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Friday, December 10, 2010

Miscellany: 12/10/10

Quote of the Day

Many individuals have, like uncut diamonds, shining qualities beneath a rough exterior.
Decimus Junius Juvenalis

Just the Gift For the Traveler This Holiday Season: 4th Amendment Wear

A couple of young advertising professionals, Tim Geoghegan and Matthew Ryan, came up with the idea while going through airport security one day: how could they mildly protest the unconscionable invasion of privacy , in a way that could be apparent to those watching them through the full body scan machines? The answer: metallic ink. The full printing of the fourth amendment appears on undergarments and socks as displayed in the first photo below. (Ladies may also be interested in the t-shirts.) For the kids, a more pithy "read the 4th amendment, perverts" message  is available (see the second photo).


Courtesy of Tim Geoghegan and Matthew Ryan



Liu Xiaobo Awarded Nobel Peace Prize in Abstentia

Today is the 62nd anniversary of the Universal Declaration of Human Rights and is also Human Rights Day. China is furious that other countries are honoring the jailed dissident advocating non-violent means for human rights and political diversity in China. The winner and his wife were refused permission to accept the award in person. Liu Xiaobo is a worthy recipient of the Nobel Peace Prize...

The unclaimed Nobel document and medal were placed in an empty chair meant for Peace Prize winner Liu Xiaobo
Courtesy of Reuters
The Tax Compromise War Continues

I can't really believe the nonsense that is going on in the far left wing of Democratic Party. When Obama comes out of the bipartisan compromise with nearly $800B over the next 2 years, of which maybe $140B goes to the top 2%, whom pay almost half of individual income, I hardly see it as a "cave-in" to the Republicans: the tax cuts were not permanent which means they aren't efficient and have end-of-life game playing (e.g., accelerating income realization if a tax hike is inevitable), and they end in a Presidential election year (meaning it will be a major campaign issue). I'm not at all happy with all the little sweeteners negotiated by the GOP on unemployment insurance, alternative energy subsidies, etc. But the issue is that many, if not most working taxpayers would otherwise face a stiff tax hike which may cut into discretionary income (more than offsetting meager salary increases). I'm also concerned about the economic drag of investment taxes being raised. It isn't so much the idea of austerity measures and increased taxes; it has more to do with uncertainty. We should never have companies having to put into motion payroll tax changes 3 weeks before the start of the new year because the Congressional Democrats have gone ballistic from they regard is a morally unacceptable retreat in class warfare.

As I have argued in past posts, the Democrats have controlled the Congress since the beginning of 2007. Over the last 4 years, the Democrats have known that these tax cuts were expiring at the end of 2010, but showing their infinite knowledge and wisdom on matters of business and economics, they wait until after an historic rebuke by the American people to push the class warfare tax act. As I write, independent/socialist Bernie Sanders (VT) is staging a filibuster against the tax rate compromise, being aided by Sherrod Brown (OH)  and Mary "Louisiana Purchase" Landrieu.

It's not just the demagogues from the left, but the demagogues from the right, e.g., Jim DeMint and Sarah Palin, Tea Party darlings, both of whom are testing my patience. I am sick and tired of Sarah Palin constantly acting hypercritical of everything under the sun; her whole political gimmick seems to be engaging in smartass one-liners. I'm sure that moderates and independents are thinking, "Gee, what we need in the Oval Office is another divisive, inexperienced candidate." Look, if you had told me 6 months ago that Republicans would be able to extend the higher-income tax rates, and that a stimulus would be more to the Republicans liking, e.g., broad payroll tax cuts versus Democratic politicians picking winners and losers, I would have said you were dreaming. If DeMint, Palin, and Bachmann seriously think that with 42 Senate votes and less than 200 Congressmen they can get a solid conservative bill through a lame-duck Congress, they're delusional. Half a loaf is better than no loaf. Like it or not, the Democrats are in control of the Senate, and there's still a progressive Democrat in the White House next month. Nobody likes compromises, but you have to play the best hand you've been given.

Political Humor

"A new study found that seniors can keep their minds sharp by doing puzzles and brain teasers. That’s why every morning, we stick my grandmother in a maze and make her find her way out." - Jimmy Fallon

[The federal government gave them a worthy mental exercise: figure out how to make social security and Medicare solvent without crippling economic growth.]


"Facebook founder Mark Zuckerberg pledged to give away most of his money. He’s doing it by investing in Myspace." - Conan O'Brien

[I thought that maybe he was going to put his money in Obama Class War Bonds.]

Musical Interlude: Holiday Tunes

Gene Autry, "Here Comes Santa Claus"