JOB CREATION: A New American Jobs Tax Credit. Obama is calling for a temporary tax credit for firms that create new jobs in the United States over the next two years. RELIEF TO FAMILIES: Penalty-Free Withdrawals from IRAs and 401(k)s in 2008 and 2009. Obama is calling for new legislation to allow families to withdraw 15% of their retirement savings - up to a maximum of $10,000 - without facing a tax-penalty this year (including retroactively) and next year. RELIEF TO HOMEOWNERS: 90 day foreclosure moratorium for homeowners that are acting in good faith. Financial institutions that participate in the Treasury's financial rescue plan should be required to adhere to a homeowners code of conduct, including a 90-day foreclosure moratorium for any homeowners living in their homes that are making good faith efforts pay their mortgages. RESPONDING TO THE FINANCIAL CRISIS: A Lending Facility to Address the Credit Crisis for States and Localities. Obama is calling on the Federal Reserve and the Treasury to work to establish a facility to lend to state and municipal governments, similar to the steps the Fed recently took to provide liquidity to the commercial paper market.
Today I long for yesterday. Capitalism searches out the darkest corners of human potential, and mainlines them.
At first I thought it might be that I just have nothing interesting to say to this group. Now, I see it a bit differently.
I began this ET adventure a few years ago with a diary called "The Quiet Coup". I've read the same story written by others about five times since then, --here and elsewhere--, by people who are theoretically "Serious People". None did it much better, I think. There's a certain wry satisfaction in being right, even if one is still sitting in the burning house. But the workload is high, and I get more real satisfaction from telling a totally fictitious "wizard and dragon" story to my girls. With a lot less research.
Hm. Food for thought Capitalism searches out the darkest corners of human potential, and mainlines them.
But now, it's between McCain and Obama. And it is an obvious choice. "The womb that spawned that thing is fertile yet"
