Thank you, Mister President!

Friday, January 8, 2010 \PM\.\Fri\.

For not scheduling your State of the Union address on February 2nd, feast of the Presentation of the Lord and the night of the season premiere of the final season of Lost, the greatest television show in broadcast network history.  🙂


Alabama Wins Mythical National Championship and Other College Football Rants

Friday, January 8, 2010 \PM\.\Fri\.

[Updates below]

The University of Alabama football team won the B.C.S. National Championship* or what I like to refer to as the mythical national championship for N.C.A.A. football.  Alabama beat an over rated University of Texas team 37-21 last night without having the opportunity of playing the only other undefeated team in the country, Boise State University.

Read the rest of this entry »


Art and the Marketplace

Friday, January 8, 2010 \AM\.\Fri\.

Upon watching this lecture at the suggestion of one of our contributors, I decided to put down some thoughts about the Austrian school’s approach to art, commerce and history.

Enjoy!


Taxes, Treasury Secretary Geithner and Joe Friday

Friday, January 8, 2010 \AM\.\Fri\.

Being self-employed I always have the great joy of paying my taxes four times a year in estimated payments.  I just did the one due on January 15, and in the fine mood that always puts me in, I thought it was time to recall  Treasury Secretary Tim Geithner and his difficulty paying some of his taxes.

The Wikipedia article on Geithner gives an excellent summary:

Tax scandal

At the Senate confirmation hearings, it was revealed that Geithner had not paid $35,000 in self-employment taxes for several years, even though he had acknowledged his obligation to do so, and had filed a request for, and received, a payment for half the taxes owed. The failure to pay self-employment taxes, in part due to the way his employer reported his wages which was not in accordance with tax law, was noted during a 2006 audit by the Internal Revenue Service (IRS), in which Geithner was assessed additional taxes of $14,847 for the 2003 and 2004 tax years. Geithner also failed to pay the self-employment taxes for the 2001 and 2002 tax years (for which the statute of limitations had expired) until after Obama expressed his intent to nominate Geithner to be Secretary of Treasury. He also deducted the cost of his children’s sleep-away camp as a dependent care expense, when only expenses for day care are eligible for the deduction. Geithner subsequently paid the IRS the additional taxes owed,and was charged $15,000 interest, but was not fined for late payment. As President of the Federal Reserve Bank of New York, Geithner annually completed an ethics statement noting any taxes due or unpaid, along with any other obligations. Geithner’s completed statement did not surface during confirmation hearings.

In a statement to the Senate panel considering his nomination, Geithner called the tax issues “careless,” “avoidable” and “unintentional” errors, and he said he wanted to “apologize to the committee for putting you in the position of having to spend so much time on these issues.” Geithner testified that he used TurboTax to prepare his own return and that the tax errors are his own responsibility. This statement is in conflict with statements by the Obama campaign that Geithner was advised by his accountant that he did not owe the taxes. The Washington Post quoted a tax expert who said that TurboTax has not been programmed to handle self-employment taxes when the user identifies himself as being employed. Geithner said at the hearing that he was always under the impression that he was an employee, not a self-employed contractor, while he served as director of the Policy Development and Review Department of the IMF. Geithner comments are contradicted by the Senate report that showed he was not only informed of his status, but that he actively applied for the allowance.

Read the rest of this entry »


“I agree with the Church in principle, but …”

Friday, January 8, 2010 \AM\.\Fri\.

Last week I posted a reaction to House Speaker Pelosi’s interview in Newsweek (cross-posted to First Things‘ “First Thoughts”). Perusing the comments, I discovered that the author of No Hidden Magenta — a blog with the daunting task of “bridging the gap between ‘Red and Blue State’ groupthink” — has responded with fury and dismay:

At least one reason why neither the Pope nor the Archbishop have denied Pelosi Holy Communion–despite having ample opportunity to do so–is because prudential judgments about how best to reflect a moral principle in public policy involved technical considerations of practical reason that do not go to the heart of what it means to be a Roman Catholic; in other words, they are not about the central value at stake. If Speaker Pelosi believes that abortion is a positive good that should be promoted by the state (rather than as a privacy right for all women) that is one thing (and her recent actions with regard to Stupak suggest that she doesn’t think this), but there are any number of good reasons for supporting less-than-perfect public policy as she claims to be doing in trying to reduce the number of abortions while not supporting an abortion ban. …

Now, we can and should have debate about this question–and I think Pelosi is profoundly mistaken in her position on public policy–but let’s be clear: both the Pope and her Archbishop do not think such a position puts her status as a Roman Catholic or as a communicant in jeopardy. And those who think it does would do well to follow their example in distinguishing between ‘moral principle’ and ‘public policy.’

I’m relieved that the author believes Pelosi is “profoundly mistaken” in her position on public policy. I’m less convinced, however, that “the Pope and her Archbishop do not think such a position puts her status as a Roman Catholic or as a communicant in jeopardy”, and the author’s explanation for why they allegedly do not think so.

Read the rest of this entry »