President Barack Obama, in one of his most dramatic gestures to business, will propose that companies be allowed to write off 100% of their new investment in plant and equipment through 2011, a plan that White House economists say would cut business taxes by nearly $200 billion over two years.
The proposal, to be laid out Wednesday in a speech in Cleveland, tops a raft of announcements, from a proposed expansion of the research and experimentation tax credit to $50 billion in additional spending on roads, railways and runways. But unlike those two ideas, both familiar from Mr. Obama’s 2008 campaign, the investment incentive would embrace a long-held wish by conservative economists that had never won support from either Republican or Democratic administrations.
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My former co-blogger Morning’s Minion recently attacked the idea of extending the so-called Bush tax cuts to individuals earning more than $250,000 a year:
It would cost $680 billion dollars over 10 year. This is far greater than the cost of extending unemployment benefits to those out of work, something the Republicans opposed vigorously (the unemployed do not fill their coffers). It gets worse. Nearly all of the benefit goes to the richest 1 percent, those making more than $500,000 a year. Even more than this, 55 percent of the benefit goes to a mere 120,000 people – the top one-tenth of 1 percent of all taxpayers. Doing the math, that comes to an average $3 million tax reduction to those lucky enough to sit at the helm of the income distribution. It is indeed the preferential option for the super rich. This would be troublesome at the best of times, but in the current economic climate when so many struggle to get by, it’s simply immoral.
I can see where Minion is coming from on this, but it seems to me that his position here (aside from being contrary to the views of most economists) is contrary to other things he’s written on the desirability of fiscal stimulus.
That is a word that many music entertainers use to describe “Weird Al” Yankovic.
All of the songs that Weird Al parodies he gets approval for. In fact after the Coolio controversy about his “Amish Paradise” music video he now makes sure he speaks with the music entertainer directly before he proceeds in the production of any new venture.
Weird Al also parodies music styles, ie, pastiche, in addition to pop music hits.
In another cult classic which is a rare original from Weird Al, he pokes fun at the pop music group Devo and their brand of music which is New Wave.
Shortly after the song was released, Weird Al received a letter from the lead singer of Devo, Mark Mothersbaugh, congratulating him on writing “the perfect Devo song”. He has also said that the song is “beautiful … and I hate him for it, basically.”
An apocryphal story has been recounted where the lead singer of the Talking Heads, David Byrne, said after viewing the video for “Dare To Be Stupid” that Weird Al is a “genius”!
Dare To Be Stupid is the title song of the same album, and in my personal opinion his best album ever.
[Warning: The following videos are without profane lyrics or any form of nudity. You may finally realize that you can enjoy “contemporary” or “pop” music without all the vileness that emanates from the black hole that is MTV.]
This Thursday (September 9th) will see former Senator Rick Santorum (R-PA) come to my campus, the University of St. Thomas-Houston. Santorum is set to give an address on the role of Faith and Public Life. It is quite clear that this address is merely a precursor to a 2012 presidential run and thus it will be a highly politicized speech, as was JFK’s speech on Faith in the Public Square 50 years ago. Nonetheless, I am curious to hear what Santorum has to say. I promise to provide a recap of the address for this blog sometime next weekend, so stay tuned.
If Santorum is to run for President successfully he is going to have his work cut out for him. Much like Senator Sam Brownback in 2008, Senator Santorum will be pegged as the “values candidate”. In order to gain any traction, Santorum will need to do well in Iowa, a state that has a track record of hostility towards Catholic candidates. If social conservative heavyweights like Mike Huckabee and Sarah Palin jump in the race, Santorum might as well throw in the towel and hope to be someone’s VP. To his great credit, Santorum has admitted that he was wrong to have endorsed the pro-choice, Arlen Specter over the pro-life candidate, Pat Toomey during the 2004 Pennsylvania Senate Republican primary.
Even though he has been out of the Senate for almost 4 years now, Santorum remains a controversial figure in American politics, as evidenced by comments on blog posts here and here. More on Santorum next weekend…
On Labor Day it is good to recall Saint Joseph the Worker. When God decided to partake in our humanity, He could have had anyone for His foster father, and He chose a humble carpenter, a man who worked with his hands. Why?
The Bible gives us no indication that Saint Joseph was intelligent, brave or resourceful. He may have been all these things, but the Bible does not tell us. We know that he was of the House of David, but judging from all indications in the Bible he lived in humble circumstances. What made Joseph stand out to God other than the fact of his heritage?
Kindness I think, simple human kindness. This was graphically demonstrated at the very beginning when Saint Joseph first is mentioned in the Gospel of Saint Matthew 1:18 and 19:
Now this is how the birth of Jesus Christ came about.
When his mother Mary was betrothed to Joseph,
but before they lived together,
she was found with child through the Holy Spirit.
Joseph her husband, since he was a righteous man,
yet unwilling to expose her to shame,
decided to divorce her quietly.