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Skeptical Debunker

Time for Democrats to take a risk - CNN.com - 0 views

  • Reconciliation was created through the Budget Reform Act of 1974 in an effort to streamline the budget process, strengthen the ability of Congress to make tough decisions regarding deficits, and to make legislative decision-making more efficient. Congress quickly expanded on the types of measures that could be considered under reconciliation until 1985 and 1986, when the Senate passed rules proposed by Sen. Robert Byrd that limited what could or could not be included when using this process. Before moving forward, Democrats must consider two questions. The first is whether using reconciliation to pass health care is legitimate or an abuse of the process. Republicans have charged that this would be akin to forcing the program through the chamber rather than passing the bill through negotiation and compromise. On this question, the answer is easy. Reconciliation has been as much a part of the Senate in the past three decades as the filibuster. According to an article that was published in The New Republic, Congress passed 22 reconciliation bills between 1980 and 2008. Many important policy changes were enacted through this process, including the Children's Health Insurance Program, COBRA (which allows people who switch jobs to keep their health care), student aid reform, expansions in Medicaid and several major tax cuts. NPR's Julie Rovner reported that most of the health care reforms enacted in the past two decades have gone through reconciliation. President Ronald Reagan was one of the first presidents to make aggressive use of reconciliation when he pushed through his economic program in 1981. Senate Majority Leader Howard Baker said then that speed had been essential because "Every day that this is delayed makes it more difficult to pass. This is an extraordinary proposal, and these are extraordinary times." Presidents Jimmy Carter, George H.W. Bush, Bill Clinton and George W. Bush all used reconciliation as well. It is worth noting that these presidents, particularly George W. Bush, also made use of sweeping executive power to circumvent Congress altogether. The second question is more difficult and it involves perceptions. If the Democratic leadership wants to use this tactic, they have to convince enough members of their own party that this won't scare off independent voters. This argument was harder to make in 2009 than in 2010. But after a year of dealing with paralysis in the Senate and highly effective Republican obstruction, more Democrats are coming on board. The leadership must be proactive in responding to the criticism about reconciliation. They will have to explain that reconciliation is a legitimate process by pointing to the history. They will also have to connect the dots for voters frustrated with the ineffective government by explaining that the constant use of the filibuster has turned the Senate into a supermajority institution where both parties have found it extraordinarily difficult -- virtually impossible -- to pass major legislation.On this point, Republicans and Democrats actually agree. Indeed, as Democrats make this decision, Kentucky Republican Senator Jim Bunning is objecting to a unanimous consent order and single-handedly preventing the Senate from passing an important bill to assist unemployed workers.
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    After the Republicans and Democrats met at the White House summit on health care, it was clear that the parties are very far away from a bipartisan agreement. Indeed, few participants walked away with the sense that they were any closer to a deal. The White House did make clear that it was willing to move forward on health care without Republican support. The choice now becomes whether Democrats should use the budget reconciliation process to pass some parts of health care legislation. According to recent reports, Democrats are considering having the House pass the bill that was already approved in the Senate and then dealing with a package of additional reforms through reconciliation.
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    Get that? The current "god" of conservatism - Ronald Reagan - used reconciliation aggressively. So if it was good enough for him ...
Bakari Chavanu

Quiz on U.S. Currency - 0 views

    • Bakari Chavanu
       
      Coins, not paper, is produced by the Mint. All paper money is issued to the public through the banking system.
Skeptical Debunker

Switzerland Keeping the Secrets of Alleged Tax Evaders - Yahoo! News - 0 views

  • Pick a dictator, almost any dictator - Cuba's Fulgencio Batista, the Philippines' Ferdinand Marcos, Haiti's Papa and Baby Doc Duvalier, the Shah of Iran, Central African Republic Emperor Jean-BÉdel Bokassa - and they all have this in common: they allegedly stashed their loot in secret, numbered accounts in Swiss banks, safely guarded by the so-called Gnomes of Zurich. This association - of bank secrecy and crime - has been fed into the public's imagination by dozens of books and movies. It's a reputation that rankles the Swiss, who have a more benevolent view of their commitment to privacy - one that happens to extend to tax privacy. Don't ask, because we won't tell. But the dramatic federal investigation of Switzerland's UBS has blown the lid off bank secrecy - and revealed how Swiss banks abet tax evasion on a far more widespread, if more banal, level. Over the past two decades, these secret banking services have been peddled progressively downmarket - first to the lesser-known fabulously wealthy, then to just the wealthy; more recently, private bankers have been tripping over themselves soliciting business from doctors, lawyers and other folks who are what the biz generally calls "high net worth" individuals. "The IRS has been concerned for decades that a combination of a global economy, the Internet, offshore banking, was really going to take offshore tax evasion from the old so-called 'gentlemen's sport' to tax evasion for the masses," says Mark Matthews, a former deputy IRS commissioner and now a tax attorney with Morgan, Lewis & Bockius LLP.
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    The federal investigation into UBS, which led to a $780 million fine and an agreement to turn over the names of more than 4,450 suspected tax cheats, is now in tatters after Swiss courts ruled against the executive-branch deal. To get around it, a special law has been proposed to accomplish the handoff, but that may not get anywhere in the legislature either. One outcome is already known: tax evasion had become a key service of the Swiss economy, not some isolated event. "They have been outed completely because a very large chunk of their business has been shown to include people cheating on taxes," says Jack Blum, a tax-haven expert. Being "reasonably conservative," he estimates 30% of Swiss banking is related to tax evasion, a figure that jibes with recently released bank data. These revelations come as the financial meltdown has punched a huge hole in projected revenues for governments, which are suddenly a whole lot less tolerant of tax cheats. That's particularly true in Germany, whose wealthy account for a significant portion (at least 10%) of the $1.8 trillion in Swiss banking assets. That translates into hundreds of millions in lost revenue and is the reason the German Finance Minister recently thundered, "There's no future for bank secrecy. It's finished. Its time has run out." The Swiss are not going to be so easily convinced. The Swiss government has already warned that it will not cooperate with German authorities if they go ahead with plans to purchase purloined data about Germans with Swiss bank accounts.
Anna Molly

America's Ten Most Corrupt Capitalists | Economy | AlterNet - 1 views

  • Federal Reserve chairman backed all of Rubin's favorite deregulatory plans,
  • crush an effort by Brooksley Born to regulate derivatives in 1998
  • Greenspan went to bat for politically connected Savings & Loan titan Charles Keating
thinkahol *

Innovation in history: Getting better all the time | The Economist - 0 views

  • Many years of field experience in the Americas and Asia have shown GM crops to be safe, but, Mr Ridley rightly complains, the Luddites of the green and organic movements continue to obstruct progress.
    • thinkahol *
Sarah Eeee

Income Inequality and the 'Superstar Effect' - NYTimes.com - 0 views

  • Yet the increasingly outsize rewards accruing to the nation’s elite clutch of superstars threaten to gum up this incentive mechanism. If only a very lucky few can aspire to a big reward, most workers are likely to conclude that it is not worth the effort to try.
  • It is true that the nation grew quite fast as inequality soared over the last three decades. Since 1980, the country’s gross domestic product per person has increased about 69 percent, even as the share of income accruing to the richest 1 percent of the population jumped to 36 percent from 22 percent. But the economy grew even faster — 83 percent per capita — from 1951 to 1980, when inequality declined when measured as the share of national income going to the very top of the population.
  • The cost for this tonic seems to be a drastic decline in Americans’ economic mobility. Since 1980, the weekly wage of the average worker on the factory floor has increased little more than 3 percent, after inflation. The United States is the rich country with the most skewed income distribution. According to the Organization for Economic Cooperation and Development, the average earnings of the richest 10 percent of Americans are 16 times those for the 10 percent at the bottom of the pile. That compares with a multiple of 8 in Britain and 5 in Sweden.
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  • Not coincidentally, Americans are less economically mobile than people in other developed countries. There is a 42 percent chance that the son of an American man in the bottom fifth of the income distribution will be stuck in the same economic slot. The equivalent odds for a British man are 30 percent, and 25 percent for a Swede.
  • Just as technology gave pop stars a bigger fan base that could buy their CDs, download their singles and snap up their concert tickets, the combination of information technology and deregulation gave bankers an unprecedented opportunity to reap huge rewards. Investors piled into the top-rated funds that generated the highest returns. Rewards flowed in abundance to the most “productive” financiers, those that took the bigger risks and generated the biggest profits. Finance wasn’t always so richly paid. Financiers had a great time in the early decades of the 20th century: from 1909 to the mid-1930s, they typically made about 50 percent to 60 percent more than workers in other industries. But the stock market collapse of 1929 and the Great Depression changed all that. In 1934, corporate profits in the financial sector shrank to $236 million, one-eighth what they were five years earlier. Wages followed. From 1950 through about 1980, bankers and insurers made only 10 percent more than workers outside of finance, on average.
  • Then, in the 1980s, the Reagan administration unleashed a surge of deregulation. By 1999, the Glass-Steagall Act lay repealed. Banks could commingle with insurance companies at will. Ceilings on interest rates vanished. Banks could open branches anywhere. Unsurprisingly, the most highly educated returned to banking and finance. By 2005, the share of workers in the finance industry with a college education exceeded that of other industries by nearly 20 percentage points. By 2006, pay in the financial sector was again 70 percent higher than wages elsewhere in the private sector. A third of the 2009 Princeton graduates who got jobs after graduation went into finance; 6.3 percent took jobs in government.
  • Then the financial industry blew up, taking out a good chunk of the world economy. Finance will not be tamed by tweaking the way bankers are paid. But bankers’ pay could be structured to discourage wanton risk taking
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    (Part 2 of 2 - see first part below) What impact do the incredible salaries of superstars have on the rest of us? What has changed, technologically and socially, to precipitate these inequities? This article also offers a brief look at the relationship between income inequality and economic growth, comparing the US throughout its history and the US vis a vis several European countries.
Arabica Robusta

ZCommunications | The brutal truth about Tunisia by Robert Fisk | ZNet Article - 0 views

  • For I fear this is going to be the same old story. Yes, we would like a democracy in Tunisia – but not too much democracy. Remember how we wanted Algeria to have a democracy back in the early Nineties?   Then when it looked like the Islamists might win the second round of voting, we supported its military-backed government in suspending elections and crushing the Islamists and initiating a civil war in which 150,000 died.
  • Indeed, what was Hillary Clinton doing last week as Tunisia burned? She was telling the corrupted princes of the Gulf that their job was to support sanctions against Iran, to confront the Islamic republic, to prepare for another strike against a Muslim state after the two catastrophes the United States and the UK have already inflicted in the region.
  • It's the same old problem for us in the West. We mouth the word "democracy" and we are all for fair elections – providing the Arabs vote for whom we want them to vote for.
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  • In Algeria 20 years ago, they didn't. In "Palestine" they didn't. And in Lebanon, because of the so-called Doha accord, they didn't. So we sanction them, threaten them and warn them about Iran and expect them to keep their mouths shut when Israel steals more Palestinian land for its colonies on the West Bank.
Iftekhar

NOT free at all - 0 views

shared by Iftekhar on 29 Jan 11 - Cached
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    This site pretends to be free, but charges $10 per month - please pass this message on!
Aleena Smith

Katy ISD Schools Operating As Usual, No Verdict On Early Dismissal - 0 views

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    All Katy ISD schools are in commission on a standard agenda as of at the present, with no group of pupils intermission predictable for at the moment...
John StGeorge

Grilling to get tough over 'gays' in ranks - 0 views

  • may take effect only after the president, defense secretary and chairman of the Joint Chiefs of Staff certify that plans have been made to minimizing disruption and mitigating damage to morale and readiness.
    • John StGeorge
       
      This is an admission against interest that there will be disruption and damage to morale and readioness.
  • The report noted that even during a Jan. 28 briefing on plans moving forward on the change, one military expert said, "I think if something unforeseen arises, it's important to understand that each of the service chiefs – we'll do an assessment every two weeks.
    • John StGeorge
       
      Reassessment every two weeks indicates an anticipation of many "unforeseen" issues arising from the get go.
  • no House hearings at all on the findings of a Pentagon report on the subject
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  • "If servicemembers become infected with HIV due to military blood transfusions or the failuire of an HIV-positive partner to admit HIV-positive status, will that be considered a service-related disability eligible for long-term medical care?"
Sarah Usher

One Step Closer to My Dream - 2 views

My father was a police officer and he died protecting people and making this world a better place. All my life, I always wanted to follow in my father's footsteps and follow a path with police care...

police careers

started by Sarah Usher on 25 May 11 no follow-up yet
Kelly Bounce

Why I Like IgniteAV - 2 views

My team makes a living from organising high quality events. Our job would have been difficult without the help of IgniteAV. They, without a doubt, are the best AV hire and PA hire team we have ever...

AV hire the Obama and Glenn

started by Kelly Bounce on 31 May 11 no follow-up yet
Kelly Bounce

Capture Special Events with Ignite AV Equipment - 2 views

I love to capture events, especially the said events are oh, so, very special. With this, I really need high quality video recording equipment to capture the moment. At Ignite AV, that is not only ...

projector hire

started by Kelly Bounce on 20 Jul 11 no follow-up yet
amita parmar

CORRUPTION  IN  INDIAN EDUCATION  SYSTEM by Sudipsinh Dhaki (Sudipsinh Dhaki) - 0 views

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    CORRUPTION IN INDIAN EDUCATION SYSTEM India is a country where education is considered as scared. It is in India were all religion has its own belief in education. As India is a multicultural country with a number of religion present and number of languages spoken education is given importance in every religion.
thinkahol *

What Happened to Obama's Passion? - NYTimes.com - 0 views

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    Drew Westen is a professor of psychology at Emory University and the author of "The Political Brain: The Role of Emotion in Deciding the Fate of the Nation."
thinkahol *

In Japan, Capitalists Fall Out of Love With Free Markets - NYTimes.com - 0 views

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    Japanese executives were outraged at the prospect of banks taking losses on loans to the company that produced a nuclear catastrophe. This used to be how free markets worked.
Sarah Usher

Police Jobs Through Police-Recruitment UK - 1 views

I was searching for police force jobs that will suit the qualifications that I have. I searched in offices and online until I came across Police-Recruitment UK. I was able to set my sights on a sp...

police force jobs

started by Sarah Usher on 06 Sep 11 no follow-up yet
Anne White

I Passed the UK Police Recruitment for 2011 - 1 views

I really wanted to become a police officer, not because being a police officer is exciting, but, because I knew being a police officer is a noble profession and I wanted to make a difference in the...

started by Anne White on 11 Oct 11 no follow-up yet
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