Frequent Citations

Riding Season Again

It was a truly beautiful weekend, so TFL and I took off on a ride last Saturday.

Man, it was good to be back on the bike.  We went up 95, which is horrid, but branched off on 7 and then stumbled upon the 33 to 35 route--stunning.  The perfect road, all twisty and hilly and charming.

I'm trying to concentrate on that pretty ride and the hope of another this weekend to distract me from the news of the day, and the amoral idiots who are making me spitting mad.

It's like an equal opportunity slime fest, where the game of the day is to mangle language and logic to make the awful seem . . . acceptable, even laudable.  I've been livid about this issue for years, and appalled at the willful blindness and nauseating apologetics, and now those who should be cleaning house are all about sweeping things under the rug.

Shame on them.  And more shame on us if we let them get away with it.

Budget And Taxes

Brace yourselves:  some of you will find this post to verge on the pinko commie!

This article on the proposed budget is in line with other analysis I've seen (and is written in plain English, a bonus!). For historic income tax info, see this site.

But here's what you really want to know:  the top 1% includes only those families making over $388,000--and what the tax site's table doesn't show you is that most in the top 1% make far more than that (think many many millions a year).  ALSO:  the average tax rate for the top 1% is only about 20%.  When you see the numbers in the high 30s, that's their marginal rate--what they pay on the last dollars of their income.  That's (one reason) why the argument that raising taxes on the wealthy removes the incentive to become rich is absolute bunk:  you're paying exactly the same rate as everyone else on your first $250,000 or $388,000 or whatever, and only pay the higher rate on the money you make after that.  So would you rather have 80% of $10, or 80% of $10 plus 70% of $100?  Gee, let's see...  I'll take the $78, not the $8, thanks.

We're not in the top 1%,  but we probably will be within a few years (if--knock on wood--we both keep our jobs), which is precisely when these tax increases will hit.  So I'll be (I hope) working in a job I love in a city I love, making more than I would be anywhere else but taking home less than I would living almost anywhere else because of city taxes...  And I still think this tax reform is a darn good idea.  It doesn't solve the inequities and iniquities of our current tax system, but it's a step toward a less destructive system, and a step toward investing in some of the right priorities (such as education and benefits for veterans).

And that concludes my little tax rant, which I am sure is pretty much opposite to everything you hear on certain "news" channels (or from certain of my beloved family members).  But I will add this:  many of our current economic troubles can be traced, directly and indirectly, to the long-term transfer of wealth from the middle class to the wealthy.  Stopping that trend and redressing some of the past harm is pure national self-interest.

I don't think I'm a pinko commie and I'm very much in favor of making more money my own self (shoes to buy, people!), but once in a while I suppose my religious ancestry exhibits itself in this crazy streak of wanting fairness, even if it may cost me a pair--several dozen pairs--of shoes.

Now We're Talking, Speech-wise

I'm not going to address Reagan's politics or policies or my thoughts about them at the time or in retrospect.  But I'll go on record with my opinion that the man really knew how to give a speech.  I used to adore watching his State of the Union speeches because they were pure, delightful Americana, all yay for capitalism and independence and beating those deluded commies. 

As you may remember, I was underwhelmed by our President's Inaugural speech.  Too blah, too unfocused, and far too long.  I am happy to say that tonight's Address (that in any other year would be a State of the Union) was a tremendous improvement.  From a pure speechifying perspective it was fab--consistent in tone, chock-full of quotable lines and tangible goals (can everyone say Rah! for regaining our status as most-educated nation by 2020?), and beautifully delivered. 

Never underestimate the importance of a rip-roaring speech.  As a people, we love to be inspired.

On Automakers

There are the nitwit executives with their inept pr departments.

And then there is the city--or what remains of it--and the people within it.

When we say there are no easy answers, we should remember that "no" is an easy answer too.  Michigan has been suffering for a while, and Detroit for decades.  I don't know that the Big Three are worth saving.  I'm not an automotive industry expert and I haven't seen their books or contracts.  But if we don't save these car companies, we had best come up with an alternative for the city, the state, and our own well-being. 

Before you tell me that it's the fault of the unions, I'm going to have to say that while no single party (even the nitwits) is either blameless or fully responsible for Michigan's catastrophe, the unions (especially their individual members) are not the epitome of evil.  In fact, although I love and adore the bankers who keep firms like mine in business, I have enormous sympathy for this mayor.  (Could the interviewer be more of a canker-blossom?)

The Evil-y Evil Arrived

Yes, boys and girls, Dr. Horrible's Sing-Along Blog arrived today!  So I didn't get home until almost midnight, do you think that stopped me?  What better time to celebrate evil genius?

Of course I saw it when it was first released, and if you haven't seen it yet then there is nothing better you can do for the next 40 minutes than go watch it.  Now I'm wondering what kind of mental deficiency I was suffering that I didn't order the cd too, because I want all those songs now, please.  (The same person who told me about Dr. Horrible coming out is now reading this and saying "Uh, hello? ITunes!")

Anyway, work is back to nuttiness after a brief semi-lull.  I have to order cookies (having second thoughts about the peanut butter patties) and figure out how to not eat them all.  TFL is muttering about taking a martial arts class.  Dogness is still happy in the delusion that the world is all about her and her frisbee. 

Needed: One Speech Editor

I admit to being somewhat displeased by the Inauguration speech yesterday.  It had its finer moments, certainly.  But someone should have slashed it by at least a third, maybe two thirds.

Side note:  the invocation should never be longer than Lincoln's second Inaugural--700 words.  Yesterday's invocation reached new lows of ridiculousness.  The benediction, however, was delightful.

Back to the main rant:  the Inauguration is not the time or place to stick it to the previous administration.  It's all about the peaceful transfer of power, not stomping on your predecessor.  True, a significant chunk of the population craves hearing that utter rejection and condemnation of the last eight years--and may have especially relished watching the outgoing President sit there and take it.  Nevertheless, that speech should have been saved for the State of the Union.  There, it would be appropriate to update Congress on our disastrous situation and the new President could simultaneously scold Congress for its own role in creating it.  But the Inaugural speech should not be about recriminations, however subtle.

Similarly, I found the speech heavy on statements geared toward the foreign audience.  True, leader of the free world and all that, but you must lead your own country before you can lead the world.  I wouldn't have cut every reference to our friends and enemies abroad, but I would have encouraged heavy pruning.

But these points are merely signposts to the crux of the speech's problem:  it lacked a central theme.  He tried to say too much to too many.  There was no distillation of message or sifting of priorities.  It was a shotgun speech, a blunderbuss, even a bit of a mess. 

Ah, well.  It was a moment, for all that.

Happy Inauguration Day

Yay for the peaceful transfer of power.

May the new president be endowed with wisdom and fortitude, and may we all relish seeing the page of history turn.

Surreal Reading

I've been reading The House of Morgan in all my free time lately.  I highly recommend it in general, as a well-written biography of sorts.  In fact, it's a string of biographies as it works its way through the lives of the various J.P Morgans, et al.

It may be a truism that history repeats itself, but this book shows precisely the lessons we learned and forgot again.  The dangers of unregulated financial markets, the fiscal and political power held by banks, the extent to which banks can capture the business/industrial world--all of these themes and more were present before 1929.  The repeated panics of previous 50 years resulted in nothing but more power for banks, even after the Federal Reserve System was created.  The American banks governed their debtor companies, created trusts (remember U.S. Steel?), made it possible for England to win WWI and Germany to pay its reparations and rearm.

It makes for eerie and fascinating reading.  As an antidote, I also picked up Steve Martin's autobiography, so we'll see how it goes.

An Explanation For This Mess

This article perfectly explains how the world got into such a financial mess:  it's all David Bowie's fault.

Now you know.

Errant Planes

You may have heard, we had a plane go astray around here yesterday.  Literally, right here, as in--if I had been home I would have seen it go by. 

The river was completely still today, thank goodness.  It gets choppy as all get-out some days.  I don't recommend taking it as a short cut to our place--not if you're coming to visit by plane.