice?

The Republicans’ opposition to Susan Rice’s potentially becoming the next secretary of state is pretty hard to understand.

It wasn’t long ago that Republicans were all for a different black woman named Condoleezza Rice taking the same job — is the GOP just bigoted about the name Susan?

Republicans’ stated objections to Rice make no sense. They complain that she’s “dishonest” and “incompetent,” to which she could easily respond, Well, duh, that’s why I work for the government.

When did Republicans start insisting on approving only competent, honest people, especially with regard to the Obama administration? Is it just me, or did that come completely out of left field?

I thought it was common knowledge that people who are good at things get jobs in the private sector, and those who are ambitious but not particularly useful find jobs in politics. So our expectations are similar to when we give small tasks to toddlers: As long as they don’t screw things up too badly, we consider them successes.

Read the whole thing. But I love this bit in particular: “This idea that President Obama should only appoint honest, competent people is really unfair. The guy is a Chicago politician; he’s probably never once met anyone like that.”

GLAD TO BE OF HELP: Reader Hal Crawford writes:

I just wanted to let you know that I finally had an opportunity to serve your Pasta with Tomato, Basil and Chevre Sauce (my God, has it really been NINE years?). It was great, and enjoyed by everyone around the table. Easy to prepare too! I used bowtie pasta. And I’m not the biggest pasta fan…..

Looking forward to your presidential run in 2016.

That’s a good recipe.

SOUNDS LIKE A GOOD ARGUMENT FOR DAN MITCHELL’S PROPOSED EXCISE TAX ON CEO PAYCorporate CEOs: Raise Taxes on Top 2%. Also, income from the exercise of stock options should be taxed as ordinary income, not capital gains, since it’s a replacement for salary. . . .

UPDATE: Reader Mike Chittenden writes:

I am an employee benefits and executive compensation lawyer. I just wanted to point out that income from stock options is almost always taxed as ordinary income. Only if the stock option qualifies as in incentive stock option is it taxed as capital gains. To qualify as an incentive stock option, the option has to be held for a certain amount of time and the stock has to satisfy holding requirements after the option is exercised. In addition, there are other requirements relating to the option being granted to an employee and limits on when it can be exercised (during employment or shortly after). Finally, the limit on incentive stock options is $100,000 per year (it’s a little more complicated, but that’s the basic limit). Almost all CEO options are not ISOs, but are nonqualified or nonstatutory stock options. Those are always taxed as ordinary income and are subject to employment tax (if granted to an employee).

Incentive stock options is what I meant, but I didn’t realize that CEO options weren’t usually those. My mistake, and thanks for correcting me.

KIRSTY HAWKSHAW AND OPUS III: I Talk To The Wind. I’ve done a lot of that on this blog, over the years. But the wind cannot hear.

WALTER RUSSELL MEAD SKEPTICAL about claims that West Point is dominated by “Christian Taliban.”

UPDATE: Reader Rob Crawford writes:

It’s a sad fact we have to assess such claims in light of Sandra Fluke — who went out of her way to attend a university with policies she disagreed with, in order to give herself standing to attack the university’s policies. That someone would flee West Point because of “harassment”, and immediately write a piece for Huffington Post smacks of the same sort of set-up.

Hmm. Could be.

GUT CHECK: The curious can find out just what’s living in their intestines. “The bacterial zoo inside your gut could look very different if you’re a vegetarian or an Atkins low-carb dieter, a couch potato or an athlete, fat or thin. Now for a fee — $69 and up — and a stool sample, the curious can find out just what’s living in their intestines and take part in one of the hottest new fields in science.”